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By Matt Brown

Matt Brown is a 20-year real estate industry veteran and has worked every aspect of the industry representing sellers, buyers, investors, and banks, in both the residential and commercial markets.

Today we will explore a simplified approach to business planning known as the GPS method. Rather than sifting through countless pages of a traditional business plan, the GPS method focuses on three key elements: Goals, Priorities, and Strategies. By condensing your business plan to a single page, you can streamline your focus and achieve greater clarity. Let’s dive in!

The first step in the GPS method is to establish a clear and measurable income goal. For instance, let’s say your target is to earn $100,000 or $150,000 this year. By starting with a specific income goal, you can work backward to determine the number of appointments, leads, and closings required to achieve it.

Next, we move on to the priorities. While there is one overarching goal, we identify three distinct priorities contributing to its attainment. These priorities should align with the goal and serve as stepping stones toward its realization.

  • People you know. The first priority revolves around nurturing relationships with individuals within your existing network. To accomplish this, consider implementing strategies like the “36 touch system,” where you regularly reach out to your sphere of influence. Additionally, you can invite them to events or engage them in activities that foster deeper connections.
  • People you don’t know. Expanding your reach beyond your immediate circle is vital for growth. Here, the focus is on finding and connecting with new prospects. Some effective strategies include reaching out to local businesses to explore collaboration opportunities, hosting open houses, conducting door-knocking campaigns in specific areas, and leveraging social media to run targeted advertisements.
  • Education and professional development. To excel in your industry, continuous learning and skill development are crucial. Allocate time and resources to enhance your expertise by engaging in podcasts, reading books relevant to your field, attending industry events, and actively participating in networking groups. These educational pursuits will contribute to your growth as a real estate professional.

“Streamline your business plan into a concise, one-page document.”

Finally, we come to the strategies. Each priority requires a set of strategies that will serve as the actionable steps toward achieving your goals.

  • Strategies for people you know. Consider implementing the “36 touch system” as a comprehensive approach to staying connected with your existing network. This can include regular phone calls, inviting them to events, and finding creative ways to engage with them throughout the year.
  • Strategies for people you don’t know. To reach out to new prospects, establish relationships with local businesses, actively participate in open houses, conduct targeted door-knocking campaigns, and leverage the power of social media to connect with potential clients.
  • Strategies for education and professional development. Allocate time for personal growth by actively engaging in podcasts, reading industry-related books, attending relevant events, and participating in networking groups. These efforts will enhance your skills and knowledge, ultimately contributing to your success in the real estate industry.

By focusing on clear goals, identifying priorities aligned with those goals, and implementing actionable strategies, you can navigate your path to success with clarity and efficiency. If you have any questions, don’t hesitate to reach out to us by phone or email.