One of the key components in a successful business is having a clear understanding of what you are trying to accomplish and how it makes you money. Far too often, people get wrapped up in being busy without any focus on what actions, activities, and relationships are actually productive. That contrast between being busy and being productive often get muddied and distorted. Often people think they are the same thing. They are not. I know plenty of really busy broke people!
One way to avoid being busy without becoming productive is to create significance. Using the filter of significance can help you avoid those tasks and even people in your life that caused you to be disproportionately busy compared to the results achieved. That is why during my annual business planning process for my clients which always begins in October, we look at where our business is coming from and the true cost in time, effort, and assets for each referral, pre-approval, and closing costs us to generate.
Just like every other successful business, you need to know the costs of your business so you can determine the proper value of each and every action, activity, and relationship, so you can see if you need to keep it, improve it, or eliminate it for the coming year! Business planning and an accountability partner can help you create a plan that creates significance in what you do, how you do it, and with whom you do it with!
I have completed the 2018 business plan worksheet as well as the monthly coaching webinar in support of business planning for 2018 and both of them are on the public website www.IMTcoaching.com for you to review and use to help guide you through that process. It is in support of the e-book “Business Planning for the Mortgage Professional”, which is in the e-book section of the client’s site or available to purchase for those who aren’t “Access” members.
If 2018 is going to be a year of change for you, then you really need to figure out what needs to change and when you will make those changes. Since our business is a business of constant flow; then you must consider that any changes you make today may take thirty to sixty days or more before you begin to experience the true changes. Now that doesn’t mean that some results won’t happen almost instantly, but realistically you need to allow for double the amount of time in your average gestation cycle (The time from pre-approval to closing or first contact to closing) before you assume the results are catching up to your efforts!
Last but not least, after you build your business plan and schedule the new actions and activities into your schedule; you will need to review your plan with your accountability partner. YES, you NEED an ACCOUNTABILITY PARTNER! Without someone else to hold you accountable to your own plan, it isn’t very likely you will hold steady to your plan. That is why people have coaches. That is why people belong to support groups. Having an accountability partner to help you along the path will improve your outcome significantly. In some cases, it makes the entire difference in success or failure of the plan.
So create significance in your professional life by creating your business plan for 2018. Do the work, create the schedule, the list of tasks, and the expectations you are planning to achieve. Note that I said “expectations you are planning to achieve” and not “setting goals”? I did that for a specific reason, goal setting allows for failure to achieve, whereas planning to achieve allows for adjustments. A minor detail to some; but a major difference just the same! If you want significant results, you will need to create a significant plan to succeed!
Questions or comments: Mike@IMTcoaching.com
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