As we are closing out 2017 and looking forward to 2018 I had a few topics I wanted to discuss. As business leaders are we supposed to just look forward one year or should we be looking out three to five years or more? I am taking a closer look at myself (results) and gain a better understanding of the note industry. What will the Note Industry look like in ten to fifteen years? Will tapes go away, what impact will automation play for the industry, and what will the real estate market look like? The biggest challenge I have in my business is from a due diligence perspective (very little automation). And that seems to be a universal response when I speak to other fellow note investors. Why are we in an industry that we spend many hours a day looking at Excel spreadsheets? Is/can there be a better way to perform due diligence? Are these hours taking us away from truly running our businesses? I would like to talk about these items and more within the note industry that we could actually improve upon, and make our jobs more efficient, less time-consuming, and allow us to spend more time with family and friends.
Questions to you:
- What tasks slow you down on a daily basis and consume most of your time?
- If you had $100,000 how would you invest these funds to make you/company more efficient?
- The number one task that slows me down daily is performing due diligence on tapes. I do have small pieces of automation that I utilize, but I do not have a tool/tools that could perform this task for me (Keeping my eyes open for new automation). The other task that slowed me down was marketing. I was using just a basic e-mail service provider, but in the last several months I took a leap of faith and started utilizing Infusionsoft. As I learn more each day I have become more efficient daily. I will let you know how things turn out.
- I would use a major portion of said funds to create automation through AI. The focus would be on due diligence and automating the process of finding assets via tapes. The other portion would be used for marketing and expanding our investor database.