One of the biggest challenges I see facing new agents is not having a clear idea as to who their prospects are. Ask any agent what their typical prospect looks like and most will give an answer ranging from "everyone," to a vague elevator speech that might sound good while networking, but has little in the way of specifics.

And that's a real problem too. Because if you don't know who your prospects are and what specific challenges they face, how can you effectively build your business in the shortest time possible?

The answer: You can't.

So rather than floundering around, printing up a bunch of flyers that may or may not work, let's take the first step in developing an action plan for building your business right away.

One of the first things I advise my clients to do is develop a "sphere of influence" or target market, for whom their service is best suited.

By that I mean take into account your strengths, and the specific characteristics you as a Realtor bring to the table. Things like:

• How long have you lived in the area?

• What did you do before you got into real estate?

• How do you like to spend your free time?

• Have you raised a family in this particular city?

What we're doing is figuring out which audiences are more likely to work with you based on the specific attributes you bring to the table.

Example.

If you're a new agent who's just finished raising a family in that area, but doesn't have much experience in the "business world," then a natural sphere of influence would be relocation homebuyers. These families are new to the area (and ideally new to the state), and would certainly value your years of experience in the city, especially when it comes to raising a family.

Conversely, if you've been in Corporate America for the past 20 years and then decided to move to real estate, then residential investors might be a good sphere for you. These folks would probably value your previous business experience and potential investment savvy.

Either way, we've matched your experience with their needs, and developed a target market that's an ideal match for you.

So now instead of fielding questions about how long you've been in the business, and what's your previous real estate experience, you're able to leverage your inherent strengths to what's important to them.

And believe me, once you discover a prospect's "hot buttons," and talk in a language they understand, your business will literally take off.

But it all starts with developing a sphere of influence. Putting a "face" to your prospects, so you know who they are, and ultimately what's important to them.

Not sure where to start? I've got a quick list of "spheres" commonly adopted by new agents, that way you don't have to start completely from scratch. Just email This email address is being protected from spambots. You need JavaScript enabled to view it. with the subject, "I Want Those Spheres of Influence" and we'll send out a free report.

Here's the bottom line: Building your business is all about leveraging your strengths in the context of your prospects' needs, and then finding as many of those folks as you can. It might mean networking with some of your friends and family ("Hey, I'm working with 1st time homebuyers, do you know of someone who's getting ready to buy their first home?"). It might mean canvassing every apartment complex within a 10-mile radius of your office. Or it could just mean buying a list.

But what it doesn't mean is scattering your valuable time and energy trying to "catch as catch can." That, my friend, is an exhausting way to build your new business.

A colleague of mine said it best: "Every successful business I know is an inch wide and a mile deep."

I just love that. So do yourself a favor, and develop a sphere of influence that has you focusing on success today.