Hey, it’s Big V. I’d like to explore one of the most important steps to building a successful real estate business: creating a powerful business plan that not only helps your business grow, but also aligns with your ideal lifestyle. So, if you’re ready to ramp up your real estate game, keep reading!
Where Do You Want to Go?
To kick things off, I want you to take a moment and think about where you really want to go. What are your big, audacious goals? Where do you see yourself in five years, three years, one year, and even six months from now? When planning, start with your life first, not your business. Too many people get this backwards, and they end up building a business that consumes their life. Your business should support the lifestyle you want—not the other way around.
The key here is to find your “why.” What’s the real reason you’re doing all of this? When we have a clear and compelling “why,” it’s much easier to push through the tough times and stay motivated.
Conducting a SWOT Analysis
The next step is to conduct a SWOT analysis—an honest evaluation of your strengths, weaknesses, opportunities, and threats. But here’s the twist: I want you to ask for outside opinions too. Get feedback from people you trust—like family, friends, or colleagues. They might see things about you that you don’t. Your strengths are your unfair competitive advantages—things that make it “not fair” for others competing with you. Weaknesses are areas you struggle with, and it’s okay to acknowledge them. In fact, I recommend delegating them whenever possible so you can focus on what you do best.
Opportunities are areas you can leverage for growth. Look outside your usual perspective; talk to mentors or people in different industries—they often see things we miss. Finally, threats are external challenges you can’t control, but you need to be aware of them to adjust your messaging accordingly.
Turning Strengths into Success
Now that you’ve got your SWOT analysis, it’s time to take action. Focus on how you can use your strengths to capitalize on opportunities in the market. Love digital marketing? Lean into that. Have a strong construction background? Target small builders. Your business should be built around what you’re naturally good at and passionate about.
As for weaknesses, stop focusing on them. Find someone who excels in areas where you’re weak and delegate those tasks. You’ll be more productive, and they’ll be doing what they love. It’s a win-win!
Creating Four Pillars of Income
One of the most powerful strategies I share with clients is building the “Four Pillars of Income.” Imagine you want to sell 20 homes this year. Instead of relying on just one income stream, I want you to build four—each capable of delivering that full goal. For example, open houses, digital marketing, working your sphere of influence, and new construction leads could each be a pillar.
By focusing on four pillars, each designed to hit your target, you’re positioning yourself to exceed your goals. Even if only two or three of those pillars work out, you’ll still be ahead. This concept of “failing up” is incredibly powerful, and it virtually guarantees that you’ll reach your goals.
The Goal Achievement System
Now, let’s talk about the Goal Achievement System. In your business plan, define your goals across different areas—family, fitness, finances, and more. Why is each goal important to you? What are your excuses for failure? Write them down, and then resolve each one before they become real obstacles. With a solid action plan for each goal, you’re far more likely to achieve them.
Let’s Get Started!
Finally, if you’re serious about building a seven-figure team, you need the right support. Who’s your coach? Who’s in your corner giving you the roadmap to success? If you don’t have a coach, consider reaching out to Workman Success Systems to find your fit. I promise you’ll walk away with actionable ideas, whether you join our coaching program or not.
Take our 2-minute Find My Fit assessment to get started!
Let’s go out there and build the life you deserve!
