Why You Need Goal Setting to Go from 0 to 2,000 Leads
Resource Library Blog

Why You Need Goal Setting to Go from 0 to 2,000 Leads

A wise person once told me (yesterday), I’m super excited about idea generation and planning, but I focus a little too much on the pie in the sky, and not enough on the day-to-day steps to get there.  

BoomTown’s job is to make you successful. And the space between Step One and Success is filled with those day to day tasks that may not be the most fun, but they are the most valuable.

We want to make the magic happen, and we all want to reach the pie in the sky.

So. Let’s go get that pie! In this article we will review the following steps:

  1. Pre-Goal Setting Data Exploration
  2. Working from the Bottom Up
  3. Trimming the Excess for Efficiency
  4. Accountability
  5. Pie in the Sky (#goals)

 


Start with Last Year’s Data

Do you have your year to year data from last year? If not, start compiling. It is a futile practice to compile a whole slew of upcoming goals without anything to base them on. We aren’t talking about going to the gym here. No, now that would be easy. (Said no one after January).

We are referring to your amount of leads generated month by month, transactions closed, repeat clients, first time clients, total income, total expenses, etc.

If you don’t make a practice of compiling this data for yourself or your team, then start today.

Seriously. If you do not have a business plan and individual daily tracking, make one right now.

Not only is it super satisfying to watch your numbers grow, but this practice immediately helps you build upon your current numbers.  

At minimum, every member of your team, even if it is a one-person real estate show, should keep track daily of:

  • Leads Generated (or Provided) 
  • Contact Made And Still In Follow-Up
  • Transactions Closed
  • Total Earnings
  • Total Expenses

Like the Constitution, your business plan is a living, breathing document. It is meant to grow and amend and change as you do the same.

For brokers: It is your job to maintain a bird’s-eye-view of the entire business’s numbers.

For agents: You need to keep track of your own activities and how they relate to the larger plan of your brokerage. You’ll see the term “contact made, still in follow-up” in the list above, because it is important to prove that you take advantage of the leads given to you or generated by you.

Once you have these numbers put them in whatever doc you need, I would suggest if you are just starting out use Google Spreadsheets. And we can move on to the next step.

 


Working from the Bottom, Up

We recommend setting a goal for your coming year based upon the previous year’s numbers and your current capacity.

1. Start with the number of transactions you were able to achieve last year.  

For example, if you closed 45 transactions at a 3% conversion rate. The leads you needed to generate at minimum, were 1,500.

2. Remember this is a funnel. So you start with a much larger lead number, and have to remember how many leads you feasibly will get to the closing table.

3. Next establish how many transactions you would like to acheive in the coming year based upon your current capacity, lead generation increases, hiring, etc.

Let’s say you want to increase to 60 closed leads this year. If your conversion rate is going to stay constant, you will need at least 2,000 leads.

4. Calculate your expected expenses plus the increase needed to generate more leads (scroll down to see how you can “Trim the Excess” to become extra efficient).

5. Total IncomeTotal Expenses = Pie in the Sky

 


Build Better Processes by Trimming the Excess

Great job. You have arrived at your pie in the sky goal, but now you need to build the steps. This is the time to review your current processes and build out what future processes will be required to achieve your new goals.

Assess each step along the way to your pie:

  • Generating leads.
  • Converting leads.
  • Logistical details of following up with those leads.
  • Transaction time and expenses.
  • Managing yourself or a growing team.

These processes and the day to day goals bring us back to the business plan.

If you do not track, you go back. And repeat. And repeat. And repeat.


Where along the way can you trim the excess in your processes?

  • Do you waste enough time with logistics to merit an assistant?
  • Are you matching specific types of leads to the best fit person on your team?
  • Could you nix a certain lead generator? Or better question, which lead generating tools are your most valuable, and worth expanding your campaign?
  • What processes are the most time consuming?
  • Is there a technology that could take away the busy work? (Hint: yes there is).

These are the simple steps that will help you not only reach your goals, but soar above them. With a little time and concentration, creating more concentrated processes will pay off in both work and life.

 


Accountability Counts

We’ve been in business for over a decade and endless brokers and team leads have expressed their frustrations over setting goals that are never met.

The challenge presents itself when you can’t hold others accountable to these goals.

And again, the business plans present themselves. So, do yourself a favor and:

  1. Create a specific business plan for the entire setup.
  2. Create individual business plans for yourself and any team members.
  3. Update those business plans on a daily basis.

Brokers such as Kevin Smits check-in daily with their agents. If they are receiving leads, then they are reporting on their progress. A system which has served him and his business well. 

(Read More Here)

If you are checking in on a daily basis, and keeping track of the numbers, then you’ll know if you need to adjust as the year goes on. These check-ins are vital to building a practical business built upon realistic growth.

 


The Pie in the Sky (#goals)

We want you to reach your pie in the sky. There is no better feeling than bringing your own business to an established goal. Even better if you far surpass it.

But you MUST track your numbers and build upon those numbers in order to reach that goal.

Fortunately for you, BoomTown has several solutions catered towards creating opportunities that make you successful on a daily basis. If you aren’t already a BoomTown client, and would like to learn more, you can call us at (855) 771-1439.

Or learn more by clicking the link below. Good luck goal setting!


BoomTown Real Estate CRM

Don't miss the conversation.

Join thousands of real estate professionals and get the strategies you need, straight to your inbox.

Give it a try. It only takes a click to unsubscribe.

Similar Content


7 Ways to Get More Seller Leads (Beyond Just Direct Mail)

A strong seller lead strategy is crucial for a profitable real estate business. Use these tips to go beyond just direct mail campaigns and find new opportunities to score seller leads.




How To - November Graphic

FREE DOWNLOAD

3 Common Problems for Real Estate Agents
(and how to solve them)



Speed to Lead

FREE DOWNLOAD

The Modern Agent’s Guide to Social Media Strategy



Speed to Lead

FREE DOWNLOAD

If you don’t follow up, someone else will. Here you’ll find some surprising numbers about speed-to-lead and learn how YOU can take advantage of missed opportunity ($)



The Essential Guide to Building a Real Estate Business

Ask yourself, do you want to sell houses for the rest of your life or do you want to build a thriving business? In this guide, Jeff Cohn, founder of Elite Real Estate Systems, teaches us how to focus on being a business owner and not just an agent.




Download the Tip Sheet

5 Powerful Business Tips from Steve Harney




Download our Free Guide

The 3 P’s for Winning Listings




Download

4 Steps to a Winning Listing Presentation

It’s time to learn how to land any listing. Here are 4 tried-and-true tips for preparing a listing presentation that wins every time!




Download the Tip Sheet

4 Pillars to Creating & Maintaining a Successful Lead Management Program




7 Tips to Getting Your Agents to Adopt New Technology

They say a tool is only as good as the one who wields it…and this couldn’t be more true with real estate technology. Here you’ll learn how to assure (once and for all) that your agents will adopt the technology that you’ve invested in.




Download the Tip Sheet

Powerful Prospecting Lessons to Build Your Business




Download the Tip Sheet

How to be a Winner in the Real Estate World




How to Structure Your Team for Lead Follow-Up

Lead follow-up is oftentimes what separates the good from the great. In this guide you’ll learn how to structure your team (from the top) for smooth and effective lead follow-up.




Say Hello to Hiring: The Essential Guide to Growing a Team

Expanding your real estate business is an exciting and lucrative time. And in real estate, we know it’s all about your people. Check out this free guide with tips for effective hiring practices.




The Modern Real Estate Chief Marketing Officer

In real estate today it’s not enough to just be great at selling houses. In this guide we’ll cover how and why you should consider investing in a Chief Marketing Officer.




Download

6 Tips for Standing out Against Competitors [Free Tip Sheet]

In real estate, things move fast and the competition doesn’t sleep. So, what are you doing to stand out? In order to be the go-to agent, you need to be one step ahead of your competitors. Start with these 6 quick tips.




Register for the Series

Fill out this form and register for all of our upcoming webinars at once!





Ready to see a demo?

See what BoomTown can do for your business.





FREE: 1-3-5 Goal Setting Template

Turn dreams of success into celebrations of success. Stay on track with our goal worksheet.


Seller Lead eBook

How Top Agents Survive (and Thrive) in a Turning Real Estate Market

What do you do when the real estate market shifts? When the pendulum swings from buyers to sellers (or vice versa) in your market, make sure you’re ready.



FREE SCRIPTS

Want to handle objections like a champion?
Download our scripts playbook!




Seller Lead eBook

FREE DOWNLOAD

Convert seller leads. Get the best strategies to conquer listings in your market.



The Real Estate Teams Playbook

We partnered with REAL Trends to conduct interviews with thousands of real estate professionals and the industry’s top performing teams. This playbook contains all of their best strategies for starting and growing a team as well as the systems that must be in place to ensure long-term success.