Let’s look at how to plan your Knocking in order to Reach Your Revenue Number

KNOCKING TO REACH YOUR REVENUE GOAL

Your revenue goal for an exact timeline helps you answer this crucial question: How many sales do you need to meet your goals? You were introduced to the basic commission math formulas in the last video. We’ll revisit them here. 

Say your goal is to own a house worth two million. For that, you need a down payment of $400,000. If $400,000 is your goal. How many sales do you need to earn that? You need to divide this by the average home values in your target area. 

Remember, you can adjust your personal math to match your city and area. To do that, research exact numbers for each target area to keep your math accurate. 

Here we’ll use $30,000 as the average commission. 

How many homes do you need to sell to earn $400,000? Divide this number by $30,000. In the last video, we did this math and know it equals 13.3 homes. So that is how many homes you would need to sell in a year to earn $400,000 and reach one of your lifestyle goals. 

I always say, if you help enough people get what they want, you will get what you want. When you think about it, it is crazy how few homes you have to sell to reach your revenue goals.

The next question is: How many doors do you have to knock to land these sales? 

Let’s revisit the basic knocking math formulas outlined in the previous video.

When you know the number of sales you need, you can apply the following. 

# sales needed x 2 = # listings needed

Then you can reverse engineer to find out how many appointments you’ll need like this. 

# listings needed x 2 = # appointments needed Lastly, you can calculate that into the number of doors.

# appointments needed x 100 = # doors to knock

For example, if you need to get 5 sales (or $150,000) to reach a goal:  

5 sales x 2 = 10 listings

10 listings x 2 = 20 appointments

20 appointments x 100 = 2000 doors 

2000 doors / 100 per week = 20 weeks.

If you knock 100 doors a week, you’ll have enough sales to reach your goal in 5 months. Or, another way to look at it is you’ll get one appointment a week. Or, even better, you’ll average one sale a month! 

Looking at your goals in terms of action math is kind of exciting, isn’t it? It makes it so clear what you need to do to reach your goals. 

You will want to keep this math handy because you will refer to it a few times throughout this course. Your knocking math is vital to making effective plans. 

Remember that these basic math formulas are based on the math I’ve seen with agents starting out. After you have knocked for a while, you will want to update your numbers. When you learn how to track your knocking in Module 7 & 8, you’ll be able to make exact calculations in your personal game. Tracking your door knocking progress and conversions will ensure you figure out your personal numbers accurately.

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