I am continuing my discussion today on the seven components of a business model with the third component. The third component of the model is about very specific goals.
You cannot get to where you are going without goals. Nobody has ever won a race where they did not know where the finish line was. This is why I highly recommend that you begin your career, and the beginning of every year after, by sitting down and writing out specific goals. Once you write down your goals about income, sales units, etc., you can do some reverse math and figure out how to achieve those goals.
“Nobody has ever won a race where they did not know where the finish line was.”
If you want to make “X” dollars, for example, and the average sales price in your area is “X” and the average commission is “Y,” then how many “Y’s” do you need to sell to hit that goal? Then, divide that total by 12 so you know how many sales you need per month. After that, you can figure out how many phone calls, door knocks, etc. you need to do to get enough clients to make those sales.
This is an exercise that can take some time, but it gets much easier in your second and third years. However, I still highly encourage you to start in your first year so that you will at least have the habit in place. When you look at the results at the end of the year, you will know where to go to accomplish your new goals. This will help you get ahead of many real estate agents.
If you have any questions about this, please feel free to reach out to me. I look forward to speaking with you soon.
