It’s Time to Prepare for 2021!
We are only one week away from the end of 2020 which will surely go down in the history books as one of the most unusual years we’ve seen in a century. Indicators predict that 2021 is going to be a strong year for real estate. Are you ready?
Between the low interest rates, continued government stimulus, two vaccines now approved, and anticipated rapid job growth as soon as we get past the pandemic, 2021 is looking promising. We will have a few dark winter months ahead until the vaccines have been given to enough people to slow the spread. Until then, please stay vigilant, wear your mask, and socially distance. You know the drill. There is light at the end of the tunnel … stay strong until then.
Today I want to talk to you about thinking about your 2021 goals. I hope you’ve dusted off your business plan from last year and updated it with everything you want to do differently in 2021. It is time to run some scenarios with your business plan. What would be required to make $200,000, $500,000, $700,000? Your business plan should allow you to run different scenarios to see what activities would be required every week to hit different goals. You can then decide how hard you want to work next year.
When thinking about your 2021 goals, it goes beyond just thinking about your business. Your plan should include goals for every aspect of our life. We don’t live in silos. You should think of your plan as a “life business management plan”. You need to set goals in six different areas to ensure you have work-life balance and can enjoy your life along the way.
Business
What goals do you want to achieve in your business in 2021? Not just the amount of money you want to make, but what new systems and marketing do you want to implement? Do you want to hire an assistant? Do you want to invest in a new geo farm? All of this takes planning. What resources will you need (time, money, and energy) to achieve your goals? Update your budget for these new expenses and set timelines for completion.
Physical Health
If you are going to have a successful year in business, you need to be a good physical shape. We must take care of our health or our business will suffer. What are your health goals for 2021? Do you want to go the gym? Yoga? Daily walks? We often feel taking time out of our day to exercise takes away from our business, but if we don’t take time to take care of ourselves it will affect our business later. We need to find balance. If we stay in great shape, it allows us to drive our business to peak performance levels.
Emotional Health
What will you do in 2021 to maintain your emotional health? This year has been very stressful on everyone. You will never be as successful as you want to be in business if you don’t feel that you are emotionally up for the opportunity. No one wants to buy a house from a sad real estate agent. Do you want to set time aside every day to pray, meditate, or self-reflect? We often get busy with the busy stuff in life and we put our emotional health on the back burner. You must schedule time on your calendar every week to work on your emotional health. To reflect on who you are now, and who you want to become.
Relationships
If you don’t find time to spend with the people you love, they will find someone else to love. There needs to be a date night on your calendar every week with your partner (and leave your phone at home, so they have your undivided attention)! You need to set time on your calendar for the kids (going to their soccer game or baseball game, having family dinners, or even just helping with their homework). You need to set time aside to visit with friends and enjoy fun activities to keep your friendships strong.
Time Management
To get the most out of every week you must be thoughtful about your schedule and which activities you will slot into which time slots. You can’t manage your time, but you can manage your schedule and activities, and you can set your priorities and to do lists to ensure you get the most out of every day. Your goals should live in your calendar, otherwise you won’t achieve them. Pre-plan your week. Time block everything that is important (both personal and work commitments) and leave open blocks for last-minute requests. By the end of the week, it won’t be perfect, but it will be much better than what you are doing now.
Finances
Most people think finances and business are the same, but they are not. There are agents who make a lot of money selling real estate, they just don’t keep any of it. They spend money like drunken sailors. How much debt are you carrying? How much do you want to pay off in 2021? How much do you need to put aside for retirement? Have you met with a financial planner to set up automated monthly payments (set it and forget it)? These are great goals to add to your plan for 2021.
The key to success is balance.
If we are too invested in one area, we suffer in another areas. Balance is not easy. It takes planning!
How do you choose your goals?
Set 1-2 goals in each of the six areas mentioned above. Rank where you are now on a scale of 1-10. Where would you like to be by the end of 2021? What will you need to do to achieve it?
Which goals are your priority?
You can’t tackle several goals all at once. It would be paralyzing. Pick a couple of goals you want to start with and prioritize them on your schedule. Once you have accomplished them, you can add 1-2 more goals. Don’t forget to add in some rewards to stay motivated. Remember, balance is the key. You can’t make as much money as you want if you are not in tip-top shape, both physically and emotionally.
Chris Leader
President
Leader’s Edge Training