Episode 037 - Business Plans (Part 1)

<p><span style="font-weight: 400;">We here at the OTB studios want to ask you a question that could be slightly uncomfortable: do you have a business plan as a real estate agent? If not, don’t worry, it’s something that even Bernie and Steve haven’t worked on in the past, but the past is the past and honestly, it’s long past time to get one started!</span></p> <p><span style="font-weight: 400;"> </span></p> <p><span style="font-weight: 400;">Like Bernie says in the episode, having a business plan is sort of like having a business constitution. It’s a document that asks questions of you to determine what kind of person you want to project to the world and what you’re looking for by going into business for yourself. It’s also about keeping yourself accountable; not necessarily toward the production goals you have for yourself, but the overall goals you have for yourself, and having them written down on a document can help you revisit those goals to see where you’re at.</span></p> <p><span style="font-weight: 400;"> </span></p> <p><span style="font-weight: 400;">In the podcast we go over these questions to help build out your business plan, but here they are laid out for ease of use:</span></p> <p><span style="font-weight: 400;"> </span></p> <ol> <li><strong>Identify who you are as a Realtor.</strong> <span style="font-weight: 400;">Know who you are and who you’re not.</span></li> </ol> <p><span style="font-weight: 400;"> </span></p> <ol start="2"> <li><strong>Identify who your Ideal Customers are.</strong> <span style="font-weight: 400;">What customer base would you ideally be serving?</span></li> </ol> <p><strong> </strong></p> <ol start="3"> <li><strong>Analyze your current Real Estate Market.</strong> <span style="font-weight: 400;">What is the current state of things, what are the trends?</span></li> </ol> <p><span style="font-weight: 400;"> </span></p> <ol start="4"> <li><strong>Analyze your Competition.</strong> <span style= "font-weight: 400;">Who is in the market with you and how do you fit in?</span></li>