Commentary:  How to Effectively Track Good Ideas

This week’s commentary should be rather short.  Each week I attempt to share something here that could benefit my business partners.  In addition, we all are hearing or reading about ideas all week long.  I just want to let you know what I do with the ideas versus what I see many folks do with them.

My approach is very simple.  If I hear of a good idea, then (surprise) I log it into a spreadsheet called ideas.  In that spreadsheet, I take notes as to how I might implement the idea; and then I also prioritize it along with the benefits that I expect from using it.  I also have a reminder in my other daily spreadsheet reminders to review the idea spreadsheet from time to time.  This is my way of not losing the idea until I decide to either implement it or close it down.

In contrast, I see many others like an idea; and then simply try to remember it.  The chances of taking action on such an idea is rather remote.  As most of us have a lot going on in our lives (both professionally and personally), it becomes extremely difficult to remember all the details.  It is also why we all know those that continually make the same mistakes over and over.  They are always in overwhelm mode.

This is not rocket science.  Being organized allows one to let things go until they need attention.  Being disorganized is like a disease that continually feeds on itself.  The sad part is it takes a lot of effort to heal the disease as it typically has existed for decades.

That is it for this week.  As always, I welcome any of your strategic financing questions.

Articles of Interest:

The Orange County Register shared “Some advice in this crazy commercial real estate market.”  Although this was written for Orange County, the advice seems appropriate for the SF Bay Area as well.

The SJ Mercury News reported “Bay Area housing pressures continue: Rents climb again.”

Forbes reported “It’s Not Turnkey, It’s Real Estate Investing: Top 5 Questions To Ask Your Provider.” Good advice on buying investment property that is considered Turnkey.

CNBC reported “Toronto, London and these other major housing markets are in a risky bubble, UBS says.”  I saw several reviews of the UBS report with many stating San Francisco was way overvalued.  Of note, SF is like an island with growth attained by going vertical.  The limited supply (combined with pent up demand) has driven prices upward.