5 Components of Every Successful Business Plan
In this post we’ll identify and discuss some helpful guidelines for writing your overall business plan as a real estate sales associate. Without putting it in words, unwritten business plan is just wishful thinking. Therefore, the process of writing your business plan is just as important as the result because writing forces you to examine your assumptions and analysis more carefully. And although there’s no established template that is always used, any well-rounded business plan will include the following elements:
- A mission statement.
This is a statement that clearly expresses the exact nature of your business. It’s the guiding light for everything your business does. Regardless of the particular activity in which you are engaged you should be able to articulate how that activity relates to the mission statement.
- Achievable goals
These must be measurable and consistent with your mission statement. Reverse engineering begins with the desired result. Your business plan will include the steps to achieve your goals.
These are measurable milestones that must be accomplished to achieve your goals.
This will determine the amount of money you will have for marketing and promotion.
- Action Plans
These specify what you’re going to do, how you’re going to do it, and when you’re going to do it. It also includes your marketing and personal promotion plan.
Keep these 5 components in mind when drafting your own business plan and you’ll be more likely to make it a successful one. Note: Traditionally, a business plan is prepared to seek financing, especially a loan from a bank or venture capital. However, it’s helpful to consider your business plan in those terms even if acquiring financing is not currently a necessity for you.
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Utilizing 30 years of real estate training and professional education experience, Florida real estate school Larson Educational Services is the premier provider of Florida real estate licensing, exam preparation, post-licensing, CAM licensing, mortgage loan originator licensing, and continuing education in Southwest Florida. Classes are available in Fort Myers, Naples, Sarasota, and online.
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