‘Stop fighting life.’ – George Ross
Coronavirus has changed the world as we know it. And we are likely not going back to what it was. In fact, no one knows what the new ‘normal’ will look like but there will be done. How you adapt is everything.
The same is true in business. Coronavirus has turned the business world upside down in many industries such as travel, airlines, dining, sports and entertainment. Real Estate is deemed essential in many but not all places. But even if it is, adjustments are required. What do you do?
And that’s the key. The answer to ‘what do you do now?’ depends on what you do and what your goals are. Like contractors, line up 10 and you’ll probably get 10 different answers. The first key is to first be adaptable and then look to the future to see what is coming. And go there now. As the Wayne Gretsky said ‘I skate to where the puck is going to be’. In business, you do the same.
Depending on your market, maybe construction won’t be so popular. Maybe rentals take off. Maybe short term rentals doesn’t look too swift anymore. Maybe wholesaling becomes a challenge. I don’t know what market you are in and what is needed but I do know you better know your market. And then take massive action now to pivot to what is coming.
Now is also a good time to reevaluate staff. Do you need everyone? Can you do everything needed with less? Streamlining is very much in style right now to make your processes as efficient as possible. There is more people out there looking for work so may be time for an upgrade. It doesn’t sound beautiful, true but you need to give you business every chance to get through the current crisis as best you can. Many companies are learning this right now. Efficiency will be the new king. Workers will have to work harder to provide value.
Now is not the time for denial. Be real with yourself, make the changes and adapt. If you work with partners, have the conversations with them. Whatever the case may be, pivot and adapt in your business now.
Lastly, don’t try to adapt to everything alone. A mentor of mine said ‘It takes a village.’ Real Estate is a team sport. Stick with your team, upgrade if necessary and keep it moving. Good days will return. Good days are still here now as well. They just look different.
Keep it moving!