Part of my business includes Commercial Real Estate coaching with the Massimo Group, America’s premier Commercial Real Estate Coaching firm (www.massimo-group.com) and I have the privilege of coaching around a dozen brokers throughout the United States and Canada.  This blog is inspired by one of my clients in South Carolina, Ben Goforth (www.twitter.com/bengoforth), who sent me what is to follow.  I do not know the man who wrote these principles, but they resonate with me as if they were said by my own father.  I debated elaborating on some of these, but they don’t need it.  Read and enjoy, and maybe if we’re lucky, these words could be used to describe us someday.

My Business Principles

by T. Walter Brashier – as taught to him by his father, Ralph Brashier

1.  Let your word be your bond.  Think before you speak, but when you tell a person something, do it, even if it costs you.  Keep your word – have credibility.  But remember…

2.  Plain talk is easy to understand.  “Never beat around the bush,” because…how can you give a man “your word, your bond” if a man does not understand perfectly what you are talking about?  Remember…

3.  A good understand is better than a misunderstanding.  But after you have had a good understanding, remember…

4.  The shortest pencil is better than the longest memory.  Write it down…because even with the best friend, six months later you or they may say, “I don’t remember the deal the same way you do.”  Remember…

5  Strong contracts make strong friends.  Nothing will destroy a friendship or a business relationship quicker than for one to say:  “that was not what I thought our agreement was”…either as remembered by your or the other party.

6.  Never buy anything at the other man’s price – if it is not your own price – whether it is real estate or any other product you are interested in.  Because…

7.  Anything “well bought” is “half sold.”  And always remember…

8.  “A fast nickel” is better than a “slow dime.”  Keep your money turning.  And remember…

9.  You can’t go broke making a profit.  But, always leave a little on the table for the other fellow.  If you do, he will be back for another deal with you.

10.  Never get angry with someone making you an offer, even if it is ridiculous.  I had rather have on offer than 18,200 lookers.

11.  Always do business with your eyes and not your ears.  Don’t haggle with someone when they say, “what is the least dime you will take?”  If you do, they will keep coming back to see if you take less.  Tell them you are deaf when it comes to making a deal, but if they will write their offer down and put a binder on it, you have good eyesight and will consider it.  If you ever get an offer in writing, then you can negotiate.  An offer in writing is a deal half done.

12.  “You can’t buy character – you are what you are – but you can buy brains.  Son, learn to buy brains.  There is no need in one knowing about thousands of things when others are experts on those matters, and can be hired.  You always hire the best lawyer, the best doctor, yea, the best expert in any field you need help in.”

13.  Dad also told me:  “Never take advantage of anybody, and don’t let anybody take advantage of you.  If you let a man take advantage of you, you are just as guilty as if you took advantage of him.  Why?  Because this will just encourage that person to take advantage of someone else.

14.  Dad taught me well when he said:  “Never procrastinate.  If you have doubts about a deal, don’t buy it.  But if you feel good about a deal, act quickly.  I have lost a lot of good deals by procrastinating and ‘picking a deal to death.'”

Now a few things I have learned from others:

• The biggest idiot can sometimes ask questions that the smartest person can’t answer.  Beware of someone who has all the answers.
• A bulldog can whip a skunk any day, but it is not worth the effort.  Learn to walk away from a fool.
• Your temper is one of your most valuable possessions.  Don’t lose it.
• A wise old investor once said:  “All along, sell everything you own and bring your money home and let it know who it belongs to.  The man who goes broke is the man who continues to make $100,000, but spends or borrows $200,000.”
• The raised nail always gets the hammer.  Always keep a low profile.  Don’t talk to a newspaper man if you can help it.  Don’t ever argue with a man who buys his ink by the barrel.
• Finally, remember, the largest word in any language is NO.  Anybody can say YES.  It takes a man to say NO, whether it is a moral issue or a business deal or any questionable position that even a friend can put you into.

Now tell me, after reading such wisdom, what resonated with you the most?