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January 8, 2014

           Volume 16 - Number 1

      
Streamlining the Business of Commercial Real Estate
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No. 1 Selling Comp
Database Software
 
DataComp© is the No. 1 In-house Commercial Comparable Management Software on the market today made by and for commercial real estate appraisers.
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YouConnect© is a Web-based Appraisal and Vendor Management solution enabling financial institutions to automate and streamline their process, while satisfying federal and state examination and auditing requirements.
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New Edge 2011

 

EDGE© is a simple to use, but powerful report writing solution. A stand-alone application that integrates seamlessly with Word, Excel and DataComp©. 

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Manager© is our cloud-based commercial appraisal workflow application that can be accessed from any browser, Windows, Mac or cell phone. 

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For more information on RealWired! Products and Services, please:

 

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Check Out Our Sister Publication...
TOP OF THE WEEK TO YOU!
(by realwired! CEO, Brenda Dohring Hicks)

Brenda Dohring Hicks

 

Top of the Week to You! is designed to offer the inside scoop and latest of what's important in the world of technology as it relates to the commercial real estate industry.

Happy New Year!  Now Let's Get Going

If you haven't found time yet to assess where you want to go professionally this year let's get hopping. If you're someone who did this earlier in the year, let's say starting to plan somewhere the 3rd quarter, hooray for you! You are an over achiever and you can either stop reading now or read on and possibly make your plan even better.

First, some really good news. Other researchers, including myself, shows that it's not so much about "doing more" as it is about finding "what's in the way or slowing you down", so ultimately it's really all about prioritization. Prioritization without assessment and planning just isn't worthwhile. So here are some steps you'll want to follow to get the year off to the best start.

Step 1: Assess yourself and/or your business as a whole.  Look at your balance sheet and income or financial statement and get nervous. Don't ask yourself, your managers, your administrative, your support team  or your salespeople what they plan to do to sell more, produce more or be more efficient; instead ask questions that have the potential to create insight instead of demanding action. Just asking these two questions will start the right conversation. "What is it about our customers that we don't fully understand or appreciate yet?" and "How would you change our customer experience in a way they'd tell others about it?." You or your business will grow not by "getting it to grow", but by finding out "why it's not or why it's growing slower than you'd like."

Step 2: Prioritize and create a 'short list' of goals. Here's a program to help called the "Double-Half-Half." Ask yourself how you could double your gross income in the coming year, at half the cost and in half the cycle time to deliver. Give this some real thought. What would you have to do - what would have to change - in your business to reach this seemingly impossible set of goals in the next 12 months? Hopefully, you get frustrated trying to figure out how such a thing is possible because it will move you towards taking some action.

Only now are you ready to make a list of 8-10 objectives - no more, which would get you a big step closer to the overall goal.  Here's a couple to get you thinking. Notice they have the area of business that is responsible for implementing associated with them.

1. We need to find a way for new clients to get the information they need to make a buying decision in "x" number of phone calls, emails, or visits instead of "x" number. (Marketing)

2. We need to reduce our variable costs by reducing the amount of work we do through contractors and consultants by "x%." (Finance and Management)

The more you invest in these first two steps, the more creative solutions will emerge through the rest of the planning process. And no matter what your budget or other resource constraints are today, you'll be able to take a significant step towards reaching your goals in 2014.

We all know that improving oneself or building a great business doesn't happen overnight. It's a step-by-step process, and the first step is the most important and hopefully you'll revisit it often. It's about being real with yourself and your team with what really needs to change, before you go about changing it. The most real reason you or your business is stagnating (or not growing as fast as it could) is because you've let it. And it's going to be hard to change until you're ready to accept that real growth comes from a different place. An inquisitive place. A thoughtful place, not just a "push harder" place.

So here's the accountability part. Make a deal with yourself to set aside a few hours to work on these 2 Steps. I'll commit to you to do it too. Then over the next couple of weeks I'll give you two more steps - Sequencing and Empowerment. We can share our findings and be off to a great start!  Here's to a really prosperous 2014!! 

Come join our discussion on our blog, or I welcome your feedback through email.
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