With the news media in full throttle, using terms such as “MELTDOWN”, “CRISIS” and “RAVAGED” to describe our industry, it’s easy to understand why buyers and sellers feel a little skittish. With terms like "recession", "stagflation" and "global slowdowns", it’s easy to understand why so many people lack confidence in the market.
News flash! More millionaires are created in downturns than upswings.
Bulletin! The goal of economic gain is to buy low and sell high.
This just in! While your competition is shrinking and pulling back, this is the time to strategically grow.
At times like this, you need to lean into the most innovative and creative parts of your nature, let out your inner entrepreneur and build a plan for success.
Nelson Rockefeller was, in his time, the wealthiest man in the world. He stated that the time to buy real estate was when the blood was flowing in the streets. That was as true for the turn of the 20th century as it is today in the 21st. This is what opportunity feels like; lean into it, embrace it and conquer it.
It’s a good life!
Brian
Currently rated 4.9
In 1974, Morris Albert recorded this Grammy award winning song. At that time, it was considered one of the most strongly emotive and moving melodies. As time has gone by, when viewed in hindsight, the same lyrics that won a Grammy have often been lampooned as the sappiest song ever written.
Whether you like the song or not, feelings can be very dangerous for your business. In today’s market, there are lot of emotions; fear, anxiety, frustration and regret. Maybe you don’t know where your next commission check is coming from. Maybe you’re consumed with fear about where the economy and this market are going. Maybe you’re dealing with frustrated sellers who constantly focus on how much their home used to be worth as opposed to what’s it’s worth today. Perhaps you even have a ready, willing and able buyer who’s just afraid to pull the trigger because they don’t want to pay too much for a house.
The answer for a professional is to manage their emotions by keeping perspective. You need to know the historical trends of this business, how good of an investment real estate is (check out www.housingmarketfacts.com), and keep track of your own daily activities so you know you’re doing your best each day.
Feelings are great things. They let you know you’re alive. Personally they deliver the highs and the lows of the human experience. When it comes to your business, feelings don’t help at all. Manage your emotions, manage your business and manage your success.
How many calls, notes, Pop-Bys and business to business meetings are you having?
It's a good life!
Currently rated 4.5
With two adults and six active kids, you can imagine how much laundry there is to wash at our house. Sometimes we miss a couple of days, the baskets in the kids’ rooms overflow and when all piled together, the mountain of clothes looks like an overwhelming task with no end in sight. We have a choice at that time; clean clothes or go shopping for more.
As grown adults when we get behind on our lead-generation activities such as writing personal notes, making calls or doing Pop-Bys to our favorite clients, it’s just like a pile of dirty laundry. The thought of catching up seems overwhelming, the notes begin to pile up, and rather than sitting down and dutifully going through these one at time we let our minds drift: “Let’s run out to the Realtor® store and buy a talking house sign”, “Let’s go buy some internet leads”, “Let me do anything other than chip away at that big pile of unfinished tasks which will ultimately allow me to get my financial house in order.”
Very few people allow their dirty clothes to pile up for weeks on end, but in my experience, many small business owners will allow their lead-generation activities to pile up. Allowing your laundry to pile up is not the most hygienic thing to do… and if you put it off long enough, you’ll have nothing to wear. Putting off lead-generation activities isn’t too healthy for your business either and eventually will leave your financial cupboard bare!
It ain’t sexy but it’s simple enough: take care of your business before your financial challenges become your personal dirty laundry.
When Samuel Clemens uttered these immortal words under his pseudonym Mark Twain, it encapsulated what economists had been trying to say for years…that the fundamental law of economics is supply and demand. Outside of volcanic activity on the Hawaiian Islands, no new land is being created. Therefore, supply is limited.
The world population grows by approximately 90 million people a year increasing demand year over year. Human beings have three basic needs for survival; food, shelter and clothing. And I don’t see that changing any time soon. On occasion, the market goes through cycles of having too much resale inventory and too much new product followed by a housing shortage and price increases.
And even in the midst of surpluses like today, there is certain built in demand. For example, there’s a tremendous shortage of apartment buildings in many cities. Many markets are experiencing a surge in rental prices of single family homes. This creates pressure for the first time buyer to own and investor clients to buy.
So buy land; preferably with a house or apartment building on it. They’ve stopped making it!
It’s a good life,
The American breakfast provides a great analogy for commitment. Just like bacon and eggs on your plate, the chicken is involved but the hog is committed!
I’ve met a lot of people involved in their businesses but not committed to them. They put in 70 hours a week but they’ve never really made the commitment to their career.
Now I'm not saying you need to know what you want to do for the next 25 years, but I am saying that you need to be fully present in what you’re doing today. Who knows where life will take you…you may well be doing this for a very long time, perhaps in a different capacity or by working fewer hours, but when you’re not committed to your business as a career, you know it and so do your clients.
So what’s it going to be? Eggs or bacon?
Currently rated 4.1
Last night after the Boston Turning Point, I attended my first Red Sox game at Fenway Park. What an experience! Over the course of the game, I became caught up in the passion of those around me for their beloved team. Excitement, great humor and incredible passion enveloped the whole ballpark.
Suddenly it dawned on me; I wonder if these people are this passionate about their own lives and careers. I wonder if these people approach their goals with the same zest as they do cheering on their team to win a championship. What if this passion and energy was applied to overcoming the obstacles or challenges they face? It would seem that they, too, would be unstoppable.
What happened for me tonight was that I had a great time enjoying all the pageantry, community, and energy of a great sporting event, but left the game resolved in my mind to not live vicariously through others, but to cheer on my family, loved ones and myself to become all that we are capable of being and living the good life.
And that’s my wish for you too.
Currently rated 4.6
That was what my old high school coach used to shout to me on the field. That was his clarion call to increase the level of physical play on the field. It seemed to work as he led us to a National Championship. One thing I know is that principles don’t go out of style. And if you want to win a championship in your business, it’s time to step up your physical interaction with your clients.
In the colder climates, people have been cocooned in their homes with fewer people interactions than normal. Now that springtime is here, get out amongst your people. See them at work, at home, at events, or at business networking meetings. Attend seminars, classes or take in a show or ballgame together.
Visibility is key; especially with all the negativity in the media about the marketplace. Knowing that you’re active and out and about deepens your hold on being their trusted advisor. When the going gets tough, the tough get out and visit people.
So, get in your car and Pop-By! Visit, or break bread with your favorite people. And for goodness sake, let ‘em know you’re there…for them!
As I travel the world telling people how to grow their business and improve their quality of life, I always reference Zig Ziglar’s mantra of turning your car into a mobile university. I’ve listened to many courses on self-development and books on tape - all of which have benefited me greatly.
But there are times to just shut it all off!
Now I won’t drift into the talk radio arena, but music can stir your spirit, refresh your mind and ignite your emotions. Sometimes I want to play it loud and sing along. Occasionally… something cool just for fun. But ultimately, I love to play some beautiful instrumental that just allows me to think. Our lives are all so hectic that we get swept up with what we’re doing as opposed to why we’re doing it.
I know the Irish are musical, but it’s not just the paddies! When Confucius was asked about controlling a culture, they asked him would you rather control their food, their armies or their government. He said “none of the above…let me have their music and I’ll have their people.”
I will play the same instrumental song over and over until I can no longer consciously hear it. It is during these drives that I seem to be at my most creative, get my best ideas and have the greatest clarity.
It seems to help. At least the savage beast within thinks so!