Episode 132 - Tips to Prepare for the Slowdown

The slowdown has started. Some of you may have been through this before, but most have not. Are you prepared? You business relies on several pieces that many owners do not take into account. This episode talks about a few items that get missed when you are busy such as budgets, saving, and marketing. There is never a bad time to start any of these. Let’s get on them!

SHOW NOTES

• 00:50 – Is Brian in the Wizard of Oz?
• 02:15 – Economic cycles happen, and we can get through it.
• 03:50 – What have you done to prepare for the slowdown?
• 04:40 – Are you running your business like a business?
• 06:25 – Race to the bottom mentality. Don’t drop your rates at the beginning. Look at other avenues first.
• 08:20 – Weathering the storms requires budgeting, saving, and marketing.
• 10:00 – Need to have at least 6 months of business expenses and 6 months of personal expenses saved.
• 12:00 – Always be marketing to new clients. Don’t only market when are slow. Always be selling.
• 17:50 – Look for the opportunities as the market shifts.
• 19:20 – What are other appraisers and agents not doing?
• 20:35 – Join peer groups and hire a coach.
• 21:30 – Many agents and appraisers will drop out during the slowdown. Stick with it will benefit from a payoff.

SHOW LINKS

• Chris with CMP Appraisals - https://www.vabeachappraisals.com/

BETWEEN THE LINES LINKS

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