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Archive for the ‘Women's Council of Realtors’ Category

“The future belongs to the common man with uncommon determination.”

Baba Amte

When I was in junior high school, I joined the local Junior Achievement chapter. My “company” made Christmas tree skirts which we later sold to our parents.

The lesson I learned from this:

cheap material + even cheaper labor + parental connections = profit

Find your unique gift; create a product or service that fills a need, than sell it to your network. How did I get that from felt skirts? Our product weren’t poorly constructed Christmas accessory; they were handcrafted symbols of ourselves that our target audience would pay a premium for.

What is your product?

What makes it (or you) unique?

Who is your audience?

Why do they want your product?

Who is your competitor?

What are they doing better (or worse) than you?

What is your cost of sale? In other words, what does each sale (income) cost you to produce (expense)

How will you market your product to your audience?

What will that cost?

Where do you want to be, in terms of production, in 1 year-2 years-5 years?

What will it take to accomplish this?

Your business plan should answer all of these questions, and more. Some people (e.g. me) prefer a deep strategic plan over a conventional business plan. In a strategic plan, you create your company culture as you create your plan for success.

A strategic plan typically includes a company’s mission, vision and value statements, and an expectation about how you’ll conduct business. If you plan to have partners, this step is vital

Successful people:

are passionate.

Your passion is the reason you get up in the morning, work late at night or borrow money from your family to finance start-up costs.  Without passion, you’ll quit at the first sign of trouble or when a better offer comes along. Are you following your passion?

solve problems.

If you can solve other people’s problems, they’ll throw money at you. Easy, right?

Find a job no one else wants and do it. Find the knowledge few know and learn it.

To sell yourself and your product or service, define what value you bring to the table.

Are you faster?

Cheaper?

Better?

Any 2 of the 3 will do.  If you’re faster than your competition, you don’t have to be cheaper, but your quality has to be at least as good as theirs.  Your customer will pay a premium for speed, but won’t accept inferiority at any price.

produce.

Do you have a business plan (see above)? Are you working it every day?  Do you account for your results?

Does your plan focus on the problem you’re solving for the customer and/or the unique value that you’re adding to the transaction?

Who are your customers? How do they find you?

Every sale results from you talking to your customers or would-be customers.  Talk to them everyday.

Don’t waste time with mediocre people, thoughts or actions. Just take daily steps toward your goal

By the way, I still have the Christmas tree skirt. Now an antique family heirloom, it’s value has no doubt increased accordingly.

If you’re ready to stop treating yourself like an employee, and instead develop the skills and leadership of a CEO, signup for the online version of The Business of your Business: Formula, Financials, Function and Freedom.

This article originally ran in the Las Chapter of the Women’s Council of REALTORS newsletter.

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Reduce taxes, Incorporate, Women's Council of Realtors

 

“This is too difficult for a mathematician. It takes a philosopher.”

That’s Albert Einstein talking about out tax code.

Formally, federal tax law is a particular chapter (Title 26) of the United States Code. The federal tax law contains 11 subtitles, which among them comprise 9,833 sections.


The number of words in the tax code? No one knows. Seriously, no one knows. The lower bound seems to be 16,000 pages, and even that’s not definite. A conservative 250 words per page, and that’s 4 million words. Even counting the number of sections is exhausting. They go from 1 to 9873, and counting, but plenty of numbers are missing.


Politicians may tout the virtues of our “progressive” tax system, but it doesn’t really favor the poor over the rich.
Nor does it favor the rich over the poor, not when 40% of federal tax receipts come from 1% of the population. Fairly or otherwise, the tax system favors the diligent over the unprepared. (As most things in life, so maybe the system is fair.)

Specifically, the system favors independent businesspeople over salaried workers.

You can do what almost everyone can but few bother to: play the IRS’ game. Only make sure you’re on the winning team.  Read my recent article in the Women’s Council of REALTORS e-newsletter.

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What are the questions that keep you awake in the middle of the night?

How will I pay my bills?

Why can’t I get my deals to close?

How do I sell houses to buyers who are afraid of losing their jobs?

Listen to the call

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“When it comes to the future, there are three kinds of people: those who let it happen, those who make it happen, and those who wonder what happened.”

John M. Richardson, Jr.

Don’t miss this opportunity to find out what the largest real estate companies know about the future of real estate and learn what you need to compete and thrive in 2010.

The New Face of Real Estate: Today and Beyond

Panelists:

Sherry Chris
President & CEO
Better Homes & Gardens

Bryon Ellington
Chief Products Officer
Keller Williams Realty

Margaret Kelly
CEO
RE/MAX International

Watch the video

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I am in beautiful Scottsdale, Arizona to install the 2005 Arizona state officers and attend their orientation event. It’s a little cold here (for Scottsdale *lol*) but the sun is shining.

Last night I installed Bob Nachman and his 2005 leadership team at a wonderful dinner event.

2004 President Sally Bonkowske was also acknowledged for her contribution to the success of the chapter. Sally will be moving into the Governor position for 2005 along with existing Governor Nancy Vitkovich.

Today I attended the orientation training for the incoming officers which included a fabulous presentation on the importance of the Chapter Excellence Awards/Business Plan by the Governors. After the presentation, everyone present agreed that they were going to “go for the gold” in 2005.

Thank you to Bob, Sally, and all the members of the Arizona chapter for your warm hospitality. I had a great time and look forward to visiting you again.

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