How much are you going to invest in your business this year?
Your first consideration is “How much did you invest in your real estate business last year and what was your ROI? Secondly, what were the dollars that produced “results”! Start making a list of your activities, dollars spent and what were the results!
Here is your measuring stick and rules:
- You must constantly be measuring because you can’t manage what you don’t measure.
- Look at your past expenses and determine if you received a favorable return on the investments in your business.
- Simply focus dollars in the areas that generate a result.
- A rule of thumb for marketing dollars: You should invest a minimum of 15% of your gross income (dollars before commission split and/or fees to your broker) in marketing dollars.