MIKE OPYD
REAL-TOR ADVICE

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YOUR $5.00 COFFEE IS COSTING YOU BUSINESS

What could you do with an extra $1,700 a year? If you spend $5.00 a day on some fancy coffee you are throwing away an opportunity to use that money to market yourself and create more business.

Too often I see agents walking around with an expensive cup of coffee without any thought to it. They walk into Starbucks and spend $5.00 or more on some “coffee” with a long name and they do this day after day. What they are not realizing is that money they are spending is being completely wasted. What they don’t understand is that grande triple soy latte is literally costing them business. Every dollar they spend on a cup is a lost opportunity to use that money to market themselves.

I know what you’re thinking “it’s just a cup of coffee, how much damage can they really be doing?” Well let me break it down for you.

Here is a breakdown of what that $5.00 a day fancy coffee habit really costs:

$5.00 a day = $35/week

$35 a week = $140/month

$140 a month = $1,680/year

$1,700 A YEAR ON FRICKEN COFFEE!!!!!

WHAT CAN YOU DO WITH AN EXTRA $1,700?

Agents are always complaining about how they don’t have enough business or aren’t doing enough deals. It all comes down to marketing. Agents should always be thinking about their marketing budget and make sure they are allocating as much as they possibly can to it. If you cut out the coffee habit, you can add to your marketing budget and increase your business.

Here is what you can do with that extra cash

1) Send postcards to your database or letters to FSBO’s or expired listings

2) Farm a building or area

3) Run Facebook/Instagram ads

4) Hire a videographer to record you and use this for your YouTube channel and to market yourself on social media

5) Get new head shots and have them take other pics or you to post on social media

6) Get yourself a CRM to manage your database and clients

7) Educate yourself! Take classes, buy books, sign up for webinars, attend seminars

8) Hire a coach

9) Partner with a pizza company and put your flyer on the pizza boxes

I can keep going but you get the point. The options are endless. $1,700 is a lot of money. Money that can be spent a lot more wisely. Money that if you put back into your business you will be able to build it and your brand a lot faster than if you don’t.

I PRACTICE WHAT I PREACH

At the end of every year, I always analyze my expenses to see if I spent anywhere stupidly and if there is anything that I can cut out to save money or allocate to other areas. A few years ago I noticed I was spending WAAAAAAAYYYYYY too much money at Starbucks. Instead of going to the office (where parking was crazy expensive) I thought it would be more cost affective and better for me to work from Starbucks instead. Unfortunately, I didn’t realize that every time I was there I bought coffee as soon as I walked in. Even though I drink black coffee every one cost me $2.50. That equated to around $900 I wasted on coffee that year. $900 that I could have spent on ANYTHING else to help grow my business.

So I made a pact with myself that I would only buy one Starbucks a week and since then that is all I have done. This still works out to $120 a year in coffee but it is a heck of a lot better than $900. Honestly, this was not easy for me. I LOVE COFFEE. I MEAN, I REALLY LOVE COFFEE!!! And I really love Starbucks coffee. But growing my business is a lot more important to me than drinking those wonderful beans. Plus I started bringing coffee from home which helped me and my coffee addiction and is a lot cheaper still.

So before you order that next grande triple soy latte, ask yourself, what more important, that expensive cup of coffee or growing your business?

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