Do you have a business plan? Part I
Whenever I have asked participants in any of the workshops whether they have a business plan 99% of individuals will say “No!” or they will not answer at all and look at the floor. I KNOW YOU DO NOT HAVE A BUSINESS PLAN! is what I what I want to say. Well actually if you have been to my workshops you will know that I actually do say it!
So I decided that I will actually spend time through these postings actually breaking down the business plan bit by bit. So before we get into the particulars of the business plan I know their are more then a few of you that are questioning whethe you need a business plan.
Why do you need a business plan?
1. How do you achieve a target without knowing if you have gotten there yet?
2. If you do not have a business plan you can never adjust appropriately to the market and so basically have NO STRATEGY.
3. Both fair housing and ethics presuppose that you have a business plan. In your business plan, you are supposed to state your business policies. If you do not have those written down then how do you prove that the actions that you took were part of your “Business practices”?
4. How do you prove to yourself that you have a business with no business plan? Come on people ? If you are making no money it is ok - AT LEAST HAVE A BUSINESS PLAN!
Seriously though - you need a business plan. Once I put mine together I knew exactly where I needed to go and what I needed to get there. In this market time and time again the agents that I have seen that are still doing business are the ones who had a business plan!
Are you ready and pumped to do whatever it takes? Look to Part II where I am going to speak about goal setting
I look forward to seeing you all in a workshop soon
Prabhjit Singh
psingh@rempower.com