By: Holly Priestner | Director of Talent Acquisition and Engagement
Success is simple, not easy. One of the simplest things you can do to grow your business is to have a clear, simple business plan. Maybe you are just starting out and YOU are the business OR you might have a growing empire with numerous talented team members. Regardless of size or where you are in your business journey, it is important to stay focused on your key objectives, not chase shiny objects and keep the entire army of talent marching in the same direction. It’s when we have too many ideas or too many priorities that we are unsure of where to start, get stuck or focus on too many things so that nothing gets accomplished.
Keep your business simple with the expandable business plan, or, 1-3-5 as it is called in the Keller Williams world.
Step one: Identify one big goal that your entire organization is marching towards. For example,
Super Team will close 100 units resulting in $30 million in volume, $900,000 gross commission income and $270,000 in profit.
Step two: Identify three priorities that will result in your goal. In referring to our example goal, Super Team’s priorities would be tied to the list side of the business, the buy side of the business and operations. Let’s look at an example for the priority focused on listings.
Super Team will close 50 listings through 77 listings taken and 118 listing appointments. (In this case, we are assuming a 65% conversion ratio.)
Step three: For each priority, identify five tactical strategies that will help you achieve the priority.
In Super Team’s example for the priority focused on listings, the strategies would be tied to lead generation activities, client events, database additions, a new production initiative and Internet leads.
Don’t get fancy. If you are in real estate, your strategies for the list side will probably mirror the buy side. Remember, success is simple, not easy and this tool is to provide laser focus.
The goal, every priority and every strategy should be SMART.
Specific
Measureable
Attainable
Relevant
Time stamped
If turned on its side, the 1-3-5 becomes an organizational chart — or an aspirational organization chart. Someone should own each priority. As the “owner” of each section goes back into their department of your organization, their personal 1-3-5 and those of their smaller team, should be built around the larger organization’s. This keeps everyone moving in the same direction and eliminates conflicting interests for resources.
Download a template here. If you are searching for additional resources, here is a live video of Xperience CEO Chris Suarez explaining the The Expandable Business Plan with a related blog post, Real Goals and The Expanded Business Plan.