Dangers in Property Management
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I was reading an article in Priority magazine titled, Giving Away The Store. Basically, it’s an article about if your services or products are out of date then how can you keep up. They cited the story about how Wal-Mart announced that after 46 years they would be discontinuing their layaway service. It was costing Wal-Mart precious storage space and time to effectively manage payments. Priority magazine states that, “many businesses, both big and small, often fall victim to a kind of business version of Newton’s First Law: A service or product line on sale tends to stay on sale, no matter what the customer wants. But succumbing to this inertia, either by ignoring flagging sales or by not being attentive to consumers’ evolving habits, can end costing your small business time, energy, and resources.”
When’s the last time you did any updating of your property? What do your roads and roofs look like? Do you have security as good as your competitor or better? What does your curb appeal say about your business? Watch technology and listen to what your customers are saying about your business. Put comment cards out to get feedback from your clients. We all want to try and keep our businesses floating, just don’t let them dip below the water line.
Written by Natalie Thomas, TQAS executive and business blog writer.
Thanks for reading our property management , where we explore and property management trends in the property management industry.
Disclamer: This entry is intended to promote our partner StorageMart and some or all participants received compensation.
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