Ok, second tactic in Gary Keller's new book SHIFT, is Re-Margin Your Business - Expense Management.  I'm not going to lie...I struggle with this! 

At Keller Williams Capital Partners realty in Worthington, Ohio we hold our SHIFT "book club" once a week and really dissect these tactics and talk about how to integrate them in our business.  I didn't teach this real estate class, but maybe I should have taken it!

As far as business goes, the short and tall of this chapter is about looking at your expenses and finding out where you're wasting money and where you can cut costs without lowering your customer service for home buyers and sellers.

A couple of the key points that stood out to me were,

•·         When you spend a dollar, it's an investment....EXPECT a return

•·         In a shifting market you drop your expenses until your inflow once again exceeds your outflow at an acceptable level and then you play red light, green light with your money.

•·         When the market shifts your money instantly becomes dumb.

What?!?!?  Let's focus on that one.  Your money becomes dumb?...basically that means that what worked for you before in your business isn't working at all anymore or at least not the same...so what is spent on it doesn't yield the same results...It's dumb money.  That has caught my attention in more ways than one.  In my position of Team Leader, at Keller Williams Capital Partners, I am charged with looking at our companies expenses...I've been looking at it from dumbness....is that even a word?  Well I'm practicing what I'm preaching and cutting expenses...it isn't easy, it isn't fun, but it must be done.  The after effect of it has been pretty good though; I actually feel more knowledgeable about our expenses and feel more in control of our bottom line.  I took the time to figure out that If you don't control the money it will control you...it becomes a burden and stressful. 

Well tomorrow is family finance day, and once again I‘ll be cutting the budget.  This one stings a little more.  It's close to the holidays, I have two small children, and of course...I really need (WANT) a new pair of shoes!  But it must be done and my husband and I are on the same page, so I'll stop letting my money be dumb at home too and I'll let you know how it goes.  We are using the Dave Ramsey, Total Money Makeover plan and I feel hopeful.  You can click on his name to follow the link and check into it if you want some ideas about your family budget as well.  I'm not saying it's for everyone...it just looks like it will work for our family and thought I would share.

How are you re-margining your business...your family budget?  Let's share and give others ideas that may help them through not only this real estate market, but the economic times that affect our families as well.