It’s officially 2012 and it’s time to kick your business planning into high gear if you haven’t done so already. This month, we’ll be exploring the benefits of REI business planning. You’ll learn a lot about how to put your plan on paper and how to use this tool in sales, tracking and growth.
Today, I want to give you the why of having a business plan. A business plan helps you build the framework for your real estate business. And that framework is simply Find, Fund, Manage and Exit. If you apply this mindset to your business and every deal you do, you can find huge success. KISS is a foundation of this business and we’re going to keep it that way. So, why do you need a plan if you use this framework? Because when you have clearly defined how you’re going to find deals, fund them, manage them and exit them, you are prepared. You have all of the questions answered. You will have solid strategy for talking with partners and investors. You will be at the top of your game. A plan helps you focus.
Another why is that there are so many strategies for finding the deals and funding the deals. A business plan helps you focus on the best strategies for your particular portfolio of real estate investments. A plan helps you talk the talk and walk the walk. When you have a clear vision statement and metrics developed for your REI business, you can better approach prospective investors and partners. Know why? You know what you want from them and more importantly what you have of value to offer them.
A plan helps you build your website.
Your lead-generating website requires hard-hitting purpose to convert those visitors to leads.