Everyone plans….or at least, they should. But do you know how to
plan properly? Being a “prepper” means you commit to prepare… but proper
planning involves more than just buying food, gear or learning survival skills.
Those are immensely important… but if you don’t have a plan, you will have to
make things up as you go, and unfortunately, many REALTORS “wing it” year after
year and then wonder why they can’t get ahead.
But most business people don’t really have military training on
how to plan… so here is how the PACE system can be used on the seemingly simple
objective of …To Light a Fire.
Lighting a fire may not seem important as long as the heat is
working or the temperature is above freezing…but could become the difference
between life and death, (or at least being really uncomfortable), under extreme
conditions.
What is P.A.C.E.?
Primary – Alternate – Contingency
- Emergency
Primary
Objective- To light a fire.
Primary: {I will start a fire
using my butane lighter}
This is the overall best
plan of action to take, or system to use, based on your objective or goal. It’s
your Plan A. This is where most people end. It’s typically a good plan but if
you haven’t gone through different scenarios of what could go wrong, how do you
know it will achieve your objective?
The primary plan is specific, it’s a good plan, and in its
written form…is more than most REALTORS have, but it has holes in it... What if
you lose your butane lighter or it doesn’t work? So…..You need another plan.
Objective- To light a Fire.
Alternate: {I will start a fire
using my stick matches}
In theory, your Alternate plan (Plan B) should be just as viable
as your Primary plan. That isn’t always going be the case… but you should strive
for it. Why do we have alternate plans?... Because things happen.
So when things do go wrong… and trust me… they will go wrong… you
have a solution. To make your plan B work…
we’ll assume you have planned and purchased a box of waterproof stick
matches.
With business planning, how you decide what your alternate plan is
going be is sometimes situation-dependent. So for every objective/goal in your
written business plan you will need a “PACE” plan.
Contingency
Objective- To light a fire.
Contingency: {I will start a fire using
my magnifying glass to start a fire}
Your contingency plan is what you’re going do if Plan A and B
fail. The contingency isn’t always (or isn’t usually) as good a choice as the
others but you need it or you are going to be really, really cold!
It should be something polar opposite of your Primary and Alternate
plans. As in this contingency plan using a magnifying glass, you can only rely
on it when you have access to the sun. This is the reason you will always have
to have the next step in PACE… Your Emergency Plan… to cover all the “what-ifs”.
Emergency
Objective- To light a fire.
Emergency Plan: {I will make and
use a fire drill to start a fire}
An emergency plan will not be the easiest or most convenient
plan, but it should still have the ability to meet your primary objective…So in
this scenario you will need to educate yourself on how to start a fire using a
fire drill before the time comes to utilize the skill in a life or death, (or
at least a very uncomfortable), situation.
Debrief:
Using PACE in your business may seem like overkill, but quite
often just having a primary plan to meet your goals is not sufficient…and just
as likely having only a “plan B” will not get you there either.
Below is a simulated Real Estate Related PACE Plan:
Primary
Objective- To close 24 sales in 2014Primary Plan: {I will consistently work my book of business and farm the neighborhood I live in}
Alternate
Objective- To close 24 sales in 2014Alternate Plan: {I will do one home buyer and home seller seminar per month in addition to my Primary Plan Activities}
Contingency
Objective- To close 24 sales in 2014Contingency Plan: {I will do one Open House and Two Phone Duty Times per week in addition to Primary and Alternate Plan Activities}
Emergency
Objective- To close 24 sales in 2014Emergency Plan: {FAILURE IS NOT AN OPTION! In addition to Primary, Alternate, and Contingency Plan Activities I will work FSBO’s, Expireds, and WithDrawn Listings, I will pass out 5 cards every day, I will take donuts to RELO and beg for business, I will ask vendors for referrals, I will ask every agent in the office to remember me if they have a lead they can’t handle, I will cold-call, warm-call, even call my Mother-in-Law and yell at the top of my lungs “I can help you with your real estate needs” if needed….but I am going to close 24 sales in 2014!}
Get the idea? For more info on business planning for 2014 call
818-785-4201!
Eddie Brown ©2014
