Also, check your state laws as to whether you must open your practice as an LLC or a corporation.
If necessary, consult an attorney to make sure you're compliant with local laws.
If you get to the last couple of years before retirement before considering the value of the business, it may be an inopportune time to sell it.
You should start thinking about how much the business is worth early on and how you can increase the value of it.
Y., takes a "whole business approach" to coaching, focusing not only on essential sales skills such as presenting and prospecting, but also quality of life and personal finance.
Before construction begins on a home, a solid architectural plan is laid out to guide the construction team.Rich Levin is a national real estate speaker and sales coach.His company, Rich Levin's Success Corps Inc., Rochester, N.Written operations and procedure manuals that give step-by-step instructions for even the most obvious tasks are necessary.It's important to outline a detailed business plan and outline what steps will need to be taken to get your brokerage off the ground.You've gotten your broker's license, and you've decided to step out on your own.You've been successful as an agent, which means you have experience in developing a plan and following it through.From national marketing exposure to group buying power for everything from signage to advertising space, the franchise provides immediate "bigness" to the brokerage.Of course, all this comes at a cost, both upfront and ongoing.All beginnings are hard, but you should start this process today if you can. Focusing on the activities leads to frustration and self-criticism.And remember: The person with the best plan does not win. Targeting the desired results stimulates motivation and provides insight into what is working in your business and what needs your attention.