1 hour business plan
TRANSCRIPT
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Craig Proctor ProductionsPresents
The 1-HourBusiness Plan
This Completely Customized Easy to Use Business Plan Format
Will Allow You to Map Out Your Entire Business Strategy for the
Next Year in Less Time Than It Takes to Do One Listing Presentation
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CONTENTS
I SITUATION ANALYSIS.. 1
. Business Unit Analysis. 2
. Competitive Analysis 3
. Customer Research.. 8
. Threats & Opportunities. 10
. Historical Sales Data 11
II OBJECTIVES & GOALS....... 12
. Business Goals.. 13
. Volume Breakdown Analysis
. What & How.. 14
. Listing/Buyer Volume Breakdown.. 15
. Listing/Buyer Source Breakdown... 16
. Ideas to Implement:
. Marketing.. 17
. Team Building 18
. Technology. 19
. Training & Education... 20
. Past Client Retention. 21
. Customer Service/Referrals.. 22
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SITUATION ANALYSIS
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BUSINESS UNIT ANALYSIS
Your Name: ___________________________ Your Company: __________________________Avg Annual Home Sales: ________ Share of Market:________% Avg Commission: __________%List to Sales Ratio: ______% Avg days on Market: _______ days # Yrs in Real Estate: _______ yrs
1. Do you have a team: Yes No If yes, what is the quality & composition of your team:
# How satisfied are you with this/these assistant(s)Assistants Not at all Satisfied Very Satisfied
Closing Coordinator ______ 1 2 3 4Call/Listing Coordinator ______ 1 2 3 4Office Manager ______ 1 2 3 4Customer Service Manager ______ 1 2 3 4Buyers Agents ______ 1 2 3 4
Prospect FollowUp Coordinator ______ 1 2 3 4Computer Specialist ______ 1 2 3 4Other (pls specify) ______ 1 2 3 4_______________________
Total # of Team Members ______
2. What Market do you target (geographic and demographic) __________________________
_________________________________________________________________________
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COMPETITIVE ANALYSISKEY COMPETITOR #1
Competitors Name: ______________________ Competitors Company: _______________________
Avg Annual Home Sales: ________ Share of Market:________% Avg Commission: __________%List to Sales Ratio: ______% Avg days on Market: _______ days # Yrs in Real Estate: _______ yrs
1. Does this agent have a team: Yes No If yes, what is the composition of their team:
# Assistants in this position
Closing Coordinator ______
Call/Listing Coordinator ______Office Manager ______
Customer Service Manager ______
Buyers Agents ______Prospect FollowUp Coordinator ______Computer Specialist ______
Other (pls specify) ______
_______________________
Total # of Team Members ______
2. What is their USP? _______________________________ _____________________________________________________________________________________________________________________
3. What market do they target(geographic and demographic)? _________________________________
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COMPETITIVE ANALYSISKEY COMPETITOR #2
Competitors Name: ______________________ Competitors Company: _______________________
Avg Annual Home Sales: ________ Share of Market:________% Avg Commission: __________%List to Sales Ratio: ______% Avg days on Market: _______ days # Yrs in Real Estate: _______ yrs
1. Does this agent have a team: Yes No If yes, what is the composition of their team:
# Assistants in this position
Closing Coordinator ______Call/Listing Coordinator ______
Office Manager ______
Customer Service Manager ______Buyers Agents ______Prospect FollowUp Coordinator ______
Computer Specialist ______
Other (pls specify) ______
_______________________
Total # of Team Members ______
2. What is their USP? _______________________________ _____________________________________________________________________________________________________________________
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COMPETITIVE ANALYSIS
KEY COMPETITOR #3
Competitors Name: ______________________ Competitors Company: _______________________Avg Annual Home Sales: ________ Share of Market:________% Avg Commission: __________%
List to Sales Ratio: ______% Avg days on Market: _______ days # Yrs in Real Estate: _______ yrs
1. Does this agent have a team: Yes No If yes, what is the composition of their team:
# Assistants in this position
Closing Coordinator ______
Call/Listing Coordinator ______
Office Manager ______Customer Service Manager ______Buyers Agents ______
Prospect FollowUp Coordinator ______
Computer Specialist ______Other (pls specify) ______
_______________________
Total # of Team Members ______
2. What is their USP? _______________________________ ___________________________________
__________________________________________________________________________________
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COMPETITIVE ANALYSIS
KEY COMPETITOR #4
Competitors Name: ______________________ Competitors Company: _______________________Avg Annual Home Sales: ________ Share of Market:________% Avg Commission: __________%
List to Sales Ratio: ______% Avg days on Market: _______ days # Yrs in Real Estate: _______ yrs
1. Does this agent have a team: Yes No If yes, what is the composition of their team:
# Assistants in this position
Closing Coordinator ______
Call/Listing Coordinator ______
Office Manager ______Customer Service Manager ______Buyers Agents ______
Prospect FollowUp Coordinator ______
Computer Specialist ______Other (pls specify) ______
_______________________
Total # of Team Members ______
2. What is their USP? _______________________________ ___________________________________
__________________________________________________________________________________
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COMPETITIVE ANALYSIS
KEY COMPETITOR #5
Competitors Name: ______________________ Competitors Company: _______________________Avg Annual Home Sales: ________ Share of Market:________% Avg Commission: __________%
List to Sales Ratio: ______% Avg days on Market: _______ days # Yrs in Real Estate: _______ yrs
1. Does this agent have a team: Yes No If yes, what is the composition of their team:
# Assistants in this positionClosing Coordinator ______Call/Listing Coordinator ______
Office Manager ______
Customer Service Manager ______Buyers Agents ______Prospect FollowUp Coordinator ______
Computer Specialist ______
Other (pls specify) ______
_______________________
Total # of Team Members ______
2. What is their USP? _______________________________ _____________________________________________________________________________________________________________________
3. What market do they target(geographic and demographic)?
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CUSTOMER RESEARCH
Photocopy these two pages and research 3-5 clients for each of yourself and your main competitors toenable you to complete this section on your business unit and competitive analysis.
Date: ____________ Agent Name: __________________ Client Name: _______________________Client Address: _________________________________________ Tel. #: ______________________List Price: $_____________ Sale Price: $______________________ Closing Date: ______________
I am doing an independent survey on the Real Estate market in . I know youve
just sold your home and wondered if you could give me a couple of minutes to answer some questionsabout the experience you had to help me understand the market.
1. On a 4 point scale (with 4 being Very Satisfied and 1 being Very Dissatisfied)could youplease rate how happy you were with the service you received in the following areas:
Very VeryDissatisfied Satisfied
Price your home sold for 1 2 3 4Timing within which your home was sold 1 2 3 4Advertising on your home 1 2 3 4Customer Service/Feedback from agent 1 2 3 4Respect for you as a seller 1 2 3 4
2. How did you go about choosing the real estate agent you used? (Let them come up with their ownanswer(s) here, but use the following boxes to record their answer)
Advertising Friend Agent called me
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CUSTOMER RESEARCH cont'd
6. Could you please name the real estate agents you are familiar with in this area?a. ______________________________________________________________________________b. ______________________________________________________________________________c. ______________________________________________________________________________
7. You mentioned (YOUR NAME). Can you please tell me what you know about the home sellingsystem developed and practised by (YOUR NAME)?________________________________________________________________________________
________________________________________________________________________________________________________________________________________________________________
8. You did not mention (YOUR NAME). Have you ever heard of this agent? Yes No
9. Can you please tell me what you know about the home selling system developed & practised by
NOTE:
!IF SURVEY RESPONDENT USED YOU TO SELL HIS/HER HOME, GO TO QUESTION #9 AND THEN CLOSE
!IF THE SURVEY RESPONDENT MENTIONS YOU IN QUESTION #6, GO TO QUESTION 7.
!IF SURVEY RESPONDENT DOES NOT MENTION YOU IN QUESTION #6, SKIP TO QUESTION 8.
NOTE: !AFTER ANSWERING QUESTION #7, SKIP TO QUESTION 10.
NOTE: !IF YES GO TO UESTION 9. IF NOT END CALL.
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THREATS & OPPORTUNITIES
Please identify the major threats and opportunities you see in your business:
Threats Opportunities
1. ____________________________ 1. ___________________________
____________________________ ____________________________
2. ____________________________ 2. ________________________________________________________ ____________________________
3. ____________________________ 3. ____________________________
____________________________ ____________________________
4. ____________________________ 4. ________________________________________________________ ____________________________
5. ____________________________ 5. ____________________________
____________________________ ____________________________
6. 6.
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HISTORICAL SALES DATA(Past 5 Years)
YEARVARIABLE
(1) Market Size - # Homes Sold in Your Entire Market- % Change vs. Year Ago
(2) Your Market Share (41) - %
(3) Your Average Commission per Transaction - $
(4) # Homes Your Team Sold - #- % Change vs Year Ago
(5) Gross Revenue (4x3) - $- % Change vs. Year Ago
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OBJECTIVES & GOALS
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BUSINESS GOALS
LEVERAGEPEOPLE MARKETING TECHNOLOGY
(1) ___________________________________________
___________________________________________
(2) ___________________________________________
___________________________________________
(3) ___________________________________________
___________________________________________
(4) ___________________________________________
___________________________________________
(5) ___________________________________________
___________________________________________
(6) ______________________________________________________________________________________
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VOLUME BREAKDOWN ANALYSIS
Use the following chart to map out what you will receive in compensation and what you'll give of your time toget it:
WHAT YOU'LL GET(1) I want to earn $ ___________________ in the next 12 months
WHAT YOU'LL GIVE
(2) I want to work ____ days per week
(3) I want to work ____ hours per day
(4) I want to work ____ weeks per year
(5) I intend to spend _____% of my timeworking onmy business, and
(6) _____% of my time working inmy business
(7) Therefore, I will spend __________(2)x(3)x(6)
hours per week working in my real estate
business, and this will earn me:
(8) $ ____________ per month(1)12 months
HOW YOU'LL DO IT
(12) I will earn an average commission of$________
(13) Therefore, I must close ________(1)(12)
transactions
My transactions will be broken down as follows:
(14) _________% from listings, and
(15) _________% from buyers
Therefore, I will sell:
(16) ________ listings, and accomplish(13)x(14)
(17) buyers' sides in the next 12 mos
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VOLUME BREAKDOWN ANALYSIS
The following chart will help you understand what you must accomplish day by day in the next 12 months in
order to achieve the goal you've set:
Listing Department Breakdown_____________________________________
(18) I know that _______ % of my listings sell
(19) Therefore, I need to take ________ listings(16)(18)
(20) I sign up _____% of sellers I meet with
(21) Therefore I must go on ________ listing(19)(20)
presentations by year end
This means I must go on:
(22) ______ listing presentations per month(21)12 months
(23) ____ listing presentations per week worked
Buyer Department Breakdown_____________________________________
(25) I know that _____% of my buyers signed tocontract actually buy
(26) Therefore, I need to sign ________ buyers(17)(25)
to contract
(27) I sign up _____% of buyers I meet with
(28) Therefore, I must make _________(26)(27)
buyer presentations by year end
This means I must make:
(29) _______ buyer presentations per month(28)12 months
Goal
I will sell ___________ Listing sides(16)
Goal
I will sell ___________ Buyer sides(17)
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LISTING/BUYER SOURCE
BREAKDOWNYou will need to ask yourself some important questions in the three key leverage areas:
LEVERAGE WITH PEOPLE
How many assistants will I need to hire?
What should I have these people doing? (Buyers Agents? Prospect Follow-Up Coordinator?Administration?)
When do I need to hire these people by?
What level of skill do I require of these people?
How much can I/will I have to pay them?
LEVERAGE WITH MARKETING
How much should I/can I afford to invest in marketing?
What media should I invest in?
What ads should I be running?LEVERAGE WITH TECHNOLOGY
What technology should I be investing in?
When do I need it by?
Listing Source Breakdown
_____ Databases_____ FSBOs_____ Expireds
BH f h d
Buyer Source Breakdown
_____ Ad Call Conversion_____ Sunday Tour_____ Free Reports
O S ll
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MARKETING
GOAL(S)
(1) ________________________________________________________________________________
(2) ________________________________________________________________________________
(3) ________________________________________________________________________________
IDEAS TO IMPLEMENT
(1) ________________________________________________________________________________
(2) ________________________________________________________________________________
(3) ________________________________________________________________________________
(4) ________________________________________________________________________________
(5) ________________________________________________________________________________
(6) ________________________________________________________________________________
(7)
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TEAM BUILDING
GOAL(S)
(1) ________________________________________________________________________________
(2) ________________________________________________________________________________
(3) ________________________________________________________________________________
IDEAS TO IMPLEMENT
(1) ________________________________________________________________________________
(2) ________________________________________________________________________________
(3) ________________________________________________________________________________
(4) ________________________________________________________________________________
(5) ________________________________________________________________________________
(6) ________________________________________________________________________________
(7)
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TECHNOLOGY
GOAL(S)
(1) ________________________________________________________________________________
(2) ________________________________________________________________________________
(3) ________________________________________________________________________________
IDEAS TO IMPLEMENT
(1) ________________________________________________________________________________
(2) ________________________________________________________________________________
(3) ________________________________________________________________________________
(4) ________________________________________________________________________________
(5) ________________________________________________________________________________
(6) ________________________________________________________________________________
(7)
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TRAINING & EDUCATION
GOAL(S)
(1) ________________________________________________________________________________
(2) ________________________________________________________________________________
(3) ________________________________________________________________________________
IDEAS TO IMPLEMENT
(1) ________________________________________________________________________________
(2) ________________________________________________________________________________
(3) ________________________________________________________________________________
(4) ________________________________________________________________________________
(5) ________________________________________________________________________________
(6) ________________________________________________________________________________
(7) ________________________________________________________________________________
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PAST CLIENT RETENTION
GOAL(S)
(1) ________________________________________________________________________________
(2) ________________________________________________________________________________
(3) ________________________________________________________________________________
IDEAS TO IMPLEMENT
(1) ________________________________________________________________________________
(2) ________________________________________________________________________________
(3) ________________________________________________________________________________
(4) ________________________________________________________________________________
(5) ________________________________________________________________________________
(6) ________________________________________________________________________________
(7)
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CUSTOMER SERVICE/REFERRALS
GOAL(S)
(1) ________________________________________________________________________________
(2) ________________________________________________________________________________
(3) ________________________________________________________________________________
IDEAS TO IMPLEMENT
(1) ________________________________________________________________________________
(2) ________________________________________________________________________________
(3) ________________________________________________________________________________
(4) ________________________________________________________________________________
(5) ________________________________________________________________________________
(6) ________________________________________________________________________________
(7)
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PERSONAL GOALS
Mental/
Financial Psychological Social Family Physical Spiritual
(1) _________________________________
__________________________________________________________________
(2) ___________________________________________________________________________________________________
(3) ___________________________________________________________________________________________________
(4) ___________________________________________________________________________________________________
(5) ___________________________________________________________________________________________________
(6) ___________________________________________________________________________________________________
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PERSONAL RATING ON THE
6 AREAS OF BALANCE1. FINANCIAL RATING ( )
STRENGTHS: _____________________________________________________________________________________________________________________________________________________WEAKNESSES: ___________________________________________________________________
_________________________________________________________________________________IDEAS TO IMPLEMENT:1) ______________________________________________________________________________2) ______________________________________________________________________________3) ______________________________________________________________________________4) ______________________________________________________________________________
5) ______________________________________________________________________________
2. MENTAL/PSYCHOLOGICAL RATING ( )
STRENGTHS: _____________________________________________________________________________________________________________________________________________________WEAKNESSES: ____________________________________________________________________________________________________________________________________________________
IDEAS TO IMPLEMENT:1) ______________________________________________________________________________2) ______________________________________________________________________________3)
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PERSONAL RATING ON THE
6 AREAS OF BALANCE cont'd
4. FAMILY RATING ( )
STRENGTHS: _____________________________________________________________________________________________________________________________________________________WEAKNESSES: ___________________________________________________________________
_________________________________________________________________________________IDEAS TO IMPLEMENT:1) ______________________________________________________________________________2) ______________________________________________________________________________3) ______________________________________________________________________________4) ______________________________________________________________________________5) ______________________________________________________________________________
5. PHYSICAL RATING ( )
STRENGTHS: _____________________________________________________________________________________________________________________________________________________WEAKNESSES: ___________________________________________________________________
_________________________________________________________________________________IDEAS TO IMPLEMENT:1) ______________________________________________________________________________2)
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STRATEGY
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STRATEGY
I will earn $ ______________ in the next 12 months. I will do this by closing ____________________
transactions (of which ___________% will be listings and _____________% buyer sides), and
maintaining an average commission of $ _____________. In order to accomplish this, I will
___________________________________________________________________________________
___________________________________________________________________________________
___________________________________________________________________________________
___________________________________________________________________________________
___________________________________________________________________________________
___________________________________________________________________________________
___________________________________________________________________________________
___________________________________________________________________________________
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ACTION PLAN
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BACK HALF ACTION PLANWEEK
INITIATIVE 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52
BUSINESS
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PERSONAL
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BUDGET
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12 MONTH BUDGET
REVENUE $ % of RevenueCommission Income $____________ ___________%Other Income $____________ ___________%
TOTAL REVENUE $___________ 100%
EXPENSESFEES
Listing into Board $____________ ___________%Board & Broker Fees $____________ ___________%Referral Fees $____________ ___________%
Other Fees _____________________ $____________ ___________%
SUPPLIES/LEASES/RENTRent $____________ ___________%Office Supplies $____________ ___________%
Equipment Leases $____________ ___________%
Phones $____________ ___________%Auto Insurance $____________ ___________%Sign Expense $____________ ___________%
Other _________________________ $____________ ___________%
Other _________________________ $____________ ___________%
SALARIESNon-Licensed Staff $____________ ___________%
Agent Salaries $____________ ___________%
Legal/Accountant $____________ ___________%
Prospect FollowUp Coordinators $____________ ___________%Other _________________________ $____________ ___________%Other _________________________ $____________ ___________%
OTHER
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MONTH BY MONTH BUDGET PROJECTION
INCOME/EXPENSE
CATEGORY JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
REVENUE
Gross Commission Income
Other Income
TOTAL REVENUE
EXPENSES
FEES Listings Into Board
Board & Broker Fees
Referral Fees
Other
SUPPLIES/LEASES/RENT
Rent
Office Supplies
Equipment Leases
Phones
Auto Insurance
Sign Expense
Other
Other
SALARIES
Non-Licensed Staff
Agent Salaries
Legal/Accountant
Prospect FollowUp Coordinators
Other
Other
OTHER
Travel Expense
Seminars
Coaching
Gifts Other
Other
MARKETING
Newspaper
Magazine
Direct Mail
TV
Promotion/Public Relations
Other
Other
TOTAL EXPENSES
NET INCOME
Net Income