This week, I got to attend one of Tom Ferry’s Roadmap events right here in Boston. It’s always inspiring to spend time with Tom and other folks from within the ecosystem. It gets me thinking bigger—thinking about the things I’m capable of doing and the things I know I should be doing. 

And while inspiring, these events can also be overwhelming; all those big goals and big ideas come with a lot of thoughts, wondering if they’re actually possible, and if so, how?

So I thought I’d share with you all a revised version of the presentation I gave there. 

Breaking down your 2024 goals

Have you ever felt a bit lost in your real estate journey? Maybe you’re not sure where you’re headed or how to get there. My goal is to share with you some quick actionable items that will help you gain the traction you might need to accomplish your goals in 2024. 

If I were to ask you what your goal was with respect to your real estate business, you might tell me where you want to be in 10 years or so. You could probably tell me the thing that lights your soul on fire, what it is you’re really working for, why you get out of bed every morning and do what you do. 

Maybe it’s to put aside enough money to pay for your child’s education. Maybe it’s to build a portfolio of rental properties that generate enough income to fund your retirement dreams. Maybe it’s to build a team that sells 250, 500 or even 1,000 homes in a single year. 

Those big goals are important because we have to know where we’re going. But without chunking it down into smaller, more attainable goals, it will be difficult to find your way there.

This is where rocks come in. Rocks are the smaller, more manageable goals that we set for ourselves. Each one is designed to get us one step closer to that ultimate 10-year goal. 

90-day rocks

Rocks represent the things we need to accomplish over the next 90 days. Whenever I’m chatting with agents in my company, I always encourage them to have at least two goals or rocks for each 90-day period. 

One is production-based—working in your business—and can be measured as units, volume, or revenue. Another is working on your business—building a system, learning a new skill, or what have you. 

How do rocks apply to a real-life scenario?

Let’s assume you are one of the people working to save enough money to fund your child’s college education over the next 10 years. 

We can assume that you need at least $250,000. That can seem like a daunting number. No doubt, for many of us, that would make us think that this is an impossible task, and we may just give up. But if we break it down, it becomes increasingly more doable:

If in 10 years we need $250,000, that would mean that in five years we need about $100,000 in our savings account. 

Remember, we don’t actually need half because it will also be earning some interest along the way. At the end of year three, we need about $55,000 in our savings account. To be on track for that, we need to get to the end of year one with $17,500 in our savings account. 

That can still seem like a pretty big task. I remember from 2010 through 2014, I wasn’t even earning that much money in an entire year—forget putting it aside for savings. But there is a way to make this task seem totally attainable. 

If we break this down even further and say, “What do we need to save in the first 90 days of 2024 to be on track with this goal?” the answer may surprise you. It’s simply $2,625. That’s it. That’s all we need to save in quarter one. 

Remember, New England is a very seasonal market. We’ll do maybe 15% of our annual sales volume in the first quarter, so we don’t need to have even 25% of that $17,500 in quarter one to be on track. How much easier does it sound to know that over the next 90 days, you need to just put aside $2,625? 

For most of us, that is less than what we would make selling just one home. Now, can you see the power of 90 days? 

Why 90 days?

What’s so magical about that number 90? 

Well, it’s just long enough to achieve something meaningful, but short enough to keep that fire burning. Think about it this way: How many of you have ever crafted a business plan? How many of you have created a marketing plan to accompany that business plan? 

I know I always did. I would meticulously spell out every aspect of my business plan. My content calendars would be created and published. At the start of the year, I would look at that plan weekly to make sure we were on track. By the end of January, I’d be looking at it every few weeks. By the end of March, I’d be looking at it monthly. And then by June, it was tossed in the bottom of a desk drawer or lost to the abyss that is my Dropbox. 

Breaking those rocks down into weekly goals

Here’s where the magic starts to happen. Once you know what your 90-day rocks are, the things that will help you accomplish the big goal, you can start to break it down even more. 

What do you need to accomplish week by week in order to stay on track? Setting those weekly goals and then tracking the results each and every week will allow you to quickly assess whether you’re on track or off track. 

Maybe even more importantly, it will help you break down each component individually and see exactly where you’re either on track or off track. It’s black and white. 

So I’ll wrap this up by challenging you to answer the question, “What is your goal for the next 90 days?” 

And what area of your business will be your primary focus? 

Set your goal now, and get to work.