The Wisdom of a Business Plan by Mendy LipskerThere is an old saying: “If you fail to plan, you plan to fail.” For people in the real estate business, or in any business, having a good business plan is a wise move. I’ve put together a few pointers:

What is a business plan?

According to Wikipedia:

“A business plan is a formal statement of a set of business goals, the reasons they are believed attainable, and the plan for reaching those goals. It may also contain background information about the organization or team attempting to reach those goals.”

What does it consist of?

  1. Make sure what you are selling is clearly defined.

  2. If you are in real estate, what part of real estate are you working in? Be specific.

  3. What is your specialty?

  4. What is your marketing plan?

  5. How are you going to test the market?

If you are in a business, most likely you’re going to have competition. You must have a plan to stay ahead of or beat the competition. If you’re an innovator, you’re going to have people trying to copy your methods.

If you are a marketer and you do have competition, what can you learn from your competitors? You don’t want to copy what they’re doing, but maybe you can learn something from them that you can adapt to your business plan.

Also, what can you learn from your customers? What are they looking for? What are their needs? In order to be successful in your business – whether you’re in real estate, any part of real estate or any other business – with whom do you need to surround yourself?

We have to constantly be open to learning.

If you want to have a business plan, focus on these pointers:

  • Know who you’re selling to

  • Know what you are selling

  • What makes you stand out in the market?

  • What can you learn from your customers and your competitors?

  • Who do you need to surround yourself with in order to get the job done?

Short, sweet, and to the point.


Mendy Lipsker
Mendy Realty Inc.
822 Montgomery St
Brooklyn, NY 11213
Phone: 646.662.5454
email: info@mendyrealty.com
website: mendyrealty.com