With January behind us, now is an ideal time to plan for 2023 by creating a business plan complete with key goals and objectives. Business plans outline what you want to accomplish and the necessary steps to achieve those goals.
Creating a business plan each year will provide you with clarity about what you want the year to look like. Execution is much easier when you know what you want to get done and can visualize the steps needed to get there. Ensure your plan includes ways to grow your business including lead generation and customer retention. A monthly budget is also helpful as a way to plan expenses. Most marketing experts suggest real estate agents spend about 10% of their commission income on marketing.
“A well-thought-out business plan helps you to step back and think objectively about the key elements of your business and informs your decision making as you move forward. Keep in mind that the plan does not have to be like an encyclopedia and does not have to have all the answers,” according to the U.S. Small Business Administration.
While the real estate market for 2023 remains uncertain given changing interest rates and economic news, your goals of acquiring and retaining customers should remain consistent.
At LT.digital we generally recommend informing your sphere on a monthly basis about real estate trends and insights. This might be a postcard about a new listing you have, a property you closed on, or a monthly market trends mailing. Social media posts are also a great way to share market information with followers. Build ideas like these into your annual business plan and include your target audience and your budget. You may also consider asking your clients directly what type of information they are most interested in receiving from you.
Our savvy team is always here to help with any marketing needs you may have for the coming year! Visit our website to see our full library of products or order a custom solution.
Article source: www.sba.gov/blog/5-reasons-you-need-business-plan