In the real estate industry, we pay very close attention to the statistics.
I’m certain that virtually everyone else out in there in every other industry does the same (whether they want to admit it or not). Most folks profess a dislike for statistics, but acknowledge that stats certainly ARE useful as a way of getting the pulse of “What’s really going on out there.”
Things we can learn from studying Statistics:
- A notion as to where we are in the Economic Cycle – (Growth, Prosperity, Contraction, Recession)
- Identifying niche’s so we can innovate to fill in gaps with creatively diversifying (or not) our products and services
- Measuring our performance against competitors (and the market as a whole)
- Identifying trends, so we can fine tune our processes
- Train our “Peeps” (Sales Force and Client Base) – Better educated people make informed decisions
- What else?
Things that we MUST keep in perspective.
- Today’s statistics reflect yesterday’s (Last month’s, 3 months’, or year’s) performance
- Statistics are one dimensional and seldom tell the whole story – Mostly serve as “clues”
- Statistical analysis is only as useful as the “User” allows – We must be careful about falling into the trap of having preconceived notions as to what we WANT them to tell us.
- LOCAL is BETTER! The tighter the “Subject” the more appropriate . . . BUT . . . Keep an ear to the ground for “outside spanners” – Space Invaders lurking with intentions to spoil the brew
I realized yesterday that the end of the 3rd quarter of 2011 arrives in a little over 2 weeks . . . Making way for the birth of the 4th Quarter . . . The work we do NOW until the “Holiday Season” (Beginning with Thanksgiving) will absolutely define how we launch into 2012. That gives us @ 60 days to PERFORM!
What do I mean by “PERFORM?”
The next 60 days are the time for anyone and everyone to be OUT THERE meeting with PEOPLE.
Doesn’t matter what industry you are in (Although I am mostly talking to REALTORS), face-to-face – Belly-to-belly interaction is what will lay the strongest foundation for 2012.
NOW is time to network . . . Make new connections . . . brainstorm new initiatives (don’t do them yet) . . . Spend as much time as you can stand with GENUINE CONTACT with other people.
When the holidays show up, you’ll have a nice base and can feel more comfortable taking some time off and really BEING with friends and Family.
During those (slower) times, “Work” can shift to “planning and implementation”
So . . .
KNOW your stats! YES!
More importantly . . . Know what your stats are REALLY telling you and respond accordingly.
Just sayin’
Best,
b