Which Property Strategy Should You Do? Writing A Business Plan
Hello, I’m Samuel Leeds! Today, I’m going to talk about my twelve years of experience in the property industry, and how to put together a business plan. Even though I talk about property here, this business plan can be used anywhere.
So, let’s begin!
Business Planning = Goal Setting
Business planning is quite similar to goal setting. I’m talking about a plan that helps you win in property. Most people don’t even have set goals; they don’t even know the difference between goals, targets, and strategies.
If I ask somebody what’s their goal, they’d say to have three properties.
That’s not a goal, that’s a target.
They may say they are making ten grand a month.
Again, that’s not a goal that’s a target.
No wonder people fail! Imagine a group of footballers who don’t know that they need to kick the football to the goalpost. They’d be kicking it in all directions.
People do the same thing with business as well. They think they’ll go to a couple of networking events and have a bit of a chin wag and hope to see what happens.
Goals, Targets, And Strategies
So, I want you to write on a piece of paper: Goals, Targets, and Strategies.
Your goals are your personal goals, such as to travel the world, to build a water pump in rural Africa, etc. These are personal goals. You want to write them down.
Next, is your target. Your target is how much money you need to achieve in order to facilitate your goal. For example, you want to have a big house and drive a Range Rover. How much money would you need to be able to do that? Perhaps you need to become a millionaire to be able to achieve your goals!
Next, come your strategies. So what strategies would you use to achieve that financial target? Is it going to be rent-to-rent? Is it going to be deal packaging? Is it going to be BRRR?
And people often ask me what the best strategy is. And I tell them that until they get clear on their goals, I can’t answer them. Are you looking for cash flow? Are you looking to make a fast pound? Or are you looking for a slow pound? Are you wanting to build wealth? Are you wanting to build a portfolio to leave a legacy?
So if you want to get clear on your goals and strategies, I’m hosting a free webinar that you can join. I’ll help you create a bespoke strategy based on your goals.
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