Actually, it’s encouraged. You’ll be able to do it in under an hour. They set up super-fast wifi and provide workspaces to bring in a steady stream of laptop-bound customers. How will you differentiate yourself? It’s important to start small and stay focused when you have a new idea. Before you get into the nitty-gritty of a business plan, run your idea through a SWOT analysis. Key financial metrics including profit and loss, cash flow, balance sheet, and your sales forecast. —just going through the process is proven to help businesses grow faster, for example. Value shouldn’t be confined to a single silo. You can quickly send it as an email attachment, throw it into a slide deck and even have it printed off as an easy read for interested parties. Bad ideas don't sink businesses. This type of framework is particularly needed because wrongly defined goals can hurt the performance of your business. No votes so far! Writing a traditional business plan can seem like a daunting task, and lots of entrepreneurs avoid it for this reason. All Rights Reserved. Key Metrics – You’re going to choose and identify 3 key metrics that will give you a quick overview of how your focus areas are doing and if you’re on track to reaching your goals. 28 Things Top Producers Wish They Knew When They Started Selling Real Estate, Geographic Farming: The Top Producer’s Secret to Neighborhood Domination, CRM Shootout: The Top 3 For Real Estate Agents & Which One is Right For You, “How much am I going to invest in my business to reach my goals?”, “How much money do I need to make to live and pay my bills each month?”. How will they react? This may be the last step, but go ahead and stick it front and center at the top of your page. For the cost and budget section of the business plan template, the main two questions that you have to ask yourself are simply: Without a doubt, this business plan will grow and change to reflect your successes and failures, and it should. Are you innovating a new product? It’s a one-page business plan after all. Anyone can have a good idea. The biggest area where realtors get in trouble is simply spending too much money on their business. The key is to ensure you have enough financial support for your business to turn a profit. Can You Get a Business Loan With Bad Credit? There are plenty of successful agents who don’t cold call and who don’t door knock, but the difference is that they know their strengths and don’t waste their time trying to force a square peg into a round hole. Approachable pitch — Having a one page plan makes it easier to share, even if you’re not pitching in front of investors. This document is a one page business plan template that can be used to assist an entreprenuer in their efforts to start a business and create a business plan. You don’t need an MBA to figure out this business school staple. Let’s get to work! These same reasons extend to the one page model, but it includes a handful of additional benefits to keep in mind. This is How to Build Remote Work into Your Startup Business Plan, How to Write a Business Plan for a SaaS Company, How to Create an Accurate Restaurant Sales Forecast in 2020, See more articles in Writing a Business Plan », How to Make Your Business Plan Standout for Investors, How to Successfully Pitch Your Business Idea to Investors, The 11 Slides You Need to Have in Your Pitch Deck for 2020, See more articles in Pitching a Business ». As you start building your business, this will likely be the most valuable tool in your arsenal. For example, your focus areas could be establishing a daily lead generation strategy, building an online presence, geographically farming a community, building a team, and/or increasing the number of referrals. But, if you do need to expand your business plan beyond one page into a more full-fledged plan that includes more details on your company and your target market, you can follow our step-by-step guide for writing a detailed business plan, download our free business plan template, or review any of our more than 500 complete sample business plans. You simply frame your idea into four categories: *Strengths: What are the advantages of your business model? This post will show you how. Check out these Offerings. In fact, after interviewing top producing agents from every level, the most productive and successful agents are the ones that actually do treat their business like a real business. You can always share broader financial information if requested. You’ll be able to do it in under an hour. Boil your business model down to one sentence. This one-page game plan was crafted after taking into account all of the wisdom we’ve gained from interviewing top producing agents on the CompleteAgent Podcast. When you buy through links on our site, we may earn an affiliate commission. This business plan template is designed specifically for businesses that provide a service. If you’ve been putting off writing your business plan, you’re not alone. Don’t rush to open an expensive storefront location. Slow down if you’re thinking it’s already time to assign a juicy equity price tag to potential investors. CompleteAgent’s One Page Business Plan Template asks the right questions to help you reverse engineer your goals with a simple layout that won’t require you spend hours creating a 34 slide PowerPoint presentation. can seem like a daunting task, and lots of entrepreneurs avoid it for this reason. But it doesn’t have to be. Save my name, email, and website in this browser for the next time I comment. But, if you do need to expand your business plan beyond one page into a more full-fledged plan that includes more details on your company and your target market, you can follow our step-by-step guide for, . A lease, insurance, and loan payments are all fixed costs. Where are people going now? In the example provided in the business plan template, we used a goal of 24 transactions in 12 months. It might even be all the business plan that you need. This is your rough plan, and when your vision gets a little blurry on your journey, you’ll have this map to guide you. So grab our template, get started, and remember it doesn’t have to be perfect. These could be capital, fixed or variable costs depending on the type of work. Use this section to identify what you’re offering to the market. An easy way to start is with just one page. A business plan is especially important for new agents because often times new agents are juggling a side job or even a full-time job until they can make enough money to fully commit to real estate. Please check your entries and try again. Entrepreneur Quiz: Do You Have What It Takes to Succeed? There is a time and place for a detailed business plan down the road. Just answer the questions it asks and click “publish,” and you’ll have a professionally-designed, single-page business plan that is easy to share and covers everything an investor wants to know. If an entrepreneur or business owner went to apply for a business loan and when asked for his business plan, was not able to produce one, he might be laughed out of the bank. Use bullet points. Some people like to call this your “business model canvas,” but it’s really the same thing. Your budget is what your business will cost. Now with all that being said business plans are indeed vital for every type of business however with the speed of today’s world we have to be able to adjust and optimize them as needed. Capital Costs: These are fixed, one-time expenses that you’ll need to start operating. We have a simple, free, focused 1-page business plan template for you at the bottom of this article. With “traditional businesses”, business plans are pretty well assumed and expected yet so many agents don’t treat their business like the “traditional business” that it really is.