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Welcome to…..

Welcome to…. RI Module 409 : Business Development. Course Objectives:. Upon completion of this course, you will be able to: define the difference between a goal and an activity. formulate an effective and measurable business plan. Course Objectives:.

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Welcome to…..

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  1. Welcome to….. RI Module 409: Business Development

  2. Course Objectives: Upon completion of this course, you will be able to: • define the difference between a goal and an activity. • formulate an effective and measurable business plan.

  3. Course Objectives: • determine when a personal assistant is needed, develop a budget for hiring, and develop a job description for an assistant • identify professional networking opportunities  • identify ways to retain current clients and make them permanent, i.e. “clients for life”.

  4. Building a Positive Professional Image: *Show consideration *Self-confidence *Communication

  5. Mission Statement & Establishing Goals

  6. A Mission Statement Allows You To: • 1. Examine your innermost thoughts & feelings • 2. Clarify the purpose of your life • 3. Identify what’s really important to you---in your business and your personal life

  7. Developing & Writing Your Mission Statement:

  8. Setting Goals: “If you fail to plan, you plan to fail”

  9. How Do You Get To Rockefeller Center?

  10. Short-Term Goals: • Achievable • Measurable • Deadline-oriented • Compatible with long-term goal • Should be in writing

  11. Long-term Goals Require Decisions Regarding: • Money • Hours of work • Sacrifices • Relationships • Health & recreation • Other time commitments (volunteer work, etc.) • Spiritual needs

  12. A Successful Business Plan Includes: • Goals • Objectives • Action Plans • Daily Actions • Personal Promotion Plan • Budget

  13. My Five Business Goals Are: • Write them down on Page 14

  14. Now Prioritize Your Five Business Goals

  15. Write Short-term Goals and Action Plans for Your Top Two Goals Starting on Page 16

  16. After Class, Complete the Balance of Your Goal Writing • Constantly Evaluate Your Goals • Ask yourself: What have I found to be the toughest aspect of writing and sticking to goals? • What can I do to overcome this obstacle?

  17. Complete Your Financial Analysis Beginning on page 20 If you completed it prior to attending class, give yourself a well-deserved break!

  18. What Did You Learn from Completing the Financial Information?

  19. Business Sources and Networking • Identifying your SOI---Sphere of Influence!

  20. My Top Three SOIs Are: 1. 2. 3. (enter them on page 28)

  21. Develop Your Marketing Plan

  22. Personal Assistants and Groups/Teams

  23. The “Dream List” of Tasks for a Personal Assistant include: 1. 2. 3. 4. 5. 6. 7. 8.

  24. Questions to Answer Regarding a Personal Assistant • Full or part-time? • Activities to perform? • Skill sets required? • Resident in office or virtual? • How to compensate? • Time/patience to train? • Write out a job description

  25. Attracting, Interviewing and Selecting An Assistant

  26. Should You Hire a Licensed or Unlicensed Assistant?

  27. Benefits of Working as a Team: 1. 2. 3. 4.

  28. Detriments of Working as a Team: 1. 2. 3. 4.

  29. Planning Your Budget

  30. Projected Annual Income Goal Projected income goal $____________ divided by 12 = $__________ average per month to reach my goal. Each month, I must sell ____ # of homes (sides) at an average sales price of $___________ in order to meet my monthly projected income of $_____________.

  31. Prioritizing Your Time to Generate Business

  32. Determining the Cost of a Transaction Side Last year’s expenses divided by the number of transaction sides you did (one side per listing; one side per sale) Example: $36,000 expenses divided by 20 sides = $1,800 cost per side

  33. Projecting Income and Closed Transaction Goal • Use last year’s production as a “benchmark” a. Last year’s income _________ (a) b. # of closings last year _______ (b) c. __________ (a) divided by _______(b) Equals _________________ (Average Income Per Closing)

  34. Projecting Income and Closed Transaction Goal • Estimate the number of closings necessary to meet next year’s income goals a. Income desired ____________ (a) b. Average Income Per Closing __________(b) c. __________ (a) divided by ____________(b) Equals _________________ (Total Number of Closings Needed to Reach My goal)

  35. Finalizing Your Business Plan ---on page 42

  36. Your Daily Planner Question: What do you use and how is it working?

  37. Your “To Do” List ---on page 44

  38. Time-saving Tips: What Works for YOU?

  39. Name Three Steps You’ll Take to Implement What You’ve Learned Today: 1. 2. 3.

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