3 Steps for End of Year Goal Planning
I recently bylined an article for Real Producer’s Magazine that talks about the importance of planning out your real estate goals for the upcoming year. With the holidays upon us, it’s a great time to hit the pause button and reflect on what worked this year and what didn’t, where adjustments and improvements can be made and most important why the act of physically writing down your goals is the key to long term success. Let’s get started ….
But first … Why do I need a plan?
Recent studies show that about 3% of adults have clearly written goals and accomplish 5 to 10 times more than those who do not. Goal setting not only allows you to take control of your life's direction, it also provides you a benchmark for determining whether you are actually succeeding.
As a self-proclaimed planner, I can personally attest to the power of the physical act of writing down a goal. It helps clarify the things you truly want to accomplish; and by writing it down, you no longer have an excuse to forget about it.
Step 1: Set Your Goals & Write them Down
Identify clear, concise and SMART goals that motivate and excite you. (SMART stands for Specific, Measurable, Attainable, Realistic and Time Bound) In more specific terms, your goals should be clear and well defined, include precise figures and dates, are possible to achieve, are aligned with the direction you want your personal and professional life to take, must include a deadline and, last but not least, must be written down so that they inspire you to take action.
Step 2: Create a Business Action Plan
Now that you’ve identified and written down your goals, it’s time to put a plan in place to achieve them. To get yourself into the business planning mindset, start by conducting a review of your current or previous year. Some great questions to ask yourself: What did I accomplish? What are some road blocks or challenges that got in my way? What opportunities did I miss? What did I learn? It is important to review what worked last year and to know your basic numbers (i.e. average days on market, listing to sale ratios) before you begin planning for the year ahead. Once you know your stats, begin writing down the individual tasks you need to carry out to achieve your objective, and in the order you need to complete them.
NOTE: Keep this list close by so that you can easily mark off tasks as you complete them.
Step 3: Track & Measure Your Results
How do you know if what you’re doing is yielding positive results? Using a suitable tracking system – whether that be a simple tracking form like an excel spreadsheet or a more robust CRM platform like Infusionsoft, Salesforce, Hubspot, etc., to record your results - will allow you to track your progress and make necessary corrections throughout the year.
I hope you found these points helpful. By following these three steps, I am confident you can set goals with certainty and enjoy the satisfaction that comes along with knowing you achieved what you set out to do. Now, go get em tiger!
If you’d like a copy of all of the forms I use for my personal and business goal setting, please email me at email@example.com and I’ll be happy to share them with you. Good luck and happy planning!