While we are all on lockdown with no clue when it will be lifted, it gives us the perfect opportunity to do some of those tasks that keep getting put to the bottom of the pile but also be active in making sure our business is ready to hit the ground running as soon as the lockdown rules are lifted.
Here are your top tips of tasks to help keep your business going during the lockdown.
1. Keep safe, wash your hand, keep safe social distance, don’t go out unless you absolutely must.
2. Create your Business Plan- There are free templates available online e.g. princes trust
3. Attend a mastermind with like-minded people
There are a number of these available for free from business schools online. NRLA hosts webinars for advice on current guidelines for landlords even if you are not a member. https://landlords.org.uk/
4. Attend networking conferences online.
Your Network is your Net Worth.If like most people you normally find it hard to fit these into your schedule, now yu have plenty of time.Look on EventBrite for what is on for your area. Zoom etc. has become so popular now for this sort of thing.
5. Read a book.
6. Set aside time to brainstorm ways to improve your business strategy and think of new ways to fund your projects.
The Wealthy Gardner by John Soforic calls this your “Impact Hour”.We should really be having at least one impact hour every single day. You’ll be glad you set aside the time to just get into your own mind in a positive way and let yourself be creative.
7. Get in touch with your local Estate Agents. (Or whoever else is key to your business)
Let them know you are still open for business and ready as soon as the gates open. Some might be doing virtual viewings. Become allies with them.Keep an eye out for our checklist on building rapport over the phone.
8. Come up with a new lead generation strategy or a lead magnet.
Think about what is the next big way to grow your business and bring those clients through the door.
9. Get in touch with your power team and get their professional advice on opportunities at the moment .
e.g. your mortgage broker can tell your which lenders are lending at the moment. If you do not have a power team, interview for one so you are ready.
e.g. your mortgage broker can tell your which lenders are lending at the moment. If you do not have a power team, interview for one so you are ready.
10. Check your credit rating.
Experian and ClearScore give you your credit report for free. They also give you recommendations of what you can do to improve your score.
11. Build up your brand's social media presence.
You could organise your social media management calendar. Use this to connect with investors, potential JV partners and clients and expand your reach.
12. Create or Update your website.
There arefree website builder tools available like Wix or Google sites (if you have google suite)
13. Set up or streamline your systems.
You must always have a pipeline.
It can be time consuming to set up a system but once it is up and running you will be glad you did. A well systemised business means your business can continue to run even when you are not there. You do not want to leave your 9-5 for a 9-5.
14. Look at your spending.
Go through your last 3 months' bank statements and streamline. Look at what additional
expenditure you can cut down and set yourself a budget.
15. Get some additional training.
There are loads free online courses coming up. Maybe a Social Media Management Course, a Digital Marketing Course or something else that will help you grow your business.
16. Reach out to family, friends and even tenants or clients.
Check-in, keep them updated on what is going on with you or your business.
17. Update your will or put one together if you do not already have one.
You do not actually need a solicitor present to do this. You can get a will writing kits online. As part of this process, if you have a partner, update, or put together a household plan. This is a document
that can be accessed should anything happen to you. It will include information on e.g. accounts, important business or personal finance information e.g. life insurance policy numbers etc. This will help your partner to make informed decisions should anything happen.
18. Work on your business cards.
Get these ready for networking when we can get out again. Services like Fiverr.com can help or Canva if you want to design it yourself.
19. Create your email signature.
An email signature will make you look more professional. Guidance on how to do this are available online.
20. Calculate ROI and ROCE on 10 properties
We often don't think of the ability to do this as a skill, but it is and as such, all skills need practice to keep them up to date.
21. In depth research of your investment area.
In depth research of your investment area.
22. Look into what you can outsource.
Make a list of all of the tasks involved in your business or even your personal life. Could you trial outsourcing some of those e.g. would a Virtual Assistant help your business? (Keep a look out for an exciting opportunity we have coming up to help you find your next VA)
Would hiring an ironing or cleaning service free up a lot of your time to concentrate on income generating tasks?
23. Start a new campaign or continue to send out landlord letters and leaflets.
Obviously your letter or leaflet must be sensitive as this is potentially a very difficult time for people.
24. Look into remortgaging your portfolios.
Interest rates are at an all time low.This could potentially mean a great opportunity for you to release some funds to put into new projects as we come out into a recession.
25. Start a blog or maybe even a YouTube chanel.
Maybe it's something you have always wanted to do but never quite found the time. Maybe you were lacking in knowhow. There is time to get an online course and get started. It's an opportunity to get creative and talk about your passion; your business!
26. Update your CV, cover letter or LinkedIn profile.
These tasks may have not been on your list of priorities before lockdown, but now you have the time to spruce themup so that they have all of the relevant, up to date information about you and your business.
Remember: The Lockdown Won’t Last Forever.
We encourage you to prepare for that transition thoughtfully and proactively. We hope you have found these tips useful and that we've given you some new ideas on continuing to grow your business; even if you can't quite do it the way you want.
We wish everyone health and safety during this unusual time.
"Start where you are, use what you have,
JUST START "
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