1. Power Session 11: Living Your Goals
Lead Generation 36:12:3
Power Session 11:
Living Your Goals

2. Power Session 11 In this Power Session … Introduction Your Big Why
The Models
Goals-to-Actions
Measuring Your Results
Now, You Do It!
Keep Your Goals in Front of Your Eyes
Putting It All Together
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3. Introduction Ground Rules Arrive on time. Form groups quickly.
Power Session 11
Ground Rules
Arrive on time.
Form groups quickly.
Limit side conversations.
Turn off cell phones and pagers.
Be comfortable.
Respect time.
Respect each other.
Help each other.
Respect confidentiality.
Have fun!
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4. Introduction How You Will Learn Learning Methods Manual Classroom
Power Session 11
How You Will Learn
Learning Methods
Manual
Models/Systems
Exercises/Discussion
Stories
Classroom
PowerPoint slides
KWConnect videos
Classmates/Instructor
(continued)
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5. Accountability Feedback Loop
Introduction
Power Session 11
How You Will Learn
Accountability Methods
Lead Generation Action Plan
Accountability Partner/Program
1. Set Goals
2. Do Key Activities
3. Measure Results
4. Evaluate Process
5. Make Adjustments
Accountability Feedback Loop
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6. Introduction EXERCISE Where You Are Today Time: 10 minutes
Power Session 11
EXERCISE
Where You Are Today
Lead Generation Activities
My aha’s from these activities
The most difficult part of these activities
What I will do differently in the next 24 hours
Time: 10 minutes
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7. Introduction Why You Are Here
Power Session 11
Why You Are Here
How do you succeed through business planning for the solo agent?
You are here!
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8. Read, underline, and share …
Introduction
Power Session 11
Why You Are Here
Ready to Go 200 mph?
Read, underline, and share …
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9. Introduction What Will Make This a Great Training Experience for You?
Power Session 11
What Will Make This a Great
Training Experience for You?
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10. Your Big Why
Power Session 11
Why do you want to make 36 or more transactions this year?
What does it mean to you?
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11. Your Big Why EXERCISE It’s About More than Paying the Bills!
Power Session 11
EXERCISE
It’s About More than Paying the Bills!
Think about what a successful real estate career will do for you.
Write your Big Why.
Tear out the page and post it in your work space.
Time: 10 minutes
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12. The Models Economic Model Lead Generation Model Budget Model
Power Session 11
Economic Model
Lead Generation Model
Budget Model
Organization Model
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13. The Models Model 1: Economic Model
Power Session 11
Model 1: Economic Model
Connects the dots between income goal and fundamental activities
Assumptions:
80% listing appointment conversion
65% listing agreement conversion
65% buyer appointment conversion
80% buyer agreement conversion
$250,000 average home price
$7,500 average commission/side
Splitting business 50/50
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14. The Models Model 1: Economic Model 36 Transactions Listings Sold
Power Session 11
Model 1: Economic Model
36 Transactions
Listings Sold
18 per year
65% Conversion
Listings Taken
27.7 per year
80% Conversion
Listing Appts.
34.6 per year
Buyers Sold
Buyer Listings Taken
22.5 per year
Buyer Appts.
Lead Generation
3 Hours a Day
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15. The Models Model 1: Economic Model $270,000 Listings Sold 18 per year
Power Session 11
Model 1: Economic Model
Listings Sold
18 per year
Buyers Sold
18 per year
36 Transactions
Average Sale Price
$250,000
Average Sale Price
$250,000
$7,500 Commission Per Side
$7,500 Commission Per Side
Total GCI
$270,000
GCI from Listings
$135,000 per year
GCI from Buyers
$135,000 per year
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16. The Models Model 2: Lead Generation Model
Power Session 11
Model 2: Lead Generation Model
Illustrates the relationship between contacts in your database and transactions.
Demonstrates the total cost per marketing action plan.
Shows prospecting based and marketing enhanced lead generation is cost-effective!
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17. The Models Model 2: Lead Generation Model Assumptions:
Power Session 11
Model 2: Lead Generation Model
Assumptions:
Splitting business 75 percent Mets and 25 percent Haven’t Mets
Already have 100 Mets in database
All Mets will go through an initial 8 x 8 marketing plan, then an ongoing 33 Touch plan
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18. x 36 transactions x 50 (50:1 ratio)
The Models
Power Session 11
Model 2: Lead Generation Model
Met
Haven’t Met
Business Ratio
12:2
50:1
Contact Numbers
75% of business
x 36 transactions
x 6 (12:2 ratio)
= 162 in database
25% of business
x 36 transactions x 50 (50:1 ratio)
= 450 in database
Current Number
100
- 0
Total to Add Right Away 62
÷ 4 weeks
= 15.5 per week
450
= per week
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19. The Models Model 2: Lead Generation Model Met Haven’t Met
Power Session 11
Model 2: Lead Generation Model
Met
Haven’t Met
Addl Contacts to Add
440
÷ 11 months
= 40 contacts/month
÷ 4 weeks
= 10 contacts/week
Touches
Initial 8 x 8
Yearly 33 Touch
Yearly 12 Direct
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20. The Models Model 2: Lead Generation Model Met Haven’t Met Cost
Power Session 11
Model 2: Lead Generation Model
Met
Haven’t Met
Cost
Met Total=$11,941
($2,008 + $$9,933)
Haven’t Met Total=
$2,700
502 total contacts
x 8 initial touches
x $.50 cost/touch
=$2,008
602 total contacts
x 33 touches/yr
x $.50/touch
=$9,933
450 total contacts
x 12 touches per yr
=$2,700
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21. The Models Model 2: Lead Generation Model Stomp on the gas!
Power Session 11
Model 2: Lead Generation Model
Stomp on the gas!
Keep the cost per touch low.
Marketing is a technique to funnel people into your Mets database.
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22. The Models Model 3: Budget Model Sets limits for spending money.
Power Session 11
Model 3: Budget Model
Sets limits for spending money.
Lead with revenue!
Cost of sales = money you spend to acquire income.
Expenses = money you spend on running your business.
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23. The Models Discussion Capper! The Race to Cap is On! Time: 5 minutes
Power Session 11
Discussion
The Race to Cap is On!
What are the Company Dollar and Royalty Caps in your Market Center? What production level is required to cap? About how many deals is this based on average sale price?
Time: 5 minutes
Capper!
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24. The Models Model 3: Budget Model
Power Session 11
Model 3: Budget Model
Total GCI = $270,000
% of Total GCI
Amount
Salaries
12%
$32,400
Lead Generation
9.2%
$24,840
Salaries and Lead Generation are big chunks!
If you’re not ready for a hire, change 12% to 0% for this year.
Lead Generation includes marketing action plans and up to three additional strategies.
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25. The Models Model 3: Budget Model Total GCI = $270,000 % of Total GCI
Power Session 11
Model 3: Budget Model
Total GCI = $270,000
% of Total GCI
Amount
Occupancy
2.0%
$5,400
Technology
1.5%
$4,050
Phone
1.0%
$2,700
Supplies
Education
Equipment
Auto/Insurance
0.5%
$1,350
Total Expenses
29.2%
$78,840
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26. The Models Model 4: Organizational Model No one succeeds alone.
Power Session 11
Model 4: Organizational Model
No one succeeds alone.
Hire an assistant when you cannot keep up with your steady business.
Your hire should pay for his or herself within a couple of years by increasing your business.
Hire carefully.
See Recruit-Select for more information.
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27. The Models Pulling the Models Together See page 22 Page 22
Power Session 11
Pulling the Models Together
See page 22
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28. The Models Exercise Give Yourself a Raise! Time: 10 minutes
Power Session 11
Exercise
Give Yourself a Raise!
List three numbers that you could change to increase your net income. How could you make that change?
Write your answers on the flip board.
Time: 10 minutes $ $ $ $ $ $ $ $ $ $ $ $
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29. Goals-to-Actions Add your business planning goals to your 4-1-1.
Power Session 11
Add your business planning goals to your
Specify weekly actions on the Weekly To-Do Lists.
Time block to ensure the actions happen! 1 2 3
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30. Goals-to-Actions Step 1: Add Business Planning Goals to the 4-1-1
Power Session 11
Step 1: Add Business Planning Goals to the 4-1-1
Add yearly goals from Pulling the Models Together to the yearly goals of the
Break yearly goals into monthly and weekly goals. 1
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31. Goals-to-Actions
Power Session 11
4-1-1
See page 27
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32. Goals-to-Actions
Power Session 11
How many calls, events, open houses, etc. should I do?
As many as it takes. Lead generate for 3 hours every workday.
You’re accountable to the daily habit of 3 hours of lead generation per day.
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33. Goals-to-Actions Staying Accountable Find an accountability partner.
Power Session 11
Staying Accountable
Find an accountability partner.
Get into a regular accountability schedule.
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34. Goals-to-Actions If You Miss a Goal Examine why. Develop a new plan.
Power Session 11
If You Miss a Goal
Examine why.
Develop a new plan.
Appreciate your progress! Are you still on the board?
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35. Goals-to-Actions Step 2: Specifying Actions on the Weekly To-Do List
Power Session 11
Step 2: Specifying Actions on the Weekly To-Do List
Specify the actions you will do in the next week to meet your goals.
The actions will depend on which lead generation strategies you employ. 2
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36. Goals-to-Actions Weekly To-Do List See page 32 Page 32
Power Session 11
Weekly To-Do List
See page 32
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37. Goals-to-Actions Step 3: Time Block Get out your calendar.
Power Session 11
Step 3: Time Block
Get out your calendar.
Schedule your play time.
Schedule your pay time.
Preparation activities
Action items
Maintenance activities
Schedule your scheduling time.
If you erase, you must replace. 3
[Lead Generation]
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38. Am I really going to do this?
Goals-to-Actions
Power Session 11
Am I really going to do this?
Look back to your Big Why and tell yourself, “Yes.” You’re not hoping that it happens; you’re planning for it.
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39. Measuring Your Results
Power Session 11
Track everything consistently.
How many phone calls
Who the phone calls were to
Which marketing action plans have been applied to which contacts
How many appointments
How many contracts
How many deals closed
Where your business comes from
Continued
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40. Measuring Your Results
Power Session 11
Track everything consistently.
What your expenditures are
What your return is on an investment
Your conversion rates
If you’re meeting your goals
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41. Measuring Your Results
Power Session 11
Tracking Tools
Use any tool that you can easily pull information from.
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42. Measuring Your Results
Power Session 11
Business Decisions
Measuring your results enables you to make evidence-based decisions.
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43. Now, You Do It!
Power Session 11
Get out your calculators (your cell phone probably has one) or use the Business Planning Microsoft Excel workbook!
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44. Now, You Do It! EXERCISE Create Your Business Plan Time: 40 minutes
Power Session 11
EXERCISE
Create Your Business Plan
Work through BP1 – BP12 to create your business plan. (Note: you may want to use the Business Planning Microsoft Excel workbook on your Toolkit CD.
Time: 40 minutes
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45. Keep Your Goals in Front of Your Eyes
Power Session 11
To achieve your goals, you must stay focused on them.
Maintain that focus by keeping your goals in front of your eyes.
Keep your foot on the gas! “You’re a Ferrari. Are you ready to go 200 mph? Are you?”
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46. Putting It All Together
Power Session 11
Power Session Aha’s
What were your aha’s from this session?
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47. Putting It All Together
Power Session 11
Your Lead Generation Action Plan
What activities do you have in place now?
What are you going to add?
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48. Putting It All Together
Power Session 11
The 3-Hour Habit
Time block 3 hours every workday before noon.
No skipping. If you must erase, then you must replace.
Allow no interruptions (unless they truly are emergencies).
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49. Thank You for Being Here!
Don’t forget your evaluations!