Business Planning - Creating The Road Map

In this transformative course, we aim to revolutionize the way you manage and operate your real estate business by incorporating the revered foundational pillars elucidated in "Traction" by Gino Wickman and "The E-Myth Revisited" by Michael E. Gerber. The primary objective is to elevate your business to unprecedented levels of efficiency and profitability.

From "Traction," we adopt the essential components of the Entrepreneurial Operating System (EOS), which emphasizes on a holistic model of business management focusing on aligning the vision throughout the organization, fostering discipline and accountability, and helping the leadership team to become more cohesive and functional. You will be guided in formulating a visionary strategy, recognizing and capitalizing on your core focus, and establishing a culture of discipline and accountability.

Merging seamlessly with the principles from "Traction," the wisdom from "The E-Myth Revisited" implores business owners to work on the business, rather than in it. This course will train you to develop systematic approaches to every facet of your business, emphasizing the creation of scalable systems, consistent service delivery, and a business structure that operates seamlessly, whether you're physically present or not.

By the end of this course, you'll not only have the tools to transform your real estate business into a well-oiled machine but also cultivate a mindset that seeks continuous improvement and growth. Prepare to redefine excellence in the real estate industry, with a business model that is both profitable and manageable, ensuring not just your business’s growth, but its sustained success over time.

1. "The E-Myth Revisited: Why Most Small Businesses Don't Work and What to Do About It" by Michael E. Gerber - A classic guide that addresses the myths surrounding starting your own business and explains how to avoid common pitfalls.
2. "Traction: Get a Grip on Your Business" by Gino Wickman - This book introduces the Entrepreneurial Operating System, a set of simple, practical tools that help leaders and organizations achieve their visions.
3. "The Lean Startup: How Today's Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses" by Eric Ries - A book that presents a scientific approach to creating and managing successful startups in an age when companies have to innovate more than ever.
4. "Built to Sell: Creating a Business That Can Thrive Without You" by John Warrillow - A book that emphasizes on creating a business that can run smoothly, whether the owner is present or not.
5. "Good to Great: Why Some Companies Make the Leap and Others Don't" by Jim Collins - This book outlines the results of studies that identified the factors that allow a company to shift from being just good to being truly great.
6. "The $100 Startup: Reinvent the Way You Make a Living, Do What You Love, and Create a New Future" by Chris Guillebeau - This book guides entrepreneurs on how to lead a life of adventure, meaning, and purpose, and earn a good living.
7. "Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine" by Mike Michalowicz - Offers a simple system that helps businesses to become more profitable from the very next deposit.
8. "Dare to Lead: Brave Work. Tough Conversations. Whole Hearts." by Brené Brown - This book teaches the principles of brave leadership and how to cultivate a culture that encourages innovation and creativity.
9. "Rework" by Jason Fried and David Heinemeier Hansson - Offers a new perspective on the business world, arguing against the necessity of plans, outside investors, and other traditional aspects of startups.
10. "Scaling Up: How a Few Companies Make It...and Why the Rest Don't" by Verne Harnish - Provides practical tools and techniques for building a successful business that scales.

These books are comprehensive guides for entrepreneurs looking to enhance their business acumen and elevate their businesses to new heights. They cover a range of topics from starting a business with minimal investment to creating systems that foster sustained growth and profitability.

Objective: To encourage introspection and self-assessment on various aspects of your business and personal life.

Instructions:

1. Access the JotForm: Locate and open the provided JotForm link, which is designed for this specific exercise.

2. Rate Yourself: On the form, you'll find a series of questions targeting different facets of your business and personal life. For each question, evaluate and rate yourself on a predetermined scale. Be honest and realistic with your assessments – this will provide a clear picture of your strengths and areas of improvement.

3. Consider Each Question: Rather than rushing through the questions, take your time. Reflect upon each question, considering past experiences, recent decisions, and future aspirations.

4. Document Observations: If a particular question or rating sparks a thought, idea, or realization, jot it down either on the form (if space permits) or on a separate sheet/notebook.

5. Review & Reflect: After completing the JotForm, take a moment to look over your ratings. Identify areas where you rated yourself high and think about the practices or habits that contributed to that success. Conversely, for areas with lower ratings, consider what challenges or hurdles are causing the lower scores and what potential strategies or changes could elevate them.

6. Save & Submit: Once you've thoroughly completed and reviewed your form, save and submit it as instructed.

Outcome: By the end of this exercise, you will have:

• Gained a better understanding of your current standing in various areas of your business and personal life.
• Identified strengths to build upon and areas for potential improvement.
• Initiated the process of introspection, paving the way for actionable goals in future sessions.

Recommendation: Return to this exercise periodically (e.g., every quarter or half-year) to gauge your progress and adjust your strategies accordingly.

I. Introduction: Running Your Business Like a Business

Overview: Transcending the amateur approach to a professional paradigm.
The difference between "having a job" and "running a business."
II. Seeking Clarity: Envisioning Your Business’s True Potential

Activity: Visioning exercise.
Where do you see your business in 5, 10, 20 years?
Aligning personal aspirations with business growth.
III. Financial Mastery: Know Your Numbers

The triad of financial understanding: Personal bills, business expenses, and taxes.
Activity: Financial deep dive.
How much do you really need? Mapping out a clear financial picture.
IV. Building Wealth: Beyond the Day-to-Day Operations

The principles of wealth accumulation: Survival account, retirement savings, and investment.
Activity: Wealth planning workshop.
Charting out a roadmap to financial freedom.
V. Crafting a Comprehensive Business Plan

Foundations of a robust plan: Core values, niche focus, long-term targets, and market strategy.
Activity: Business plan drafting session.
Outlining the 10-year vision, 3-year trajectory, 1-year milestones, and quarterly goals.
VI. Addressing Business Challenges: Quarterly Rocks and Issues

Prioritizing major quarterly goals and troubleshooting obstacles.
Activity: Problem-solving workshop.
Identifying current challenges and brainstorming solutions.
VII. Organizational Mastery: Right People, Right Seats

The alignment of skills, passion, and business needs.
Activity: Organizational chart session.
Mapping out your current team and identifying gaps or mismatches.
VIII. Cultivating a High-Performance Culture

Embracing growth mindset and fostering curiosity.
Activity: Group discussion or breakout sessions.
Sharing success stories, challenges, and strategies for nurturing an empowering business environment.
IX. Conclusion: The Journey to Business Excellence

Re-emphasizing the significance of running the business with a clear, strategic approach.
Activity: Reflection and feedback loop.
Participants share their key takeaways and commitments.
X. Assignments & Next Steps

Recommended readings, tools, and resources.
Crafting a personal action plan based on insights gained during the session.
Schedule for follow-up sessions and progress check-ins.
Note: This coaching session is designed to be both informative and transformative. By combining conceptual discussions with hands-on activities, participants are guided to not only grasp the principles but also to devise actionable strategies tailored to their businesses.