Create Profit in Your Business Amidst Change

If you do business in Commercial Real Estate, you know there is constant uncertainty and change in the marketplace. It can be difficult to maintain a profitable business model with demographic shifts, technological advancements and changes to the small business world. Here are a couple tips to create profit and maintain value in your business.

Use Available Tools

As technology becomes more sophisticated, the more important it is as a business tool. It makes research, stat analysis and staying up-to-date on new trends in the marketplace a cinch.

One of the largest private real estate companies in New York City, Hudson Yards used heat maps to track high traffic areas in the city. Using this data, they were able to determine the best price for foot traffic to build new commercial buildings. (1)

There is also plenty of free and easy resources that are readily available online. Simple tools like google analytics and even social media can help you track your bounce rate, show you where your traffic is coming from and even show you what people are looking for when searching your business. Understanding statistics can help you adjust to increase your numbers.

Learn To Flex

Flexibility is really the key to creating profit during seasons of change. You must show a willingness to shake up your business model and occasionally even take risks. Be aggressive about staying informed, checking out your competitors and staying up-to-date on local businesses that are thriving. Don’t be afraid to seek advice from other Commercial Real Estate companies and learn from their business model.

In today’s current commercial real estate configuration, Dominion Advisory Group, Inc. has successfully carried out business transactions with multi-billion regional, national and international companies involved with retail and consumer products, manufacturing companies and industrial projects, hospital and healthcare systems, financial institutions, government entities, restaurant companies, as well as insurance companies, law firms and CPA firms. Including the process of site selection, acquisition, land entitlements, and the full vertical development of hundreds of millions of dollars in high-value projects. We offer consulting services and will also work with representing third-party corporations and investors in joint venture formats. If you have a project in mind, make sure to contact us.

1 Chloe Sorvino, “Hudson Yards, America’s Largest Private Real Estate Development, Opens First Building,” Forbes, May 31, 2016.