Can your business still operate?

If not, it probably means that you do not have a Business Continuity Plan. This is an essential tool for your business as it is the procedure that you will use in time of a crisis, that includes information intended to ensure the ability of the services provided to continue in the event of a serious business interruption.
The roles and responsibilities of individuals are detailed, as are the tasks that should be followed to ensure an effective response to an adverse situation.
The objectives of the Business Continuity Plan are as follows:


• Safety and welfare of employees, visitors and the public are protected at all times


• The impact of the incident on the local community and the environment is minimised


• Continue to deliver crucial services to your customers


• The impact of any incident on your business is brought under control and minimised.


• Quick and appropriate response is made to any adverse situation that may arise.


• Fast and accurate assessment and verification of the potential impacts of the situation.


• Matching the degree and nature of the response to the potential impact.


• Clear and appropriate communication being made with management, employees and customers


The business continuity plan is designed to provide a framework for a structured response to any practicably foreseeable incident resulting in actual potential harm, damage or injury to people, the environment or assets associated with the business.


The business continuity plan is written assuming numerous scenarios associated with the operation of the business ranging from total loss of the facility through to lesser incidents that can be managed through reference to the relevant sections of the plan and utilisation of the recovery strategies. A key part of the business continuity plan is the assessment of key risks for the business that assesses the likelihood, potential severity and possible mitigations for the risks specific to the business, and prior consideration of potential alternative providers for key capabilities.
The business continuity plan is intended to provide task information relating to the emergency response only.

Personal Goals that Inspire and Motivate

Personal Goals that Inspire and Motivate

Are you feeling motivated to set some strong goals for this year? Write down those New Year’s resolutions and get going, right? Most people write down lofty resolutions that they think they should want and rarely stick to them, losing motivation and focus within three weeks of their “good intentions.”

This is a brand-new year of limitless possibilities. Do you want to:

Increase your income?
Write a book?
Attract a relationship?
Start a new business?
Become a professional speaker?
Have more personal time?
Take a really great holiday?

I have a gut feeling it is going to be a GREAT year, a BIG SUCCESS year. So, forget writing down resolutions. They don’t work. In fact, the whole idea doesn’t

 really inspire action. So, lets change that.

Start thinking about 3-5 things you want, really want for yourself this year. Not what you should want, or what you think would please others. Dream a little. Think big. What are you passionate about? Entertain several ideas that make you smile, excite you, make you giggle, make you feel really good inside, no holds barred. Remove all mental barriers to holding these ideas clearly in your mind.

Now, put your attention fully on one of the things you want for yourself this year. Visualise and see yourself already there, living it! Creative visualisation is a powerful tool of attraction. Our minds cannot tell the difference between something real and something intensely imagined. Hold that picture in your mind. (Do this daily!)

Does this picture excite you – make you want to have it?

How would your life change if you got (achieved) this one thing you really want?

What would you have in your life that you don’t have now?

Now, the next step is very important. You must decide to go for it. Choose to have what you really want NOW, not someday or tomorrow. NOW. Say YES to yourself instead of saying no. Making the decision fuels your intent to take action.

3 Tips to Get on Track

1. On paper, clearly describe the 3-5 things you really want. I suggest using statements beginning with the phrase” I intend to”. Don’t use “I want”, “I hope for”, “I wish to”, “I’d like”, “I desire” etc. as these are too wishy-washy. Taking a stand with strong definitive statements reflects your commitment to succeed. (This first step is important in creating your road map to achieving your goals. If you don’t define the results you want, how do you know where you are going?). Feel like being creative? Make a collage or dream board for a visual aid in keeping your focus.

2. Moving forward, break down your action steps into smaller steps over a shorter time period like 30 days. For example: your goal is to increase your income, your first step may be to explore options to generate more money. Another step may be to look at your skills and talents for further ideas. A third step may be choosing something you have always wanted to do, something that you love that has the potential for additional income. Maybe it’s a total change of career. The first month may be devoted to doing research and personal exploration.

3. Identify potential obstacles and struggles that could prevent you from reaching your goals. Develop strategies to keep yourself motivated and focused such as reading and listening to positive materials, surrounding yourself with encouraging, uplifting people, joining a mastermind group. HIRE A COACH! Note: let go of using the “money excuse” that you can’t afford to get what you want. Invest in your success. It costs money to make money. How much do you think NO is costing you to stay where you are?

5 Tips to Stay on Track

1. Resolve unfinished business. Either clear the past (make apologies, speak your mind, forgive someone or yourself) and let it go.

2. Stay strong, if you are feeling FEAR. Bring your attention back to the present. Fear creates uncertainty, worrisome and anxiety producing thoughts. (“What if” thinking, Am I going to be okay?) Fear looks at the future and worse case scenarios. Focus on past successes for confidence.

3. Eliminate negativity. Notice the chatter in your head. How do your emotions speak to you inside? What you think affects how you view a situation. Ever heard the phrase self-fulfilling prophecy? Your viewpoint affects your decisions and actions; therefore, your attitude directly affects the outcome. Take a look at the people you associate with. Are they uplifting or do they bring you down? Be selective about who you are with, being around consistently negative or fearful people is draining and disheartening.

4. Keep up your self-care. Taking good care of yourself physically, mentally, emotionally, and spiritually is a key factor in staying strong and focused under pressure.

5. Celebrate along the way. Taking the time to recognise measurable successes motivates continual commitment to your goals.

“The big challenge is to become all that you have the possibility of becoming. You cannot believe what it does to the human spirit to maximise your human potential and stretch yourself to the limit.” Jim Rohn

How to Triple Your Productivity in One Week from Now

In simple terms, productivity refers to the amount of useful activity you complete in a given time. It is closely related to elegance the ability to bring about the greatest results with the least amount of effort. Your productivity grows exponentially with the degree of elegance with which you perform tasks. So how do you increase your elegance and triple your productivity?

Many people write about the powers of the unconscious mind. This is the subconscious mind that part of each person that takes care of the things we consciously take for granted from the beating of the heart, breathing, or such processes that were once conscious then become unconscious as one develops competence e.g. driving, walking, etc.

Would it be fair to say that to the greater extent that you can take control of and allow the unconscious mind to get you what you want, the greater productivity and elegance with which you perform and complete tasks will be? Imagine for a moment how often do you wake up and start the day on automatic you get up, may be you stretch, you go prepare breakfast, clean your teeth, or if you’re smart and enthusiastic perhaps you go straight for a run or do some other form of exercise

All those things are normal and fine, but if you examine this behaviour it is a habit that you have formed. It happens on automatic if it happens smoothly and you don’t really think and decide about what you’re doing, the chances are its ingrained as a habit and your unconscious mind is running the behavioural pattern. So, how can you use this information to create more of what you want? By taking control of your unconscious processes, teaching your mind who is boss and achieving bigger and better results, small step by small step.

Try this for 7 days. Anyone who can do something for 7 days can do it for 21 days, and the experts say it takers only 21 days to learn a new habit. Do it for six months and the chances are you can keep it up for a lifetime it becomes so ingrained if you choose to. To implement this simple step and triple your productivity in a week, you will need only a pen and paper plus a little willingness to take control and do somethings you have been putting off.

Step 1: Write out a list of about 20 things each day that you know you need to do this can include even the most basic of things such as getting up out of bed on time, making the bed, switch out the lights, wash up my breakfast bowl, etc. You get the picture, just make sure that you have a list of 20 different things that are really easy to achieve.

Step 2: Decide to do the first thing on the list and then do it. Give yourself a tick with the pen and consciously tell your mind that this is a success. Your mind will be pleased with you and support you because you have decided to do something and then you have gone ahead and done that thing that’s a successful loop it shows to your mind who is in control no matter how big or small the task.

Step 3: As you find yourself effortlessly doing this list, and rewarding yourself along the way by ticking off your to do list, you will find yourself feeling terrific about yourself. You will bring to the fore of your mind the things you have been dreading and putting off and actually create the burning desire to get them done well. Your self-belief will skyrocket.

Step 4: You can test yourself by slightly increasing the difficulty of the tasks, perhaps add something you don’t yet know how to do e.g. earn an extra money in a week, speak in front of an audience etc. By increasing your productivity like this and training your unconscious to just get on and support you to do it you may well find you achieve far more than you expected over the next week of doing this. You have it within you to triple your productivity in just 7 days. So, now it is down to you to increase your productivity.

How Does Motivation Work?

Learning how motivation works will help you to accept responsibility for your behaviour, for your actions and positive attitude. In reality motivation comes from a person’s belief, which helps them to achieve their goal. Purpose, Desire, Direction and Dedication are the qualities necessary to experience real motivation.

People motivate themselves by understanding their needs and wants. It could be Tangible Gifts, Rewards or Intangible growth, Appreciation, Recognition and a lot more, as it varies from person to person. How does motivation work in your case? If you Understand how motivation works for you, then your Internal Motivation will drive you to achieve your goals and lead you toward success.

People motivate themselves by inculcating in themselves, the belief responsible for actions and behaviour and creating a vision that helps them to outweigh the challenges that might come before them and accept their responsibilities in life. Lack of motivation brings life to a standstill, failure or fear of failure demotivates people and their pattern of their everyday life. Whilst a motivated person has a spark in their eyes, always looks for new challenges and ways they can improve themselves.

It could be said that real motivation starts from within a person based on how their needs are being consistently met. Without going into a long drawn out explanation of Abraham Maslow’s hierarchy of needs I will state some of the conclusions. The most basic of needs stated by Abraham Maslow was the need to survive. Until that need is consistently met the other needs for all practical purposes cease to exist. Once that need is met then the individual is now ready to fulfil the other needs that may exist for themselves. These can be readily determined by their own specific paradigm of life. A person’s paradigm is just the LENSES they tend to consistently see life through. A set of beliefs that colour their experience and interpretation of all that surrounds them. There is no real change until a person’s paradigm changes. But the motivation to make a paradigm change leads us to the next section.

SELF MOTIVATION AND YOU

If you are a person who is disciplined, goal-oriented, organised and instant, it means that you have the skills to motivate yourself. It means that you have a sense of achievement and that’s how motivation actually works. For you to become the person that you are today.

Motivation is temporary and short lived and hence it needs to be strengthened constantly to succeed. Negative thoughts and anxiety come into play and we can become demotivated and dubious about our future. However, just by accepting the challenges to move forward, one can get motivated as you will have the will and commitment to be successful, Accepting the failures, learning it as a lesson in life, helps us to move on to the next stage of success.

CONCLUSION

Self-motivated person knows the trick to get motivated after a disappointment and accepts the next obstacle that comes along. A motivated individual understands his thoughts and emotions, learns how to nurture them into a positive outcome, that keeps them focused on the next goal instead of being Complacent.

Here is a motivational video that will help you set your day – Video

How to be a Responsible Coach

Assuming the Responsibilities that come with Being a Coach

Who can forget the famous line of Peter Parker (Spiderman’s grandfather)? He said, with great power comes great responsibility.

Society expects TV and movie superhero with extraordinary powers to be responsible for saving his town and the world from the forces of Evil. And he never let us down. Despite the temptations of owning such powers, he uses his abilities only for the good of the people around him.

Being a coach has similar parallels. Great coaches can have real power through their abilities to help others and with it, the responsibility to guide others towards success. This is REAL power that can be used to help real people in THIS world. Done well, coaches can help others turn around their lives. Done wrong, and a coach could guide a client down the wrong path.

So, with this power to coach your clients towards manifesting their personal and/or business vision comes responsibilities. Great coaches assume them all as part of the professional responsibility. This can include everything from making sure your client is moving in the right direction, getting them back on course when they are not, and developing and tracking their use of exercises to help them along the way.

There are a few things you can do to be a more responsible coach. Just as important, these same skills can be imparted to your clients to help them lead more responsible, integrity-filled lives.

How to Bring out the more Responsible You in Yourself and your Client

#1 – Develop self-awareness.
Learn and know your own strengths and weaknesses to be able to view your behaviour objectively. Recognise your shortcomings, receive feedback, and make changes when necessary. The more self-aware you become of all your aspects, the more you will know what kind of clients you can coach best and just as important those best referred to others.
The lesson is simple: the more we grow, the more we can offer, and the more we can help others.

#2: Learn to Separate Responsibility from Worry
When we hear the word responsibility, we often think to ourselves, Another task, another problem. However, responsibility is not about worrying over things given to us to work out. Consider this story:

One night at the end of the second shift, the Head of Operations walked out of the plant he managed and passed a labourer. The labourer said, “Mr. Smith, I sure wish I had your pay. But I wouldn’t want the worry that goes with it.”

Mr. Smith answered, “I give the best I can when I am here. But I drop the worry when I leave so I can be 100% with my family when I’m at home.”

You, too, can learn to give your best to challenging work, but then leave it at the door when your off-hours. Worrying accomplishes nothing except to eat away at us, and actually ends up making us less effective! Don’t let worry taint your clarity of judgment and ability to take decisive action. You can learn this as you grow.

Carrying the responsibility of coaching should not intimidate you. It is the ability to help others that coaching is all about. Embrace the responsibilities that come with it.

Nothing is gained by worrying about whether your clients achieve their goals or not. Focus on supporting and inspiring them. Be their partner in their growth. Brainstorm with them when it is called for. But ultimately, it is your client’s responsibility to assume responsibility for accomplishing their goals. You merely help them see and achieve this state.

#3: Take Calculated Risks and Learn from Your Mistakes

Effective coaches have the courage to ask their clients to take risks when results and success are uncertain. A willingness to risk failure is a core attribute of all successful people.

As a coach you can help your clients work with risk and possible failure. Help them learn to analyse their situation and options. Work with them to list the pros and cons for each option, then assign each choice a risk factor rating from 1 to 5. Next, have them determine the likelihood of each occurring. This will help them quantify and manage the risk-taking process.
Also, lead them to a better paradigm regarding failure. What is failure other than great feedback that our current course of action is not the right path? Use this information for course correction. Failure doesn’t happen until we give up. If you don’t give up, then failure is not an option.

#4: Own and admit our mistakes
Our greatest lessons and growth come through our mistakes. Everyone makes them; it is part of life. Help your client understand this, and they will be able to draw the necessary lessons and take corrective action. If we do the blame game, we don’t even take the first step (ownership) in this process.

Not only does owning our mistakes and failures help us to be more truthful and powerful in our own lives. Owning and assuming responsibility for them lets others see the integrity and virtue within us, and hence further gain their respect.

Plan Do Check Act Wheel

Dr. Williams Edwards Deming (1900-1993), who was a management consultant and statistician that used his methods and philosophy to help Japan recover after the second world war, developed the concept of Plan Do Check Act (PDCA). The PDCA is a methodology for achieving continuous improvement through a closed loop system.

 

PDCA

A brief summary of Plan, Do, Check, Act

Plan

Think of where you are now (Current State) and where you want to be (Future State), then plan the change, which can include but not limited to the following:

  • Scope of the change – Goals and Objectives
  • How you will monitor the progress of the change
  • How you will measure the effectiveness of the change
  • Check any legal requirements

Do

This is where the plan is put into implementation and activities organised. These may include but not limited to the following:

  • Identify the biggest risks
  • Good communication so that everyone is clear on what is required
  • Provide adequate resources
  • Provide the right tools and methodology to do the job
  • Provide training where it is needed
  • Create procedures
  • Follow procedures
  • Walk the process

Check

Once the changes have been implemented compare the future state with the old current state and consider the following:

  • Is the new process more efficient?
  • Is the new solution working?
  • Have you met your goals, objectives or targets?
  • Do you have the data that corroborates what you are measuring?

Act

Your new process has now become the baseline (current state) from which you will now try to improve. This may mean:

  • looking at an individual part of the process
  • automating the process
  • using new software
  • updating procedures
  • creating policies

You can repeat the PDCA process as many times as needed until you are certain that the process is as efficient as possible.

The benefits of the PDCA process

No matter what business you are in you will have competitors so the quest for excellence must be constant so that your business stands out. The PDCA process gives you a method for continuous improvement, therefore, ensuring that errors can be corrected. The efficiency and effectiveness of your business will also be improved allowing for better strategy development and planning. PDCA can be used in a variety of businesses for project management, change management, product/service development, etc. therefore, making the PDCA process versatile, simple and powerful.

 

9 Reasons Why You Need A Business System

arrows box business chalk
Photo by Pixabay on Pexels.com

If you want to build your business, it is essential that you have systems and processes in place as they serve as the building blocks for your business and without them you cannot grow your business. Here are the 9 reasons why you need business, systems:

1. Consistency – With a business system you can repetitively produce the same products and services with no variation. Systems can be implemented for sales, marketing, operations, training, etc. This allows you to monitor your business so that you can make changes to improve it.

2. Change – Because change in any business is inevitable by having systems in place and knowing how your process works you can modify it quickly to suit the required changes. Also, with systems in place you will be able to review it and apply continuous improvement which will improve your business overall.

3. Training – A system will allow proper training to take place which in turn will increase productivity and effectiveness. Procedures will be in place which allows employees to have consistent, high-quality performance on relevant tasks.

4. Focus – When deadlines or new projects are required, business systems will allow the activities to be performed on autopilot as everyone will know the processes and procedures that are required.

5. Customer Expectations – Systems will allow you to measure and analyse customer satisfaction, this will give you information on how to improve your products or services that will give you the competitive advantage in your market.

6. Reduce Costs – The business system is the only way of providing quality assurance as you don’t have to repeat activities several times due to defects. Systems will also allow you to remove waste from your business.

7. Profitability – Because systems are in place your business will be efficient and effective and you will have reduced costs by removing waste from your business. Customer satisfaction will have increased and you will have improved your on-time delivery therefore you will increase your profitability.

8. Value of your business – By having systems in place your business instantly becomes more valuable to an investor, this is because the investor knows that your business will run smoothly, and quality is assured. This will also help you to sell your business and command a higher price.

9. Strategy – By having business systems in place you will be able to step back and work on your business instead of in your business, therefore you will have the time to become more strategic and be ahead of the competition.

 

Deming’s 14 Points and Property Investing

flat lay photography of macbook pro beside paper

Dr W Edwards Deming is known as being one of the quality gurus and is highly regarded in Japan as Deming made a significant contribution to Japan’s reputation for innovative, high-quality products, and for its economic power that has helped Japan become the second largest economy in the world. As some of you know I am a quality professional as well as a property investor and therefore I have studied Deming’s work over a number of years and particularly his 14 points which still apply to today as it did in 1982 when it was first published.

I was revisiting the 14 points to see how I could apply them to property investing and this is what I came up with:

1. “Create constancy of purpose toward improvement of products and services, allocating resources, with the aim to become competitive, to stay in business, and to provide jobs.”

This point calls for looking ahead and making changes to your business so that you have better approaches to changing markets and environments. The one that comes to mind is the changes in the tax laws that we will all have to face, so think of the ways that you can mitigate it. But bear in mind who your customers are as the customer’s needs remain the top priority in your business because without them you have no business.

2. “Adopt the new philosophy. We are in a new economic age. Western management must awaken to the challenge, learn their responsibilities, and take on leadership for change.”

This point is all about innovation and change management. Therefore, look at your processes and systems and make them robust. If you don’t have any yet, then now is the time to start applying these to your business otherwise you will be working in your business instead of on your business.

3. “Cease dependence on inspection to achieve quality. Eliminate the need for inspection on a mass basis by building quality into the product in the first place.”

This point is about monitoring your processes at every stage and not trying to detect defects at the end. Not only will you prevent defects from happening, but you may also be presented with an opportunity to innovate the process. So, for instance instead of doing snagging at the end of a refurbishment do your snagging during the refurbishment.

4. “End the practice of awarding business on the basis of price tag. Instead, minimize total cost. Move toward a single supplier for any one item, on a long-term relationship of loyalty and trust.”

What this point is telling us is to stop cutting corners by buying cheap materials when in fact you need good quality materials as this will work out cheaper in the long run. You also need to work with single suppliers and build up relationships so that you can work together in this way you will get your materials at a decent price and delivered on time as your supplier will know exactly what you need. Also, by building the relationship you will know what your competitors are doing as the supplier will have their ear to the ground and let you know.

5. “Improve constantly and forever the system of production and service, to improve quality and productivity, and thus constantly decrease costs.”

This is about building a culture of making improvements within your business. By ensuring everyone is looking at all of your systems and processes on a constant basis and finding ways to make improvements you will increase the quality, your productivity will go up and your costs will come down.

6. “Institute training on the job.”

People are part of the process; therefore, you need to train them properly, therefore you must have continual support for learning about process monitoring and improvement. This can also be applied to people outside of your business e.g. estate agents can be trained to understand what your requirements are and not to give you information on unsuitable property that does not meet your needs.

7. “Institute leadership. The aim of supervision should be to help people and machines and gadgets to do a better job. Supervision of management is in need of overhaul, as well as supervision of production workers.”

Leaders should help people think about their job and find ways to make improvements, this will also help people understand their processes. This will help your business grow and become part of the culture.

8. “Drive out fear, so that everyone may work effectively for the company.”

Research has shown that if people are afraid to speak freely it will have a negative impact on innovation and reasoning. Therefore, you need to ensure that the people in your business can speak candidly.

9. “Break down barriers between departments. People in research, design, sales, and production must work as a team, to foresee problems of production and in use that may be encountered with the product or service.”

You need to have a cross fertilisation team that can work together, e.g. planner, architect and builder working together to come up with a design that suits your needs.

10. “Eliminate slogans, exhortations, and targets for the work force asking for zero defects and new levels of productivity.”

You need to remove targets and quotas for people to hit, instead you need encourage your team to work collaboratively as this will move your business forward.

11. “Remove barriers that rob the hourly worker of his right to pride of workmanship.”

This is point is about putting quality before quantity and encouraging people to make improvements in their work. By allowing people to make improvements you are also encouraging your business to improve.

12. . “Remove barriers that rob people in management and in engineering of their right to pride of workmanship.”

This is about allowing people to manage without undermining their responsibility. Managers also need to encourage continuous improvements and allow people to take responsibility for their work.

13. “Institute a vigorous program of education and self-improvement.”

Training should engage people in on-going learning opportunities and not just limited to specific tasks. Also, you should allow time for your own on-going mentoring, training and education so that it can help you grow your business.

14. “Put everybody in the company to work to accomplish the transformation. The transformation is everybody’s job.”

This is all about teamwork within your business and collaboration with your suppliers and power teams so that everyone is on board to help you grow the business.

As you can see Deming’s 14 points can be adopted and applied to any business, therefore it can work in your property business. I have just skimmed over them as you need to see how you can apply them to your own business. If you would like to know more about the 14 points and how to apply quality to your business, I suggest that you read Deming’s book ‘Out of Crisis’.

What’s your strategy?

Introduction

How often do we hear people at network meetings ‘What’s your strategy?’ and the answer is usually goes something like ‘Baby buy to lets, then move up to HMO and eventually commercial properties’, and everyone is satisfied and they then move onto the next person and ask the same question. This always begs the question why are using this strategy, what are you hoping to achieve? You then get the blank looks or a mumbled answer which indicates that this has not been thought through.

According to the Business Dictionary strategy has the following meanings:

  1. A method or plan chosen to bring about a desired future, such as achievement of a goal or solution to a problem.
  2. The art and science of planning and marshaling resources for their most efficient and effective use. The term is derived from the Greek word for generalship or leading an army.

Integrated Method

As can be seen by the above definitions strategy is linked to a plan to bring about a desired future and we need to bring our resources together to be efficient and effective. What do we mean by this and how can we achieve it? Because we need everything and everyone to work together rather than in isolation we need to consider an integrated systems approach. This method is about people and systems coming together and working as a team. Why as a team? If we think of the system as a football team and now the manager calls each team member one by one and tells them what the tactic is that he wants them to play. The team then go out on the field and they play badly because each member of the team only knows what his specific task is, they have not had the benefit of listening to what was said to everyone else and knowing what their roles were. Now that you get the idea why we need an integrated approach let’s model it so that you can see how it fits in together.

 

As can be seen by the model you need to understand where you want to be in your future, as this is the starting point. This could be your why, or it could be your financially free figure. Once you have decided what your future should look like then you can work on your strategy to see what you need to achieve your future. Then you need to understand what methods and tools are required to make it a reality. Do you need training in the tools and methods? If so this needs to be added to your integrated approach. Finally you need to consider what systems need to be put in place to support the integrated approach and KPIs (Key Point Indicators) to measure your success. By having flow down and feedback throughout the integrated approach everyone understands what is required to reach the future state.

If we take each of the headings and place it into a table we can then work on each section to come up with our integrated approach e.g.

 

Where do I/we want to be? What is my/ our strategy? How can I/we do this? What capabilities must be in place? What systems are required?
Financially Free Figure of £10k per month Buy to Let = £200 per month.

£10k/£200 = 50 Buy to Lets

 Money in Money out.

 

 Training Courses KPI’s
HMO = £1500 per month.

£10/£1500 = 7 HMOs

 Joint Ventures Mentors Standard Work Procedures
Serviced Accommodation = £2700 per month.

£10k/£2700 = 4 Serviced Accommodations

 Investment area(s) Benchmark against successful investors Lessons Learnt

Work with suppliers (Estate Agents, Letting Agents, Sourcing Agents etc.) so that they can deliver to our requirements

 Power Team Visual Management

 

You can see by using this method you start to build up a picture and you begin to see how everything is linked to your future state. This is your birds’ eye view of where you want to be. This can then be broken down further e.g. you may decide that you only want HMOs as your strategy, in which case everything below the strategy needs to be geared for HMOs e.g. Finance, Estate Agents and Letting Agents that deal in HMOs, Training, Regulations, Commercial lending, vetting, house rules, etc.

 Conclusion

When you work on things in isolation it is quite easy to lose your way, by having an integrated approach to your business you will become more focused and achieve quicker results. Planning for your future state is important so take your time to think and make your plans. As Abraham Lincoln said ‘Give me six hours to chop down a tree and I will spend the first four sharpening the axe’