Now we all understand the importance of location when it comes to real estate.  Let’s take a look at some of the characteristics that make location such an important factor and what it means for you in creating even more success.

The first factor is Scarcity.  They’re not making any more land.  In fact, as the coast lines erode, we could even say that there is less land.  And scarcity equals value.  The more that availability is limited, the more valuable it is.  How does this relate you?  One thing to keep in mind is to not make yourself too available.  If you call someone to set up an appointment and they tell you that they’re wide open for the next few weeks and that anytime works, it makes you wonder why they’re so available and you begin to question their value.

Another factor is Convenience.  Depending on where you want to live, proximity to certain elements such as grocery stories, downtown areas, theaters, airports, etc, can be important.  The further we are from these resources, the longer it takes to use them which costs us our most valuable resource: time.  One way to use this is to think about ways that you can make your work environment more convenient.  Is there anything you’re doing consistently that is costing you time.  This will make your location more supportive and enable you to produce results more quickly.  If you do something for 5 minutes every hour, such as look through papers trying to find documents, that’s 3.3 hours a week, 165 hours a year, or 4 forty-hour work weeks.  What can you do with an extra 4 weeks a year?

Lastly, the Environment itself is key factor in determining the value of a location.  This is the ambience, the feeling you get when you are at the home.  The main question you need to ask yourself is when you walk into your office, do you feel energized?  If you do, then your environment supports you.  If not, you need to look around and find out what the problem is.  Is it cluttered, is it not organized the way you want it, what’s missing that you need, or what’s present that you want to get rid of.  Take a look and see what you need to do.  Do it today!

John Ryan

Host of Key Conversations for Leaders Podcast, Executive Coach, Consultant, and Trainer

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