Business Planning 2011 & Beyond!

1. Business Planning2011 & Beyond! Corky Hyatt, CRB, CRS, GRI Missouri Association of REALTORS®

2. May I introduce to you Dr. Fred Grosse! Have a “10” Today! Document your “Mooring Lines” Practice your “Morning Ritual!” Enjoy your “Rewards!”

3. Dr. Fred Grosse’s 6 Rules • Recognize that life is primary; business funds life. • Uncover your passions and give yourself permission to celebrate them. • When working, only engage in top dollar-productive activities. • Delegate effectively, so you can work less and earn more. • Focus on what you can offer your clients, not what you can get from them. • Remember to give back to the community you live in.

4. What is Your Biggest Challenge Right Now?

5. What Have You Tried?

7. #1 of Top 7 Rookie Mistakes No Business Plan By Terry Watson!

8. Terry Watson’s Top 7 Rookie Mistakes! • No Business Plan! • Not using resources available to you! • Not maximizing your productivity! • Not earning REALTOR® designations! • Not purchasing equipment as a business entity! • Not crafting your message to prospects’ concerns! • No income buffer, passive income, or nest egg!

9. Poverty Mentality a way of thinking …perpetuates poverty … focus is on what one doesn’t have rather than what one does have. A common characteristic is making fear based decisions.

10. “Who Am I?” Audit

11. Where Am I Now? • Units closed this year? • Annual increase in the past 3 years? • Average Commission? • My average listing inventory • Seller inventory • Listings sold/year? • Percentage of listings taken/listings sold?

12. Sources of Business? • Whom do I prospect for seller listings? • Whom do I prospect for buyer clients? • How many contacts do I make a day? • Am I still mailing instead of contacting? (throwing $ at the business?) • How many property or buyer listings do I take each month? • How many contacts (How many presentations) does it take to sign a seller or buyer listing contract? • What’s my GCI? • What’s my annual expense %? • What’s my profit %?

13. Work On It & In It! • Initially, no less than 10% on it & 90% in it! • Increase “on” for increased results!

14. What’s My Bottom Line? • GCI?(Gross Commission Income) • Expense % (gross profit before taxes) • Profit? (gross profit before taxes) • Am I pleased with my numbers?

17. S.W.O.T. • Strengths • Weaknesses • Opportunities • Threats

18. Opportunities! Strengths! Weaknesses! Threats!

20. Threatsor opportunities?

21. Threats or Opportunities?

23. 4 Key Questions! • “So that I may better serve you, please let me ask you a question. • Of the following 4 options, which would your BEST FRIEND or your SPOUSE use to BEST describe YOU? • Straight-to-the-point! • Social and Outgoing • Stead and Dependable, or • Cautious & Perfectly Accurate? Michael Maher 7L

25. For theDominantperson, you will want to include executive summaries, bullet pointed key details, easy-to-find information that can be quickly reviewed; “executive” styling; bold. • For the Social/Influencerperson include color, interactivity, people-oriented materials; stylishly presented; recognition. Color flyers, web sites with flair. • For the Conscientiousperson include accurate details, full explanations; honest and straightforward; correct information; quality. Charts and graphs. • For the Steadyperson include information focused on security, dependability; remember their natural fear of change.

27. Weaknesses?

30. It’s Not Magic! • Mission • Vision • Values & Beliefs • Goals • Strategies • Action steps • Evaluation • Refinement & Redirection

31. Mission Statement • Ralph Roberts Mission: • Customer Focus • Personal Growth • Leadership • Team Concept • Profitability

33. Strategies? • “Strategic” planning requires that once your mission, vision, values, and goals have been defined, • You take the next step, creating strategies to accomplish your goals!

34. In the rectangle, Write a 1-sentence description of one of your goals for the next year!

36. What’s My Deadline?

37. Productivity&EffectivenessPlanning!

39. Work “Billable” Hours Billable hours = hours that produce income! • Prospecting, • Presenting, • Negotiating, • Closing & Follow-thru!

40. ALLAN DOMB REAL STATE    Philadelphia, PA Since 1980, Allan Domb and his highly reputable real estate brokerage firm have been known throughout the United States as key contributors to Center City Philadelphia’s luxury condominium market. Today, Mr. Domb continues to control 75% of Center City luxury condominium sales in buildings such as Academy House, The Barclay, Center City One, The Dorchester, Hopkinson House, Independence Place, Pier 3, Pier 5, The Philadelphian, Society Hill Towers and Wanamaker House. Nationally, Mr. Domb has been ranked the top producing residential real estate broker for the greater part of the past twenty years. Alan Domb • Allan is from your neighborhood. Working with an agent who knows your community can be vital to the success of your transaction. After years of personal and business interaction in the area, Allan has gained an in-depth understanding of the many factors affecting real estate transactions in Philadelphia. • Over 25 years of experience • Experienced and skilled negotiator • In-depth and active community member • Top producer • Detail oriented, trustworthy and committed to excellence • Extensive marketing and advertising background • Good rapport with lenders, appraisers and all other people involved with buying and selling real estate • Comprehensive knowledge of neighborhood marketing conditions • Totally committed to the luxury condo market • Allan has a a positive attitude, is a good listener and will go the extra mile to make your transaction as smooth and efficient as possible.

41. Protect PRIME Time! Prime time = “belly to belly” buyers & sellers • Prospecting, presenting, negotiating and closing plus following through! • NO Administrative tasks during PRIME TIME!Administer in non-consumer hours (early or late)

42. Eliminate $ Wasters! • Track “ROI” for all promotion expenses • Plan expenses a year at a time • Use a business budget • Hold yourself accountable to the plan and the budget • No more “just one commission” excuses! • If you need help, establish a “Board of Directors” with people you respect!

43. Practice Positive “Dumping” • Spam? (Panda, McAfee,Norton) • Spy-ware? • Use Message Rules in Outlook Express or Outlook • Auto emails into folders or • Delete them before you see them! • Capture leads with message rule flyers to emails from REALTOR.com leads, your firm’s website leads, or your own web leads

44. Do It Now! • Do it now! • Do it now! • Do it now! • Do it now! • Do it now! • Do it now! • Do it now! • Do it now!

45. Cold Calling’s Dead!So What? You never did it anyway!

46. Build My Referral Business!

47. Do youtrulydesiremassive success?

48. Read, Study, Adopt 7L!

49. Make Your BusinessTechnology BasedNotPaper & Clutter Based!

50. Where’s Tech Going?