As you assess your income against your time investment of last year, like many of us, you may be a little frustrated as to why there wasn’t more on the income side. The fact is, that expenses keep rising and the commission dollar is shrinking. Instead of wishing and hoping for better results next year, what could you do today to ensure that you will target where you really want to be to fund your life?

Here’s a solution:

Focus consistently on profit producing activities that need to be incorporated into every step of your real estate services from now on. This means you must make a commitment to doing things differently to attain better and different results. Interested?

My next few articles will help you focus on profits so you can:

1. Take a good look at last year's business in a new way

2. Learn the easy steps to begin building a well defined customer database to help develop client-relationship management strategies to produce new profit centers.

3. Use fresh new ways to create alternate streams of income through cross selling platforms with ancillary services you already may have in place

4. Get cutting-edge tools and services to build and nurture past clients and customers Resources and guidelines for securing a new dimension in business management that includes a targeted coaching program to keep you on focus and to stay on track to create the life and financial freedom you really want and

5. Turn Web sites into profit centers. Websites without work stations are advertisements…Learn the new way of implementing today’s web tools, with total front and back end functionality – making sure your website works for you, as a full solution.

Step one - take a good look at last year's business

The first step is to figure out where your money from all those commissions went last year. It may take some time, but take a good hard look at your expenses so you really get a clear idea of what each part of the transaction costs. This will help you make better decisions about how to grow the business and delete and change what isn’t serving you well anymore.

Include categories like analysis of the volume generated in the previous year and compare that volume to the costs you’ve incurred. Design a budget projected to a specific targeted volume for the upcoming year. Define the action plan to secure the new production and break down the steps to be implemented on a quarterly, monthly, weekly and daily basis to attain the targeted goal.

Be sure to allow budgeting for new equipment and tools you will need to cut long-term costs and time investments, like digital cameras, web services, laptops and prospecting tools. Figure out how this plan is different from last year's and incorporate at least 4 new strategies and steps to allow for a new outcome.

Be sure to check back in for the next step in this series to help you begin implementing changes that result in more profits a year from now. You have a choice, right now, to do what you’ve been doing and submit to expecting the same results. Your other option is to “think outside the box”, with courage and to be supported with a new plan that will change the trajectory of your efforts and end next year at this time with more profit for the precious investment of your life and energies.

Are you game?

Published: December 13, 2001

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