Conducting an annual review of your business is a sure-fire way to achieve success in the new year. But in real estate, unlike the corporate world, there is no supervisor assigned to help you review and audit how you performed in the past year. It’s up to you to prepare your business for 2021!
Tie a bow on 2020 by checking in with all elements of your business plan, then adjusting your strategy moving forward.
Begin by checking in with these three areas:
Evaluate Your Goals
The unforeseen circumstances of this year pressed pause on many agents’ goals. Still, real estate agents are great on their feet, and many were able to pivot and set new objectives for the year. Look at these new goals and see how you measured up! You may choose to expand or continue them for 2021. You may also revisit your original goals for 2020 or create some new milestones entirely. Checking in with your goals is going to give you a clearer picture of what you achieved in 2020 and what you need to accomplish in 2021.
Revisit Your Business System
What did you do this year to generate high-quality leads? How did you market your business in a safe and healthy way? Write down everything that went well with your business activities. Then start to identify some challenges you faced. Perhaps you struggled with time management this year, ran into an expired listing or felt like you hit a plateau. Maybe you ended up fielding more leads you could handle! All of these bumps in the road can be smoothed out in 2021 by making necessary updates to your business system.
Review Your Finances
Many folks had to dip into reserves this year or access federal small business loans to stay afloat during the pandemic uncertainty. That’s why conducting a year-end financial audit is going to matter even more this year. You’ll want to make sure you know where your money went and what needs to be done to earn it back in 2021. See how you did financially this year, then adjust your business spending plan accordingly.
There is always room to grow! If you found some areas where you’d like to improve in the new year, consider investing in a real estate training program. This is the gift that keeps on giving! Agents looking to level up in their career should check out The Pathway to Mastery®—Advanced. This latest Buffini & Company real estate training program is designed to help experienced agents fine tune goal setting, expand their business systems and master their finances for next-level success. Sign up for the online course today!