Wednesday, September 16, 2009

Before spending money,determine if it is a good business expense and think of the potential return.

I was talking with a colleague,who meets friends every so often. They recently ate in an area where you pay for parking. A friend suggested my colleague invite them his way to avoid paying for parking. Bless my colleague's heart, it was worth the $X he said and he was happy to go. He did exactly what I do.

I've invested about $100 in parking in the last year for networking events,lunch in the city with friends,meeting clients to work on sales listings and sales contracts,presenting and receiving offers,and for going to properties for inspections and appraisals. Sure, I would rather meet at a place closer to me,even perhaps in a less costly area,but I don't want clients and associates to perceive that I don't have the funding and/or don't think it is a good expense. At the same time, I will certainly not be shy to say it was great meeting you down here,why don't we meet next time,so you can see my neck of the woods.

B.T.W. my colleague got a referral from 1 of them ,which will pay the fee back 100 times.

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