Ways to work on your new business from home – Part 3
No matter what market you’re in right now one thing holds true. We are gaining data daily that is changing our market. How to strategize in it and how we choose to adapt to these changes is what will set us apart from the pack. If you think about it, as of today, you have more leverage than any digital threat that is out there right now. Why? Because we know and can see our clients are craving human connection.
If you have taken the mission to heart to contact your sphere and check in, you would have noticed that there is a lot of fear of the unknown in the market right now. Both buyers and sellers are standing on turbulent shifting ground and they are looking everywhere and anywhere for ways to soothe the insecurities they are feeling.
Let’s look at what the market could do and get prepped for the next 90 days. No one has a crystal ball as to what will happen in any given market. So, let’s spitball a few options.
Exercise:
Take a sheet of paper and write down the following:
What happens if:
Interest rates go up?
Interest rates go down?
We have a fall seller’s market?
We have a fall flash buyer’s market because there is a flood of listings?
What happens with your buyers that are waiting?
What happens with your sellers waiting to list?
What if there is a huge boom in consumer confidence and the stock market goes up?
What if we have a long recession?
What if we have a short recession?
How can the election positively influence the market?
How can the election negatively influence the market?
What if the Stay In Place order has longevity?
What current activities should be explored or abandoned?
What if we find out what really happened to Jimmy Hoffa? (just kidding)
You see where I’m headed with this. Success is in preparation. Think specifically about your market. What market shifts and triggers are commonplace that aren’t listed above? What would be your angle of opportunity in each of these scenarios?
A lot of people trumpet business planning, and I am one of them. Part of business planning is getting ready for risks, threats and weakness as well as opportunities. If we go to a buyer’s market, are you calling your investors? Do you have a list of them ready to go? If we end up with higher interest rates and you have a listing on, what are you telling your sellers who might end up being trapped on the market? If we have a boost in confidence, what strategies do you have ready to prepare for an aggressive selling market? How will you prep your buyers?
Some major digital selling companies have experienced large layoffs of staff that used to be your competition. What’s your angle?
One more thing holds true. This circumstance is not going to last. Let’s not be short sighted and waste precious time sewing beads onto your morning pajamas or re-watching Schitt's Creek for the fourth time, however funny that series is.
Wake up and work your ideas, Friends. Find the holes and drive your flag right into it. As I’ve said, “the disciplined will have their day.” Questions? Leave a comment below.
Until then, chin up, keep your feet moving … and burn the white flag.
sz
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