Utah Real Estate Investors Association

Working remotely is more prevalent in work culture than ever before.

The rise of coworking spaces like WeWork and PlexPod offer alternative, fun and modern ways to work alongside, and potentially collaborate with, other individuals in their own respective ventures.

In addition, many business owners prefer working from the comfort of home or local coffee shops.

With these options, I pose the question: Is purchasing your own space for your own business worth it anymore?

Well, one good reason is that your customers/clients will associate you and your space together. The more stable the location, the more comfortable they will be from meeting to meeting.

Oh, but I'm just getting started. I have nine more great reasons for you today...

9 (More) Reasons You Should Own Your Business' Building

"Don't wait to buy real estate. Buy real estate and wait." - Will Rogers

2. You can personalize your work environment.
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"Mystification is simple; clarity is the hardest thing of all." -Julian Barnes

The first thing we'll address is pricing. Why? Because it's the first thing a prospective client wants to know. When they ask (and they will ask) about your price, the last thing you want to do is beat around the bush.

Prospects will know when you're avoiding the price of your offering.

Set your price based on the value of your offering. And when you do . . . stand your ground with confidence. You know what your offering is worth, and you shouldn't have to fluctuate the price on every sale just to make it work. This is obviously easier said than done, but it's incredibly powerful in practice.

Ways to Pay

Although this is another tip on price, it's just as important.

Cell phones are expensive. And e
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"Don't be afraid to give up the good to go for the great." -John D. Rockefeller

We're officially over halfway through 2019.

And as you reflect on the first half of the year, it's important to learn from wins AND losses moving forward.

In terms of ways we can help ... your finances and books are what we do best. But you're the only one who can take your Salt Lake County business and secure clients, deliver value, and repeat the process year-in and year-out.   This is part of what we mean by "BE THE ROAR not the echo!"

I see my role in your business as more than merely financial, though. I'd like to offer you some coaching, and a little "halftime pep talk" so that when we close the books on 2019, we show a victory, rather than a loss.

So, I'll start here: Have you been thinking too small?

Most Salt Lake County business owners don't ask themselves that question nearly e
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"Make a customer, not a sale." -Katherine Barchetti

Think about some of the businesses you go to often for daily, monthly and yearly help. What keeps you going back to them? Customer service? Random gifts and perks? Clear, consistent communication? All of the above?

Only you know the answer to those kinds of questions but keep them in mind as I offer a few ways you can turn short-term sales into long-term, repeat customers.

1. Offer new products or services.
2. Give advance notice of price increases and fees (especially if existing customers can avoid them through a response).
3. Provide special discounts.
4. Create meaningful content surrounding your service or product.
5. Recognize top customers via email or social media.
6. Announce seasonal sales.

Even if you focus on just a couple of these over the next few weeks, I guarantee current customers will see the difference. You might be doing some of these things already, but all of us have the option each day: "Will I make my business better or worse today?" Taking steps toward client satisfaction is always a move for the better.

ALSO, you cannot assume current customers are tired of hearing your story or other ways you're just trying to help.

Most of that, in business, is a mental game. Custom
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"If you don't value your time, neither will others. Stop giving away your time and talents. Value what you know and start charging for it." -Kim Garst

Depending on your business' industry, it can be extremely hard to break through to customers.

But even when price-shopping, consumers will inevitably look to: what makes you different.

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"No one is useless in this world who lightens the burdens of another." -Charles Dickens

A referral network is something that forms quite naturally around some people, especially those who pursue that attitude of giving I mentioned above.

But you can wor
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"When we give cheerfully and accept gratefully, everyone is blessed." -Maya Angelou

Now, before we examine three components to consider when making a compensation plan, I want you to know there are serious tax implications in regard to each of these areas.

Let me be clear: if your business needs any help assessing the state of your employee compensation methods, and the ensuing tax implications, please give me a call. 

I'd love to schedule a meeting and discuss how your business can help employees while staying within IRS guidelines.

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"No one has ever become poor by giving." -Anne Frank

Let's face it -- most people will not instantly welcome "marketing" with open arms. Your prospects are busy, and they don't (usually) spend their time thinking about you and your products or services. So, business owners need to learn how to market their businesses ... without making it feel like they're marketing their business too hard.

First, you need to be consistent.
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"Not until the pain of the same is greater than the pain of change will you embrace change." -Dave Ramsey

It's a common problem, and I've talked about it before: customers are asking you for lines of credit, or "special deals" when it comes to your AR. So you ask yourself: should I extend credit to my customers?

My recommendation? Don't do it. Tell them you accept credit cards.

The biggest problem about giving credit is that you end up spending more time collecting money. Time that could be more profitably used doing most anything else.

The second biggest prob
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"Having a child is like getting a tattoo ... on your face. You better be committed." -Elizabeth Gilbert

Because raising children truly does "take a village", know that I'd love to help walk you through some of these steps in greater detail. Everybody's childcare costs look different, and together we can plan for child-based tax breaks. Don't hesitate to give me a call today. (801) 278-2700

Child Tax Credit (CTC)

Over the last few months, we've spent some time discussing the Tax Cuts and Jobs Act (TCJA), and although some of its outcomes have altered taxpayers' refunds in a negative way, there are indeed some perks. In this case, the signed law meant a CTC
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