Being a successful businessperson, as the saying goes, is about “1 percent luck and 99 percent hard work.” Being passionate about your work also helps. This article discusses the secrets to being a successful businessperson and running a flourishing small business.ObjectiveHave a clear goal when it comes to your small business. Write down both short-term and long-term goals for your small business. Set a realistic date for the objectives to be achieved. This helps you focus on goals, rather than being tossed about in the competitive business world like a rudderless ship.Business PlanNo business, big or small, succeeds without a business plan. After you have decided what direction to steer your small business in, you need to plan how to get there. A business plan can go hand-in-hand with an objective date, with both helping you focus on the ultimate goal.One Step at a TimeOnce you have prepared your business plan, put it into action. Work on reaching your goal on a daily basis. Taking small steps at a time will help you get there while also allowing you to monitor your progress.Take Time Out from BusinessSome “me time” is also crucial if you don’t want to burn out early. Take small breaks from business and spend time indulging in a hobby or enjoying the company of family and friends. Learn meditation techniques to keep stress away, and exercise regularly to maintain good physical health.Pareto’s PrincipleKeep Pareto’s Principle in mind to enhance your efforts: 80 percent of the results are due to 20 percent of the causes. Instead of wasting time and resources on many issues, focus on the key aspects of your small business.ProductsThe success of your small business depends on the products you sell. Analyze your sales in order to discover which products are bestsellers and which ones are drains on the system. In general, about 30 percent of products bring in the greatest profits.Customer RelationsCustomer relationship management is an integral part of small business management. Identify potential long-term customers and those that will bring you the greatest profits. Focus on building relationships with them in order to enhance your business.AssociatesBuild sound relationships with your business associates, including suppliers, vendors, franchisees, and business partners. Maintain regular conversations with all of these people, so you are up-to-date on trends and other changing conditions.PassionPassion is the single most important factor in making your small business succeed. If you are passionate about what you do, you will be successful in your small business, since you will be able to put in the requisite work without feeling stressed out and you will see extra work as necessary to achieving your goal.The factors mentioned above are the secrets of success for many small businesses. With passion, dedication, foresight, sound planning and relationship maintenance, you can make your small business a winner in a very short time. If you think you need help in turning your small business into a success, you can hire the services of a professional small business advisor. Alternatively, you can use software for helping you run small businesses.

For many reasons, some, economic, while others, related to the pandemic – related, so – called, fatigue, etc, home prices, in most areas, have gone up, at, or, near, record amounts! Because of the prolonged period of artificially – created, low – interest rates, mortgage rates, have been at historic lows! Since, for most home buyers, using financing is essential to affording a purchase, when a low rate, causes cheap money, and, thus, the ability to afford more home – for – the – buck, prices usually rise! It permits qualified buyers to qualify for more money/ loan, because the ratio of monthly mortgage, to overall income, is artificially – reduced! How long will this trend continue, will it become the new – normal, will previous trends/ cycles return, and how will pricing be affected, in the immediate, intermediate, and longer – run, are, all factors, to consider! With, that in mind, this article will attempt to, briefly, consider, examine, review, and discuss, some possibilities, to consider, and understand.

1. Short – term: Since, the Federal Reserve Bank, announced, they planned to raise rates, three times in 2022 (of course, this was before the potential implications, and ramifications, from the Omicron variant), many feel pressure, to act quickly, to take advantage of today’s low rates, before they go up! Three increases will probably translate to, at least, a 0.75% higher rate, which will translate, for most mortgages, to hundreds of extra dollars, per month. Some things to consider, and pay attention to, is, this rate of increased home prices, will, probably, not continue, especially, at such a large degree! How longer one, expects to keep a specific house, is, one issue, to consider, thoroughly, and wisely, before proceeding!

2. Intermediate – term: Although, many believe, to – know, the precise timing of any projected rate – hike, is uncertain! The Fed has changed, and/ or, altered its strategies and approaches, in the past, What the intermediate – term, may bring, including potential inflationary pressures, how long the economic conditions, and unknown factors, related to the pandemic, etc, will determine, largely, what this phase, may bring! In addition, the attitude, and perceptions of buyers, and their confidence, etc, largely impact this real estate market!

3. Longer – term: In the longer – run, will things, restore, to what we have seen, so often, in the past, which is, alternating cycles, between, Sellers, Buyers, and Neutral Markets? The possibilities, include: a continued large escalation; a more – gradual, but persistent – one; some leveling; and/ or, will we see, at least, in certain areas, some sort of falling prices, for a period.