Peter Pays Paul

What can you do in 2009 to make the best of a bad situation?

By most accounts 2009 is going to be an interesting year for commercial real estate. Only time will tell what actually happens. The economic factors that affect commercial real estate do not bode well.

Three Points of Focus

There are three things that I am going to focus on in 2009: 1) Working Harder and Smarter, 2) Getting an Education, and 3) Focusing on Opportunities.

Working Harder and Smarter

An individual has no ability to control the macroeconomic factors that affect the commercial real estate industry. We cannot single-handedly buy enough stuff to pull the economy out of the funk it is in. (Nor can the U.S. government.)

Working Harder

An individual can focus on their own output. I can determine to spend more time doing activities in my business that generate revenue. Even “hard” tasks like cold-calling or writing for a blog.

Working Smarter

The internet and technology provide a wonderful way to leverage resources. It costs little more than time to maintain this blog. However, I am constantly getting traffic and being exposed to potential clients. Facebook, LinkedIn, Twitter, and other web tools allow professionals to expose their writings to a number of different people from one platform.

Getting an Education

I’m not talking about going back to university. I am talking about taking classes or courses that will increase your knowledge of the industry.

Take a course on marketing, negotiations, or salesmanship. Take a course on finance, investment analysis, or site selection.

Courses that enhance the value you add to your clients will help you generate more income in the long run.

Books

Books are incredibly valuable resources and sources of information. Through a book we can gain the life experience and wisdom of another person’s life.

I have a goal to read 52 books this year. President George W. Bush read 186 books in 3 years while running the United States.

If you project lower income for 2009 and don’t want to spend money on books, invest 15 minutes to join the public library. Many of the best books on economics, sales, business practices, marketing, and finance can be found at your public library for free!

Focus on Opportunities

There is an Allstate Insurance commercial I saw a couple of times during the Rose Bowl, advertising that they started in 1931. This was in the midst of the Great Depression. In 2009, 78 years later the company still exists.

Even in the worst of times there are opportunities to make money. Life goes on. The next generation of property barons will rise up and will need professionals to help them in their quest.

Look for the opportunities and not the obstacles. See the potential instead of the problems.

Thriving in 2009

In many ways the year 2009 will be what we make of it. What will it hold for you? What are you going to do to thrive in 2009?

Photo credit: AustinEvan

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