No Broke Months For Salespeople - How Many Appointments Do You Need to Hit Your Financial Goals

Episode Date: July 28, 2024

How Many Appointments Do You Need to Hit Your Financial Goals   Business Coach Dan Rochon from the No Broke Months Podcast discusses how many appointments are needed to achieve financial goals.   Dan introduces a simple yet powerful equation to determine the number of appointments you need annually to reach your financial goals.   Join our new No Broke Months Podcast episode to learn how to break down actionable steps toward hitting your financial goals.  To find out more about Dan Rochon and the CPI Community, you can check these links:Website: No Broke MonthsPodcast: No Broke Months for Salespeople PodcastInstagram: @donrochonxFacebook: Dan RochonLinkedIn: Dan Rochon

How much money do you want to make? What's your average commission? Divide the big number by the little number, and you come up with a very, very small number. Multiply that by 1.2. Divide that by 0.65. Divide that by 0.65. This now gives you, with clarity, how many appointments you have to have annually to be able to reach your financial goals. So now your job is to take that number. Your job is to make that happen. Welcome to the No Broke Months for Real Estate Agents podcast. Working as a real estate agent can be incredibly rewarding and fulfilling, but it can also be frustrating if you aren't making the money you deserve. So if you're ready to end the stressful cycle of working hard for no results, then get

started with a proven step-by-step system so that every month is No Broke Months. My name is Dan Roshan. I'm the host of the No Broke Months podcast, which is a show for real estate agents to help you have no broke months. Thanks for joining me. Enjoy the show. How many appointments do you need to hit your financial goals? Business coach Dan Roshan from the No Broke Months podcast discusses how many appointments are needed to achieve financial goals. Dan introduces a simple yet powerful equation to determine the number of appointments you need annually to reach your financial goals. Join our new No Broke Months podcast episode to learn how to break down actionable steps toward hitting your financial goals. So let's do a little exercise, guys. So I want everyone to take out a pen and paper.

And I want you to consider how much money do you want to make in the next 12 months? Now, what's your average commission? Write that number down. Now divide how much money you want to make by the average commission. I want you to multiply that by 1.2. What numbers do you guys have right now? John, what number do you have? I came out with $15.99.

$15.99? All right. $15.99? Yes. It was99? Yes. It was like 16, like the whole number 16 is what you got? Right. Myrna, what's your number now? 17.

17. Okay, fantastic. Okay, so now that's the number of closings that you need to be able to reach your financial goal. So now you're going to take the number of closings that you need to hit your financial goal. And what you're going to do is, and you're going to divide that by 0.65. So whatever your number is, you're going to divide that by 0.65. And for Mirren, she comes up with 26. And then you're going to take whatever that number is,

and you're going to divide it by 0.65. And for Mirna, she comes up with 40. Okay. Now, what I just did there were beginner numbers. So for Mirna to hit her financial goal, she has to have 40 first time appointments. In a year. So that's less than one a week.

And when I said these are beginners numbers, because I calculated that she'll get hired 65% of the time. And then I calculated that 65% of the people that hire her will go to closing. So I'll go through that again one more time and then we'll get some feedback from you guys. So how much money do you want to make? What's your average commission? Divide the big number by the little number and you come up with a very, very small number. Multiply that by 1.2. Divide that by 0.65. Divide that by 1.2, divide that by 0.65, divide that by 0.65. Oh, none of us got into real estate sales, so you wonky math, right?

Yet, this now gives you, with clarity, how many appointments you have to have annually to be able to reach your financial goals. Okay. So I'm giving you beginner numbers. Your numbers may be higher than this. My numbers are higher than this. Okay. So my numbers are like 0.85 and 0.85. Okay. But I'm giving everybody here, I'm being pessimistic so that we make sure that you reached your goals. If you're better than that, you know, then, then, then, you know, if you're better than that, then you can, you know, you can increase that 0.65 to accordingly, but probably the highest at that 0.65 is going to be probably 0.85. Just looking at the numbers, I'm surprised. I don't think I did it wrong. just how few appointments that breaks down to over

a day or a month. Yeah, most people are. I can't tell you every single time I've done this exercise, the same feedback's like, is that it? I can do that. That's the most general feedback that I get. So now your job is to take that number, that number that you came up with, that last number, and your job is to make that happen. And so let's say that last number, let's call it, the last number was 25. Let's just use easy math. Let's do 26 because I can do the math easier.

That means that once every two weeks, I have to be on a first-time appointment if that was my number. Now, that's non-negotiable. So you wrestle your time. You got two weeks to figure out how to get one appointment that meets with you. You think if you spent the next two weeks and your only job was to find somebody to meet with you to buy or sell a property that you could do that, if that was your number. I know the math sometimes gets a little bit wonky and we don't want you to get wonky. And, you know, I hope, hopefully this was helpful and useful for you. You know, giving you like a barometer of, you know, here's a way to be able to be successful. And you just hit that number.

Thanks so much for listening to the No Broke Months podcast today. Until the next show, I invite for you to be grateful, make good choices, help someone, have the best day of your life, and go find a listing.