What's in your business "loft"?
Copyright Henry James. All rights reserved. 2022-2023.
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What's in your business "loft"?
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Not long ago I moved home.
As you know, when you move home there are quite a few things you need to do:
- What can we afford?
- What jobs need to be done prior to having the house valued and marketed?
- What do we have in the loft that we need to get rid of - in my case 7 years of accumulated stuff
- Who will we have to value the house
- Who will sell the house and what criterion will I use to choose [more on that in a future blog]
- Who will be my solicitor
- What are we moving too and where?
- Time frames, and much more etc.
Let's just look at one aspect - the dreaded loft.
Well, we spent the odd hour here and there clearing the loft 6 months prior to the actual move.
But going through the loft, for me, was a bit like helping clients find forgotten or unrecognised assets in their business.
We "found" enough stuff languishing in the loft for two car boot sales and too many tip runs to mention.
What stuff could you find in your business loft? How many extra assets?:
- Old clients that need reactivating
- Viewers with houses to sell that have never come to market and who may still be thinking of moving in the next 12 months
- Valuations attended that never came to market, or were signed up but changed their minds, or were not followed up enough
- Unused capacity, resources, services you could sell, barter, or rent/share with others
- Buyers with re-mortgage dates coming up for some FS introductions
- Birthday lists [you have their dates from your AML IDs]
- Move anniversary lists [you know when they moved]
- Mailing lists you can "co-opt" with a similar but none compete for business and vice versa
- Information/process/procedures you could franchise/license/sell to others
- Every detail of every client to get those referrals or set up a proper referal programme
- Review your FROG list of people you have not reached out to for a while [Friends, Relatives, Organisations, Groups]
- In fact, there are 10's, no 100's of assets you may have that you may not be using...and the list can go on for many businesses, not just you as an Estate Agent or Home Services provider.
And, if you are thinking of selling your business, 2-7 years from now, NOW is the time to leverage all those hidden assets for maximum return in times to come, and to help you right now with the challenges for next Spring. And systemise as many of them as you can too. They help build your exit value.
Our little trip to the car boot sales realised @ 18x ROI.
What can a "loft" inspection of your business generate in ROI terms for you. Quite a lot I suspect.
If you need help with your business's loft clearance just give me a call.
I guarantee we will find some hidden marketing assets you have overlooked, or, perhaps had never considered as "assets" that can make you more money.
'Til next time...
Henry.
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Henry James is a marketer with a passion for estate agencies and the property sector and specialises in marketing systems for estate agents and those in the property sector.
He helps you attract, convert and retain business to help businesses like yours make more money!
