Category Archives: Creating Presence

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The 3 Main Differences Between Prospecting and Building Presence

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I learned the Commercial Real Estate business from my dad.  Our family goes back at least 7 generations in this town.  To say that my old man knows everyone is an understatement.

Growing up, my dad’s signs were everywhere – and his face was on them all.  I couldn’t go anywhere without him staring at me.  Those signs probably kept me from making stupid decisions on more than one occasion.  When it came to Commercial Real Estate, he was top of mind – still is, really.  He had created tremendous presence.

He had created so much presence that I don’t remember ever seeing him do much prospecting.  Business just walked in the door – it would just come to us.  Huge blessing.  And that was before 2008.

Most of you don’t have the blessing of being 7th generation in a smaller town where generations of your family have been high-profile.  That is my advantage here.  Most of you are from larger cities.  Most of you have stiff competition.  Top performing CRE practitioners do not take things for granted.  They systematize their businesses.  Two critical systems that must be in place deal with Prospecting and Creating Presence.

These two systems are both similar and very different at the same time.  I have this conversations with my coaching clients on a regular basis.  Some of the activities that you do in your practice will fit into one or the other – or sometimes cross over into both.  So let’s define the 3 main differences between these two essential parts of your business.

3 Differences Between Prospecting and Creating Presence

1.  Purpose – The first and overarching difference is the purpose.  When you are Prospecting, your purpose is ASKING FOR THE BUSINESS!  If you aren’t asking for the business – you aren’t Prospecting.

Creating Presence is completely different.  Here you are trying to become and remain top of mind.  This is all about building relationships and adding value.

2.  Methods – Methods is the reason confusion exists between Prospecting and Creating Presence.  The methods for accomplishing these two systems are extremely similar.  Only because the purpose is different is there much differentiation.  In both systems, you send letters, make calls, have meetings, etc.

An example of Prospecting is when I go after a Dollar General store.  I send a letter.  I follow-up with a call to someone I haven’t met before.  I go for a meeting and then ask for their business.

When I’m Creating Presence, I send letters as well.  But I want VIPs to get something from me of value.  I call to schedule meetings.  I’m not asking for business.  Instead, I’m working on building relationships that can lead to business and referrals in the future.  The methods are similar – the purpose is what makes them different.

3.  Results – The result of Prospecting is getting the listings that you proactively pursue.  You decide what you want to go kill and bring home.  You do the research, find the properties and their owners, and go after them.  This is proactive and gives you more control over what your business looks like.

The result of Creating Presence is like what I described of my dad.  He was top of mind.  When someone had a problem or an opportunity related to Commercial Real Estate, calling him was a no-brainer.  You know that you’ve created presence when business starts coming to you.  You aren’t competing.  Business is being referred to you.  Here you are more beholden to what the market offers up, but it is so much easier.

What other ways are Prospecting and Creating Presence different?  Or the same?  Do you simply rely on your presence to bring you business?  In what ways would your business change if you prospected for the business you actually wanted to do?

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How Physics is Similar to Your Business

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The Avengers came out yesterday.  Big moment for my family.  I would be Iron Man – coolest cat on the planet.  My wife is a big fan of Thor.  I’ve tried to pull of that accent but it doesn’t do it for her.  My 10-year-old would be Captain America, and he should.  He already has that True North sense of right and wrong.  My 6-year-old goes between the Hulk and Hawk-eye.  My daughter still doesn’t understand the rules and ran into the living room with a Spiderman costume on.  It is futility explaining to a 3-year-old that Spiderman wasn’t an Avenger – not to mention he didn’t have a pony-tail.

Image: FreeDigitalPhotos.net

I bring up the Avengers for a different reason, though.  I feel like the Hulk is sitting on my face.  I have the distinct pleasure of having both nostrils out of commission.  So, I’m going to tell a quick story and then ask a few questions.  Then I’m going to bed.

 

The Story

This may be hard to believe, but my favorite subject in high school was physics.  I am a thinker.  I’m not sure why.  I’m not much of a feeler, a bit more of a doer, but definitely a thinker.  I want to know why stuff works the way it does.  Physics was full of ‘Aha’ moments for me.  I remember when Mr. Claypool showed me the formula behind why a curved road is banked at a certain degree.  This was super cool to me.

I remember toying with actually majoring in Physics in college.  Turns out that I majored in playing guitar into wee hours of the morning and dropping class….  My youngest brother is currently studying physics at my college right now.  In some ways I envy him.

But enough about physics.  Do you know how Physics is like Commercial Real Estate – or any other business?

If A=B and B=C then A=C

What do I mean, you say?  Consider this about your business.  What works?  What led up to that big sale – that big deal?  Did you know that if you repeat certain patterns you will get certain desired outcomes?  My business of CRE is just like yours in this regard.

The question is how do we do more of those patterns to get more of those desired outcomes?  You need a formula that works.

In my business and with my coaching clients, we call these systems.  I understand that if I send out this many letters and follow-up with this many cold calls, then I will get this many meetings.  If I get this many meetings, I will win this many assignments.  This is prospecting, and it needs to be a system.

Repeat certain behaviors to achieve desired results.

A Few Questions

Why don’t you systematize your business?  One of my hero’s in the business spends 2 hours a day cold-calling.  He’s the boss of is office.  He is working a system.  And he’s killing it.

Have you ever sat down with your team to brainstorm what works – and what doesn’t?  You’d be shocked at what you find out.  That is, if you’ve created a team that trusts enough to tell you truth.  Break things down to their smallest parts.  Delegate.  Maximize efficiencies.  Spend more time with clients and prospects.  Let your staff do anything that they can do so that you can do the tasks that only you can do!  Systematize!

What’s keeping you from taking that time needed to work ON your business instead of IN your business?  Something to think about:  top performers have accountability and coaches.

Let me hear your thoughts.

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My Tools to Manage Twitter in 15 Minutes a Day

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One of the most frequent questions that I get as I speak to groups is how I manage twitter.  No one believes that it only takes 15 minutes or less a day.

Image: FreeDigitalPhotos.net

Let me clarify.  In one of my previous posts – The Rule of Thirds – I shared the 3 types of tweets that you should be using:  curating original or other great content, engaging with others, and getting a little personal.  The key to the first category of curating original or other great content is getting the tweets done and scheduled at one time.

So without further ado, here is my list of time-saving tools.

Chrome – Chrome is Google’s web browser.  It is fast and has a simplistic elegance.  I also want Google to like me.  My favorite thing about Chrome is that it has a ton of add-on apps.  Two of them I will describe below – huge time-savers.  I also use the Chrome App on my shiny new iPhone 5.  All my bookmarks transfer – it is beautiful.  If you haven’t tried Chrome – download it now.  It is free.

Hootsuite – Hootsuite is a fantastic social media manager.  There are a number of others like it – tweetdeck, seesmic (just acquired by Hootsuite), and some others.  It allows you to do a number of things.  First, it allows you to automatically organize all the tweets out there.  You should set up permanent searches for mentions of your handle (ex. @bobarronccim), your industry, your city, etc.  Here is a screenshot of mine.  Note:  there are other set searches spanning to the right.

Hootsuite also allows you to post to LinkedIn, Facebook, and can manage multiple accounts of each.  It also allows me to schedule tweets.  This is key.  After I finish writing a post, I can schedule when it will be tweeted in the future – and on LinkedIn and Facebook as well.  Huge time saver!

Hootlet – Hootlet is a wonderful thing.  Find the Tools menu in Hootsuite and drag and drop the hootlet icon into your browser menu bar.  It allows you to easily tweet from any webpage.  If I am on GlobeSt.com, and I want to tweet out a great article, all I have to do is click the hootlet.  It generates the title of the tweet and the link.  Genius!

Google Reader – This is where the real-time saving happens.  Instead of bookmarking the websites that you regularly go to find great content, use Google Reader.  All those websites then send their new content straight to you.  Using RSS (really simple syndication) from your favorite sites, the new content gets sent straight to you.  Go to Google Reader and sign up.  It is free!  Here is how it works:

BufferApp – Buffer is my all-time favorite app.  It is essentially a queue that holds your tweets and releases them per a pre-set schedule.  This means that you can scan through Google Reader, pick out the 10 or so best articles, and simple click the buffer button.  It creates the content of the tweet just like the Hootlet, and puts it in the buffer queue.  This allows you to be tweeting all day long even though you simply spent 5-10 minutes filling the queue.  And it’s free!

Note that Buffer allows you to tweet it now or throw it in the queue.  So super easy!

Paper.li – Paper.li is a really cool app that aggregates the stories tweeted out by those your follow into an online newspaper.  Once a day, it sends a tweet for you and names some of the authors of those tweets.  They really appreciate “you” mentioning them, and Paper.li is completely automated.  And it’s free!

What do you use to increase your efficiency and save time?  What did I miss?  I can’t wait to learn something from your comments that will save me some more minutes!
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The Rule of Thirds: How to Build Your Tribe and Engage On Twitter

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One of the questions that I get asked over and over as I speak to audiences of Commercial Real Estate brokers is this:  how on earth do you use Twitter?

Here is some context.  The Commercial Real Estate Industry is notorious for being in the technological Stone Age.  I personally think this is for a couple of reasons.  First, the industry is dominated by really successful brokers that are my dad’s age.  These brokers are the ones asking me this question.  They became successful before the internet played a role in their business.  Why do they need it now?  I have a great answer for that…for another post.

Second, many of our clients are baby boomers who have been slow adopters of technologies as well.  Or at least slower than the Gen X, Y, and Millennial generations.

So for those in the industry just realizing the power of Twitter, here is how you build a following, engage, and benefit from the power of Twitter.

The Rule of Thirds

The basic premise of the Rule of Thirds is your tweets should fall fairly evenly into the following 3 categories:

First Third – Add Value By Tweeting Great Content.  You’ve heard over and over that ‘Content is King.’  This is true on Twitter as well.  People will follow you because you add value to their lives.  Think like a curator and a creator.  Example:  as most of my followers (currently 2,478) are in the CRE industry, I try to find great articles on Commercial Real Estate to tweet to my followers.  I also tweet out the content that I create myself.  Here is an example:

The 4 Blessings of a Down Market « theBarronBlog http://bo-b.co/QKfmV6 #cre

Notice the key parts of the tweet – the title of my blog post, the title of my blog, the link to the site, and then the hashtag identifying this is about CRE (or Commercial Real Estate).

Think add value to others!  And always include links.  Apps like Buffer and Hootsuite make this infinitely easy and efficient.  I will be reviewing both these apps in the coming weeks…so stay tuned!

Second Third – Engage.  Internet 1.0 was about static websites – think megaphone.  Internet 2.0 is all about engaging and sharing ideas – think telephone.  A third of your tweets should be connecting with others.  How?  Start with having manners.  Say ‘thank you’ when you get retweeted!  Comment on an article of value that was tweeted out.  Connect with people as if you are at a cocktail party.  I literally have real friends because I engaged on Twitter (@Michael_MBA, @BarbiReuter, @commsource, and many others).  This is the third where you will pick up loyal followers – where those connected with you will start retweeting you.

Third Third – Get Personal.  Be real.  Nobody wants to follow a robot.  You are a complete human.  Act like it.  Don’t just tweet out industry specific tweets all the time.  Allow people to know that you do other things.  I like to tweet out pics of me with my kids.  I want my followers to know that I’m a dad – and that I LOVE being a dad.  This engenders like-ability, and people help and do business with people they like.  Click here for an example.

A word of caution.  When using this Third, be smart.  Don’t tweet:  ‘Going to Italy for 3 weeks.  Please rob my house.’  Use common sense.

So how do you connect?  What are some of the guidelines you use that I failed to mention?  Let’s connect on Twitter.  You can follow me by clicking the Twitter button at the top right.  I will follow those that leave their Twitter handle in the comments.  I’m looking forward to learning from you!
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