Work smarter, not harder!
This is a great mantra to follow especially in the real estate industry.
Let’s face it, work and business can be overwhelming to those who want to succeed or make it big in the industry.
Other than your responsibilities as a real estate agent, looking out for your financial health is also another concern that needs your undivided attention because no matter how hard you work but are unable to generate positive financial outcomes your efforts become unproductive.
With the current market competition, it becomes more critical to reassess your plans and strategies to make your efforts bear fruit and achieve your financial outcomes.
Time is gold
One thing that you should avoid is wasting precious time. It is a valuable resource that can never be reclaimed once it is lost, so make sure to use your time wisely.
What’s realistic and achievable, though, is to use it wisely and conserve it for future endeavours be it for business or leisure.
Here are several effective and practical time-saving hacks that you can apply to make you more productive and be financially healthy.
Always schedule appointments
Make it a point to always calendar or schedule business meetings or appointments, no matter how minor it is.
Any event or activity with time allocated for it is more likely to be accomplished, so always strictly honour anything that is scheduled in your calendar.
This will greatly help you see the time allotted or spent on any activity, as well as provide you with a picture of how much time spare time you have or how loaded your day can be.
It will also help you limit how much time you can spend for any meeting or activity and how you can set boundaries such as time to rest and relax from a hectic day of productive work.
Set aside time to review your finances such as invoicing, credit card statements, overhead costs related to your business, cash flow, etc.
This will also help you break down tasks and give you a picture of how you equate time spent over the value of income generated so you can focus on which actions you need to focus on and what to re-evaluate.
Feed your knowledge and expertise
It can be listening to music, a podcast, or an online learning session. Nothing is constant, even in the real estate market. There will always be new things to learn and explore, so it is always best to stay updated.
It can also serve to inspire and motivate you to do better for your real estate business.
Take advantage of effective management practices
One of the most popular and effective management tools is the Pomodoro Technique. Developed by Francesco Cirillo in the late 1980s, the Pomodoro Technique involves using a timer to break down tasks into 15, 20, or 30-minute intervals and separated by quick breaks.
Studies have shown that more than two million people worldwide have used this technique and found it very effective in getting things done over a brief period and without wasting too much time on a single task.
The key to this hack is diligence and commitment to get things done and getting the results you need.
You can always ask for help if needed
If you need someone‘s help or expertise to get a job done, then go ahead and ask for it. Professional networks are vital in the real estate industry because there is always the tendency for cooperation and mutual business relations to achieve the best outcomes.
Do what you can and when the situation calls for it, reach out to those who can help out. It does not make you less of an agent because you were not able to do it all by yourself, but when you are bound by your limitations, it is always best to get it done right and at the soonest time possible.
The same thing applies when you are going through your financials. You cannot be expected to master everything about accounting, bookkeeping, and tax calculations. You don’t have to force yourself into knowing this and spend precious time mulling over it. Instead, find help from someone you know who is capable of doing it for you.
By doing so, you take that burden off your shoulders so you can focus your time and efforts on what you do best.
Find ways to motivate you
Similar to goal-setting, finding an intention to help you stay on track with your real estate business financials is crucial to helping you stay on track.
Whether you like it or not, reviewing and analysing your financials is critical if you want to see how you are performing such as your income, spending, cash flow, etc.
For instance, circumstances can be opportunities to help you find motivation in finding ways to minimise spending, such as switching your phone service provider in favour of one that provides lower subscription rates, reducing your electricity bills by exploring renewable sources, etc.
To reduce your spending, you calculate the potential savings and be surprised to see that you can cut down costs by hundreds of dollars each month can be enough motivation to get you going and focus on it.
Indeed, there are several and even creative ways to help you organize and manage your finances. All you need is to plan, strategise and commit to doing it. Soon enough, you will be able to see the fruits of your work.