Small Business is the toughest industry to break into. If you were a betting man, you would never in a million years want to go into a small business when the odds for success in small business are so bad, that 70% of all small business fail in the first year. Let me be blunt, if you want to succeed in small business, only listen to those people who have built a small business in an industry they no nothing about and succeeded. These are the people who seriously know how to build a small business.I just happen to be one of those people – I am not a business coach – I offer no consulting on small business, just let me share with you my secret to building 4 small businesses from a three thousand dollar credit card.The first secret when building a small business is this, have the end in mind. When I first started in small business, I was like most business people, I was a technician (bit more than that, but this is how the E-myth would describe me) in the IT industry with the belief I could build a better computer training company than those around me. One thing I can tell you about this industry, stay out of it. It is tough and there is no money in it, well that’s not quite true, but there are far easier businesses to make serious money. In fact I married my wife and I decided I wanted to experiment on whether all business was as hard as the training industry or was it just computer training.My wife and I, after much coaxing agreed to setup a car cleaning and detailing business, we new nothing about the business and were simply doing it as an experiment. Two years on, we have a successful thriving business and we are about to Franchise and expand the business to over 10 cities in Australia.The key to building a successful small business is to have the end in mind and to know when you are going to exit the business. Most people when they start a small business simply believe they are going to have a business to make money, come home and do it better than their boss. If you are going to go into business for this reason, quit now, because your life is doomed.There is more to business than simply doing the technical work and this is what most new small business operators do not realize. When you are first thinking about starting a small business, imagine how it will look when you are finished. For example, what image will you have, what logo’s will you have, what marketing material will you be using, where will you be operating from, how many stores will you have, how many people will be working for you, what sort of profit will you be making and more so, how will you know that the business is complete.For example, let us say you wanted to start up a dog washing business. You saw in a market that there was a massive need for dog washing. How are you going to satisfy the market? How are you going to build your business? How are you going to clean the dogs? Are you going to build the business like other? When will you know that the business is finished?These are all the questions you must ask yourself. In fact, if you don’t ask yourself then you will find that your business may grow but without any focus. It will go so far and then become a huge noose around your neck. By knowing what the end will be, you then have a clear goal of what you want to achieve and you can then build the business based on that vision.Let me give you a really good example of this methodology. If you get a chance watch the movie, Concierge with Micheal J Fox. Micheal plays a concierge that has a vision of building a hotel. He first builds a model of the hotel and then sells the idea to a developer. As he says in the movie he knows every aspect of the hotel he has built.You as a small business owner must do exactly the same thing. Before you rush out and start your small business, you must know exactly what you are building know every aspect of it and how to build it. You must know every job, every role, every procedure and how it will work within your business.By creating your business in this way, you will learn very quickly what will work and what will not.Most people who want to start a small business will say that they don’t have enough money. If you have a clearly articulated vision and you can prove that your vision works, then there will always be someone out there prepared to back you. It may take a while to find someone to support you, but there are people out there who will. Just remember it took Walt Disney, 500 plus knock backs for Disneyland before he found that one group of people that would back him.If you truly want your vision to work, then you must be prepared to be relentless in your pursuit of success. Remember the first secret in small business success, is to build and develop your business with the end in mind.

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.