Leon and I both have close associations with Wal-Mart. Wal-Mart was one of my favorite corporate consulting clients. I provided Wal-Mart with a good deal of organizational performance and financial consulting for executive management for many years.
Although Wal-Mart has gone through some major changes in the past few years, it still is a shining example of a well-run, profitable firm. With annual revenues of over $469 billion, Wal‐Mart must be doing something right.
Here are three rules for success formulated by founder Sam Walton:
1—Commit to your business. You have to believe in it more than anybody else. You have to have passion. Love your work and do it the best you can every day.
2—Exceed your customers’ expectations. Give them what they want. Then give them a little more.
3—Control your expenses better than your competition. You can survive a lot of mistakes if you’re efficient.
These same ‘rules’ apply to an appraiser’s professional practice.
1- You must be committed to your appraisal profession — That means not only being an expert in your specialty, but being an expert in marketing, selling, and delivering your services and products.
2- Client and customer service is the key to repeat and expanded business opportunities. A very high percentage of a professional appraiser’s business comes from client referrals and repeat business from core clients. Deliver your best service every time on every engagement.
3- You are your own CFO — That means you must watch your expenses. Remember; if you have a choice between selling a dollar or cutting a dollar expense, your bottom line always increases at a greater percentage, if you cut that dollar.
Yes, It’s a business. Successful appraisers treat it like one. And let’s face it — It’s way more fun running a profitable business than a losing one.
Learn more at: www.AppraiserSuccess.com
Stay well & happy!