Just a Minute!
Tips for Management Company Executives
by Jim Manning, President
Walters Consulting Group
June 2008 Topic: All Real Estate is in Turmoil! This Might Be a Great Opportunity To Make Critical Changes!
Put aside old thinking and take a look at some critical facts about our business. There's more work than the industry can handle, recruiting serious newcomers is like searching for the preverbal needle, and other sources of income that are truly marketable to the client base. Let's look at some better ways to build value.
- You're Not Alone - "This is a time for those of us who want to expand to look at alternatives from the way we have been working in the past." -- California CEO at a recent industry conference.
It doesn't take me to remind you that our theme for the first part of this year, (See heading above) is right on target. But as I like to say, our business is like a midnight freight train. Moving fast and always moving. Try to paint this train while it's rolling and you'll never get it done.
Recently, Brian Tracy, a friend to builders of small business (www.briantracy.com), reminds us that all successful people do four things. They are:
1. Set clear goals
2. Take risks beyond their comfort zone
3. Accept feedback
4. Self-correct.
In our last message, we suggested looking at your portfolio clients. Are all the clients paying their fair share of your company time? If you did that and made the adjustments, then things should be smoother in the office.
Have you taken operational inventory? We mentioned this in a past message. Did you see where the many little drips were creating a continuous deluge? Profits truly down the drain. You've made these corrections, right? So the cash flow should have improved.
These were easy to do. They were "inside the train," so to speak.
Now, back to the coffee house, early in the morning, with the pad and pencil. It's time to paint the train.
Are you ready to set clean and achievable goals? They don't have to be off the chart. They need to be workable within your business culture.
So, clear goals - lifestyle and business. Write them down.
Jim Manning - President - Walters Consulting Group
and can be reached at
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