Well, well, well...can it be eight weeks, two whole months since I've had something to contribute? By golly so it has...last post to Appraisal Scoop was Sept 10th. More than two months actually. That last post chronicled the down market we are in, the use of good accounting software to constantly analyze your business, and another view of an "insulting appraisal request".
I've been applying those general themes in MY business for the last two months. Hopefully you've been doing the same.
I'm beginning to see signs that the liquidity squeeze is easing... somewhat... but I now expect impact from the fallout from the Sub Prime crisis to linger well into next year. Acorn's volumes the last three weeks show signs of the market returning, the local market's entering a drop zone, and impact from our marketing efforts. That's two pluses, and one minus. Since I know my business pretty well as a result of utilizing my accounting software to analyze trends, I can detect each of those...hopefully you can now do the same.
Acorn is involved in several major projects this fall and my time and the Bright Horses time is devoted in significant ways to all of them. What a pleasure to see the management team that Acorn has built over the last eight years now beginning to pay off in a major way! Of course, I've chronicled our move beginning in the year 2000 from a one man operation to the vibrant business of today. In the early years we chronicled the passage on a couple of Internet forums. In the last year it's primarily been here on Appraisal Scoop. I hope you've been able to keep up with the journey.? Acorn is now a global company with global resources!
First and foremost, the birth of Maddie...
I now have three grand daughters, two grandsons, two daughters in law, and two sons. Life is rewarding.
Just thinking of those three girls growing up together, becoming friends along the way, is very heartwarming.
Second, Acorn now outsources clerical work to India!
Senior Bright Horse thought the concept had potential several months ago and began researching the concept. He located several Indian Out Sourcing companies and interviewed and solicited bids from them. He selected one for a test period which was successful, then signed a contract to utilize their services. We currently save about half a person in the duties being performed, and the added duties we will be training them on shortly will likely result in a full clerical person savings....reducing our clerical cost in that area by 85 percent.
Additionally, that has opened up a HUGE resource for Acorn. Another challenge was presented to us just a couple of weeks ago. A task of certain magnitude that normally would have brought us to a halt. No problem...let's give our global partner a call and develop a solution to this one! Within two days we had the project outlined and within a week we were ready to begin. Remember the Runt Rant column of March 30th, The World is Flat
Third, the Runt is entering a new phase, learning new tricks!
Acorn's joining of the Zaio Network in the early part of this year expanded Acorn's horizons and potential exponentially. Literally! We now have close to 700 partners in business across the country, folks who think like us, who have put capital up, who are devoted to the future. That's energizing. That's exhilarating! The Bright Horses are meeting young entrepreneurs across the country, sharing ideas, working on joint projects, building their future business.
In just the last two months the Runt has learned to participate in teleconferencing, to participate in and host webinars. As I type I'm looking at my webcam purchased last week, and waiting for Acorn's Global HQ to install theirs so we can explore it's potential....another Flat World extension.
I've participated in corporate trips, meeting new people, dynamic, energetic young people, folks with vision and the skills and tools to turn the visions into reality. I've learned that I can travel again, and stay up with the fast pace (well almost) set by all these folks. Next trips are Washington DC for the National Appraiser Conference and Las Vegas for Valuation 2007 and the Zaio Summit in November. Hopefully I'll meet some of you at each location.
I've dusted off my former life's skill set...corporate management activities...working with a national committee of highly experienced and skilled appraiser/business owners across the country. Hopefully they'll be patient with me while I relearn those lost skills.
I'm testing a tablet PC, my first, learning to be a "road warrior"; learning to utilize that hardware along with Power Point and video clips to develop local marketing presentations for Acorn and for my new local and national business partners. Wow! Such powerful technology!
The Lesson
All this is being done in a down market, a market where Acorn is not achieving our 2007 revenue objectives, thanks to Snake Oil Salesmen, non regulated mortgage brokers selling product that many knew could not serve the needs of the customer, and a very greedy international capital market.
CONCLUSION: The cycles of business are not totally under our control. We can influence, but we can't control. The worst thing we can do in a down market is to cry about our troubles. Leave that to others. Go do something, anything!
The author is the owner of Acorn Appraisal Associates, a 22 year old firm offering a wide range of quality appraisal services to the Financial and Business Communities. kverrett@oak-acorn.com
I have the right to remain silent. Anything I say will be misquoted and used against me
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