Ch 2. Business Planning

Question 1

Why is a Business Plan Critical?

Answer 1

1. Clarifies your priorities to achieve your goals
2. Gives you a benchmark you can use to measure your progress and make course corrections
3. Gives you a means to create accountability

Question 2

What are 5 Critical Elements of a Business Plan?

Answer 2

1. Your Personal Vision/Goals: These should excite/motivate you every day to perform at the best of your ability.
2. Your Target Market: Define clearly your target market, allows you to be an expert.
3. Activities: These activities should lead to the income goal you created for yourself.
4. Projects: Long term goals, can be taking classes to develop skills, etc.
5. Accountability: Implement tools to make you continue your strong mindset/skillset. Meet with RM/Senior agent. Give small rewards when you hit your goals. Use visual means to track your progress.