Jan 11, 2023
When you talk to some serial entrepreneurs you need to put on your seatbelt! Lots of us, as REALTORS®, have that entrepreneurial bent, starting and running our own businesses. Imran Poladi started young selling real estate. He served as Vice President of NextHome Real Estate since the launch of the company in 2014 until July 2022. He has mentored brokerage owners and as a speaker, he’s taught thousands of agents concepts of business, real estate, and living life.
In this episode, we are talking about business planning. But we’re also talking about living life the way you want to live it. Though Imran loves business, he also likes taking control of his life and changing it up sometimes. He lives in California. You can read his full story at ImranPoladi.com.
[4:11] Business planning comes around every year. Imran shares his take on this topic.
[6:41] Some people start their business planning at the end of December. Imran says you need to know what your budget looks like in the fall.
[9:22] Every year, you rebuild your business. Do you want to grow your business? Do you want to maintain your business? What are the elements you consider when you’re planning your business?
[9:53] Imran works backward. He operates off a “need” goal and a “want” goal.
[15:14] Imran cites the Five Love Languages, by Gary Chapman. Imran teaches a version of this in his speeches around the country. He speaks of the Five Love Languages of Real Estate.
[21:18] Every individual has personal motivations. It doesn’t help you to ask someone else what you should be motivated by. You already know what your motivations are.
[23:05] Start your blueprint by understanding what you’re not willing to do.
[27:58] When you try something, you learn from what happens when you try it. You’ll learn new communication skills. You’re going to learn something with everything you try.
[31:11] Imran shares the 30-30-40 rule.
[37:36] Before making a big change, talk to the people that it affects. Are you setting the foundation that when the change happens, you’re prepared for it?
[39:32] Make sure that ultimately the change ends up making you happy in what you’re doing.
[43:56] If you look at your beginning business and try to imitate someone’s established business, it can set you back in your career.
[55:07] Where can you go to get a one-to-four or one-to-three return on your lead generation spending?
[57:40] The key is finding how you get to your top 100 connections. Imran cites the book 1,000 True Fans.
[59:26] People can’t get to know you if you’re hiding who you really are. Live according to your core principles so people know what to expect of you.
[1:04:20] Imran says, if you want to do really well in business, you have to connect with people who have the same drive as you, the same enthusiasm as you, and the same willingness to learn as you.
[1:07:58] If you want to hear more suggestions or direction for business planning, we have Episodes 8, 9 and 63. You can find them at CRDpodcast.com.
“Let’s line up your business planning in two formats: ‘need’ goal, ‘want’ goal. And then let’s go for the ‘need’ goal first so that way you create the foundation.” — Imran
“It’s always important for us to figure out who is our customer, who are we helping, and where do we get the joy in helping them?” — Imran
“When you start with figuring out what it is that’s the ‘no,’ it creates the blocks … for the ‘yeses.’ … What is your ‘no’? If you know what your ‘noes’ are, then you can configure your ‘yeses’ to them.” — Imran
“If you’re strategic about it, everything works.” — Imran
“The question then becomes why are you standing in front of that machine [of online lead generation] putting a dollar in and getting 75 cents out? And keep doing it? That’s how you have to look at your business.” — Imran
The Five Love Languages: The Secret to Love that Lasts, by Gary Chapman
1000 True Fans: Use Kevin Kelly's Simple Idea to Earn A Living Doing What You Love, by Jon Longhurst
“008: Business Planning, Part 1: The Principles with Mark Given”
“009: Business Planning, Part 2: Applying the Principles with Misty Woodford, Trish Myatt, and Barry Owen”
“063: Real Estate Business Planning for 2022 with Brent Lancaster”
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