In this fast-paced generation, multitasking has been a normal part of life rather than an exception. Today, the most effective people are those who are able to handle multiple tasks at the same time. In as much as multitasking has been part of life in the last few decades, not everyone is good at handling many tasks at the same time. To successfully multitask, you should be really good at what you are doing or else many things might easily slip through the gaps. A small oversight with the contacts, numbers or expenses can set you on a path that is hard to recover. You also need to understand that being organized is an important part of any business management because it allows you to use your time effectively.
You do not have to be a seasoned investor to be very organized. Some of the tips that can help you be organized in your business include:
• Having a daily task list
Every day you have at least eight office hours to do your tasks. Instead of concentrating much on the available time, you should focus on accomplishing tasks. Before retiring to bed, you should devote some few minutes planning how you will spend the next day. Write a priority list that outlines the tasks you want to accomplish the next day. You can allocate the early hours of the morning when you are still fresh to harder tasks and the easier tasks for the late evening when you are drained. If you do not plan well, it is likely that you will postpone hard tasks only to do them in a rush when you do not have time and you have to meet a deadline. When running a real estate business, there is no perfect time to do a specific task, you should ensure you do tasks because they have to be done. So that you do not push important tasks to afternoons then eventually to the next day. Creating a daily task list helps you to work harder on the tough tasks when you are fresh and prepared to work.
• Keeping a notebook in the car
The days when people would sit in the office for ten hours in front of their computers are long gone. Today, businesses are more mobile such that you can do your business from anywhere including inside your car. It is likely that you will be spending much of the business time driving from one point to another looking for deals, for this reason, you should learn to have a notebook anywhere you are including on the front seat of your car. Learn to take notes after every conversation. It does not portray you in good light forgetting things you have discussed with your clients the next time you catch up. The more you can write on a paper, the more likely you will remember the conversation and the better your response when you next meet. You can have about two to three different discussions for a fifteen-minute drive around town and more often than not, you are not always focused on these conversations. If you are to ask for an explanation for every conversation you had, your reputation is likely to take a hit. Having a notebook in the car will always help you to capture critical information before you lose focus to other things.
• Learn to track your expenses
When handling big amounts of money, it is common not to track the few dollar expenses in the business. Investors should make it a habit to know where each dollar goes. If you want to control your expenditure, account for your money. Many investors have a rough idea of the things they spend their money on, but they do not strictly follow through. If you want to get the best out of your company, you should learn to track all the expenses. Today, tracking expenditures have been made easier by the availability of inexpensive methods of accounting methods such as programs, spreadsheets, and apps. For this reason, you should not waste your precious time on outdated accounting methods that are frustrating and time-consuming. Any business person who does not know where the company’s money is going will find it difficult to run their businesses successfully. Without monitoring your expenses, you will be constantly forced to pay for unexpected expenses or even be paying more for certain costs unknowingly. Anytime you pay your lawyer, contractor, Lawn Care Company or handyman ensure you note down the payment. Take some time monthly and review your expenses to check if it justifies the value or even if there are alternative cost-effective methods. This way you will know where to make cuts on the expenses, which can greatly impact your bottom line in the long run.
• Update the contacts
Just as it is easier to track your expenses, you can also easily update the contacts. Some years back, desktop Rolodex was one of the few methods of retaining numbers and names. If you were out of the office, you had to call the office assistant during working hours if you wanted an important contact. Today, times and technology have changed such that you can easily retrieve and update any contact you want from anywhere, at any time. You should ensure you save your contacts on the phone or backup laptop such that you can easily retrieve them based on the names and titles that are easily recognizable. If you do not store the contact in a way that you can easily get it when you need it, then it is of no good storing them.
• Weekly review
You should make it a habit of reviewing your business weekly. If you do not do reviews periodically, it is easy to be swallowed in the ever continuing real estate industry. Look for one hour when you can evaluate what has been done, and look for ways to improve things for the better. While some might view such an exercise as a waste of time, it can be the most important time your business has every week. Remember, without a clear direction and strategy a business cannot accomplish much.
In conclusion, being organized in an important aspect in the success of any business. When you know what is happening in your business, it is easy to manage it. Anytime you are on top of things that is when you can improve your bottom line.