🎈GET THIS NOW: AUTOMATED INCOME MACHINE
Below are some scenarios when to take drastic steps in your real estate business:
1. Market collapse: If the market for properties collapses and cannot recover, it may be necessary to take drastic steps such as diversifying investments or closing the business.
2. Financial insolvency: If the business is financially insolvent and cannot recover, it may be necessary to take drastic steps such as selling assets or closing the business.
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Read also: 7 critical areas in real estate business
3. Regulatory non-compliance: If the business is not meeting regulatory requirements and cannot comply, it may be necessary to take drastic steps such as closing the business.
4. Severe economic downturn: If a severe economic downturn affects the business and cannot be mitigated, it may be necessary to take drastic steps such as reducing staff or closing the business.
5. Property damage: If property damage is severe and cannot be repaired, it may be necessary to take drastic steps such as demolishing and rebuilding.
6. Unresolvable disputes: If disputes with clients, partners, or contractors are unresolvable, it may be necessary to take drastic steps such as terminating contracts or seeking legal action.
7. Reputation crisis: If the business’s reputation is severely damaged and cannot be recovered, it may be necessary to take drastic steps such as rebranding or closing the business.
8. Technological disruption: If technological disruption affects the business and cannot be mitigated, it may be necessary to take drastic steps such as adopting new technologies or closing the business.
9. Environmental damage: If the business is causing significant environmental damage and cannot be mitigated, it may be necessary to take drastic steps such as closing the business.
10. Staffing crisis: If staffing levels are severely depleted and cannot be resolved, it may be necessary to take drastic steps such as automating processes or closing the business.
11. Unmanageable debt: If debt levels are unmanageable and cannot be paid, it may be necessary to take drastic steps such as filing for bankruptcy or closing the business.
12. Partnership or investment issues: If partnership or investment issues are unresolvable, it may be necessary to take drastic steps such as dissolving partnerships or seeking new investors.
Read also: The power of foresight in real estate investing
Note: Drastic steps should be taken only after careful consideration and exploration of alternative solutions.
🟣Dr Joseph Deji-Folutile
#josephdejifolutile
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🎈GET THIS NOW: AUTOMATED INCOME MACHINE
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