FOUNDATION FOR SUCCESS
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FOUNDATION FOR SUCCESS NewVision Mastery Training Series John Olson 2014
Transcript of FOUNDATION FOR SUCCESS
FOUNDATION FOR SUCCESSNewVision Mastery Training Series
John Olson 2014
Building a Foundation – Why?
The real estate profession is made up of unique individuals and as a result your real estate business will be unique to who you are.
However, there are certain proven principles and strategies that we all need to put in place if we are to have a truly successful career.
It is with that in mind that we present this training, that you may prosper and be as successful as possible from the beginning!
NewVision Mastery Training Series - CRM John Olson 2014
WHERE DO I START?
NewVision Mastery Training Series - CRM John Olson 2014
It all begins with a PLAN
YOUR BUSINESS PLAN
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Creating your Business plan is THE most important step you will take in your career. Your personal plan will be based on your personal skill set, your personality type, your geographic location, and many other factors.
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NewVision Mastery Training Series - CRM
o Set aside time to create your business plan
o Refine your business plan every year
o Reflect on & adjust your plan throughout the year
o A tool to measure your results and stay on track
o Stay on your plan and stay focused.
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YOUR BUSINESS PLAN01
YEAR IN REVIEW
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Before you plan the new year first review the previous year.This is the time to Recap, Review & Revitalize.
NewVision Mastery Training Series - CRM
o Reflect on your Victories, Challenges & Memories
o Write down your Highs & Lows
o Note those things you enjoyed & those that were troubling
o What did you learn? What can you fix?
o This review will help you map out your future!
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The Year in Review
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Example 1
Suggest Examples are a part of the handouts to be reviewed.
Include page(s) and have the students write their initial Year in Review.
YOUR BUSINESS PLANYear in Review
YOUR WHY
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Understanding WHY you want to be in this profession isa key component to creating your long term success
YOUR WHY
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John Olson 2014
Understanding WHY you want to be in this profession isa key component to creating your long term success
NewVision Mastery Training Series - CRM John Olson 2014
Your WhyWhat Drives you to succeed in life?
o Do you have a family you need to support?
o Did you hear that real estate is fun?
o You’ve heard that Real Estate Professionals make tons of money?
o You would like a flexible schedule for family, kids, sports, etc.?
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NewVision Mastery Training Series - CRM John Olson 2014
Your WhyThe emotional connection to your WHY
o The emotional connection to your why is based on deep introspect
o How do your emotions play a part in fulfilling your why?
o What makes the long hours day after day worthwhile?
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NewVision Mastery Training Series - CRM John Olson 2014
Example 2
Suggest Examples are a part of the handouts to be reviewed.
Include page(s) and have the students write abouttheir emotional connection to their why.
YOUR WHY03
Goal Setting
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Setting daily, short term and long term goals are a KEY to your success as a Real Estate Professional
NewVision Mastery Training Series - CRM John Olson 2014
Goal SettingMake it simple, effective & even fun!
o You can make a simple list of goals & keep copies at home, in your car, at your office
o Create a “Vision Board”
o Involve your family in setting your goals, share thoughts & ideas
o Tie your list or Vision Board to your WHY & Emotional Connection
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WHAT DO I NEED TO EARN?
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How much do YOU need to earn to reach your goals& fulfill your WHY? Is it “6 Figures?” or ?
NewVision Mastery Training Series - CRM John Olson 2014
What Do I Need to Earn?Consider: Earning $100,000 – What will you keep?
o Split to NVRG $20,000.00
o Taxes $20,000.00
o Misc. Expenses (gas, marketing, MLS, PCAR, etc.) $10,000.00
o NET Income (what is left for you to live on) $50,000.00
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So, in this example setting a target of earning $100,000 means you will realize a net income of about $50,000. Based on your needs this figure may actually need to be higher. Only you will know.
NewVision Mastery Training Series - CRM John Olson 2014
Compute your Earning Requirments
Provide the NVRG Earnings Worksheet and haveagents complete with their numbers.
STRATEGIES FOR BUILDING
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There are hundreds of ways to approach the building of your business, but 10 of them really stand out. Let’s look at options that are tried and proven in building a real state business.
NewVision Mastery Training Series - CRM John Olson 2014
o Focus on a geographic area
o Become the are SPECIALIST or Expert
o This may be an area you live in or have lived in
o Choose an area that you feel has strong potential
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FARMING
NewVision Mastery Training Series - CRM John Olson 2014
o Open houses are a GREAT new agent tool
o Typically the fastest way to obtain a transaction
o Open houses are a fallback plan for many agents
o You do not have your own listings to do open houses
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OPEN HOUSES
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o This is your database of everyone you know
o Primary contacts KNOW, LIKE & TRUST you
o This database is your warmest group of prospects
o Constantly add people you meet to this database
o Manage your database properly – it is GOLD!
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YOUR DATABASE
NewVision Mastery Training Series - CRM John Olson 2014
o An underutilized source of business
o Get to know business owners you frequent
o Markets, Dry Cleaners, Pharmacy, Auto Shop, Insurance Agent, Attorney, etc., etc.
o Consider a niche of caring for other BUSY professionals
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BUSINESS TO BUSINESS
NewVision Mastery Training Series - CRM John Olson 2014
o Join one or more networking organizations
o Le Tip, Rotary, BND, Chamber of Commerce, etc.
o Professional Networking organizations are committed to building the businesses of the group members.
o Consider organizations that cater to children & families.
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NETWORKING ORGANIZATIONS
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o Do you attend a gym?
o Do your children play organized sports?
o Are you a member of the PTA for your kids school?
o Golf, Tennis, Swimming, Etc.?
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FAMILY & EDUCATIONAL GROUPS
NewVision Mastery Training Series - CRM John Olson 2014
o Great for professionals who love to counsel & teach
o First Time Buyers are very coachable, but also emotional
o First Time Buyers need hand-holding but are appreciative
o First Time Buyers are VERY loyal – nurture them for years of referrals!
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FIRST TIME BUYERS
NewVision Mastery Training Series - CRM John Olson 2014
o Investors are a great niche to target
o Become an advisor on finding the best properties
o Utilize your title company to find out of area owners
o This one is a long term plan, but can be very lucrative
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INVESTORS
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o So many lenders to choose from
o Find a lender that fits your personality & drive
o Get to know the products they have for your clients
o Discuss a marketing plan that they may invest in with you or share the efforts to get the word out
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LENDING PARTNERS
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o This category is HUGE and exploding
o Constantly changing & challenging
o Are you already adept with Social Media? Dive in
o If all of this is new for you be sure not to overload
o Anywhere you can network online may be successful
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SOCIAL MEDIA
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o CRM allows you to manage your day to day actions
o Done properly your days activities are planned in advance
o Proper CRM use will keep things from “falling between the cracks”
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CLIENT RETENTION MANAGEMENT (CRM) SYSTEMCRM is a very important component of maximizing the return on the database of people you know. We have dedicated a training to this subject.
