Planning & Management in Real Estate

HOW MUCH TIME DO WE GIVE TO PLAN OUR WORK?

Say if we were to go on a vacation for 10 days, we plan 30-45 days, solving all the where, why, when, and how questions.

But how much of that time do we spend planning on your Work/lifetime?

Do we ask ourselves enough what will I do next month, what do I want to achieve in the next year, what will be my future etc?

It is good to have a plan, but more important to have a purpose. If you have a purpose then most plans will fall into place. Planning should start with the smallest of steps.

Example 1. Let’s say a mother and daughter come to buy clothes in a retail shop. Every time the daughter selects a dress, she asks the mother to nod which leads to her decision to buy. So, understand the person you are selling to and need to convince for the sale to happen.

Example 2. Let’s say a customer comes into your store to buy an expensive & luxurious pen. Understand what’s important to the person who’s buying. Why does he even want to buy it? Does he feel a status or pride in owning an expensive pen? This should be a dialogue between the salesman and the customer. Ask him to hold the expensive pen and then tell him how his life will be better with this expensive pen in his hand. This is how luxury sells. In the book ART OF WAR, it reads, the war is won before the war, hence planning is important.

Change Management: No matter how well your project is planned and defined, there will always be requests to change something before it is delivered. The reason is that the business doesn’t stand still while the project is under development. Changing the requirements of the customer will trigger the need for changes to the product being built. Such changes are critical to the project in most cases. If the product isn’t altered to reflect the business needs the project will fail. That is why Change Management/Adaptability is required throughout the lifespan of the project. The longer the project goes on, the more the business changes and the more the product must change to support the business. A common error that occurs is the tendency to treat all changes in the same way.

Another common mistake is to have the wrong people make decisions about changes. A good change management plan should accommodate any change likely to occur on your project. Since no one can predict the number of change requests or the complexity of those changes for the project phase, it is advisable to set buffers in the project schedule.

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