The Stage of Business – Introducing Incidental Risk and the Critical Path

First of all, what is considered a risk? If we are going to identify the risks we will need to know what to look for. I have heard risk defined as the effect of uncertainty on objectives. That definition is all right but a bit too vague. To effectively identify risks for a particular project or initiative, I think you have to be a bit more specific to the objective.

As risk relates to the Project Streamâ„¢, best practices would dictate that each level is completed before the next level begins. As indicated in the diagram above, overlapping levels (as shown) will result in incidental risk and compromised results. This is a common occurrence and typically happens when levels stretch out and do not have a disciplined schedule for milestone start and completion.

“Delays have dangerous ends.” – William Shakespeare

When the project start and finish date are fixed, milestone durations should be planned with contingency durations. Otherwise any expansion of a milestone duration may compromise the adjacent milestones or possibly even the overall project risk.

Risk management scheduling is a critical part of project planning. The more time you spend crafting the schedule, the better chance you will have of project success. If you plan it well, you will be able to use the process schedule to effectively manage the project scope, schedule and budget.

“True nobility is exempt from fear.” – William Shakespeare

Make a Plan, Have a Plan. You will be glad you did!

Don’t be afraid to look to the past when crafting your plan for the future.

Advantages of the Online Auction Business Model

Online auctions have become a popular way for many people to make money. The online auction business model includes one party that sells products and services, while another party bids to purchase them.

There a number of advantages of this online auction business model. A few of them are listed below.

No geographical limitations: This is a strength of the online auction business model that is inherent by the fact that it is “online.” The Internet allows sellers and bidders to participate in online auctions from anywhere in the world. A seller in Japan can put up a doll on an online auction site that can be bid on by bidders that reside in the U.S. The “cost” of participating in an auction is essentially zero. This advantage also increases the number of products and services that can be listed, leading to an increased number of sellers and bidders.

No time constraints: Items can be posted on auction sites at any time of the day, and bids can be made on items any time of the day as well. And since items are listed for usually one to 10 days, potential bidders have a lot of time to ponder their bid.

Many bidders: Since online auctions allow for the potential to find a wide variety of items at lower-than-retail prices, it draws many consumers to try their hand at getting a bargain through an online auction. The ease of the bidding process also attracts consumers, who can bid from their computers in the comfort of their own home.

Many sellers: On the other hand, the potential to sell items at higher-than-retail prices also draws many sellers. Selling their items through online auctions also reduces their selling costs, and is also very simple and easy to do.

Joy of winning: Part of the fun pertaining to the entire bidding process is seeing whether or not you will “win” the auction and get the desired item. This aspect of the online auction process attracts many bidders who find the win just as rewarding as the

Career Tips in Commercial Real Estate Brokerage

The commercial real estate sales industry can be very rewarding to brokers and agents. That being said it requires focus and consistent effort if you are to reap real rewards and become a top agent.

Many salespeople join the industry with the hope that ‘things just start to happen’ as part of working for an agency or brokerage; unfortunately those salespeople do not last very long at all. After 6 months or so the reality of the market ‘kicks in’ with few if any commissions coming in.

It takes about 3 months of real effort to change your personal market conditions and your income. It is not a stop and start process. Things should happen to a plan and that will be a plan that you implement every day.

The agency or brokerage that you work for has little to do with the listings and clients that you create or serve. When you start working in the industry, start working hard on your commitment to personal success and progress. You will need a business plan or something similar that keeps you on task.

So what do you need to make the industry work for you? Try these for starters:

  • A good database that you keep up to date in all respects
  • A list of prospects and clients in your database that you can talk to in a continual way
  • Market knowledge and skills relating to your specialist property type
  • Sound and established negotiation skills for listing, inspections, marketing and negotiation
  • Excellent documentation skills relating to your property type, contracts, leases, and any other supplementary documentation
  • Personal drive and a passion for prospecting and selling
  • Excellent marketing skills in both direct, and indirect marketing
  • Communication skills that are advanced for the complexities of property sale, leasing, negotiating and closing.
  • Good time management and documentation processes that allow you to start the day early with momentum and results.
  • Targets and goals that you can track.
  • Exclusive listings that you control for your clients.
  • Referral opportunities with established clients and prospects.
  • Clients that trust you and your skills to help them resolve property problems.

To give momentum to these things it requires deliberate effort. Every agent or broker has plenty of opportunity to rise up in the ranks of the market. The key to making it happen is ‘personal activity and planning’.

It should always be remembered that the commercial real estate industry and market is under change. As brokers and agents we should adjust to market conditions and not wait for the market to come to us.

Benefits of Free Classified Ads

Of late there has been a much debate on relevance and usefulness of Free Classified Ads from the business perspective. Free classified ads are a sort of boon for small businesses who cannot afford to pump up large bucks into other forms of paid advertising.

Hands down, a classified ad is the cheapest way to spread the word about your company in order to connect with your potential audience. On the whole, below are some general benefits of using classified sites for advertising.

So, are they really useful? Yes, they are useful. But there is a catch; it depends on your requirement.

Time and Money:

While you can post your ad for free in many sites, the cost to access the popular classifieds sites which attract traffic is not costly too; in fact, it is nothing in comparison to the ROI it entails. Moreover, posting an ad is a simple process that doesn’t demand a lot of time. A simple ad copy is all you need.

Simple and Easy:

While other forms of internet marketing techniques demand a dedicated time and effort, classifieds posting is as simple and easy it can be. Preparing an ad and posting it could be a manual job,but there are sites which automates this process for you; Some of them even help you in preparing a better ad copy specific to each type of posting.

Reachability:

Targeting a good number of sites carefully selected depending on the context of the service, an online business can enjoy a tremendous reachability through classifieds. True that you need a good quality of sites to achieve that, as we have discussed before, access to such sites is cheap too.

High Return on investment:

Not only because it is very affordable but also due to its inherent nature of getting the word out a quality pace, Classified ads offer one of highest return on investment among other internet marketing strategies.

As we have said at the start of this post, though Classified ads seem like the best choice among all its counterparts, but it depends on the requirement of the user. While each method has its own set of positives and negatives and is suitable for particular type of strategy,we can say that Classified ads are the safest possible option to get a considerable exposure.

Most people who visit a classified site are search of the services, so as a service provider it is the best place to feature your advert. All you have to do is choose a good site that attract a lot of traffic and write an attractive ad copy.