David Pittiglio runs Streamlined Business Solutions - I’ve used these guys for years and years. Many of our members use his services as well - and he’s as much of a “numbers coach” as he is a bookkeeper for his clients. 

One of the first aspects of getting through a potential downturn like we might see is understanding where we’re at currently with our finances. How would you get to the next level financially if you didn’t know where you are at now? Understand what you are doing in the business - in terms of where you are spending money. Where are you burning money in the business? 

How we earn a living and increase our net worth is through our businesses. As with our business, we also have to consider your personal expenses. Between your household and your business, you must have a handle on the expenses you have going out the door. Then, looking at it as a whole, you must look at what is essential and what can be eliminated.

We knew that a shift was coming. It is part of being a business owner … that is, navigating the ups and downs of a cyclical economy. We didn’t know it would be through a global pandemic, but we’ve been preparing for this for a long time. For some real estate agents and team leaders, this is a wake-up call. If you don’t have enough cash reserves to pay for a few months of living expenses, what have you been doing for the last 5 years while the market has been doing great? I hate to sound that harsh but it’s the sad truth that most agents and team leaders did not prepare properly for a market shift. 

The coaching is the same, through hard times and easy. It begins with being a good steward of our money and our finances. In my businesses, we’re constantly looking for ways to cut operating expenses that aren’t a high rate of return. There’s even a short pick-list of things that I know can go if they need to. 

This isn’t meant to bring shame to anyone who doesn’t have their finances in order. For those of you who could use some help, this is a huge opportunity - and this is also why coaching is so important. High-ROI investments like a coach can shape the course of your business going forward. 

Now is the time to ask questions if you are struggling. This is the time to get a handle of your numbers if you haven’t already! If you need help, we are here for you.