MREA CH-9 BUDGET MODEL
MILLIONAIRE REAL ESTATE AGENT BOOK
When you see every dollar spent as an investment in your future, you'll approach budgeting with more excitement and a high level of Interest. Your philosophy should be that every dollar invested in a business expense, you should receive some multiple of that dollar back. Dollar-for-dollar is not enough. Why? If you were to invest a dollar and get only a dollar back, why would you go to to the trouble of spending it in the first place. every dollar in your business can be accounted for in this way. And when you view budgeting in this manner where expenses are investments. You'll get excited and see your budget for the powerful financial planning tool that it is.
1) LEAD WITH REVENUE - the key to budgeting and spending it to subscribe to one critical discipline lead with Revenue not expenses. The basic idea is to try to spend only money that your business has generated. Or to put it simply, make money before you spend it. Companies that successfully minimize their start-up costs and debt before they open for business and start generating Revenue quickly have a much better chance of survival. As we saw in the.com boom and bust error some companies perceived as having smaller upsides ended up outliving many of the high-profile companies by FOLLOWING better business practices
2) PLAY RED LIGHT GREEN LIGHT - you should never be as concerned with how much money you're actually spending as you are with the results you get by spending it. At some point in your career it will take the careful spending of money to make money so overtime be prepared to invest money back into your business to build it. The problem is holding the money you're spending accountable for results. And the solution is the same old game Red Light Green Light so if you begin the process by Leading with REVENUE you and you are always investing your money your sales business has already generated then your job is to hold that investment accountable
3) STICK TO THE BUDGET - obviously, as your business grows from one stage to the next your actual cost will be very different however your percentages may not be. What we have discovered is that no matter where you are on the Continuum the percentage remains remarkably stable some general examples of what budgets are various production levels might look like are in the book.
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DNA REALTY GROUP
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David Martiroso
Quadruple Gold / Director of Operations
DNA Realty Group -
DAVE'S OLD FSBO CALLING VIDEO FROM 2012 https://youtu.be/lnLqp_ol7R4
