View on Valuations: 20/20 Vision

mmPosted by

The time-worn phrase that says that “hindsight is 20/20” becomes more accurate for me personally every day.  The balancing act of trying to become proficient with what knowledge I already have with new trends and techniques can be difficult to maintain. 

Becoming somewhat smug that my knowledge level will pay the bills today can quickly go away with the introduction of a new competitor, change in the economy, new tax laws or any other factors outside my control.  Now, I wish I had developed business habits that trained me to adapt quicker and faster to new conditions instead of concentrating on what is tried and true. 

In today’s high-tech environment, changes are happening around us faster than ever and that holds true for the valuation and appraisal professions.  So, what changes can I prepare happening soon to ensure that I remain proficient and a relevant force in the valuation profession should be a daily pursuit.  The hay farmer had his world changed when Henry Ford rolled out his new automobile in the early 1900’s.  Within a short decade, the demand for hay to fuel horses pulling wagons was dramatically changed.  Now, I am trying to understand what “bale of hay” have I been relying on which may soon go away.

Leave a Reply

Your email address will not be published. Required fields are marked *