Your business plan is easily the most important document you’ll touch while involved in real estate investing. Do you have what it takes to craft a killer real estate investing business plan that will propel you to success? Maybe it is time to increase your real estate education.
Whether it is being created for your own use, raising outside funding or to recruit business partners; you absolutely need a written business plan that facilitates success. Your business plan will decide, whether or not, you will achieve your goals and end up on top of the industry.
So what is it that you can do to set yourself apart form the rest of the field?
Co-founder of G-Code Magazine, Tim Houghten, who has led business development for several multi-billion dollar firms recently authored an article saying that “90% of an entrepreneur’s odds of success could rest on the strength of their executive summary alone.”
Besides organizational charts, marketing plans and financial projections; some of the other most important elements of a solid business plan are market research and a cash flow analysis. However, each of these may be rendered useless without the appropriate real estate education. Providing yourself with a solid foundation can maximize your results.
Aspiring real estate entrepreneurs may find the Harvard Business Review and the SBA extremely valuable. As resources, they are a good way to expand your real estate education. However, receiving industry specific tips from FortuneBuilders’ real estate education courses can give you an even greater advantage.
There are many business plans out there on the web today, but don’t get stuck in the past. Instead, embrace a multimedia approach that will help your business plan grow to its full potential.
Also, remember to make your business plan adaptable to a changing market, as tweaks and changes will be necessary to keep up with new trends. Don’t be afraid to get help. Bring in writers, real estate coaches and graphic designers to help polish your plan and make it brilliant.