How to Decode My Business Plans for Maximum Success

A couple of weeks ago, I dug into the archives and published my business plans from 2007, 2008 and 2011. If you missed the post, you can check it out here.

Many of you commented about all the acronyms… I know my business plans read like a military operations chart! 🙁 To help out, I’ve created a glossary of terms to help you decipher my shorthand.

Tyler’s Business Plan Glossary

  • 800# Leads (1-800 Number Leads): 800 numbers were used on ads and signs. These numbers could be tracked (I tracked everything!) so you knew where the caller saw the number. It was a way to collect analytics on various advertising channels
  • A+ Clients: top referrers or “Diamond” clients. These clients are rare commodities and should be prioritized. Dive into your sphere of influence
  • Annual Review: annual reviews were sent to every client to update them on current industry trends and specifics regarding their property.
  • ASC (Agent Service Center): the ASC was the relocation department for my brokerage. Agents would call in and get leads on clients who were relocating. The referring agent would get a referral commission.
  • BIA (Building Industry Association): the BIA is the local chapter of the National Association of Home Builders. Joining a local builders association is a great way to network.
  • CAP (Customer Appreciation Program): a monthly mailer to clients that had helpful tips, fun facts or current market trends. This provided useful information while keeping my name on the front of their mind.
  • CCR’s (Current Client Referrals): current clients are one of the best ways to get referrals and they are a hugely overlooked resource.
  • EOS (Evidence of Success): Evidence of Success is a letter I would send to my database several times a year. It’s basically a brag piece about how I crushed it, whether I helped a family relocate or I sold a house in a short amount of time. I wanted my sphere to know that I was out there hustling! Here’s a video that puts a modern spin on my success letter.
  • LFTH (Letter from the Heart): the Letter from the Heart is how I would emotionally connect with my sphere of influence. Many clients think of you as a salesperson, a negotiator or just non-human. It’s important that they connect with you personally. I would write something personal about my goals for the year or charities that I’m active with to show my clients that I’m more than just a Realtor. Need some inspiration?
  • P-Notes (Personal Notes): I can’t stress enough the value in writing personal notes. Check out of few of my thoughts on this: The Power of a Handwritten Note, The One Thing Technology Can’t Replace
  • PF Dinner (Personal Friend Dinner): my personal friends were some of my biggest referrers and I wanted to make sure I spent quality time with them.
  • Sac 20/30 and SYP Sactown (Young Professional Organizations): I joined organizations to meet new people and to network. I wasn’t going in there with a sales pitch. I genuinely wanted to meet other people my age who were hustling (see Wine Meetup).
  • T10 List (Top 10 Referrers): the Top 10 referrers in my database (see A+ Clients)
  • Track Home/Builders: I wanted to make sure I connected with the local home builders in my area. When the market crashed, builders laid off their staff and networked with Realtors instead. At the time, it was a really great opportunity for agents.
  • Wends Updates (Wednesday Updates): every Wednesday I would call/email/text current clients and give them an update on where we were in the transaction. Whether it was good news, bad news or no news. I would touch base with them consistently. See: Communicating With Your Clients
  • Wine Meetup: I joined meetups and participated in social activities that were of interest to me. I did not participate with the notion that I could pick up referrals or clients. I wanted to connect with like-minded people and I wanted to nurture organic relationships. Join a Meetup

What other questions do you have? Is there anything that you would like me to dig deeper into? Let me know in the comments!