Update: Speaking Engagement: SVN #CRE Tech Tools Seminar – San Fran

Update:  Due to our scheduled session reaching capacity, I am pleased to announce that we are adding a second session.  The new session will be a morning event from 7:30 – 9:30 am at the same location.  I hope that you can join us!

I am looking forward to speaking at the Sperry Van Ness #CRE Tech Tools Seminar.  I will be demonstrating how our advisors use cloud-based marketing, CRM tools and other technologies to manage and grow their businesses.

Date:  Dec. 11, 2012 (Happy Birthday Dad!)

Time:  7:30 – 9:30 – seats still available

   12:00 pm – 2:00 pm – Sold Out

Event:  Sperry Van Ness #CRE Tech Tools Seminar

Topic:  Cloud based Business Management and CRM technology demonstration

Sponsor:  Allen Matkins Law Firm

Venue:  Three Embarcadero Center, 12th Floor

Location:  San Francisco

Public:  Open to all CRE brokers/owners/managers

Registration:  Click here to register.

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Click here for more information about having me speak at your event.

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The 8 Steps to a Killer Prospecting System

In last week’s post, the Difference Between Top Producers and the Others, I made the case that top producers prospect.  That is the difference.  They schedule time to do it.  They have a system that they execute.  It works.  It sets them apart.  I have also written a post on the benefits of systematizing your business.  Both of these posts deal with the “why.”   Before you go any further, I encourage you to take a few moments and take a look at those posts.  Knowing “how” without believing in the “why” will lead to burnout and letdown.

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I highly recommend coaching.  Regardless of your level of success, a coach and mentor can provide you with great benefit.  At the beginning of 2010, I hired the Massimo-Group to coach me in my commercial real estate business.  Up until that time, I had never systematized my prospecting efforts.  There was no rhyme or reason.  Often, there was no prospecting at all.  My coach helped me change that and revolutionized my business in the process.

I want to clarify what I mean by prospecting.  Prospecting is a form of business development.  Networking and building a presence – or a platform – is another form of business development.  Their activities are similar.  Their purpose is completely different.  (To read about the difference between prospecting and networking, click here.)  Prospecting involves asking for the business.  That is its only purpose.

Since my last post on prospecting, I’ve received a number of questions about how to do it.  My way is not the only way, but any effective prospecting system will have elements of these 8 steps.  This is exactly how I built my core business.  You can do it too!

How to Build a Prospecting System

  1. Define your geography – This is as simple as it sounds.  You have to know what geography you are working in.  I come from a small tertiary market.  To have enough Single Tenant Net Lease (STNL) properties to go after, I built a state-wide database.  I’ve heard different numbers, but you need at least 350 properties in your farm area.  If you are in Los Angeles like one of my clients, you may just have a section of such a large city.  Regardless, you need to be able to articulate it with clarity.
  2. Choose your specialty – If there is one thing true of top produces, other than they prospect, it is that they are specialists.  Use this test.  What are you good at?  What do you like?  And where is the deal velocity?  Your specialty should be where these three answers intersect.  A quick note:  it is OK to be a geographical specialist.  The number one broker from the number one CRE firm in New York City is a geographical specialist.  And he kills it!
  3. Build your database – Once you know your geography and your specialty, it is time to build your database.  It should include all the properties in your farm area.  You need to know who owns what, how long they’ve owned it, what they paid, and their contact information.  I’ve heard brokers talk about how they used to have all that information on notecards.  My assistant built mine using Excel.  We then imported it into my cloud-based CRM solution.  All of that info is now in my iPhone.
  4. Send them something in the mail – This could be a book, a letter, anything of value.  The whole idea here is you want to raise your chances that they will take your call and talk to you.  Letters are cheap.  There is no reason not to send them.  Get creative.  You want them to want to take your call.
  5. Make the dang call – This is the scary part for most brokers and salespeople.  Fear of rejection.  Fear of sounding and feeling stupid.  You must overcome those fears.  You must prepare – but not so much that you never make the call.  The entire goal of the cold call is to get a meeting.  That is it.  If you spend 30 minutes talking, you have missed the point.  Get the face to face meeting.
  6. Have the meeting – Face to face is where the top producers excel.  These meetings can take two forms.  I prefer the first meeting to be a needs-analysis meeting.  I am asking questions of the prospect and it is all about them.  Then the second meeting is where I make my proposal.  That isn’t always possible, but it is certainly ideal.
  7. Make the proposal – Sometimes, step 6 and 7 happen at the same time.  Ideally, you have had the needs-analysis interview and then gone and crafted a custom proposal that addresses the specific needs of that specific prospect.  This beats a canned-presentation every time.
  8. Win the listing/Make the sale – this is what success looks like.  After a while of doing this, you will know that if I make X amount of calls, I will get this many meetings.  If I get X amount of meetings, I will make this many proposals.  If I make X amount of proposals, I will win this many listings.

How do you prospect?  Do you have a system?  What can you add that I have overlooked?  Please don’t hesitate to comment.  We want to hear from you, and it will benefit the entire community.

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Top Posts for November – And The Dollar Shave Club!

In case you missed them, here are the top posts from November.  I have also added a bonus Saturday post at the bottom that is guaranteed to improve your daily life – if you shave.  Be sure to check it out at the bottom!

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The 17 Rules of Email Etiquette – My biggest beef with email is its ability to interrupt me.  The nature of my business requires me to be doing multiple things.  I am not a natural multi-tasker.  I much prefer to hone in on a task and focus all my energy on it.  I rarely get to do this.  I am also easily distracted.  The ding and notification that announces every email can cost me 5 – 60 minutes  Read More…

The Difference Between Top Producers and the Others – How many times have you heard brokers complain about how the market has sunk their business?  Maybe I’m talking about you?  You have heard the cliché, “a rising tide lifts all ships.”  The reverse of that would be, “a sinking tide sinks all ships.”  That seems to be the mantra of the CRE industry of the last four years.  Read More…

How the 14 Marine Corps Leadership Traits Apply to Your Business – Part 1 – Today, I was organizing my closet.  Hanging there next to my ties and dress shirts were my old Marine Corps uniforms.  They caused me to think back 8+ years to my former life.  So much of my life now is influenced by my enlisted years.  Just as the old meets the new in my closet, so much of the USMC leadership traits apply to running a business.  Read More…

How the 14 Marine Corps Leadership Traits Apply to Your Business – Part 2 – I was born with bearing.  God just knitted this one into my personality.  When I was a PFC (private first class), I had duty for the first time.  This meant that I stayed up all night manning a post in the barracks.  I was part of a 3-man team.  This was my first time “on-duty,” and I made a mistake…  Read More…

How to Turn Failure into Motivation – You will experience failures in your personal and professional lives.  It should not be the failed goal that defines the experience but the way that we respond to the failure.  Consider reflecting on these questions…  Read More…

My Salute to Our Fighting Men and Women this Veteran’s Day – Today is Veteran’s Day.  Today is the day that we remember and honor all the men and women who sacrificed.  They sacrificed years. Some sacrifices limbs.  Many sacrificed their lives – for you and me.  We understand freedoms not known by most throughout history.  My brother, who is a Marine Aviator, is this day protecting the freedoms of Americans to burn the flag or hate our country.  That is sacrifice.…  Read More…

Bonus Post

I remember when I was in college, I would shave every 3 to 4 days.  There was two reasons for this:  every guy hates shaving, and I was lazy.  Then I enlisted in the Marine Corps.  They require a clean-shaven face every morning.  It is called “scraping your grape.”

Five years of “scraping my grape” every day has two unfortunate consequences.  The first is that I now prefer the shaven face.  The second, and worse, is that my wife now can’t live with my scrubby face anymore.

Since I have resigned myself to shaving every day for the rest of my life, I now hate the razor racquet.  I can buy the razor handle for pennies, but the razors cost a fortune.  I’m in a bad mood every time I have to buy razors.  And since I have to pay so much for them, I use them longer than I should.  This causes me to hate shaving even more.  This is a vicious spiral.

Enter the Dollar Shave Club!

This is the coolest idea I’ve seen in a long time.  Additionally, this video is genius and hilarious – though unfortunately more raw than it needs to be.  Regardless, enjoy the video.

So here is how it works.  You sign up for one of the 3 levels of razors.  They send you every month the razors you need – automatically.  This rocks for the following reasons:

  • The razors are comparable to the Gillette Fusion I used before.
  • The price of the razors are way less.
  • You no longer have the negative experience of actually purchasing over-priced razors from the store – the razors are shipped to your door!
  • You don’t have to stretch the use of each razor.  This improves your overall experience.

In a word, the Dollar Shave Club rocks!  Sometimes it is the simple things in life.  This is one of those things.  Do yourself a favor and check them out.  And have a great weekend!

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The Difference Between Top Producers and the Others

If you have read this blog, you know that I am in the commercial real estate industry.  Since the crash in the CRE market in the second half of 2008, I have heard a lot of complaining.

In my coaching business with the Massimo Group, I have also had the great privilege of coach CRE throughout the United States and Canada.  From the catbird’s seat, I have gotten to see what top producers do that all the others do not.

The difference?

Prospecting

How many times have you heard brokers complain about how the market has sunk their business?  Maybe I’m talking about you?  You have heard the cliché, “a rising tide lifts all ships.”  The reverse of that would be, “a sinking tide sinks all ships.”  That seems to be the mantra of the CRE industry of the last four years.

Not so for top producers.

Many brokers prospect when they start their careers.  But then something happens.  They have success.  They become known.  They start to get referrals.  Business starts to find them.

Then they stop prospecting.

This somewhat describes the first 4 years of my career.  I walked into a family commercial real estate business where my father and grandfather had great success – for decades.  I inherited presence.  The “tide” was so high when I started in November 2004 that I was going to have success.  I never had to prospect.  Business just walked right through our office door.

Then 2008 happened.  All of the sudden, business dried up.  I realized that those who don’t prospect are hitched to the market.  If the market is great, you have a great year.  If the market is bad, you have a bad year.

You have no control of your business.

Top producers refuse to relinquish control.  They understand that the only way they can have consistent deal flow is to make prospecting the core of their business.  Having presence where business walks through your door is a blessing.  But it is also a trap.

Top producers come in all shapes and sizes.  Men and women.  Some with this personality and some with that.  Some are tall and good-looking.  Some are short with a bad hairline.  The one constant is that they prospect.  Every day.  They block out time to ensure they are doing the most important thing.

There is no secret sauce.  The one thing that can set you apart is right there in front of you.  Take it.  Refuse to be crippled by your fear of the cold call – of rejection.  Pick up the phone.  Then do it again – and again.

Now is the time to pause and reflect.  A new year is fast approaching.  Allow 2013 to be that pivotal year in your career when you break free of mediocrity.  Nothing is stopping you but yourself!

So what role did prospecting play in your business in 2012?  How would you rate yourself on a scale of 1 – 10?  Please share with us a quick story where prospecting led to a deal – it would be so encouraging.

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Speaking Engagement: SVN #CRE Tech Tools Seminar – San Fran

I am looking forward to speaking at the Sperry Van Ness #CRE Tech Tools Seminar.  I will be demonstrating how our advisors use cloud-based marketing, CRM tools and other technologies to manage and grow their businesses.

Date:  Dec. 11, 2012 (Happy Birthday Dad!)

Time:  12:00 pm – 2:00 pm

Event:  Sperry Van Ness #CRE Tech Tools Seminar

Topic:  Cloud based Business Management and CRM technology demonstration

Sponsor:  Allen Matkins Law Firm

Venue:  Three Embarcadero Center, 12th Floor

Location:  San Francisco

Public:  Open to all CRE brokers/owners/managers

Registration:  Click here to register.

Click here for more information about having me speak at your event.

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Social Media For Brokers Webinar: Twitter

Please join Angela Brown and me for a free webinar sponsored by CoStar!

Social Media for Commercial Real Estate Brokers Webinar:  Twitter

Thu, Nov 29, 2012
3:00 PM ET (12:00 PM PT)

Click here to register!

During this live presentation with social CRE experts, you will learn best practices for elevating and managing your social media presence on Twitter. This program will go beyond the basics, leaving participants with actionable information that they can use right away.

Our topics include:

What you can do with Twitter – You’ve heard all the fuss but what is it good for?

Nailing the profile – A look at profile best practices and recent changes to its appearance

Connect with clients and prospects using
“The Rule of Thirds”

Presenters:

Angela Brown, Communications Manager, CoStar Group

Bo Barron, CCIM, Managing Director, Sperry Van Ness/The Barron Group

Click here to register!

*Do you communicate on a social media channel?  If so, spread the word!  Tell those that may benefit from this webinar to join us.

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How to Turn Failure into Motivation

This is a guest post written by Major Mike Arnett.  Not only is Mike a world-class Army doctor, he was also my college roommate and easily one of the best friends I’ve ever had.

A few weeks ago, I had dinner with my old friend, Bo Barron.  Bo was on the way to the airport in Nashville.   He was flying to Connecticut where he would be speaking on the use of technology in the commercial real estate industry.  Bo is my only friend from college who has served in the military, and there is a bond between those who have worn the uniform of our country – even between Jarheads and G.I.s.  It was an ideal way to spend Veteran’s Day evening: eating great deep-dish pizza, drinking a great beer, and telling war stories with a great friend.

Major Mike Arnett and Bo Barron. Taken by Mike’s 6-year-old son.

In reference to his upcoming speaking engagement, Bo told me of his passion for speaking to groups.  He then asked me if I remembered a Beta Club speech competition in 1993.  I honestly have no recollection of that district round.  Quite conversely, Bo has an extremely vivid memory of the event.  He clearly remembers me beating him in the districts to deprive him of a trip to Louisville.  This was two years before we would become friends and roommates at Murray State University.

Bo responded to this defeat by committing to his public speaking skills, seeking out opportunities for speaking engagements, and building his confidence in front of a group.  Now, he travels from his corner of Western Kentucky to New England (among others) for corporate speaking engagements.

I have a very similar experience with an 8th grade football teammate, David Campbell*.  David was scrawny even by middle school standards.  Considered that I topped out at 5’7″, it takes a diminutive form for me to use the label “short.” During the football banquet that year, I was surprised to hear that the academic award for highest GPA went to David.  It turns out that my good grades were still short of his 4.0 GPA.  I knew that I would never be the offensive star, but I figured that I could study harder than David and get that award in 9th grade.

That is exactly what I did.  With a 10×14 wooden plaque supporting a plastic football player as my only motivation for academic excellence, I made a 4.0 and received that academic award.  Holding that award was extremely gratifying, and I took much pride in achieving my goal. Spring semester of my freshman year, I continued taking the same classes and it was not particularly difficult to maintain the same study habits so I kept making As.

During my sophomore season, David did not try out for the team but there were some smart upper class-men, and I really wanted another award.  So, I committed myself to winning the academic award again.  I studied on the J.V. bus during away games.  I used the time in between school and practice to complete small sections of homework.  It went as planned.  I received another 4.0 for the fall semester and another plastic football player.

At the end of our sophomore year, the school released the class standings.  I was surprised to see that I was tied for class valedictorian.  The potential of a much greater accolade motivated me for the next two years.  The study habits and decision-making patterns that I developed out of pursuit of an award with a plastic football player resulted in a full academic scholarship to college.

You will experience failures in your personal and professional lives.  It should not be the failed goal that defines the experience but the way that we respond to the failure.  Consider reflecting on these questions:

  1. Why did I not achieve my goal?
  2. What do I need to change or improve?
  3. What do I need to give up in order to spend my time more productively and succeed?
  4. How can I get better?  Be as specific as possible.

To this day, I consider my disappointing 8th grade football banquet as one of the pivotal moments of my life and David Campbell has my eternal gratitude for his unintentional influence on my academic career.  Likewise, I am glad that Bo Barron holds no grudges.

So what failures in your life have led to pivotal moments?  What failures have you wasted?  We would love to hear from you!

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A Review of Platform: Get Noticed in a Noisy World by Michael Hyatt

This is the book that started it for me.  This past May, Michael Hyatt published his New York Times bestseller Platform:  Get Noticed in a Noisy World.  The blog you are reading now was built on what I learned in this book.

In January 2010, I sat in on a webinar where a man laid out a social media strategy.  Until that day, I thought that Twitter was ridiculous.  I believed that the ROI on a social media strategy equated to wasted time.  I listened to this man spend an hour describing the benefits of having a social media strategy.  That hour changed things for me.

As I write this post, I have 2,677 followers on Twitter.  I have 1,502 business connections on LinkedIn.  I have 2,698 ‘friends’ on Facebook.  I don’t share this to boast.  I simply want you to know what is possible.  I am certainly not a celebrity.  What I have done is execute a plan, and it has worked.

When I read Platform in July of this year, it had the same effect on me as did the webinar on social media.  I finally understood the importance of blogging in conjunction with these other social media tools.

So what is a platform?  It is something that you stand on to be noticed above the crowd.  It provides visibility.  It allows for the amplification of a message.  It facilitates a connection between the messenger and the audience.  I don’t care if you have a product or service to sell or a cause to promote, you need a platform.  If this describes you – and it does – this book is for you.

The social media revolution makes this even more important.  Consider these statistics:

  • 14% of people trust traditional advertising (that is an incredible figure!)
  • 18% of TV ads generate a positive Return on Investment (ROI)
  • 90% of people skip ads if they have a DVR/TiVo
  • 78% of people trust recommendations from connections via social media
  • 70% of people trust recommendations from strangers via social media (wow!)

Michael Hyatt has been blogging for over 8 years and has built a truly world-class platform.  He shares with the reader what he has learned in that time from his success and failures.  The book is laid out in 60 short chapters that cover the following 5 steps to build an effective platform.

  1. Start With Wow – He uses a quote in the book that says great marketing simply makes a bad product fail faster.  The idea is you must have great content.  Wow your audience!
  2. Prepare to Launch – This is the preparation for launching your platform.  He covers everything from thinking bigger, to defining your goals, to setting up your tools.
  3. Build Your Home Base – This is the section of his book where he really dives into blogging.  How to blog.  How to write posts faster. How to avoid common mistakes.  This section has been invaluable to me as I launched my blog in September.
  4. Expand Your Reach – This section is all about how to build your audience.  It is full of sage advice and helpful tips that I use on a regular basis.
  5. Engage Your Tribe – Social media is a phone conversation – not a mega-phone.  The entire idea is to build and then engage your audience.  In this section, Hyatt shares with you all he has learned in building a platform that has over 300,000 unique visitors to his blog every month.

This is now a reference book for me.  It is highlighted and underlined.  I have notes written in it everywhere.  It is also the one book that I’ve loaned out and actually made sure I got back.  What I love most about it is the 3-5 page chapters.  Whatever I have a question about, I can grab this off the shelf and quickly find the answer.

This book needs to be on your shelf as well.  Here is where you can order it – Platform: Get Noticed in a Noisy World (affiliate link).

So let me hear from you.  Have you read it?  What did you learn?  What could a larger platform help you accomplish?
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The 17 Rules of Email Etiquette

I recently wrote a post on how to manage your email inbox – you can read it here.  I’d like to approach it from the other side.  What kind of effect to do you have on everyone else’s inbox?  Are you a spammer?  Do you reply-all constantly?

Many of us work with or for large companies.  We have access to large email lists.  Understanding email etiquette is so important to protecting the culture of an organization as well as guarding productivity.

My biggest beef with email is its ability to interrupt me.  The nature of my business requires me to be doing multiple things.  I am not a natural multi-tasker.  I much prefer to hone in on a task and focus all my energy on it.  I rarely get to do this.  I am also easily distracted.  The ding and notification that announces every email can cost me 5 – 60 minutes if I let it.  I routinely get 200+ emails a day.  That equates to 200+ opportunities to be distracted from what is important to what is less important but potentially urgent.

Before I get into the rules of etiquette, here are a couple of suggestions to prevent email from derailing your day.

  • Turn the notifications off – I really appreciate you taking the time to read this.  But stop reading right now and turn the notifications off.  You really don’t need to see an email the instant it arrives.  If something is a true emergency, you won’t be contacted by email in the first place.  Turn off the pop-up notification and the audible ping.  Watch your productivity go up.
  • Schedule specific times to check your inbox – The nature of your business will dictate this, but I suggest checking your email once or twice in the morning and then again in the afternoon.
  • Set your phone, iPad, etc. to silent or vibrate – I can get email on my iPhone, iPad, and computer.  Turning of the notification on your computer does you no good if you still get “beeped” by your other devises.  Be consistent.

Before I starting listing “rules,” understand that I’m simply codifying manners and common sense.  If we all were to implement these into our use of email, our collective email experience would vastly improve.

  1. DON’T USE ALL CAPS – It reads like you are shouting.  I don’t like it when people shout at me.
  2. Sarcasm doesn’t translate – I am fairly sarcastic.  However, it is nearly impossible to pick it up from an email.  You need context and the ability to hear voice inflection.  Just the facts, ma’am.
  3. Email is a poor medium for bad news – I’ve heard this many times.  If you are just delivering sterile facts, a document, or good news, email away.  To simply inform quickly at no-cost, email works perfectly.  For bad news, however, make a phone call.
  4. Don’t reply all! – Remember how I was talking about being distracted?  Ask yourself before you send, do I really need to potentially interrupt all of these people?  99% of the time, the answer should be no.  Let me repeat – NO!
  5. Use proper grammar – UR not txting.  Use proper punctuation and grammar.  You represent yourself and your brand.  This is a no-brainer.
  6. Use the spell check – This is a no-brainer.  It is just too easy to do.
  7. Re-read before you send – I should probably put this last as it is the last thing that you should do before you press send.  Spell check won’t catch words that are spelled correctly but used incorrectly.  I often drop out words and you probably do as well.  Make sure what you send out reflects well on you and your company.
  8. Understand the permanence of email – Never send an email that you wouldn’t want on the front page of the paper.  Emails are so easy to forward.  They are easy to save and search.  I can go find an email I received years ago.  Think about how potentially damning an email could be.  Be especially careful when reply to a group email chain.  You can really get in trouble if you have negative content and ‘Reply All’ on accident.  Ask yourself, “If this ever gets out, can I live with the implications?”  If not, revise your email or just don’t send.
  9. Don’t be a jerk – If you are a jerk in an email, you are memorializing this fact.  You greatly compound this fact if you act like a knucklehead by replying all to 850 people.
  10. Proofread your emails – I don’t do this enough. This is right up there with leaving your zipper down in a client meeting – just not a good idea.
  11. Keep your emails brief.
  12. Don’t email angry – A number of times, I have written brilliant emails in response to circumstances that have made me angry.  Most of the time, I have hit delete.  I strongly suggest that you give yourself time to cool down before you respond.  You will always be glad that you did.  And there won’t be a record of your momentary rage-induced dumb-attack.
  13. Please don’t forward chain emails – At least don’t send them to me, please.  They add more clutter to my inbox, and they aren’t true anyway.  Microsoft is not sending you a check.
  14. Refrain from using “high priority” – There used to be a local broker that always marked his emails high priority.  They never were.  In fact, it was like he was saying that he demanded my attention because he was so important.  That probably was not his attitude, but it came off that way.  He used CAPS a lot, too.  Not a good combination.
  15. Craft an appropriate and descriptive subject – I must confess – I don’t read every email I get.  There are just too many.  I triage on the fly based on two factors:  who is the sender and what is the subject.  Be specific in the subject and your messages will be read more.
  16. Complete your signature – This is a common sense courtesy.  If you are connected via email, chances are that you will need to speak at some point.  Make it easy for people to contact you.
  17. Be pithy – Pithy means brief and to the point.  Don’t waste your recipient’s time.  If you are including a bunch of information, give them the headline first.  Don’t make them read 500 words just to get to the point.  People are busy and time is our most valuable resource.

What email etiquette rules did I forget?  Which one’s do you violate the most?  I invite you to share you comments below!

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