Broker Business Plan Keys To Success

The Steve Miller Band had it correct when it comes to business planning.

I'm glad this is a blog post instead of a podcast because my singing really is that bad. 

As the song goes, “time keeps on slipping slipping slipping into the future.” That is why your end of the year business planning must take into account your current situation, projected direction, as well as setting time aside to complete your plan. 

Everyone knows the day-to-day struggle we have getting things done gets in the way of what best moves the needle on the profitability meter. We often confuse what we have to do right now, with what is best for our future.

The key is combining the current situation review and desired projected goals (your KPIs) with regularly scheduled focused time. An often overlooked but extremely effective way of ensuring this focused time, is by a practice called time blocking. It is a practice that takes into account reviewing your current situation on a regular basis and setting time aside to work on the projected direction of your business plan. There has been a tremendous amount of research done on how effective it is to take small segments of time and become hyper focused. This is much more effective than multitasking or fighting fires all day.   

Your hyper focused small segments should center around the 4 categories of Business Development , Business Servicing , Business Qualification , and Business Presentation.

Looking at your week and setting aside time slots for these four categories will take your business plan from being a suggestion, or a goal, to being actionable. Why? First, the quality of your actions equals the quality of your results. Second, out of sight out of mind. If you're not looking at what you're doing with your time, and measuring its effectiveness on a regular basis, your efforts will become splintered and so will your results. Everyone knows this but why do more people not accomplish their business plan objectives? A plan is a checklist of what to do. Time blocking is when to do it. They both work hand-in-hand, but neither work when they exclude each other. Most businesses treat them as mutually exclusive.

The level of success reached in a business directly correlates with the consistency and accountability of a plan being executed on a consistent basis. That means knowing what to do, and having time set aside to do it. It's really the best executed business plan that can be put into place that will ensure success.

-Matt Vigh, Owner of Prospect Boomerang

www.prospectboomerang.com