By Maddie Jostol
2018 is your year to not only reach, but to exceed your business goals. If you either a) didn’t set goals for 2018, or b) have already lost track of them, making you think that maybe you didn’t go about goal-setting in the best way, then this guide is for you. Goal-setting gives you direction. It ensures all of the work you’re doing serves a purpose. There is no one thing that you are doing to make your business reach its goals. There is no silver bullet for real estate agents. In reality, it’s an accumulation of things, which is why having goals in place is so important. It means all of those little things can map to something bigger and add up to success.
Make that money.
At the end of the day, you’re working to make money. There is no one-size-fits-all formula for how much a real estate agent (or anyone, for that matter) should make. Think about how much you need to make in order for this year’s work to be worth it. What is your time worth? How much time and effort are you planning to give? What pieces of your life do you need to fund and how much will you need to make in order to do that?
Once you take those questions into consideration, begin to form your financial goal for the year. Next, calculate your GCI (Gross Commissionable Income) goal. This is important as it’s directly relatable to the day-to-day progress you’re making. Each time you complete a transaction, you can see exactly where you are on your path towards your annual goal. If you’re a Moxi Engage user, be sure to input your GCI goal in your Moxi account. This way, you can easily see your goal reflected on your Moxi dashboard, as well as the progress you’re making towards it.
It’s really important to make your goals realistic and achievable. Of course, we encourage you to stretch yourself and reach for the stars, but make sure your goals are within reach. The last thing you want is to get discouraged and leave your goals behind altogether.
We’re all too familiar with the new year’s resolutions that fizzle out after a month or two. We’re hitting that point in the year when the gym is quieting down drastically after being packed for the last few months. Why? Because without a plan, it’s inherently difficult to follow through on your goals.
When goal-setting, consider the steps you’ll need to take to reach said goals. Write them down – even if it’s a rough list. This will not only help you gauge whether or not the goals you’re setting are realistic, but it will give you direction and get you on the right track as you set out to reach those goals.
Get your ducks in a row.
When your business runs smoothly, you’re better prepared to reach your goals. Part of goal setting should be getting the right systems in place for you to surpass those goals. As an agent, you are running your own business, which means accounting and tax filing take up time you could be using to close more deals. As independent contractors, most agents struggle with proper accounting since keeping your business finances sorted is such a pain. When it comes time to file taxes, you’re left sifting through a box of crumpled receipts and losing out on deductions because you didn’t have time to record and categorize everything.
QuickBooks Self-Employed helps independent contractors keep track of their finances all year, saving time and stress. When it comes time to file taxes, all of your expenses are auto-categorized to match your Schedule C and the average user saves $4,340 on taxes. With a snapshot of your business income vs. expenses, available on your app in real time, you always have a view of how your business is performing to ensure your goals are on track. Get a reliable system in place now! We’re offering 50% off your first year – check it out here.