5 Ways to Set Goals for your Business in 2021
At the beginning of a new year, we can feel a lot of pressure to make big changes. In the real estate space, it seems everyone welcomes the new year as a fresh opportunity to cultivate success. And, as we say goodbye to 2020, it’s the perfect time to set new goals.
Stephanie Noble, the Founder of Thrive Real Estate, works on her goals for the year.
Making the most of this momentum isn’t difficult… but it does require effort. While it may seem easy to set goals, there’s much more to it than just daydreaming about far-fetched ideals.
Goal setting requires due diligence, contemplation, and time spent envisioning your career path.
New year or not — everyone should be setting goals for their business. Otherwise, you’re not maximizing your potential. Setting a goal means strategizing the entire step-by-step process until you make it happen. This is especially important in the world of real estate since it’s often a self-motivated business. Agents need to be their own leaders and take initiative.
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If you want to build the real estate career of your dreams, what are you waiting for? Start now with these 5 tips for setting business goals in 2021:
1. Audit Your Current Performance
Goals always need to be rooted in a starting point. Before you can approach outlining your goals, you should get clear about where you are right now.
Setting smart goals is a well-known goal setting strategy, but the only way to do that is to audit your business. There’s a reason why today's most powerful businesses are data-driven. The more you know, the more specific your actions will be to bring about change.
Always be meticulous about your goals. Dedicating time to perform a full-bodied performance audit for your business can reveal weak points that need to be addressed. This will also help set achievable, clear, and well-informed goals for your business.
2. Get Creative with Synergistic Goals
Your real estate goals don’t need to be exclusive. In fact, agents can generate even greater results by setting goals that work together. Getting creative and operating from the “big picture” perspective can give rise to a set of similar goals. That way, every small effort becomes as effective as possible.
For example, two synergistic goals could be to increase your closing volume and improve your CRM habits. Having a consistent process for inputting lead and activity data into your CRM is so critical for keeping your book of business up to date. This, in turn, will make your prospecting more effective. Naturally, these improvements would foster more closings.
Situations like this that use common action steps to multiply the results are a great way to set goals that work for you.
3. Consider the Power of Incentives
Your business is bigger than just you - it’s your entire team. The people empowering your business need to be factored into this year’s goals, too.
When you’re thinking about what business goals you want to meet in the new year, don’t forget to think about how you’d celebrate the accomplishment. Rewarding your team after a job well done can be a strong motivator to get everyone to put in their best effort.
Incentivizing your professional goals by attaching a reward that everyone can enjoy will help build a collaborative work culture.
4. Don’t Plateau
Just because you're using this year as a base point doesn’t mean that your goals should stop on December 31, 2021.
While your immediate goals should always be realistic to the current moment, there’s immense power in working towards bigger, far-off goals. Thinking about what you want your real estate business to look like 5, 10, and even 15 years from now can feel pre-emptive, but it’s necessary.
Don’t let your goal-setting process plateau or become stagnant. Always keep your eyes on the horizon and keep envisioning greater success. Goal setting can take you as far as you’re willing to go. While you’re focused on task-to-task 2021 goals, let your ambitions pull your career forward.
5. Try a Goal Setting Exercise for Agents
We’ve created a goal setting exercise for agents that makes achieving your 2021 goals easy.
This goal setting exercise has been specially curated for agents that are serious about empowering their career. It includes thought-stimulating tips and a worksheet template where you can set deadlines, outline action plans, and more. It’s a must for agents with dreams they’re ready to achieve.
Agents, be sure to use these tips when you’re setting your business goals for 2021. Remember to harness the power of thoughtful action. Your real estate career is in your hands… what will you do with it?
Side Partners have the opportunity to work one-on-one with a business manager to define their annual goals and put an accountability plan into action. Our business managers hold weekly meetings with each Side Partner, checking in on their progress, optimizing efforts, and providing feedback on how to most effectively grow and scale their business.