Lunch & Learn with The Brians: Grow Your Business

February 5, 2019
Author: New England Home Mortgage

With over 50 years of industry experience, we have worked with a lot of homeowners and real estate agents. Connecting with other people is part of why we love our job - and we also believe in homeownership.

Whether we are helping individuals find the best loan for their personal situation or meeting with realtors, we want to share the information we have learned over the years. That is why we created Lunch & Learn; a time to sit down and connect with Realtors while sharing information we have learned over the years.

In January, our Lunch & Learns centered around the topic of setting goals, understanding your numbers, and growing your business. Read below for some highlights of these sessions.

Know your Numbers

Do you know your numbers? It’s important to know what you have done, and set goals for what you want. This requires tracking all of your numbers - not just your PNL. Brian Taylor and Brian Faye (known as The Brians) taught groups how to track and understand their numbers in order to set achievable goals.

Begin with what you did in 2018:

  • What was your average sales price?
  • How many transactions did you complete in 2018?
  • What were your trends from 2016-2017-2018?
  • How many jobs did you generate?
  • What is your closing percentages? (ie: How many leads did you need to close a deal?)

Determine your goal for income. Then determine how many deals you need to reach that:

  • What is your income goal?
  • What is your average sales price?
  • What is your average gross commission?
  • What is your split?
  • Franchise fee (or other fees)?
  • Average sales commission?

This will show you how many transactions you need to do to hit your goal. Keep in mind that not every transaction closes. Factor in your closing percentage so you can determine how many transactions you need for the year in order to hit or exceed your goal.

Plan Your Year

Once you have crunched numbers and set your goals, it is possible to plan your year.

  • Complete a written business plan with actionable steps.
  • Complete a monthly PnL (Profit and Loss). Do this monthly so that you stay on top of your finances.
  • Recognize your strengths and weaknesses. Build upon your strengths while reaching out to others to assist with your weak spots.
  • Keep your goals out in front of your every day, and consider getting an accountability partner. If you write your goals down at the beginning of the year and never look at them again, you probably won’t meet them.

Build Your Business

Finally, use your goals and your plan to build your business. This may be a part of a larger goal, such as a five-year plan, but it is important to set your sights on it now so that you know what you are working towards.

  • Prospect! In order to build your customer base and make sure new transactions are coming in, prospecting needs to happen every day.
  • Stay in touch with past clients throughout the year with calls, emails, and handwritten cards.
  • Build a team. Having a team will enable you to focus on what you do well, and allow to take on more transactions throughout the year.
  • Count the money.

The Brians are passionate about helping you reach your goals. If you need assistance with determining your numbers or want examples of tracking sheets, connect with us. As Brian Taylor says about tracking and building a business, “It’s easy to read and understand - it all comes down to execution.”

Interested in joining The Brians for Lunch & Learn this month? Contact us for the date and topic!

(860) 736-2747
37 W. Center Street, Suite 208, Factory Square, Southington, CT. 06489