Here are a few business tools you can use to start 2024 the right way.
As we get further into 2024, I’d like to offer you two simple tools to help structure the start of your new year.
The first tool is a break-even analysis, which is crucial for understanding what you need to achieve to reach a break-even point. Here are a few key items to consider, and I’ll provide a worksheet for your break-even analysis:
- Know your total cost of living.
- Understand your total outside income.
- Determine the net difference between your expenses and income outside the real estate business.
- Identify your average commission.
- Quantify the number of sales needed each month to break even.
The second tool is a 30-day business plan, seamlessly connected to the break-even analysis. Begin by noting the amount of money needed for the month. This clarity will guide your efforts. Fill in the plan with details such as:
- Number of closings required.
- Listing appointments, listings taken, and listings sold.
- Agency contracts and buyer sales.
Include the following in your 30-day business plan:
- Number of days dedicated to business development.
- Total hours spent on lead follow-up.
- Contacts made.
You can take it a step further by examining lead generation sources and skills to enhance during the month. For instance, consider working on your top 50 clients, engaging your database, and participating in events. Also, prioritize skill-building, such as refining coaching conversations or perfecting listing presentations.
To support your planning, 👉 click here to download the break-even analysis, and 👉 click here for the business plan. If you have further questions or need guidance, feel free to reach out for a one-on-one call. Alternatively, join our monthly events for valuable insights. I look forward to hearing from you.
