It's indefinite that we will constantly have marketing calling us several times a day to try to sell us something. From monthly leads, or IDX solutions to CRM models and on and on.

Here's what I learned over the years - I always ask for a discount and in return, I pay for annual payments, instead of monthly.

Well, it works in your personal life too: almost any service like pest control, weed control, lawn mowing, etc., it can apply in your business life too. It costs alot less, some offering 1 - 2 month's free. They can get pretty significant when you add every service you purchase.

The key is to run your business as close to as debt-free as possible. During your most difficult period (1 year), you may need to continue to pay for the monthly payment subscriptions and at the same time, save another month's in the bank so that when 12 months is around, you'll have the ability to ask for a discount.

Try to space them out so not ALL your subscriptions are due during the first 2 months of the year. While it's money you already saved for, your P&L in that quarter will look really horrible.

If you have the funds NOW, call up monthly subscriptions and see if you can turn them into annual subscriptions by saving some money. A couple of months here and there can add up to significant savings!!! The savings you receive might help you get some small annual subscriptions for FREE.

Think about it. The Power of CASH in your real estate business can go a long way!!! It might even keep you in business longer.

 
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16 Comments on Use the Power of Cash in your Real Estate Business

NOV
11
2011
194,347 Points 8 Featured Posts Attended Rain Camp
What a very good suggestion to space out the subscrirptioms. I think it is also important to look over your expenses every few months and review their value.
7:53am • #1
1,067,654 Points 68 Featured Posts Outside Blog Called Shot Master

  We too apply our negotiating skills to other aspects of life....just did it last night on cell phones..poor $40 a month disappeared !
7:54am • #2
1,023,099 Points 66 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

I am fortunate that 12+ years after starting my second property management firm, I have cash flow and have the goal of INCREASING my income 10% next year and DECREASING my expenses by 10%.

NOT buying paper and staying in the cloud; driving SMARTER and REdefining my service area will get me there in 2012

 
7:54am • #3
1,224,582 Points 79 Featured Posts Localism Sponsor Attended Rain Camp Called Shot Master

Good morning Loreena,

It is important to use our negotiating skills in all facets of our lives and you have offered up some great tips! Thanks for sharing.
8:02am • #4
1,420,916 Points 41 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

With caution. . there are a lot of services that may push in longer term commitments . . to find out later  that the value is not there. 
8:03am • #5
620,125 Points 8 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Great points Loreena, I think culturally, we tend to run everything on the debt-free concept. It is no different for business.
8:04am • #6
1,207,914 Points 193 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

@Fenando - I thought about it when I wrote this post. There's always a possibility to ask if there is a cancellation and a refund policy if the service is not satisfactory.

@Eileen - Exactly...
8:09am • #7
227,197 Points 8 Featured Posts Outside Blog

Great idea as long as the company/service is reputable and financially stable...if they aren't around after 8 months, or simply don't deliver consistently then you've paid for nothing. But if you do your homework and believe in the product/service than this is a great approach to take.
8:30am • #8
103,000 Points 2 Featured Posts Outside Blog

I agree.  The person with the cash is King - always!
8:35am • #9
424,967 Points 39 Featured Posts Hit Router Called Shot Master

Loreena - That is a smart way to operate.  I do the same. If you don't see the deal advertised - ask.
8:41am • #10
877,326 Points 48 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Living as debt free as possible is EXCELLENT advice. I read about that in my Life Instruction Manuel! ;)
9:44am • #11
1,207,914 Points 193 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

@Charlie - Good advice. I hope that is somthing that everyone should understand. We make deals with reputable companies. Not those who just started 2 months ago.
9:48am • #12
395,404 Points 1 Featured Post Called Shot Master

All expenses are already broken down monthly.  What an ingenious way to cut a few more corners Loreena.  Putting the pay table into an off cycle is a much more efficient use of time too.  It's a great concept.
11:07am • #13
537,336 Points 5 Featured Posts Outside Blog Attended Rain Camp

Loreena,

Besides the economic sense, paying off your bills frees you to expand more on your vision.... g
12:01pm • #14
231,778 Points 8 Featured Posts Attended Rain Camp Called Shot Master

Pay off your bills means many more less headache to remember so you don't get charge late fee or your services get cuts off. :) 
4:09pm • #15
215,099 Points 2 Featured Posts Hit Router Called Shot Master

I love the idea of Debt FREE... My thoughts are to work and pay for CASH whenever it's possible. Thanks for the thought...
6:42pm • #16


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