I’ve seen a lot of agents posting about their growth plans for this year and it’s great to see, HOWEVER…

Most of them are based on whims and dreams with virtually zero accurate budgeting and forecasting.

To bring in a new income stream there will be a cost, so without one you can’t and shouldn’t have the other, they go hand in hand.

I saw a thread on another forum where people were talking about increasing business by 100% and in some cases over 200% and I want Sunderland to get back into the premiership – doesn’t mean it will happen soon (or in my lifetime).

How? Why? Is that really part of your B&F for next year? Just 200% increase with no plan? That’s called a prayer.

Whilst budgeting and forecasting is a good thing, you must be accurate, reasonable and be able to back it up.

Also, monthly you need to compare and contract your B&F to your P&L every month and hold your predictions, and yourself, accountable.

One of the things I say to my coaching clients is make sure it’s achievable as when we discuss your monthly P&Ls, I’ll be holding you accountable to not only the revenue but also the expenditure.

By the way, you all know how active we are in acquisitions, and we don’t map out the B&F to include any acquisitions, that’s classed as a bonus.

So, if you don’t do B&F, then start!

If you do, just make sure it can stand up to scrutiny.

Thoughts?