Tom Zeeb Recently had the following information about how to run your business like a business in his daily newsletter. It outlines some key things we all need to keep in mind so we wanted to share it with you:
Tom, I’ve seen you use the phrase “running your business
like a business” in several different emails. What do you
mean by that? And thanks for not sugar coating any of
Sugar just ain’t very good for you.
It rots things away.
So no need to coat my messages in it.
I think people need to hear it like it is, so I actually tell it like it is.
Even if it’s uncomfortable sometimes.
But I digress…
When I say “running your business like a business” I mean
that a business should be treated seriously, not as a mere
hobby or just a passing fancy.
If you want to succeed, and if you want to build something
that will consistently produce healthy profits for you, then
you need to do it right.
How can you do it right?
Here’s a quick list to test yourself and your business against:
1. You focus exclusively on your business at least once a day.
2. You incorporate your business to give it a life of its own.
3. You keep a separate bank account for your business.
4. You NEVER co-mingle your personal funds by spending
business money on personal things. (The IRS requires this
as well. And doing so could pierce your corporate veil
5. You get advice from experts in the field, not random
people who have never done what you are trying to do.
6. You consistently focus on marketing your business to
get customers and clients. (If you don’t market you’ll never
get off the ground.)
7. You follow an ethical code and don’t hurt anyone as you grow.
8. Conduct business in a businesslike manner. You don’t
run a circus. When people interact with you and your
business they should have confidence and trust in you.
If your outward appearance is sloppy, why would you
expect anyone to believe that your whole operation isn’t
sloppy? How much do you trust a poorly run business to
do what they say they can do?
9. You back-up your computer and data to prevent loss.
10. You seek out and invest in the advice of a mentor to
help you focus, build and grow.
11. You conduct business in writing. Therefore there is no
“he said, she said”. It’s all written down in plain English.
And the list goes on…
Conducting your business in a businesslike manner will
help your clients (sellers, buyers, etc.) to trust you and
want to do business with you.
And it will help you to grow and expand.
It’s the key component so many people miss these days.
If you’re interested in learning how to do it all correctly…
And you’re in it for the long-term…
Join me at the MAREI meeting on February 14th and come back for my full day workshop on the 18th.
Traction Real Estate Mentors