There’s only so much that you get for free, and free only reaches a certain level of professionalism. There are times that you simply MUST invest in your business. Whether you’re operating a local virtual tour business or you’re a major operation looking to increase worker productivity by going to an online CRM system, investing in your business each year is a MUST DO on the ol to do list.
The first thing that you need to do is make a list of the things that you want and also things that you need. The list will consist of things that you think would make your life easier, and things that you simply need to continue day to day operations. Your list might include items such as online products, hardware, logo wear, a new website, and so on. If you’re anything like me, the list will be a long list of wishes, needs and wants.
Some of the items on this list will have a direct impact on revenue. Meaning if you buy it and implement correctly you will be able to make more money. I always give these items a +1 next to them. Then there will be some items you will just have to purchase to keep day to day operations running. Next to these items I put a +2. I’m a firm believer that you should look at the things required to continue day to day operations first.
Next it’s time to decide how much you can spend. This will be different from person to person, credit limits and so forth. To do this part I typically start out by taking my accountant, which happens to be my wife, out to dinner and make sure she has a glass or two of wine. Somewhere between glass one and two is when I like to bring up any additional items that need to be purchased for the company. So far, this method seems to work very well.
With the RealTour Fusion system coming out soon, Jim and I have been talking daily about the integration of video clips for our Traverse City Real Estate photography company. After breaking everything down it became pretty clear that we would need about $1600.00 of additional investment for the company to grow. We needed a new computer to run the new video editing software, a new Canon SLR to capture the videos, and finally a new camera harness to increase stability during capture. We could have gone with higher end items and even some lower end items but after about one week of testing out different cameras and lenses we chose one that fell somewhere in the middle.
Our computer arrives this Thursday and Jim will begin the process of editing video clips for our virtual tours. There will be much to learn as we roll out Fusion and start down the road of video for real estate but the rewards of reinvesting in our virtual tour business vs the costs will be well worth it.
Go get em RTV! Jim and I are very excited to see everyone at the next RTV Virtual Tour Convention this year too. Have a fantastic week and don’t forget to start working on your list.
Jim Blue & Jason LaVanture
Toll Free – 877-941-TOUR (8687)