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THE ENTREPRENEUR'S PATH

This business plan & goal-setting guide was developed for REMAX Hallmark® REALTORS® to create a thorough and logical path to follow to achieve their goals and fulfill their life “want tos.”

Unlike just goal setting, where you pick a number and hope for the best, this comprehensive plan walks you through, step-by-step, a tested and proven process of developing a full, easy-to-follow plan. Moving well beyond an income goal to a daily plan to achieve your goal, followed by tracking and accountability to help keep you on your path to success.

After this plan is completed, you will have a clear picture of what financial level you need to attain to fund your life. Beyond a dollar figure, you’ll discover how many personal contacts you need to make daily to reach your financial goal.

Once your financial path is clear, we’ll map out your plan to identify exactly what marketing sources and activities will help you meet your goals and what marketing sources and activities to avoid. It’s all about focusing on the vital activities to get the desired results.

You will get out of the this endeavour what you put into it. If you complete this guide and do the hard work and obtain the training your plan recommends to become a master in business areas you select to focus on, the sky’s the limit. If you complete this guide and do what you’ve always done, you’ll get what you’ve always gotten.

Let’s get started down your personalized Entrepreneur’s Path…

THE ENTREPRENEUR’S PATH

I WANT TO.....

“Put my kids through college.”

“Toast our 30th Anniversary on the Eiffel Tower!”

“Retire at 60.”

“Pay off my home”

“Buy three rentals.”

STEP 1: YOUR ASPIRATIONS

Step one is the most important step. Why do you want to succeed anyway? What does success mean to you?

Before we start crunching numbers and getting rich you should know your aspirations. Do you want more money? Do you want more time? What would you really do with more money? What would you do with more time? What are your life’s aspirations?

“Volunteer in a homeless shelter for 20 hours a week.”

“Write a book.”

STEP 2: YOUR ANNUAL PERSONAL BUDGET

As you work through this budget the first time, just estimate your expenses. As you refine it, you can get more exact. For variable bills - like utilities - it’s a good idea to review three to five months worth of bills and use a good monthly average.

This personal budget is a tool for you to help establish what profit your real estate business needs to make to support your personal lifestyle. Perfection is not the goal. Get close and get started.

BEFORE YOU DECIDE...

How much you “need” to make, you need to know what it costs to fund your life.

Use Priority “1” for must have items, like mortgage, rent or groceries.

Priority “2” is for items you’d like to have, like dinners out and cable.

Priority “3” is for luxury items you could live without but don’t want to, like yard care, housekeeping, etc.

DON' T kNOW YOUR ACTUAL NUmBERS?

You’re not alone.

Most people don’t have a clue what they spend.

TAkE A STAB!

“If you can’t fly then run. If you can’t run, then walk. And, if you can’t walk, then crawl, but whatever you do, you have to keep moving forward.”

Martin Luther King Jr.

STEP 2: YOUR ANNUAL PERSONAL BUDGET

To develop your personal business budget, look at last month’s checkbook & credit card statements.

Review a few months to get an average.

See what bills you “auto-pay.”

IF ALL ELSE FAILS!

Guess! Seriously. It’s a place to start.

“The real test is not whether you avoid this failure, because you won’t. It’s whether you let it harden or shame you into inaction, or whether you learn from it; whether you choose to persevere.”

—Barak Obama

STEP 2: YOUR ANNUAL PERSONAL BUDGET

STEP 3: YOUR ANNUAL BUSINESS BUDGET

The following pages outline a business budget. It is this budget that will provide the key to what your business needs to fund your life. Once this is established, you’ll know exactly how much profit your business will make. In the steps that follow, you’ll be able to develop a concise plan to meet that target.

In addition to the forms where you can determine your budget, we’ve provided industry benchmarks for business expenses. These benchmarks are for reference only; your income and expenses will vary. And as with the personal budget, perfection is not the goal.

Set up a separate business account to pay all your business expenses.

Use one of the hundreds of expense and mileage tracking apps!

Figure what it costs to market the average listing so you can budget listing expenses.

STEP 3: YOUR ANNUAL BUSINESS BUDGET

BEFORE YOU SPEND, ASk YOURSELF....

Am I spending this money to make more money or to humour people?

Can I track the return on this money?

Am I doing this because, “I always have?” THINk BEFORE YOU SPEND!

The REMAX Club Levels are awarded each year based on your gross annual commissions.

$50K - $100K

STEP 4: YOUR ANNUAL LIFESTYLE NUmBER

Establish Your Lifestyle Number The minimum profit that’s acceptable for your business to generate

When you achieve your Lifestyle Number and manage your personal and business expenses, you can fund your life and your aspirations! $100K - $250K

STEP 5: YOUR ANNUAL FINANCIAL GOAL

YOUR NUMBERS FROM LAST YEAR

Gross Sales Commissions:

Avg. Commissions:

Listing Sides Closed:

Listing Sides Percent:

Sales Sides Closed:

Sales Sides Percent:

Avg. Commission Rate For Listing Sides:

Avg. Commission Rate For Sales Sides:

Avg. Commission Rate Overall:

STEP 6: YOUR DAILY CONTACT TARGET

Calculate Your Daily Contact Target

The following activities count as contacts:

1) Face-to-Face, one-on-one conversations where you talk about real estate at some point.

2) Phone Calls, where you speak to someone live —messages don’t count.

3) A Personal Text exchange that results in a twoway conversation.

Various real estate coaching companies and your Brokerage’s own tracking have shown that you’ll need about 35 prospect contacts for every client. Assuming you work five days a week and fifty weeks a year, you can then use your Financial Goal from the previous page to calculate how many contacts you need to make.

STEP 7: WHAT WORkED LAST YEAR?

This section is designed to help you take a few moments and look back at your marketing sources from last year. This recap will serve as a guide as you select this year’s Marketing Channels.

Network (Repeats/Sphere/Referral)

kvCore (remax.ca)

Personal Website

Paid Online Leads

Sign Calls

Print Ad Calls

Open Houses

Direct Mail

Expired Listings

FSBOs

Power of Sale

Relocations

Company Referrals

Vendor Referrals

REALTOR® Referrals

Leads Group

Civic Organization

Other

IT’S THAT SImPLE... On average, for every quality contact a person makes every day, they’ll earn $28,000 in commission.

1 Contact per Day = $28,000 in Gross Annual Income

4 Contacts per Day = $112,000 in Gross Annual Income HOW mUCH DO YOU WANT TO mAkE?

STEP 8: mARkETING TARGETS

“You gain strength, courage, and confidence by every experience in which you really stop to look fear in the face. You are able to say to yourself, I lived through this horror. I can take the next thing that comes along. You must do the thing you think you cannot do.”

—Eleanor Roosevelt

Successful Entrepreneurs select no more than three Marketing Targets to focus on. If you select more than three areas, you risk losing focus altogether. As you consider what Marketing Targets to pursue from the list that follows, look where your business has come from in the past as a guide to future success.

In addition to the all-important Network Marketing Target (prechecked at right) select 1-2 additional Targets you are going to focus on. You’ll see the tasks you need to do and the tools to help with those tasks. In addition to the tasks and tools, each Target has recommended training courses to attend. These courses have been tailor-made to support the Targets you choose.

STEP 8: mARkETING TARGETS

Hallmark Hub Market Reports/kvCore Design Centre

kvCore CRM or other CRM/Scorecard

You

kvCore CRM or other CRM/Scorecard

Repeat & Referral Boot Camp, Technology Foundations Boot Camp

The average REALTOR’S® business comes 73% from their network (sphere). As REALTORS® gain longevity in the business, that percent keeps rising.

MLS Data/Hallmark Networking Groups

remax.ca/realtor.ca/signage/print

kvCore Design Centre Postcards

kvCore Open House Drip Campaign

Lender of Your Choice

Hallmark Hub/kvCore Design Centre

Open House Boot Camp, Buyer Conversion Boot Camp, Leveraging AI Automation to Open House Lead Generation

Kijiji/Craigslist/Facebook/Newspaper

kvCore CRM or other CRM

Hallmark Hub

Pricing Boot Camp, Listing Conversion Boot Camp

DID YOU kNOW?

92% of New Years goals fail by January 15th.

83% of adults don’t have goals written or otherwise.

“I never dreamed about success, I

worked for it.”

—Estée Lauder

STEP 8: mARkETING TARGETS

MLS

kvCore CRM or other CRM

Hallmark Hub

Expire Boot Camp, Listing Conversion Boot Camp

MLS

kvCore Design Centre

kvCore CRM or other CRM

Ask Colleagues/Reviews

kvCore CRM or other CRM

Business Plan Source Code

STEP 8: mARkETING TARGETS

Geowarehouse/Canada Post

kvCore Design Centre

kvCore CRM or other CRM

kvCore Design Centre

Expire Boot Camp, Listing Conversion Boot Camp

Geowarehouse/Canada Post

kvCore Design Centre

kvCore CRM or other CRM

kvCore Design Centre

Expire Boot Camp, Listing Conversion Boot Camp

Office

Rental Homes/Apartments Through CRM/Social Media DID YOU kNOW?

Expire Boot Camp, Listing Conversion Boot Camp

Only 3 out of 100 adults write down their goals. IT’S YOUR CALL...

Literally. It’s no accident that BrokerLogiQ Coached REALTORS® earn about four times as much as the average REALTOR®.

People with written goals are twice as likely to acheive their goals vs. those who don’t write them down. DID YOU kNOW?

STEP 8: mARkETING TARGETS

STEP 9: BROkERLOGIQ TRAINING

Which Marketing Targets Did You Select?

What two-to-three Marketing Targets from the previous pages will be your focus next year?

Now simply check the courses your Targets require and watch for those courses to be offered in the office.

LEAD GENERATION COURSES

FSBO BOOT CAMP Teaches the Five-Step-Follow-Up method, a complete, nonthreatening approach to effectively working For Sale by Owners. REALTORS® will learn how to pro-actively solicit, follow up with and close FSBOs in a way that adds value to all.

OPEN HOUSE BOOT CAMP Teaches the Label-the-Looker method, a complete, nonthreatening approach to conversing and following up with open-house attendees. REALTORS® will learn how to advertise and hold highly effective and productive open houses. In-home and follow-up scripts will be discussed thoroughly.

TECHNOLOGY FOUNDATIONS BOOT CAMP Looking to build a strong foundation with MAX/Tech? Examine how the different components of the tech ecosystem work together through the client journey in our Technology Foundations Boot Camp. One of our introductory Boot Camps in the REMAX Exclusive Complete Agent Development series, you’ll learn critical first steps to take when leveraging you MAX/Tech tools, including contact organization, platform automation and much more. Available on-demand, in-person, and live online as a virtual workshop so you can find a learning experience that works best for you!

REPEAT & REFERRAL BOOT CAMP The Repeat + Referral Boot Camp is part of the REMAX Exclusive Complete Agent Development series, our core curriculum designed to build a framework for your business through proven systems and processes. Servicing clients goes beyond the sale. Stay top of mind with your sphere by providing value post-transaction through a 33-point Outreach Program that includes consistent communication and how your CRM can streamline the process.

LEAD CONVERSION COURSES

LISTING CONVERSION Teaches a proven, professional listing conversation. The five stages of an effective listing conversation are covered in detail. Attendees will be exposed to professional scripts and tools designed to set them apart from their competition. Plans, scripts and tools are provided.

PRICING BOOT CAMP Teaches the unique Seven-Step Pricing Strategy™. After attending this class, REALTORS® will feel confident in their ability to help sellers arrive at the most appropriate entry-point price while at the same time adding greatly to their value proposition as a listing consultant.

BUYER CONVERSION Teaches REALTORS® the five stages of effectively working with buyers. REALTORS® learn a complete “Buyers Process,” which covers how to facilitate a buyer conversation, identify appropriate properties, prepare showing packages, show homes, overcome common buyer hesitations and close the sale.

The BrokerLogiQ program is designed for you to take each of the recommended courses three times to reach mastery.

“Your most unhappy customers are your greatest source of learning

—Bill Gates

These courses are recommended for all REALTORS® regardless of what Marketing Targets you select.

STEP 9: BROkERLOGIQ TRAINING

BUSINESS COURSES

ACTIVITIES MANAGEMENT BOOT CAMP The Activities Management Boot Camp of the REMAX Exclusive Complete Agent Development series, our core curriculum designed to build a frame work for your business through proven systems and processes. This boot camp equips you with the essential skills to maximize your output. Devilling into the concept of activity management, you’ll discover that not all tasks are created equal in terms or their impact on building a thriving business.

BUSINESS FOUNDATIONS BOOT CAMP The Business Foundations Boot Camp is part of the REMAX Exclusive Complete Agent Development series, our core curriculum designed to build a framework for your business through proven systems and processes. Serving as your roadmap to success, gain insights into the core beliefs of successful agents, develop dynamic personalized business models, and learn to establish and track specific economic benchmarks.

MASTER COURSES

LAUNCH - A PRACTICAL GUIDE TO BEING A NEW(ER) REAL ESTATE AGENT This program is intended for industry professionals with under two years of experience and is required for all newly registered employees at the company. Sessions are conducted live and interactive, with no recordings available afterward. Participants must hold active RECO registration and have either completed or be currently enrolled in their local board training, as assignments will involve using board resources.

LANDLORD/TENANT SEMINAR SERIES

This monthly series features in-depth discussions with a seasoned real estate paralegal, focusing on the complex issues that often arise in tenanted properties. Whether you’re a landlord or a tenant, this series aims to provide valuable insights into common legal challenges and practical solutions. Each session will explore topics such as lease agreements, tenant rights, landlord obligations, dispute resolution, and eviction procedures, offering expert guidance to help navigate the often tricky legal landscape of rental properties. Attendees will gain a deeper understanding of both sides of tenancy-related issues, empowering them to handle situations with confidence and clarity.

KORMAN & COMPANY LAW SERIES This monthly series offers in-depth conversations with a real estate lawyer, delving into the various legal complexities that can arise during property transactions. Each session provides a comprehensive look at common challenges and potential pitfalls encountered by both buyers and sellers. Topics covered will include contract negotiations, title searches, closing processes, legal implications of financing, zoning laws, and issues related to property ownership disputes. Whether you’re a first-time homebuyer, an experienced investor, or a real estate professional, this series will equip you with expert legal knowledge to navigate the intricacies of property transactions with confidence. By gaining a deeper understanding of these legal matters, participants will be better prepared to make informed decisions and avoid costly mistakes throughout the real estate process.

STEP 9: BROkERLOGIQ TRAINING

DIGITAL MARKETING COURSES

MARKETING WORKSHOP In each of our Marketing Workshops, we will explore live examples of Hallmarkers using various successful marketing, prospecting and advertising strategies that you can copy and execute. We will share a case study of what campaign was done, how much was spent, along with the results. Each session will also have hands-on technical training showing you various marketing and lead generation systems, and present done-for-you solutions offered by REMAX Hallmark’s partner companies to assist you so you can focus on doing what you do best: connecting with clients and making deals happen. The Marketing Workshops are sponsored by BrokerLogiQ and Hallmark Digital Studio, and we present solutions offered by these partner companies, but we will also review and explore products and services relevant to each session provided by other companies so you can compare solutions and choose the one that best suits your business.

INSTAGRAM 101: UNDERSTANDING THE BASICS This workshop helps REALTORS® How do I set up and optimize their Instagram account? (Type of account, creating a profile bio) How do I use Instagram? What is the difference between posts, stories, and reels?

SIX FIGURE CONTENT STRATEGIES: HOW TO CAPTIVATE, ENGAGE AND CONVERT YOUR AUDIENCE Discover the keys to successful content creation from a seasoned creative real estate broker. Learn how to captivate, engage, and convert your audience as the expert shares how they’ve successfully gained tens of thousands of followers across social media platforms, positioning themselves as an authority figure and trusted community leader. In this masterclass, the expert and their business partner reveal:

• Winning content strategies for audience engagement

• Techniques to establish authority and trust

• Systems for guiding your audience from discovery to conversion

• Consistent methods to scale your content creation effectively Uncover the secrets you need to know, stop making common mistakes, and elevate your content creation and business strategies to the next level!

INTRODUCTION TO A.I. FOR REALTORS® A 1-hour session, you will explore the fundamentals of Artificial Intelligence (AI) and learn practical tools that can be immediately applied to your real estate business. The session will cover key concepts of AI, show you how to leverage ChatGPT for effective communication, provide insights into using Canva for design, and guide you through mastering photo editing tools.

ADVANCE A.I. FOR REALTORS® If you’re already utilizing AI in your real estate business, this 1-hour Zoom training will help you dive deeper into advanced tools that can enhance your current strategies. During the session, you’ll explore how to make the most of the paid version of ChatGPT, unlocking additional features for more effective communication and automation. You’ll also discover how to streamline your content creation process by using AI in Canva to bulk create social media items, saving you time while maintaining professional quality across your platforms. This training is designed to elevate your AI usage and optimize your business operations even further.

HOW TO DOMINATE LOCAL SEARCH WITH GOOGLE A real estate professional turned digital marketer as they teach you how to attract clients through Google and leave a lasting impression when potential clients search for you online. With expertise in Google Business Profiles, Google Ads, and local SEO for real estate agents and agencies, this session will equip you with the knowledge to improve your online presence. In the first hour, you’ll learn how to dominate local search results for “REALTOR near me,” discover the top ranking factors for Google Business Profiles, and explore best practices for setting up your profile. You’ll also address the most frequently asked questions, learn eight ways to get client reviews, and understand the best practices for ensuring those reviews appear on your profile. Common myths surrounding Google Business Profiles will be debunked, and other essential online directories will be discussed, including why you should be listed on them. In the second hour, the session will cover how to change your business location and go through the re-verification process. You’ll also participate in live audits for practical insights.

HOW TO USE YOUTUBE FOR BUSINESS GROWTH A 1-hour session focused on mastering YouTube as a powerful tool for marketing and selling property listings. In this session, you’ll learn how to effectively use YouTube to enhance your visibility, gain recognition, and stand out during listing presentations. The session will cover why YouTube is a crucial platform for real estate professionals, how it delivers proven results, and what you need to get started on creating impactful video content. By the end of the session, you’ll have the insights to leverage YouTube for success in the real estate market. In the second hour, the session will cover how to change your business location and go through the re-verification process. You’ll also participate in live audits for practical insights.

STEP 10: ACCOUNTABILITY

Commit to tracking

Now that you have completed your business plan, you’re ready for the rubber to meet the road-doing the action steps your plan outlines!

As with any new plan, the focus and excitement can wane as time passes. It is for this reason that we recommend you track

your daily activity. Tracking shows your progress and helps keep you on track.

Accountability works!

Experience has shown that successful accountability is done with other like-minded and likeproduction individuals.

It’s for this reason that BrokerLogiQ offers accountability specific to your production level versus a onesize-fits-no-one format.

STEP 11: GET SPECIFIC ABOUT YOUR GOALS FOR THE COmING YEAR

Based on the just completed business plan, you now know your financial goal which is a huge step. But there’s more to life than money. Besides your financial goal —which should be written in the goal format below—what are one to two other goals you want to achieve next year?