For many years I was in the Restaurant Business where, I owned and operated multiple restaurants along with a restaurant consulting company. I also provided support to other independent restaurant operators. I taught them systems and skills on how operate more efficiently which in true made them more profitable. One of the lessons I learned early, was the importance of keeping track of activity. Without knowing their numbers and the activity level, it was almost imposable for them to understand what they were doing right or what wasn’t working. There was no way for them to know, where to focus their time and energy to make improvements.
Today in my role as a Real Estate Coach and Advisor I speak with very few students that are tracking their numbers let alone reviewing them with the idea of being able to improve their business. If you are not keeping track your activity, you are missing out on a tremendous opportunity for improvement.
Some of the data you should be tracking daily and reviewing at least monthly. How many people do you talk to daily and what is the mix? How many are real estate agents? How many are cash investors? What about sellers are they FSBO’s, pre-foreclosure, calls from you bandit signs, etc.? Which groups are the most productive for you and why? How many cold calls did you make? How many doors did you knock on? How many people did you talk to while you were knocking on doors? How many ads are you running and which ones are working for you? Are you asking yourself questions and are they the right questions?
The real estate business is the same way. You have to know your numbers on your activities. As you move forward, you will set goals for your activity and check yourself daily. You will find power along with insights you didn’t know you had. There are three major areas we need to track our activity in daily they are;
- Finding Quality Cash Investors
- Finding Deals
- Writing Offers
In each of these areas, there are at least nine techniques.
We have developed a new tool that is designed to help you with your weekly planning. If you would like to receive a copy of this tool which list the techniques please contact the Real Estate Advisory Line at 877-394-4752 ask for the Weekly Activity Worksheet and the Advisor will email you a copy. It will help you to identify areas that you might want to study and improve your skills.