Reflection, renewal, rethinking the old ways: This is the perfect time of year to reevaluate the way you do things, writes Nikki Beauchamp. Here, she shares 20 questions that should guide the process.
The verdict is in — the old way of doing business is over. Join us at Inman Connect New York Jan. 23-25, when together we’ll conquer today’s market challenges and prepare for tomorrow’s opportunities. Defy the market and bet big on your future.
The end of the year is a natural time to reflect and recalibrate. I have always been a bit of a business planning nerd, a bit of a purist. That is absolutely a holdover from business school.
When I decided to become a real estate broker, that certainly was a transferrable skill. I love that there is now much more conversation and training around business planning. In any business, one must proactively assess performance, strategies and dynamics (and think about the exit and or succession strategy, but we will talk about that in some other article).
There are many variations based on the core concepts; find the one that resonates and works for you to go through a strategic thought process resulting in a plan you can work with.
Inspired by a recent Harvard Business Review article, these questions can provide a tremendous boost to start off the new year strong — even if you don’t feel that your team is stuck, stymied or stale.
Let’s look at this as a year-end exercise and consider how these insights can apply to real estate. While the article itself focused on teams, my premise is that it can apply to a sole practitioner, team or brokerage.
Realignment: Resetting the team’s mandate
1. What external trends require us to adapt?
Given the dynamic nature of the industry, influenced by economic, technological and societal trends, think through how to frame, identify and adapt to these external factors to ensure your team remains agile and responsive to market demands. This is a perennial need, and…