Exposed, Exposing & Exposure of Capitalism’s Inherent Blessing

Unchained has wrapped up and, by all accounts, done a stand-out job exposing Social Media Marketing and the power of the individual.   I was bummed I could not attend.  Funny thing though: if you are hungry enough you get fed anyway.  My hunger was sated in seeing how a democratic, capitalistic, free economy continues to reveal our greater selves.  This past Friday that idea was brought home in a powerful, if disjointed, way in the pages of the Wall Street Journal.

There were three, seemingly unrelated, articles that taken together gave me great joy.  From time to time we need to polish our appreciation for the economically empowering era we live in (and sometimes take for granted).

> Guy Sorman wrote an op-ed piece exposing the massive cracks in communism and the potential for political fall out that stems from the natural disaster of an earthquake.  The buildings whose failures caused the most damage – the schools and the hospitals – were those constructed by the state.  The graft and corruption that leads to the crushing of school children does not go unnoticed by the people.

So it is with China and with tyrannical regimes: The party is convinced it controls everything. But it is often the unexpected events that reveal fault lines in the system, the hypocrisy of public discourse, and the most unbearable injustices.

Tyrannical or sublimated, political or economic: the chokepoints of the world are slowly exposed. 

> The second article was a front page celebration of Erin Callan, the most powerful woman on Wall Street.  A free economy coupled with a free exchange of ideas is contributing to women taking their place in the most powerful of positions.  Even better, in my humble opinion, is what Ms. Callan has become known for and, one must assume, what helped move her to the very pinnacle of the economic pecking order:

She aggressively roots out rumors, even while pushing her bosses to disclose more financial information.

The open and transparent exposing of information leads to success.

> The third article discussed CEO Willie Walsh of British Airways PLC.  The company saw a record performance to end the year and is paying an annual dividend for the first time in seven years.  The staff will share in a bonus worth over $70 million dollars.  Yet there were glitches with the opening of a new terminal at Heathrow for which Mr. Walsh has taken full responsibility, claiming that it is his fault the employees were not properly trained.

Chief Executive Willie Walsh said he will forgo his annual bonus, worth (close to $1.5 million), because of the troubled opening of Heathrow’s new Terminal 5… “I felt in the context of a disappointing opening to Terminal 5 it would be inappropriate to take a bonus.”

Accepting the exposure of a failure and the responsibility of a leader is inspiration in its highest form. 

So it goes. From around the world we see the power and sometimes the humanity of capitalism.  An earthquake in China leaves communism’s cracks exposed; the CFO of Lehman Brothers chooses transparency and the economics of exposing; the CEO of British Airways takes responsibility for his company and accepts exposure.  Rejoice brothers and sisters: Exposed, Exposing and Exposure are the three dances of power disseminated.

Filed under: LIFE THAT POPs, Success

Success is Knowing Who Your Friend Is

Back on Monday, Jeff Brown wrote a post explaining in no uncertain terms why some real estate agents are failing.  If you have not read that post yet you need to take a long look in the mirror, get your priorities straight, stop reading this post and go back to Jeff’s.  Once you are done reading take another long look in the mirror and come on back.  Yesterday Brian Brady wrote a post with no less than sixteen links on marketing as religion.  If you are going to reference religion in marketing you had better use a minimum of ten links, so Brian is safe.  If you have not read his post: Marketing is Religion you need to take a knee for a moment, get your priorities straight, stop reading this post and go back to Brian’s.  Once you are done reading take a knee again, meditate or pray about your philosophy of marketing, then come on back.  Go ahead, I will wait right here…

My two cents’ worth on creating leads has more of an athletic angle; if you don’t know me you might find this interesting. (If you do know me you are probably quite sick of the ’sport as life’ analogy, to which I say: tough!)  Two years ago I began racing Ironman triathlons (I use the term racing lightly here).  If you are not sure what an Ironman entails, I will be glad to tell you.  You start your day by jumping in the water with a little over two thousand other competitors for a quick 2.4 mile swim.  This warms you up sufficiently for the 112 mile bike ride that follows and we cap the whole thing off by running a marathon.  The cut off time for finishing is 17 hours and believe me, that doesn’t sound like much as the day progresses.  So besides bragging, you ask, what does sharing this have to do with marketing for leads in real estate and mortgages?  Plenty.

By the time I start the marathon portion of an Ironman, I am not alone.  I have a little buddy that shows up occasionally and runs along with me.  I heard a coach introduce this little guy once, telling me that “somewhere along the run, your friend is going to show up and you will get to know him very well.”  He was right.  When things become tough we all have a friend that shows up.  He starts out real nice; telling us to slow down and not risk injury.  Later he might point out the cramp we are feeling or the stitch in our side.  As the day draws on he becomes more persistent and a lot more persuasive: “Maybe you should stop for a while and walk, you don’t want to hurt yourself.” Or: ”Look, why keep going? You have already proven yourself.”  Plus my favorite: “Is this really all worth it?  Most people would not have even made it this far.”  You see, this friend that we have; that each and every one of us gets to meet if we push ourselves, is the voice inside that revels in your doubts and your failures and your fears.

Real estate, mortgages, sales in general; these are all endurance events.  The race takes years and success is poorly defined.  Is it a monetary goal, like crossing the line in a specific time?  Is it a sense of accomplishment, like merely finishing the race?  Is it the health and happiness that comes from the effort and day to day practice?  That answer is unique to all of us.  But no matter how you define success for your career – your race – you must first realize that it is not a sprint.  This is an endurance event and you are going to meet your friend along the way.  I guarantee it.  You must learn to recognize him when he shows up.  Practice your responses to the questions and suggestions he makes.  Train yourself to keep going despite your friend’s best intentions and most diabolical internal dialogues.  There are no pat responses and no easy fixes.  Gathering leads goes on in the face of a great deal of rejection.  It goes on when you feel like it and when you don’t.  Your response to your friend will be different from mine and may even be different each time you meet him.  But you must have a response.  The key, the most important idea I can share, is this: The power of fear flees from the light of awareness.  Get to know your friend and recognize him when he shows up.  Keep moving forward with your plan and know that the only wrong answer is to quit.  Sooner or later, you will hit a point and you will realize that your friend dropped out.  He has not been around for a while and will not be coming back this race.  He will be back again; the next time you start a new marketing plan or go prospecting for new leads; the next time you toe the line at the beginning of an Ironman.  He will be waiting there.  But you will be that much stronger for having dropped him this time.

Post Script 
In my first Ironman I can tell you exactly where I dropped my friend.  There were inspirational thoughts placed at some of the mile markers in the run.  At mile 20 I was really hurting.  I needed something.  I stopped to read the inspiration written there.  It was dark and night had fallen so I really had to get close.  After reading the words, I wiped a little tear from my eye and I started on again with a sudden feeling of confidence.  I knew I had dropped my friend right there at that sign.  The craziest part though, is that I was not thinking about my own race after I read it.  I was not thinking about myself at all when I dropped my friend… and maybe that is how it works.  Instead, I was thinking about all the agents I knew back home who were struggling with the market changes and trying to shift gears in the middle of their long, long endurance event.  The sign said: Tough times never last, but tough people do.

Filed under: LIFE THAT POPs, Success

The Joker is Your Ace in the Hole

“Eat your peas.”

“Don’t talk to strangers.”

When we were young, we heard many admonitions.  Being of curious mind, I always had a lot of interests, so one particular admonition I heard repeatedly was: “A jack of all trades is Master of none.”  The implication being that someone with a wide array of interests but no focus will establish mastery over nothing; which is to say: will not find measureable success.  There are, of course, exceptions to every rule.  Ben Franklin is certainly one.  His insights and accomplishments exist across a wide spectrum of intellectual and physical arenas.  Quintessentially, the exception to the rule might be Leonardo Da Vinci.  Alas, they are the exceptions.  As a matter of fact, if you establish mastery over many endeavors a la Da Vinci, we have created a new category for you. You are a Renaissance Man.  The goal of becoming a renaissance man is quite laudable… and beyond comprehension for most of us.

A recent post on BloodhoundBlog asked if agents writing on blogs shouldn’t spend more time writing about real estate.  I certainly do not take issue with that inquiry, nor do I question the purpose of the suggestion.  Real estate blogging can and should benefit those who buy and sell as well as those who represent.  But I do disagree with the premise.  I suggest that somewhere between Jack of all trades, but Master of none and achieving the pinnacle of renaissance man lies a gray zone most do not understand.

Not everything we were taught at a young age is correct.  Wide ranging interests without direct focus does not necessarily lead one to become a Jack of all trades.  As a matter of fact, by measurement of trade I have not participated, as a Jack, in a great many callings.  Yet in my life, outside of a few athletic avenues, I have not gained mastery over many things either; I certainly have yet to become a renaissance man.  So what do we call the strange area where interests are many and masteries are few?  The area in between Jack of all trades and renaissance man?

There is a fifth dimension, beyond that which is known to man. It is a dimension as vast as space… and as timeless as infinity. It is the middle ground between light and shadow, between science and superstition… and it lies between the pit of man’s fears and the summit of his knowledge. This is the dimension of imagination. It is an area which we call… the twilight zone.” –The Twilight Zone

Rod Serling may have called it the Twilight Zone but I find the answer a little closer to home.  If you become knowledgeable in many areas without mastering any one in particular, there is a line of work designed just for you; a calling for which you may very well become a Master.  The second oldest profession in the world: sales.

I find, as I get older, I can speak intelligently and interestingly on a wide array of subjects and at varying levels of depth.  I can talk to almost anyone about almost anything. Does that make me a Jack of all trades? Certainly not – I don’t participate in a trade – what it makes me is a superior salesman.  This is, after all, the very essence of becoming great in sales: the skill of communicating with others in such a way as to create comfort and earn their trust.  This is what we do do.  Successful sales or mayoral marketing, is the learned ability to communicate with your community of raving fans.  It requires only a curious mind.

Prove your teachers wrong.  Take an interest in a wide array of diverse subject matters.  Enjoy conversations with people on topics of interest to them.  You may never become a Renaissance man, but neither will you be a Jack of all trades and Master of none.  Instead, become a Joker of all Trades and Master of One: sales.

Filed under: LIFE THAT POPs, Success

I’m in Business to Make Money

One of the best parts of BHB for me, is taking the ideas and the round table discussions that happen here and bringing them to the street.  (I must admit an occasional guilty pleasure taken, when I use the knowledge I glean from BHB to steer and even dominate these discussions.  I am shamelessly looking forward to Unchained, that I might return a 600lb gorilla in guerilla marketing.)  There has been some very interesting debate recently, both here and on other blogs, over the valuation of real estate services.  It is a tough dialogue because large amounts of money are involved and strong feelings abound. 

But asking the agents I work with what they think of the NAR, their sense on the moral obligation of a contract and how they value their services opens up new view points and sheds more light on these issues.  Recently I was talking to a Realtor I know and respect about how to answer the question of commission and agent value.  Now, there may be many right answers to this question; but I have yet to hear one that cannot be debated and diminished.  Not due so much to anyone’s superior skills as a wordsmith but rather the multi-faceted nature of the topic.  This agent and I, however, after deciding that the premise of the question itself was suspect, eventually decided that there is one answer that is inarguable, morally justified and epistemologically sound.  The very simple answer to the question of how one justifies their commission is this:

I am a real estate agent and, by definition, an entrepreneur.  I am in business to make a profit.  I charge what the market will bear.

Filed under: LIFE THAT POPs, Success