The world of valuations, like everything else, is rapidly changing and evolving. Many of us find it exhausting to try to keep up. The problem is that we are trying to keep doing things the way we’ve always done them, completely ignoring the fact that everyone else is advancing, using new technology and methods. It’s like trying to compete in a NASCAR race with a beat-up old ’98 Camry. We try so hard to stick to what we already know that we’re being beat by someone with better, updated equipment. In addition, we have many companies trying to sell us technology that they assure us will help, but with so many options, how do you ever decide what to do?
I talked to my good friend, Mary Haldane, the founder (now retired ) of ANOW, about this, and he offers some good advice. He recommends first deciding what specific thing you plan on using technology to help with. Just like when you prepare to hire someone, you need to decide what specific tasks will be done using your new technology. Just saying “I want to make more money,” is not enough. If you’re going to be using it to help you organize, what specifically will you be organizing? If you’re planning on using it to help with inspections, what specific aspect of inspections will you be using it for? Answering these kinds of questions will help you narrow down what options will actually be of use to you.
Next, take time to track your work week, writing down the tasks you do, when you do them, and how long it takes to accomplish them. You may find that a task you were contemplating using technology for is something you actually only do once a week for 15 minutes and wouldn’t be worth the trouble. However, you may also find that there’s a lot more time to be saved than you initially thought instead. Taking the time to do this will help you determine the relevance of a specific kind of technology to you and your business.
Finally, remember that if you choose not to improve your business and advance with the times, someone else will. Later on you may find that your business has declined, as customers have gone to other people who are able to work more efficiently and effectively in our increasingly integrated world. Ultimately, the call is one that only you can make. Technology isn’t the enemy; it can be an incredible tool to help you work faster and smarter. There’s no need to be confused and frustrated. Take charge, and find out what technology can do for you in your business!
Check out The Appraiser Coach Podcast for more info on this topic:
750 Technology for the Changing World of Valuation VIDEO AUDIO
