6 . Not Backing Up Data
After all the effort you have gone into to digitize your business and learn how everything works , you are currently sitting tight and have no care in the world . This is a dangerous mindset to have . Digitization of business data makes taking care of your real estate investments much easier . But what happens when your systems are hacked or your servers fail ?
You will need to resort to your backups , of course .
So , the question is : do you back up data ? How often do you do it ? What are you waiting for ? You need to back up your data digitally and manually . You can back up your real estate business data in the cloud or a second business server . You should also keep your paper records as a backup just in case your entire digital system fails completely .
You can set up your digital system to back up data automatically after a set period . That , in addition to keeping a paper record of your business transactions , will be helpful should your business ever need an audit or should your systems fail .
7 . Trying To Do It All
Nobody understands your real estate business better than you do . You have put blood , sweat , and tears into running it and making it a success . For that reason , you are having a hard time ceding the control of your business to someone else . So you try to do it all . And you are failing — miserably .
“ Pride comes before a fall .” How often have you heard that statement ?
Is it more important for you to be in control or to be successful ? ]
Well then , it is time for you to try to keep up with every aspect of your business . While it is wise for you to keep up with your business finances , it does not hurt to hire a bookkeeper to help you out . Not everyone has a head for numbers , and it is okay to hire those that do .
And when you do hire a bookkeeper to help you with your business finances , supervise but do not micromanage . Take the time to discuss what you want that professional to do , and then provide him or her with the chance to do the assigned job properly .
Business bookkeeping is part and parcel of running a real estate business . In order for you to make money , what comes in must be more than what goes out . And in order to make good profits , you have to understand what goes on in your business , right ? So , it all comes a full circle . What this implies is that you must know what goes on in your business on the financial front . Be sure to hire a professional bookkeeper to help you out if you cannot manage your business finances . But even as you do , make work easier on yourself by avoiding the common bookkeeping mistakes that business owners tend to make . It will make your business operations much more efficient and profitable .
MEET LEON MCKENZIE
CoFounder of US Probate Leads
Image by Photo Mix from Pixabay
Leon McKenzie cofounded US Probate Leads more than 15 years ago . Leon ’ s team processes probate data from counties across the country and makes it available to individual subscribers . For more information , visit :
www . usprobateleads . com
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