Developing Your ABS!!!!! (Advanced Business Systems)

So much of media hype these days centers around having perfect bodies! Everywhere you turn there are diet books, exercise programs, and fitness guru's. What about your business health???? After authoring a satirical blog on Botox, a fellow-blogger Michael Sahlman suggested that I write something on developing your abs...here it is Michael! (If you're inclined, check out Michael's Website).

The state of the market has made it imperative to try new approaches (or old ones revisited). With that in mind, here are my tips for developing your ABS - Advanced Business Systems:

#1 - Activity: EVERY day that you work you must create result-oriented, focused ACTIVITY. Gone are the days of donut-munching and newspaper reading (or aimless web surfing!) (NOTEl DO NOT DO THIS!)

WHAT IS RESULT-ORIENTED, FOCUSED ACTIVITY? A typical day of focused activity might look like this- couple of hours of prospecting (I know, I hate to do this one too!). Prospecting is any activity that is made with the end result of making contact with people who may either be buying or selling real estate.

I am a Buffini graduate. The Buffini course is designed to start with your SOI (Sphere of Influence) and blossom out so that each day at least 5 people are contacted by you (preverably through the old-fashioned method of handwritten notes). For more info go to their website: www.buffiniandcompany.com

Then the activity could shift into following up on listing activity. I call or email agents who recently showed my listings to get feedback; this way I know if a price adjustment or other activity is in order for the listing. If you are a buyer's agent, today's buyers are very internet savy and they expect a lot from their buyer's agent. I contact all my buyers consistently...via emails highlighting new listings on the market, or contacting them when previously-shown homes had a price reduction!

#2 - You need a Business Plan! My rationale is simple: how do you get what you want if you don't know what that is???? And how to get there? (I've been in this business 21 years! How many business plans? You guessed it: 21). A business plan doesn't have to be complicated; mine is only one page. But it must be specific!

Business plans could include the following:

(a) General Goals - whether they be financial, educational or logistical. My goals are usually how much money I intend to net a year, how many transactions I will list and sell, and what educational goals i will achieve.

Last year's goal was to find a new job ( I was working at RE/MAX and really wanted to "jump out of the balloon" as one blogger put it, and within months two partners and I found the perfect opportunity! We bought Coldwell Banker Wright Realty, an existing realty company in Conway, NH (www.wrightrealty.com)

(b) Marketing Goals - These goals are designed to match activity with planned growth. Some ideas might be to set up databases for consistent mailings; our office sends inexpensive "Just Listed" and "Just Sold" postcards. Another thing we do is virtual tours for all our listings over $300K. I suggest that you allocate a marketing budget for the sole purpose of marketing! I've found that systematic, consistent marketing works best! And yes, blogging is considered marketing!

These marketing goals work hand-in-glove with the Buffini program; i use some marketing dollars for implementing referrals and client-contact (eg. notecards and "freebies" for clients)

(c) System Goals - I call these "system" goals for lack of a better word but really what it means is putting systems in place that support your business; this year I had "Buy a Flip video camera" on my systems list...it has turned out to be an awesome investment!

#3 - System Implementation: All of the above ideas will do nothing if they are not implemented. As part of your business plan, include timelines or "by when" you will achieve certain milestones...I also encourage people to educate themselves, whether through your local board association or going online to www.realtor.com. There are many opportunities to better yourself and to

grow your business!

Finally, we live in a world where we may find ourselves as realtors obsolete because of the information channels offered by the internet. Therefore the more value you give to your clients the more indespensable you will become to them.

HAVE A HAPPY AND PRODUCTIVE WEEK!