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How To Make A Profit From Real Estate

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StrategyDriven Entrepreneurship Article |Profit from Real Estate|How To Make A Profit From Real EstateMost people can come up with a few ways to make money from property, but these are often conventional routes. If you think outside the box too, you will have a full range of options available to you if you want to make real estate work for you.

Buy A Neglected Property

This is one of the more obvious ways to turn a profit from property. Buying a home that needs some maintenance is one of the best ways to get a fast return on your investment, although this route isn’t for everyone.

You might be able to manage some small improvements, like painting and decorating or small makeovers, but are you willing to buy a property that needs more than a little bit of redecorating? This is something you should think carefully about before you buy anything, as major renovations can be stressful and time-consuming.

Homes that need some small repairs and redecorating can pay off too, but they are harder to find. Regardless of how much work is needed, remember to factor in all the costs and don’t forget to include the fees and taxes that come with selling.

Of course, it’s not just quick-fix maintenance that will help you secure a better profit, but commercial property management that can help you manage all of the administrative tasks of a building’s presence, and ensure you’re always on the right side of the law and contribute taxes. This way, no nasty fines come your way; and when a client is interested, the building will be prepared as appropriate.

Bag A Bargain

Buying low and selling high is one of the most obvious ways to make money from property, that any real estate investor marketing tips will tell you.

Unfortunately, because this an obvious tip, it can be very difficult to find a low-priced gem in a competitive area like buying and selling homes, but that doesn’t mean that you can’t find a below market value property if you’re lucky.

Perhaps you know someone who wants a quick sale, or it could all come down to good timing. Having a good relationship with your local estate agent could help you with this. Let them know what kind of property you’re interested in and tell them that you’re willing to move quickly on any great property deals. With your agent doing the groundwork for you, your part of the buying process could be as easy as answering your phone.

Buy-To-Let

While you’re thinking about more predictable ways to make a profit, think about buy-to-let properties. Most real estate investors know that becoming a landlord is one of the main ways to make a profit from a property.

With record low-interest rates hurting some savers, buy-to-let can offer a really good alternative. Property markets have outperformed stocks and other investment vehicles for years, and they have even survived recessions very well, so it’s no surprise that they’re so attractive.

You might wonder if it’s too late for you to join all those landlords who are making money from property. It definitely isn’t too late. It is harder than it used to be, but when you weigh up your financial options and look at other ways to increase your income, property still comes out on top. Not only that, but searching out the best investment property in your area can be a very exciting thing too!

Unique Ways to Convert Shipping Containers for Businesses

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StrategyDrive Entrepreneurship Article |Convert Shipping Containers for Business|Unique Ways to Convert Shipping Containers for BusinessesDid you know? Shipping containers are not only useful for transporting goods. These sturdy containers are both resilient and robust and also made to withstand different temperatures. When shipping companies are through with a container, these get discarded. Discarding containers doesn’t mean they’re useless. It means they’re available for a variety of options. Shipping containers are a large, looming, and sustainable solution for many businesses. The material of most shipping containers is an industrial-grade steel exterior.

As we are globally looking for solutions for sustainable construction, shipping containers are the best option. If you walk into a container, you’ll notice that they’re spacious and comfortable on the side to conduct several business activities. Once you purchase a shipping container, you can convert the space into a proper business outlet. Suppose you’re interested in creating a business for yourself that is both unique and creative. In that case, you should consider obtaining a container for yourself. To help you get started, here are some ideas that you could explore to create a sustainable business for yourself:

1. Find A Shipping Container For Yourself

It will help if you start by getting a shipping container for yourself. There are numerous options available for you that you can explore. You should see a shipping container for yourself and decide what type you want to work with. There are many sizes available for your needs. For instance, if you are ready to expand or operate a small business, you must decide when to purchase and plant the container. Once you figure these two crucial details, you can easily find a 10 or 20 feet container for sale, and it’s time to start your business.

2. Retail Stores

People are interested in local stores and local purchases. Retail businesses are good sustainable business models which boost the local economy. You can efficiently utilize the space to set up shelves and even mount hooks inside the container. After your area is optimized, you can display your products. These include jewelry, clothes, and even books. The best aspect of using shipping containers is getting another one if you need more space. There’s no limit to how you use your area and enhance your business model.

3. Coffee Shop

Coffee shops are an excellent business idea, and these spaces serve as a meeting point. They’re a working space and even a place to relax. Not everyone is willing to work with large businesses and franchises, so a cozy coffee shop is a good choice. You can convert the space inside the container into a counter space and allocate room for coffee beans. As for seating, you can add chairs and tables at a reasonable cost inside these containers. If you have spread outside of the container, you can transform it into a spectacular outdoor space.

4. Construction Workers Rest House

When construction workers are working on a site, they need spaces to rest. They can’t look at motels or small inns for months. Construction companies are also looking for ways to find budget-friendly rooms for their workers. Companies can look for containers and convert them into transportable rest houses. They can take these containers anywhere with them and set them up for use. These containers can also get converted into storage units. Construction workers can use these spaces to store their equipment. It helps keep the workspace tidy and free from clutter. It also boosts OSHA standards when equipment gets safely put away.

5. A Place To Dine Out and Drink

Food is a popular business option, and eateries are almost always a hit. You can purchase a container to open a bar or a restaurant. Depending on the type of eatery you plan on running, you can decorate the interior. You can express yourself through your space. Add funky lights, paint it both inside and out, and purchase quirky furniture. Suppose you like the idea of incorporating your principles into your business. In that case, you can buy thrift store furniture and even paint famous icons. The only factor you need to decide is the kind of food you will serve. You can modify the container to store and cook the ingredients you wish to cook. Bars are slightly different. You need to revamp the space into a functional bar. Once again, you can decorate the container as you like. You can use colorful lights, neon signs and build a storage place for alcohol.

6. Flower Shop

Flowers are a token gift item, and people turn to flowers for various occasions. You can start a flower shop from a container and put them on display in a certain way. You can create a gorgeous exhibition of flowers near the entrance of the container. The rest of the container can hold your wrapping items, ribbons, and even cards. You can also use it as storage for flowers by ensuring they get adequately potted with plant feed. Containers can also get modified to support and a functioning water line. If you feel worried that your flowers will wilt, you don’t have to. You can create a space that would help you sustain flowers for a long and even grow some on your own.

7. Pop Up Shops

Pop-up shops are an ambitious idea. These shops pop up and provide services or hold exhibitions for a limited number of days before moving to the following location. If you like the idea of moving around and working with different crowds, you should consider starting a pop-up shop. You can hold art exhibitions, display your fashion line, and even a perfume line. The idea of pop-up shops is all about the interaction between you and your consumers. You can play music, use several lights, and even make a whole presentation of what you’re trying to sell.

8. Portable Health Clinic

Containers can get safely used as a mobile health clinic. These containers can get cleaned thoroughly, sterilized, and even hold medical equipment. Mobile health clinics are helpful for the community. People need help anytime and anywhere. Not everyone has the time to wait for an ambulance. These portable health clinics can help patients become stable before they get sent to the hospital. Around flu season, these health clinics can administer shots and even carry out lab tests such as blood samples. Mobile health clinics can help elevate the pressure on significant hospitals and even help the staff manage their schedule better. These clinics are also a solution to many rural communities that cannot get help or access hospitals. Mobile clinics are not only a business model but a powerful solution to many healthcare problems.

Wrap Up

Businesses don’t always need to follow a conventional business model. You can use shipping containers to create a unique business model for yourself. Shipping containers are sturdy boxes that allow you to modify them as you wish. You can purchase these containers and transform them into a space of your choosing. There are numerous business opportunities for you to explore. You can create a space for people to eat and drink. You can start your line of sustainable business. You can also create a space for people to meet and socialize while enjoying a beverage of coffee. One of the most innovative business ideas you can develop is a mobile health clinic that goes beyond a business model and solves a genuine crisis.

Be Like Water: 3 Martial Arts Lessons for Negotiation

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StrategyDrive Practices for Professionals Article |Negotiation|Be Like Water: 3 Martial Arts Lessons for NegotiationIn the struggle between the stone and water, in time, the water wins.

– Japanese Proverb

You may wonder what martial arts and negotiation have in common. As a lifetime practicing martial artist, I constantly use lessons from various martial arts to help me in my professional life. One of the most common themes running through all martial arts is the silencing of the “self.” Martial artists meditate to quiet themselves and become more attuned to the processes of the self and the world around them.

Negotiators must also be mindful, especially if they wish to be successful. When you’re doing all the talking and pushing, you’re the rock or the stone. Whereas when you’re water, you take whatever shape you need to become. This puts you automatically in control, even if that requires patience and time. You can be prepared for anything without being blocked by your thoughts and senses.

If you’re tense or distracted by the planning and anticipation of your next move toward your opponent, you’re much more likely to be hit. Similarly, if your thoughts and senses block you in negotiation, you’re more likely to give away your position, strategy and point of weakness. But if you come prepared to listen with complete openness, you begin to notice things. You find openings in arguments, unravel the essential backstories behind the arguments and realize where the actual questions lie.

Negotiation is investigative; it’s an art for the curious. Those who approach it with an open and serene mind are less likely to expose their weak points for attack. This is what it means to become the water and not the stone.

Here are some martial arts techniques to apply to negotiations:

1. Relax without showing strength or weakness

Great competitors will not show their strength because it also may display a weakness. Revealing your strength can expose your vulnerability. To be like water, relax.

I recall an instance where I did exactly this. I was attending a play in New York City’s Times Square with my business partner at the time, accompanied by his girlfriend and my wife. After the fantastic show, the audience poured through the exit. I was about 10 feet away from my wife and business partner’s girlfriend when I observed a man studying them. He seemed to be looking at their purses. I could sense he was about to make a move, so I immediately closed the gap and stood between him and the women.

I looked him in the eye and smiled and put out my hand to shake his hand, and I said, “Hey, how are you doing?” He put out his hand and shook mine, and I just said, “There’s nothing for you here.” He shook my hand for a little longer than you’d expect and then smiled and walked away.

This is a perfect example of the power of a be-like-water strategy. I wasn’t threatening. I wasn’t afraid. I could have approached the matter differently and been combative and accusatory, but that would have caused far more trouble than it was worth. I knew in that instance to be like the water — calm, collected. I listened and observed my surroundings and obstacles, ultimately knowing that through the art of listening and silencing myself that I could leave the situation unscathed yet wiser.

2. Find openings

In martial arts, the search for that opening in your opponent is a patient one that eventually yields results.

Negotiation is a human process and thus rich in human interaction, showing your human side, establishing that you care and demonstrating empathy make the people you interact with more comfortable. How can you do this? By listening and asking questions.

Imagine that you enter your negotiation with questions. You come in like water. You’re prepared but don’t presume your outcome by making demands of what you want. You ask good questions.

What are good questions? Those that, like water, find an opening.

Finding openings can be the most challenging part of a negotiation, and asking and listening offer the best opening. If you’re specific about precisely what you want at the outset, you may leave something important on the table. If you ask for too much, the negotiation may end quickly.

Openings require open-ended questions and a bit of small talk. People are more receptive to open-ended questions. Asking open-ended questions creates an atmosphere in which your counterparty thinks and believes that the ideas presented are his or her own.

When you open by listening, you’re letting the other party in the negotiation lead. But you need to let them lead in a way that doesn’t appear as though you’re trying to corner them. This means asking open-ended questions, not closed-ended ones. Think of closed-ended questions as those that can be answered with yes or no, while open-ended questions welcome narrative.

Patiently search for that opening in your opponent. Consider borrowing from classic sales techniques and using questions to uncover shared interests. Respond to the opponent’s answers with follow-up questions to establish trust.

An opening I’ve used is: “So, why are we here?”

I’ve diffused tension with a simple, “How can I help?”

Openings to negotiations should be simple, non-threatening, inviting and used to establish trust.

3. Wait for the right moment

Don’t come into a negotiation with your sword drawn. Come in empty-handed. Come in formless and shapeless, like water. Come in prepared to ask evoking questions that will lead to discovering information that you can use to your advantage. But first you must get them talking.

Intently concentrate on listening so that you’ll remember everything you hear. Uncover all of the essential backstory to find out the other party’s true desires and dissatisfactions and what they most want. Then, and only then, connect your services, your products and your perspective with the other person’s needs and desires.

Openings are conceptual gaps where you can test, interject and match their needs and desires with yours. You must be so well prepared and clear on your negotiating position that introducing these as needs and opportunities will be effortless. It will be natural. You’ll be leading, but the other party will believe that the lead is theirs. When you behave and act this way, the other party will feel like they’re teaching you.

Come in ready to listen with complete openness until the opportunity to present your position arises. Most of all, be patient and relaxed. Be like water.

About the Author

StrategyDriven Expert Contributor | Cash NickersonCash Nickerson is chairman of AKKA North America’s Business Unit. He was President, CFO, General Counsel, and the second largest shareholder of PDS Tech prior to its purchase by AKKA Technologies. Previous roles include attorney and marketing executive for Union Pacific Railroad, associate and then partner at Jenner & Block in Chicago, and chairman and CEO of an internet company. He teaches Negotiation as a Professor of Practice at Washington University in St. Louis, School of Law. Nickerson has authored several books, with his latest book, Negotiation as a Martial Art: Techniques to Master the Art of Human Exchange (Made for Success, July 2, 2021), named “Best New Release in Business Negotiations” by the Wall Street Journal. Learn more at cashnickerson.com.

What You Need to Start a Business from Home

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StrategyDriven Starting Your Business Article |Start a business from home|What You Need to Start a Business from HomeIn the modern world, more and more people are taking the option to launch a business from the comfort of their home. However, before you really get started, you need to make sure that you are set up for success. There are several crucial elements that can make all the difference here, and we will be focusing on some of them in a checklist to help you get started. Of course, all businesses are slightly different and are going to need different things, but we are going to speak in relatively general terms in the following blog post.

The Right Office

Your office will act as the nerve center of your business, so you need to do everything that you can to make sure that it is properly set up. Ideally, you will have an office with a closing door, but if this is simply not possible, you should try to find a quiet corner of the house where you are really and truly able to concentrate. You will need the right lighting, as well as soundproofing as much as possible. If you have other people living at home, you should try to set up a system of setting up some office hours to ensure that you are able to concentrate as much as possible. You also need to think about the office from a decorative point of view. For example, the color scheme and the little trinkets that you set up around the place can make a big difference in helping to boost your productivity levels.

The Best Equipment

There is plenty of equipment that is going to help you to run your business in the best way possible. To begin with, this means the basic things such as a desk and chair. However, you should also think about the technical aspects of your company that will make all the difference, including a good quality laptop, a residential internet service provider, headphones, a keyboard, mouse, printer, etc. You certainly do not want the equipment to be holding you back, but this also does mean that you necessarily have to spend a fortune, to begin with. Over time, you always have the option of investing more into your company as and when this is required.

A Strong Business Plan

If you do not have a clear plan in place for your business, it is a bit like you are scrabbling around in the dark without a clear sense of direction. For this reason, it is highly important that you get your business plan sorted out. As well as the general sense that you want your company to have, you should also go into further detail about the individual aspects of your business that are going to make all the difference, such as ensuring that you have some clear financial projections, as well as having done sufficient market research to work out exactly where you are going to pitch yourself in a potentially competitive marketplace.

A Winning Mentality

The next crucial aspect of significantly increasing your chances of success is ensuring that you have a winning mentality. If you fail to do this, it is all too easy to find yourself in a situation in which you are already defeated before you have even gotten properly started. To begin with, this means having a clear sense of discipline in working out when you are going to be working and how much time you expect to dedicate to what you are trying to achieve. Surrounding yourself with the right people can make all the difference in ensuring that you are able to continue picking yourself up when you are down. After all, the best businesses are not truly able to achieve success without experiencing some bumps in the road.

A Clear Sense of Routine

The next aspect of your business that can make all the difference is having a clear sense of routine. This means setting out exactly what you would like to achieve in the day that you have in front of you. Setting out regular to-do lists can certainly help in this regard. You should also clearly try to set some office hours during which you are able to work. If you do not make your company a clear priority, you can easily end up in a situation in which it starts to slip further and further down your priority list, and you are not able to give it the time and attention that it deserves.

All of these different elements can really make a big difference when it comes to starting a company from home. First of all, there is the office itself, which you need to set up in the right way. You may need to take a bit of time and experimentation before you get it properly right. Beyond this, there is also all the equipment that you will need for the successful running of your company. Think about the essentials to begin with, and you can always start to build up from here. Remember, there may well be times in which your company needs some reinvestment.

So far, we have only talked about the physical elements of the office environment that can make all the difference in the success or failure of your venture. However, beyond this, you are certainly going to need some things which are altogether more abstract. For example, you need to a business plan that you can follow. This does not have to remain fixed all the time. In fact, you may want to give it some updates and refreshes along the way. You also need to have the right mentality that is going to help you stand out from all of the competition that you have out there. Finally, you need to establish a clear routine that you are able to follow that will certainly help out when it comes to achieving everything that you would like to from your business, which could be a little or a lot.

How To Help Your Social Media Business Run More Efficiently

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StrategyDriven Managing Your Business Article |Social Media Business|How To Help Your Social Media Business Run More EfficientlySocial Media businesses are very fast-paced, things are always changing so quickly that you really need to be on the ball. With a lot of time spent monitoring the market, your accounts and what your clients get up to sometimes you struggle to do some of the time-consuming things. As time-consuming as they are, they are normally still pretty important. Here are some ways to help you run your social media business in a much more efficient and profitable way.

Use Something Everyone Can Access

When you have multiple clients, keeping their images and product shots on your computer can make it run slow, use up all your space and be really time-consuming sorting it out and finding what you want to use. If you use something like Dropbox this could really help. It is a way for you and your clients to share images, documents and anything else you need to do your job. It can be updated instantly and keeps the storage off your computer as well. You can have all the folders organised and can also just choose images when searching so you can find things in a timely manner.

Use A Scheduler For Posting

Posting on social media can be quite time-consuming in itself, editing the image, writing the caption, researching what hashtags are best, when is the best publication time and then putting it all together. If you use a scheduler for posting on social media you can get a lot more done in a shorter time period. If you dedicate an afternoon a week to schedule the next week or two’s posts you will find that things run a lot more smoothly and you don’t have to be checking things every day.

If You Can Do It Electronically Then Do It

Using paper for things can be quite wasteful and if you are waiting for something important like a contract to come through the post something that could take 5 minutes online can end up taking days. There are lots of different ways to send things securely so they can not be intercepted and also sign things online. If you look at how to electronically sign a pdf and add that into the client onboarding process things will be running smoother and can be moved along a lot quicker.

Hire Help When Needed

Social Media Managers can end up doing a lot of different jobs which all come under the same title, photographer, copywriter, research specialist, graphic designer and so much more. A lot of the time social media account managers don’t know how to do all of these or aren’t trained enough in certain areas. If you are able to delegate to someone who can do a great job and give you more time to do the things you are good at then it is a very worthy investment. It will help the business grow efficiently as well as show what an amazing company you are and what incredible things you do for your clients.