Is Your Real Estate Business Plan Aligned?
Year end planning is a great time to assess what is working and what is not working in your business. If things are working - keep doing it! And maybe even double down on it.
However, if you are putting in effort, expending time and money and not getting a return on it then its time to reassess. Its not smart to continue pouring into something that isn't working.
This is where the "Sunk-Cost Fallacy" comes into play. Many of us keep doing things because we have already put in sooo much effort! We think we can't quit now - I will lose!
Well - yes you can. And sometimes you should. And it may be best to reframe your thinking to - I will STOP losing and start directing my energy towards things that win me more resources, rewards, and recognition - or maybe some relaxation!
Here is the meaning;
sunk-cost fallacy
Where have you fallen into the grips of sunk-cost fallacy?
Maybe you haven't experienced the feeling of a part of your business not working but instead you are planning to expand or grow.
The Alignment Quiz will help you hone in on where you can focus your energy to prepare to finish the year out and plan an amazing year in 2026. Its smart to start planning in the last quarter and making the right adjustments.
Take some time to assess how you are doing in all of the main areas from marketing to profits!
Take the following steps and if you want to dive deeper take the quiz!
1. Assess all income sources
2. Increase focus on areas of profit.
3. Remove or terminate areas that are not returning profits.
Remember all of your business related education expenses may qualify for a tax write off so plan accordingly! Where do you want to take your business in the year ahead?
Once you take the Alignment Quiz you will have more clarity and a clear path toward the right resources that works best for you.
This is taking your business in your own hands and treating it like a real business. Remaining flexible is the key to maintaining consistency and overall success over many years.
After 10 years of running a boutique brokerage I can attest to trying things and then cutting them out because they weren't bringing a return. Don't be afraid to cut accordingly to free up resources so you can focus and align with what is working.
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Hi There!
Jessica Holcomb
Author
I am a Course Creator, Small Business Coach, Real Estate Broker, and Host of the Lead With You Podcast. Welcome to my corner in leadership development! I hope you enjoy and stay awhile!
