As we inch closer to the end of another challenging yet rewarding year in real estate, it’s time to set our sights on the horizon and prepare for 2024. In this fast-paced, ever-evolving industry, planning and preparation can make all the difference.
Let’s explore the significance of setting clear goals, crafting a solid business plan, and employing the 80/20 rule to steer your real estate ship to success in the Phoenix, AZ metro area!
The Power of Clear Goals and Business Plans
Real estate is a dynamic field, especially in markets like Phoenix, where fluctuations are common. To navigate this terrain effectively, you need a roadmap. Start by setting clear, concise, and achievable goals for 2024.
These goals should encompass both your personal and professional aspirations. Whether it’s increasing your transactions, expanding your network, or entering new markets, writing them down is the first step toward bringing them to life. I recommend a 1-year, 3-year, and 5-year business plan, CLICK HERE to send us an email if you would like a plan.
Weekly Goal Revisits: Stay Focused and On Track
It’s not enough to set goals; you must revisit them regularly! Make it a habit to review your goals every week! This simple act keeps your objectives fresh in your mind, ensuring you stay focused on your vision.
The Phoenix real estate market, like many others, can be demanding and competitive. Regularly revisiting your goals is akin to recalibrating your compass. It helps you stay on course, even when faced with challenging market conditions.
Follow the Power of the 80/20 Policy from Google for Execution
It’s often referred to as “20% time” or “innovation time.” Google’s approach of allowing employees to spend 20% of their work hours on projects of their choice has indeed led to several innovative projects and is considered one of the factors behind Google’s success.
This concept encourages employees to allocate a portion of their time to explore new ideas, develop creative solutions, and innovate outside of their primary responsibilities. It’s an excellent example of how a company can balance core tasks with innovation to drive progress and remain competitive. The point is 80% of your time should be spent working on your primary activities, goals and improving your work habits to achieve them!
Charting Your 2024 Success
The Phoenix, AZ metro real estate market presents unique challenges and opportunities. By setting clear goals, creating a robust business plan, revisiting your objectives weekly, and embracing the 80/20 rule, you can pave your path to success in this demanding landscape. As you gear up for 2024, remember that planning and preparation today will drive your accomplishments tomorrow.
If you want help crafting or editing your 2024 Business Plan, schedule a time to meet with us! Maybe you want some advice, tips or tricks, the Sibbach Team is here for you!
