Subject: Direction to take in your business schemes.
The business option to consider.
It is important to prioritize all the available ventures before making the final decision. In our case, Cathy needs to make a concrete decision on whether to stick with the ornaments job, move into real estate appraiser or do both.
- In her previous role, she claimed that the situation was too demanding since her twin kids were in nursery school. She had to work all the time and had no time for her kids and herself. Cathy misses being around adults. She also wishes to make more money.
- However, there are pros and cons to every decision she makes. If she decides to continue with the ornaments, she will enjoy making ornaments since the pace of the decorations is predictable. She loves the creativity it requires, can get seasonal help from her husband, and also, she can request for orders when she has some free time. On the other hand, she won’t have much contact with adults, and she won’t make more money than she has been for the past three years. If she becomes a residential real estate appraiser, she might work all the time. At the same time, she would be in frequent contact with other adults. If she adopts both, she will have to hire someone to help her.
- Real estate option has several challenges that Cathy needs to consider before fully employing the decision. Despite the challenges discussed earlier, the main problem is competition from other real estate agents. Although she has experience from her former real estate job, she should know that technology grows daily, and most companies use advanced technology to market themselves. She should, therefore, find technological ways to advertise her new job.
4.Before starting any business, she should consider her availability, startup capital, and the amount of time she will take to recover her investments before making any profits.
- For the last three years, Cathy has been producing gold ornaments. In November, Cathy and her husband pack and ship ornaments out of their underground store. Previous year sales were double those of the year before, which implies a positive trend.In the future, these sales would increase if Cathy finds offers of more orders and design work, she supplies more to her supplier on the east, she advertises her ornaments and processes all orders and also if she increases the November shipments.
- According to Cathy’s estimates, real views can earn 40000 dollars before expenditures. For better estimates, Cathy should also have estimated her expenses to avoid losses. However, the earnings are not always predictable, which makes it difficult to predict the trend component of the business.
- Real estate is too much involving compared to the ornament business. It could be tedious for her to take both jobs at the same time. I would advise her to train someone else on making the ornaments, and then she runs both businesses at the same time. By so doing, she won’t lose her supplier on the east coast, and also her revenue will be more compared to the previous years.
- She will have her main frustrations met if she maintains the ornaments business as she will be making more money, and also, she will get to socialize with more adults.
- From her experience at the former real estate job, she should ensure she meets all the requirements of a residual real estate appraiser. She should know how to help people make the right decisions in every judgment she makes, for instance, during a divorce or bankruptcy. She should also be able to deal with challenges that come her way, which includes environmental changes to technological advancements.
Consequently, I recommend Cathy to get someone she can trust, train them in the ornament job, and immediately absorb them into the business. after which she can now proceed to the real estate business.
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