Time to dust of the Social Network Business plan again

Hi, it’s Bob Carney. Remember me?  Yeah, I know it has been quite sometime since I have been back here.  I have been doing an unofficial study of my business, mainly on how my social networking relates to it.  This past summer I backed away from the social network scene and sold a few houses, managed a few offices, volunteered for a few organizations and contributed time to my local real estate board.  It was more unintentional at the time due to the lack of time, but I soon realized there was a correlation between the amount of work done and the amount nonproductive time spent on the internet socializing was completely unbalanced.

This is not something new to me, but it requires you to back up an rediscover it again.  I wrote about creating a Social Networking Business plan at the beginning of the year.  I have somewhat held true to what I initially stated.  I have since neglected a few of my blogs.  I now infrequently post to them (at least the ones that are not directly related to incoming business.)  I stopped joining all the latest and greatest social network sites.  But, I would have to say that Twitter has been the biggest time consuming culprit this year.  I enjoy talking with all my online (and “met in real life”) friends, but my lack of discipline is taking away from time from meeting real consumers.  I truly miss them all.  No doubt I have made some great contacts locally and nationally. I will continue to foster those relationships, but at a more regulated pace.  It can be too addicting to stay in a conversation with hundreds of your friends all day.  But I had to stop or at least slow down.  Now, with all this “extra” time on my hands I was actually able to reach out to my community and meet real people that would sooner or later like to use me as their REALTOR®.

I open my mind to you during my time of rediscovery so you can do a little self reflecting too.   I sat back this summer and watched all the conventions take place, read all the feedback and listened to all of the stories.  I noticed one thing, we flock together, like sheep (not like the ones they throw on Facebook.)  It is always the same 4% agents (NAR stats.)  Granted, the conventions solidify friendships and foster a few new ideas, but what have you really taken away from this?  Where do your consumers come into play on this?  This is by no means a post to discourage you from conventions or seminars with the rest of the “Early Adopters,” but a moment for you to think…”Where am I going with all of this?”  You should always continue to educate yourself, but first and foremost there should be a direct relationship between your activities and your business.  For one thing, you should be able to measure the payoff.  We are in slower times right now and we have the luxury of having nonproductive time on hand, will you be ready when it picks back up?  Systems in place that allow you to quickly handle multiple transactions at one time?

2009 is right around the corner and I believe it will be better than this year…will you be ready?  I challenge you this;

  • Create a Social Media Business Plan and stick to it
  • Get involved with your community
  • Show one new real estate agent on how Social Media helped you. (grow the 4%)
  • Fine tune your systems so anyone can do them (put them in writing.)
  • Have fun
This entry was posted in Uncategorized. Bookmark the permalink.

8 Responses to Time to dust of the Social Network Business plan again

  1. This is a very insightful post. I have lately been wondering about this myself. While social networking certainly can benefit your business, it’s easy to go overboard and spend too much time Twittering or commenting on other blogs. You have to really step back and analyze how much of that is actually paying off and how much of it is really a waste of time. I’m not sure where the line is drawn just yet.

  2. I read this blog post and think to myself, how much non productive time has been spent in online social networking on my part. Chitter chatting with other REALTORS. It is time to get to business I guess.

  3. I have to admit that until reading this post I hadn’t given much thought about a social media plan.

    Having a plan makes sense. In my case I need to find the right balance between social netowrk for business and for fun.

  4. Like everything, balance is the key. So many people get their info from the internet, that Realtors have to find ways to engage fellow collegues as well as create new business for themselves. I agree with the Realtor from NJ however that one can spend alot more time dilly dallying on the web vs increasing their business opportunities. I guess it is the 2008 version of standing around the coffee pot at the office.

  5. Bob Carney says:

    While not all chit chat is ineffective, you shouldn’t abuse your time online. I have numerous useless hours online, but I can’t say that it wasn’t completely useless. I use it to build and foster relationships and keep on top of new technology. There comes a time when you should realize you have other things to do.

    I do think the key is moderation, and that is something that can easily be overlooked.

  6. Good post Bob. I do believe that social networking can and does have its place within any marketing venture, but of course, as you say, the key is moderation.

  7. OH… why would you create another social networking business plan when the one you did cost you in other areas of your business?

    How about creating a One Page Business (and marketing) Plan(r) that includes “build business by contacting x” people and posting “x” ___ on social networking by ____date______.

    And if your blog is important to your business growth, use that as a strategy for business growth, too?

    And you’ll be able to monitor your ROI.

  8. Bob Carney says:

    Hi Maria, Not sure I am following your first comment. But I think I have idea at what you are getting at.

    Yes, you need track your ROI. If you have tracked your previous performance, you will will be able to create a formula similar to what you have above that will guestimate your future performance. But if you don’t have a track record, you should still put down in writing what your intended business plan is going forward.

    Most of your business plan is in fact your marketing plan with real conversion numbers.

    Like a child with ADHD, I can get easily distracted and move on to something else that is not productive, because of all the pretty colors. Putting things like this in writing keeps me focused as well as some of our gentle readers.

    Those that fail to plan, plan to fail ~ some wise business coach.

    Thanks for you comment.

Leave a Reply

Your email address will not be published. Required fields are marked *