ARE YOU KEEPING UP WITH CHANGES OR CREATING THE CHANGE

By
Education & Training with Performance Development Strategies

Change!  Why is it so darn hard?  I think it is because we are creatures of habit and habits can be changed but it takes effort.  There have certainly been changes in real estate and some have resisted while others have seen the opportunity.

A Westchester County Business  has relayed to me that it has had years of successful sales and profits.  However, lately there has been a small decline in sales and profits.  But the business is still making money so the reasoning was let’s just see what happens. If it’s not broke don’t fix it.

Unfortunately, with this business and others there are constant changes in the economy and market. You can wait for change to force you to do something and then react. But that is not the best option. The best option is to predict and get in front of change. These are some of the things you should you should be doing proactively:

1.        Make sure you know what business you are in. Whether you are in real estate, construction and contracting, graphic design, or consulting you must define what you provide to the customer. For example, Kodak should have realized that it was not in the film business but in the image and impression sharing business. In real estate are you selling houses or assisting buyers in improving their lives?

2.        Get in front of change.  The best way to this it to look into the future, understand the trends and how they affect your business and move yourself into them. One example may be the use of webinars vs. in person meetings. While arguments can be made about current quality of delivery, getting your arms around it and having a strategy to shift will keep you leading. There was a time when a digital camera was not an alternative to high quality film but by not leading that new technology, Kodak failed.

3.        Assess your business. Take inventory of where you have strengths in the market as well as where you are weak and vulnerable. With that information look into the future to assess not just opportunities in your industry but also dangers and threats on the horizon. If you have done good business in an area where you know you are weak and you see new external threats on the horizon you may want to move away from that offering. On the other hand, look at new opportunities where you can exploit your strengths.

4.        How do you communicate and market. The method and costs of marketing and communication have already changed drastically. Today, who looks to find something in the Yellow Pages? You need to embrace the new media. However, I caution you to evaluate and create a strategy first. Don’t simply follow the latest shiny new media application.

5.        Understand generational differences. Different generations have different needs, communicate differently, and engage with your business differently. If you are doing well serving one generation, learn why. Are the things that engage that generation of no value to the next generation? Failure to understand that dynamic will result in increasingly lost revenue.

ResultsThese steps are great starting points. If you have not done a strategic plan or updated yours in the last 3 years you should get it done. Use this as a starting point to create disruption in your market and stay on the offense. For a similar blog on our web site read WORKING ON CONTINUED CHANGE IN YOUR BUSINESS.

Need help in creating or updating your strategic plan?

Contact Us for a Free Consultation

or call 914-953-4458.

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate Best Practices
Location:
New York Westchester County
Groups:
Coaching and Mentoring
Tags:
strategic business planning in armonk ny
taking your westchester ny business to the next level
disruptive change in westchester county ny
creating disruption in business

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
1,241,226
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good Morning Kathy Streib  - Thank you so much for putting me in your highlight for this week.

Jun 18, 2017 06:40 AM #21
Rainmaker
1,241,226
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Barbara - for sure and old habits being replaced by new ones takes effort.

Jun 18, 2017 06:40 AM #22
Rainmaker
2,532,675
Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

Good morning Grant. Being a change agent isn't always easy but is generally important. Nice post.

Jun 18, 2017 06:46 AM #23
Rainmaker
2,410,370
Kristin Johnston - REALTOR®
RE/MAX Realty Center - Waukesha, WI
Giving Back With Each Home Sold!

Great post!  I can see why Kathy chose to highlight it this week!

Jun 18, 2017 06:48 AM #24
Ambassador
1,987,242
Debe Maxwell, CRS
www.AtHomesCharlotte.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

I totally agree, Grant, we get into a routine and then change slaps us in the face! Something about the recession COMPLETELY changed my mindset - I've learned to welcome change and not resist it. When you surrender to change, you struggle far less with trying to manage said change AND your clientele.

For me, the challenge is your #4 - evaluating the variety of marketing methods to demonstrate the change.  I would prefer for a trusted source to do those evaluations for me and tell me which way to go!  LOL

Have a great Sunday, Grant!

Jun 18, 2017 07:44 AM #25
Ambassador
3,162,334
Jeff Dowler
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude - Carlsbad

Hi Grant

Thanks for the inspiration. I have to say there are times when I resist making changes, even small ones but at the same time I know I need to pay attention and do what's right. Work in progress.

Enjoy the rest of your weekend!

Jeff

Jun 18, 2017 08:46 AM #26
Ambassador
2,114,471
Robert Vegas Bob Swetz
Realty ONE Group - Las Vegas, NV
Las Vegas Henderson Homes for Sale

Hello Grant

Very well written post and have a great Father's Day

Jun 18, 2017 09:48 AM #27
Rainmaker
1,241,226
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Sheila - yes it is important since everything does change.

Kristin - thank you.  I appreciate that.

Debe - probably the smartest thing to do is have a trusted source evaluate marketing.

Jeff - absolutely, I am with you.  I have to remind myself to be flexible sometimes.

Thank you Vegas Bob - Happy Fathers's Day to you and all fathers.

 

Jun 18, 2017 10:55 AM #28
Ambassador
3,107,288
Debbie Reynolds
Berkshire Hathaway HomeServices PenFed Realty, Your Clarksville Real Estate Professional - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

Happy Fathers Day, Grant. Each one of us is running a business in some way or another. I look at what my husband and I have going and we are running several businesses and need to look at like you suggested.

Jun 18, 2017 11:26 AM #29
Rainmaker
1,241,226
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Debbie - I have some things that I am working on now where it is time to make a change.

Jun 18, 2017 11:34 AM #30
Ambassador
2,774,876
Chris Ann Cleland
Long and Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Northern VA

Change scares a lot of people, but if we know how to adapt to it, our businesses will benefit.

Jun 18, 2017 12:37 PM #31
Rainmaker
727,183
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

Technology will change our life. Texi drivers, truck drivers are the hook to see a decline.

Real estate will change more.  Buyer agent with the technology is often not needed. We see sellers often balk at paying a buyer agent a fee. You ask the buyers to pay you like many countries.  

Jun 18, 2017 05:55 PM #32
Rainmaker
963,223
Kat Palmiotti
Grand Lux Realty, 914-419-0270, kat@thehousekat.com - Monroe, NY
The House Kat

Yes, we need to keep on top of what's going on in the world so we can change our business model/strategies appropriately (or not as the case may be).

Jun 19, 2017 03:15 AM #33
Rainmaker
1,291,931
Lise Howe
Long and Foster - Washington, DC
Assoc. Broker and Attorney Licensed in DC, MD, VA,

It really is part of the difference between being entrepreneurial and purposeful. Either going along or knowing and deciding where you want to f

Jun 19, 2017 03:40 AM #34
Rainmaker
1,241,226
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Chris Ann - scary but everyone has to face it and make it work for them.

Sam - I am sure that those arrangement will look totally different in the future.

Kat - that is best to keep up so that we can change before it changes us.

Lise - that is right.  We have to decide and make the changes not wait for a company to do it.

Jun 19, 2017 04:07 AM #35
Rainmaker
1,802,611
Sharon Tara
Sharon Tara Transformations - Portsmouth, NH
New Hampshire Home Stager

You know considering my business IS creating change, you would think I would be better at this. So many areas where I'm lacking. Thanks for the push!

Jun 19, 2017 09:56 AM #36
Rainmaker
798,675
Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Interesting thoughts here. To me, you're asking us (if speaking to realtors) to think ON our business.  We don't always take the time to do that, so thank you for this post.  Makes me stop and think how I operate!

Jun 20, 2017 07:23 PM #37
Rainmaker
1,241,226
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Sharon - I hear you.  The same applies to me.

Jan - or as I often say work ON rather than IN.

Jun 21, 2017 11:24 AM #38
Rainmaker
1,175,619
Wayne and Jean Marie Zuhl
Hallmark Realtors - Clark, NJ
The Last Names You'll Ever Need in Real Estate

Good morning Grant - Love this post. You've got me thinking about the difference between selling homes and helping people. I need to make this paradigm shift. Thank you for sharing!

Jun 24, 2017 06:19 AM #39
Rainmaker
1,241,226
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Wayne and Jean - helping people, yes.  As Zig Ziglar say, You will get everything you want if you help other people get what they want.

Jun 24, 2017 07:12 AM #40
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
1,241,226

Grant Schneider

Your Coach Helping You Create Successful Outcomes
What is success to you?
*
*
*
*
Spam prevention

Additional Information