A mentor of mine said to me “agents aim for nothing and hit it with amazing success!” 2020 is wrapping up and what did you aim for? What did you hit? It is the perfect time of year to aim for something in 2021 and hit it with amazing success! So when 2020 begins to wind down you should not wait until the very end to start planning for 2021. This means having a crystal clear understanding of the successes and challenges of your current year, how it impacts your upcoming year and developing a vision of what you want to accomplish, and how. Many agents aim for nothing every year and most hit it with amazing accuracy!!
There are four tasks that can help you set yourself up for business success in the upcoming year. The more time you can spend on these tasks, the better, but you don’t need a lot of time to see results. If you dedicate as little as one hour each week, you’ll have completed all of the tasks by the end of December.
Review and reflect on the past 12 months.
The best thing about the end of the year is that you’re already primed and ready to be in reflection mode. You’re most likely starting to think about New Years’ resolutions as well as reminiscing about times past with your family and friends during the holidays. Just as you reflect on your personal life and set goals, you should do the same in your career and business.
When reflecting, take a look back at both the good and the bad sides of things. Take stock of where you are in your career in regard to where you want to be, evaluate what went well for you professionally, and areas in which you can improve. Ask your managers and colleagues for feedback as well your own self-reflection. Be thorough in your reflections, as the more detailed they are, the better you’ll be able to reflect on them. This directly correlates to the next task.
Make a game plan for the next 12 months.
Once you’ve done your reflecting, it’s time to turn that into action. That action comes in the form of setting goals. Create a broad goal for the entire year, plus smaller goals that complement and help you reach your main goal. From there, create an outline of how you’ll reach those goals, when you want to accomplish them, and ways that you can ensure you stay on track. This becomes your action plan for the year.
For instance, don’t just say I am going to double my business or I am going to do 30 new deals this year. Break it out into smaller steps. 30 new deals are 2.5 new transactions a month. or one-third of a transaction a week Can you get one more deal in two weeks? That’s a realistic goal. If I said to you I need you to get one more deal in the next two weeks doesn’t that sound a lot easier than I need you to go get 30 more deals this year?
The habit of beginning with the end in mind was introduced 25 years ago by Dr. Stephen R. Covey in his groundbreaking bestseller, The 7 Habits of Highly Effective People, and it holds true when using conversion rates to improve your real estate business. In order to achieve your goals, you’ll need to work backwards!
For example, let’s say you want to achieve $10 million in sales, and you’ve determined that every client you gain in your business averages out to be $400 thousand. This means that you’ll need to have at least 25 transactions for the year.
Here’s how you can work backwards with your conversion rate to determine what it’ll cost to generate those clients:
Goal #1, Determine Transactions Needed: To achieve $10 million in sales, how many transactions will I need based on $400K per new customers? ($10 million ÷ $400K = 25 Transactions)
Goal #2, Calculate Number of Leads Required: To achieve $10 million in sales or 25 transactions, how many new leads will I need to generate with my marketing efforts? (25 Transactions ÷ Conversion Rate (5%) = 500 New Leads)
Goal #3, Cost Analysis: To achieve $10 million in sales or 500 new leads, what will it cost me in my marketing efforts? If you know your cost per lead (which you should), this is pretty simple: (500 new leads x $10/lead = $5,000)
The big decision for you now is NOT how to spend $5,000 wisely, but rather how to improve your lead conversion rates!
There are two main ways to get leads today. Buy them from Zillow or some other source at a way more premium than $10.0 per lead. Or generate your own. Here at Elite Partner Solutions we can generate Facebook leads for around $.80 to $1.60 per lead. You spend $10.00 a month we generate between 250 to 300 plus leads. Example leads below.
If you are interested in learning more abour our Facebook Lead Generation please go here and select the Facebook Lead Generation. I will personally set up a zoom meeting and go over our plan and costs.
You’ll want to revisit your goals and your action plan at least four times a year. Your goals can change throughout the year for a number of reasons. Perhaps you decided to change jobs or got an unexpected promotion, or maybe you were laid off. Your goals shouldn’t stay the same if your circumstances have changed.
Clean up your inbox.
An overflowing inbox is one of the biggest sources of stress at work. Leave this stress behind in the new year by starting off with a fresh, uncluttered inbox. This is not the time to simply select all of your emails and mark them as read. Thoroughly go through your messages keeping two things in mind – is it urgent and can it be deleted? Reply right away to any urgent messages and remove yourself from email chains that you don’t need to be a part of. From there, create filters to help keep your inbox as clutter free as possible.
To keep this momentum going, don’t leave your next big inbox clean up until the end of the next year. Schedule a time to do it once per month, or at least once per quarter. Inbox zero is nearly impossible, but having control of your inbox is well within reach. One thing I learned as a trait of the most successful business people in the world is not keeping lists. Seriously, make your list of everything that needs to be completed. Once you have the list look it over and prioritize what has to be done now. Maybe two or three things. Then schedule that thing and throw the list away. Star over again tomorrow with a fresh new list. I thought this was crazy the first time heard of this. However, you will be amazed like I was at how many items never make it back on the list because they simply are not that important and this is what frees up more time to be productive.
Finish as many small tasks as possible.
The more small tasks you can check off your to do list, the better you’ll be prepared to hit the ground running in the new year. Take 20 extra minutes to reply to emails or tie up any loose ends on a project. File the paperwork that you’ve been putting off. It’s the little things that matter the most in this case. Taking care of those tasks will ensure that you start the year off focusing on the bigger things and not playing catch up. In other words, don’t procrastinate and leave things until January. Yes, this is much easier said than done, but it’s also the most important.
If you’re ready to take hit the ground running next year, make time to complete each of these tasks. Spread them out over the whole month or tackle them all in one sitting, it’s up to you. Completing them is all that matters. Want an even better next 12 months? Make the time to complete these tasks all year round. Make it a monthly cleanse or weekly would be even better.
Find more successful tools by visiting our MondayMorningHustle.com blog.
Here’s to a great 2021…