Page 7 - Strategic Operations Diagnosis Workshop
P. 7
REAL ESTATE & FINANCIAL STRATEGY
Major Takeaways Financial Strategy
Always use your own template for When DGR payroll is high but
developing your letter of intent. managers say they don’t have Quotes from the
Capital improvements are not part enough staff, there a couple of Workshop
of the rent. Be specific with what things you need to look at. “You need to have a good
you are going to cover. Are you overpaying?
real estate attorney. If
Specify exactly where your What’s the efficiency of your you find a good one,
donation drop-off will be located. revenue per payroll hour? always use the same one
If not, you could be taking because they already
donations through your front door. John Hannam explained that know what you are
Ask for permitted uses, like every year his organization does looking for in your deals.
a 10-year cash flow fund. It’s a
parking spaces, or state you don’t great way to understand how the You can play good cop,
want a bar to open next to your cash is working for them and bad cop using a really
store. good real estate
where they want to go with it in attorney.”
Remember brokers are NOT your the next 10 years.
friend! “Landlords and
Michael Winckler encouraged developers don’t care
Kim Ryder is constantly looking at the attendees to get to know who about what our mission is
market population counts, economic their “compadres” are by looking and they make weird
development and the business journal at the ASR so they can learn to assumptions about us
to see who is growing and expanding. be effective. He noted, “our hiring felons and disabled
Brokers have access to this tremendous advantage is our people. They only care
information as well. willingness to share anything.” about the retail.
In our area, we are closing
“Ross makes more money off of their real estate demands than a lot of our career centers
they do on their retail.” because of low
attendance. We are
moving towards an online
Did You Know? platform and figuring out
The International Council of Shopping how to incorporate the
Centers (ICSC) hosts an annual retail mission in a new way.”
tradeshow called RECon, the largest
global gathering of retail real estate “In recent years,
professionals. the most value of Thought of the Day
Every year, Goodwill of Central and the tradeshow is Michael Winckler’s final
Northern Arizona hosts a booth during the selling ourselves thought as he finished
tradeshow and extends an invitation to to other retailers, telling the journey of how
other Goodwill members. [like Home Depot he and his team turned
and Walmart].” around Goodwill of
Southeast Georgia:
All you need to do is get yourself there “I’m not that good and I’m
and register for the tradeshow! not that smart, but I
Your Three Commitments
At the end of the workshop, attendees were asked to write down know when to bring in
three commitments they would take from the workshop and help and hire really smart
people.”
implement at their Goodwill. To attendees, don’t forget your
commitments. To other readers, based off of what you read, can you
come up with your own three commitments?
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