5 types of goals you want on that list for 2020
December 30, 2019
Ready to crush it in 2020?
New year’s resolutions may be flaky. It’s a good season to be in the gym membership business. At least for the next few weeks. Though, just because few follow through on those cliche resolutions doesn’t mean you shouldn’t be setting really big goals and determine to accomplish them through real estate over the next 12 months.
Here are five types of goals you want on that list before the ball drops. And remember, you don’t have to wait until the first to start executing on them. Roll into the new year ahead of the game and already making progress on your big leaps.
- Income
How much money do you plan to make in the next 12 months? How much money do you need to make to really accomplish all of your other goals and be living your full potential?
Think big. So much more is possible in real estate than most understand. $1M is chump change in this business. Shoot really big. Then break it down so you know how much you need to be clocking up every month, week, day and hour to hit that number.
- Deal Volume
Based on your average profit per transaction, how many deals do you need to actually close to hit your income goal?
How many do you need to close for the year? How many do you need to get in the pipeline and under contract each month to close that many? How many offers do you need to be making each day and week in order to get there?
- Marketing Spend
Yes, spending on marketing should be a goal. The biggest brands spend millions, maybe billions a year on advertising, branding initiatives, client retention and gaining referrals. The more you invest in marketing each month, the more leads you can get. The more leads, the more offers you can make and closings you can take to the bank. In the real estate business, you should be spending a minimum of $10,000 a month in marketing to generate good revenues and income. Some investors have already spent $100k to invest in their January campaigns. Set goals of how much you’ll reinvest in marketing each month, and as a percentage of your profits.
- Giving Back & Paying It Forward
For many investors, the whole point is to be able to be generous and help others. How much do you want to help? How much money is that going to take? If that is just 10% of your gross income, how much do you need to make to be able to give that much?
Go back and check your income goal is big enough.
- Personal Goals
Time with family, personal accomplishments, new skills and talents, and bucket list trips all come in here. Everything is all good if you only hit these goals. What are yours?