To a company, each land brokerage and small operator that I speak with nowadays is squeezing everything it can out of every penny they have—and with good reason. The work that has been such a blessing to us all over the years is pretty darned thin at the moment, without a lot of hope (unfortunately) for a quick turnaround. Cutting costs not only makes sense, it is necessary in order to keep the doors open. In other words, the alternative is not very appealing.
Whenever faced with a situation like this, expenditures are prioritized, whether overtly and methodically, or subconsciously. Regardless of how it is done, we all end up with a ‘bottom line’ category consisting of expenditures that are absolutely vital, not just for survival, but for positioning oneself to be able to react when that rare opportunity presents itself.
The former are common-sense—rent, utilities, insurance, etc. The business has to at least have a heartbeat if it is to conduct any commerce. The latter is the focus of this article. It is one thing to simply have a heartbeat. It is another to be able to jump on an opportunity and turn it into positive cash flow quickly. For this, you need your technical infrastructure to be not only in place, but healthy.
What do I mean by ‘technical infrastructure’? I’m talking about the necessary components of any modern operation, such as the performance and security of your network, your software, hardware, and telecommunications package, your data sharing and retention policies, and much more. While these things may seem mundane, having your act together (or not) can make the difference in getting and/or retaining a client.
Landman Trends provides IT consulting services so that you can be confident you are where you need to be when opportunity comes a-knockin’. Our consultants are not only extremely sharp and experienced, they know the industry, so are aware of and can relate to the issues unique to land brokerages and small operators. If you are already where you need to be, then congratulations. You are better prepared than your peers. If you are not sure, contact me at Bill.Justice@LandmanTrends.com or 337-347-9534 and we’ll talk about performing a technology audit, reviewing all aspects of your operation to find vulnerabilities, then proposing affordable options to address them. In most cases, we can be just as effective remotely as in person. It’s really simple, common sense, and now is the best time.
Watch for future articles addressing social media marketing, GIS services, bookkeeping services and more.