Sunday, November 01, 2009

Easter in December

Last week, actually about 10 days ago I went shopping. I was looking for a gift for my friend's daughter's birthday. I walked into this very stylish downtown mall and was greeted by... Christmas music!

Throughout the shops you could hear the jing-jing-jingling of the coming festive season. For a second, I was lost in thought thinking"Wow where did November go?"
only to be brought back to reality when I spotted all the Halloween decorations.

That's right, Xmas music - Halloween decorations.

It pays to be prepared. I read an article today about the increasing rate of business bankruptcies in the USA. Many commercial leases were being broken as the companies went under and were unable to fulfill their contracts. But at the same time there are temporary businesses looking for quick profits during the holiday booms. One such costume rental company in Edmonton is open for 2 weeks before Halloween and for a few days after.

Savvy commercial landlords offered short term leases to opportunistic business folk who only intend on riding the seasonal wave. What a sweet marriage for the two businesses. Many seasonal companies have trouble finding space to lease for the short term and these landlords were able to solve their problems and at the same time recoup some loses.

Here are the two lessons that I gleaned from my trip to the mall.

#1 It pays to prepare. Work your plan solidly. If that means buying an investment property, get out there and start your research now. The added knowledge will give you power when you are ready to buy.

#2 Look for solutions in would-be problems. The commercial property owners weren't happy about losing leases to bankrupt clients - but they looked at the challenge and rose to the occasion by meeting new client's needs.

In a world that is always two holidays ahead, make sure your business solutions aren't Easter in December.

"Take time to deliberate; but when the time for action arrives, stop thinking and go in." Napoleon Bonaparte I appreciate all your calls and emails. I'm looking forward to helping you put together your next deal.

Thank You,
Todd and Danielle Millar

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