How to Carve Out Your Place in Real Estate History
In building a great real estate business, there is no single defining action, no grand program, no one killer innovation, no solitary lucky break, no miracle moment, no silver bullet.
Rather, it’s more like turning a giant, heavy flywheel.
Pushing with great effort–days, weeks and months of work, with almost imperceptible progress–you finally get the flywheel to inch forward. But you don’t stop.
You keep pushing, and with persistent effort, you eventually get the flywheel to complete one entire turn. You don’t stop.
You keep pushing in an intelligent and consistent direction, and the flywheel moves a bit faster. And faster and faster. Then, at some point–breakthrough!
Cool thing is, each turn builds upon previous work, compounding your investment of effort. The flywheel flies forward with almost unstoppable momentum.
This is how you build greatness.
The Article That Has Been On My Mind for Months
I’ve been thinking of this article for nearly nine months. Maybe even longer. Probably before I even posted my first article on July 2, 2007.
Since then, each time I’ve posted I’ve always asked myself this question: “Is this helping you [the real estate agent] not only survive but thrive in this current market?”
I’ve always felt that posts that talk about this negotiation tip or that prospecting tip sometimes miss the point–the greater point: survival and greatness are founded on doing the basic but essential stuff over and over again.
Think about it: If you are lost child stranded in a forest on the side of a mountain, it only makes sense to teach you how to stay warm, find food, filter water and seek shelter. Ignore these basics and your chances of survival are slim.
That’s how I view your helping you carve out your relentless focus on the highest money-making activity you love to do best [what Jim Collins calls the Hedgehog Concept].
Carving Out Your Place in Real Estate History
By sustaining this relentless focus on what you do best, you build results. Those results in turn attract resources and commitment and clients, which you use to build a bigger, stronger business. A sustaining, compelling business. A business that competitors have to reckon with.
If you do that now you may not be a millionaire in two years [assuming you are not a millionaire now, of course] but you may be able to stay above the water with some greenbacks in the bank to boot.
Just think what will happen in a good market.
However, maybe you are in a hot market like Austin. Then you definitely understand this:
People want to feel the excitement of being involved in something that just flat out works.
When clients and prospects begin to see tangible results–when they can feel the flywheel beginning to build speed in an individual [whether it’s by consistent recognition of you by advertising or word of mouth]–that’s when most people line up to jump on board–whether they are clients or colleagues. They sense something big is happening and what to get on board.
This is the success of the flywheel. Success breeds support and commitment, which breeds even greater success, which breeds more support and commitment–round and round the flywheel goes. People like to support winners! Jim Collins
Examples of Financial Success in Non-Profits
In the real estate business the driver in the flywheel is the link between financial success and a growing reputation. Take a look to the social sector to see what I mean.
Does Harvard truly deliver a better education and do better academic work than other universities? Perhaps, but the emotional pull of Harvard overcomes any doubt when it comes to raising funds. Despite having an endowment in excess of $20 billion, donations continue to pour in.
Does the Red Cross truly do the best job of disaster relief? Perhaps, but the brand reputation of the Red Cross gives people an easy answer to the question “How can I help?” when a disaster hits.
Is the American Cancer Society the best organization for conquering cancer or the Nature Conservancy the most effective at protecting the environment? Perhaps, but their brand reputation gives people an easy way to support a cause they care about.
Conclusion
When you have a relentless focus on the highest money-making activity you love to do best, you will naturally create the flywheel effect.
This focus attracts believers, builds strength in your business, demonstrates results and builds the brand. It’s a cycle that feeds itself.
Consistency distinguishes the truly great–consistent intensity of effort, consistency with focus, consistency with core values, consistency over time.
Look at people like Joe Girard, Jim Rohn or Roger Dawson.
Enduring and great real estate or sales people preserve their core and stimulate progress, separating core values and fundamental purpose [which should never change] from mere operating practices, cultural norms and business strategies [which endlessly adapt to a changing world].
Remaining true to your core values and remaining focused on your Hedgehog Concept means, above all, rigorous clarity not just about what to do, but equally, what to not do.
And that will help you make your mark in real estate history.
Leave a comment if this post was helpful or if you have anything you’d like to add.
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Britney Spears Reputation Management Mistakes You Should Avoid
Reputation is possibly your most important asset. Thus, reputation management is crucial to your success.
The classic example of reputation management can be found in the small town.
Population is so tiny interactions between members are frequent. More importantly, most interactions are face-to-face and positively identified–that is, there is no question who said or did what.
Thus, reputation accrues throughout one’s lifetime. In a nutshell, one’s individual reputation depends both on one’s own actions and experiences. [Yes, reputation is a lot like your brand. Think back to Bill Leider’s post, “What Is a Brand?“]
I’ve said in the past that there are ways to go about becoming the most irresistible person at a party. Gauging by the comments, this topic resonated with people. But I should have added a warning: don’t become the party.
Britney Spears doesn’t seem to understand this.
The Grammy-award winning singer rocketed into success in less than 4 years and seemed to have ahead of her a brilliant career. But something unraveled. She failed to manage her actions, her experience–in essence, her reputation.
I like to thing she compromised her values [because, as you will see, she did have values] to please the world.
What follows is a brief history of her sad career to date and the the 6 reputation management mistakes she made. The mistakes you should avoid.
1. Spears posed for Rolling Stone.
The shot garnered widespread criticism for the mixing of wholesome innocence and sex.
But why the criticism? Didn’t Madonna do the same with sex and Catholicism [“Just Like a Prayer” video]?
I think the difference is that Madonna was controlled. Her image was not the same as her lifestyle. Besides, Spears was only 18, pointing to her lack of direction, experience and foresight. This will show up later.
The lesson for you: know what you are doing. And if you don’t, educate yourself. More importantly, figure out the consequences for your actions early in your life or career. Create a moral compass to live by. Anything that doesn’t fit into that narrow set of values, ignore. Think long term.
2. Spears declared she’d remain a virgin until marriage.
Noble, indeed. But hardly believable considering her childhood trauma, overt sexuality [see point 1] and relationship with fellow pop singer Justin Timberlake.
Spears’ statement is an example of a statement that lacks credibility. If you want to make a bold, noble statement, make sure that your lifestyle–both private and public–supports it. Otherwise you simply get the requisite cock of the head, the “yeah, right,” the wide swath people cut to stay away from you.
3. Spears ruined her restaurant through mismanagement and debt.
Early 2003, Spears entered territory she didn’t belong. And wasted dollars and time and reputation.
The same goes for us. We need to remain experts in our area of expertise. Going after money in an arena we know nothing about is doomed to failure. And failing by debt and mismanagement will remain on our reputation scorecard for a long time. Unless you move to a different state, of course.
4. Spears first marriage lasted 55 hours.
The reputation lesson to learn here is that you need to understand what you are getting yourself into. Otherwise you could look like a fool that people avoid [see point 2].
Spears requested the annulment to childhood friend Jason Allen Alexander on January 4, 2004, because she “lacked understanding of her actions to the extent she was incapable of agreeing to marriage because…[they] did not know each other’s likes and dislikes….”
The impact on Spears’ reputation is clear: she is either a naive or simple girl. Neither virtue that instills confidence in people.
If you want people to believe in you, steer clear of rash, uninformed decisions and opportunities. Build a foundation of credibility through perfection by making consistently wise business choices.
Your reputation will love you for it.
5. Spears does chaotic reality TV show.
Any particular reason you need to make public to millions of people your immaturity, abrasiveness or irrationality?
While this behavior might pay the bills for rock stars, it’s not likely to get you any kind of lasting success or brownie points. People might like to gape at your weaknesses, but it’s highly unlikely they’ll ever want to work with you. That wide swathe they cut for you…they’ll make it wider.
Of course, the best way to avoid publication of your weaknesses is simply to minimize them. And this means, investment in personal growth is one of the wisest decisions you could ever make.
6. Spears shaves her head.
Clearly, at this point, she is devastated by her life. She has no control over her emotions and appears to be tormented. From a reputation management perspective she needs intervention–someone to take control of her life for her.
For you this means having accountability, reporting to a mentor.
Don’t think you can weather the storm by yourself or that you are smarter than anyone else out there. An isolationist attitude will level you flat.
Find a friend, pastor, executive or relative you can easily trust and cultivate a relationship with that person. Ask them to hold you responsible for your actions. And to take you by the collar when you stumble.
Also, consider creating a small group of peers you respect to bounce ideas off of. Even if you have “the best idea in the whole world” and you know beyond a shadow of a doubt that it’s going to work, discipline yourself to run ideas by other people. They might just save your career.
Conclusion
Spears short music career is a history of a life spiraling out of control. Perhaps it is psychosis to blame, evidential in behavior that ranges most recently from crying uncontrollably as she walks her dog to faking a British accent to shopping manias at all hours of the night. But something like this doesn’t develop over night.
It’s sad, and overall speaks to the point that she needs help. And the final point to drive home to you is this: it’s probably safe to say that her misery was in part due to the fact that she surrounded herself with the wrong people.
Make sure you don’t make the same mistake.
The 3 Commandments of Online Marketing You Must Obey
For whatever perverse drive, desire or demon, this morning I worked through Hugh McLeod’s Global Micro Brands archive, Brian Clark’s post on Are You Someone’s User-Generated Content? and in the the same hour, I also read through randfish’s visual tour of the basics of social media marketing, twice.
Something was telling me I was gunning for a connection, searching for concepts to connect to bring this blog post to you.
That’s my convoluted way of saying this was divinely inspired. And that means you must pay attention.
The Moses of Marketing is about to speak. :0
1. You’ll Never Escape the Relationship
What stuck out to me most thoroughly in my research this morning–especially when I scrolled through the Power Point Presentation of social media marketing, which made made a very visual impression on me–was that social media marketing hinges on relationship.
It’s not about the blog, LinkedIn, Twitter or You Tube.
It’s about the relationship. It’s about the fundamental ways you make people follow you. It’s about building that cult. Those junkies.
They like you, and that is the fundamental reason they want to work with you. Joe Girard will tell you that.
But you don’t want to stop there.
2. You Must Build Your Personal Brand
Thing to keep in mind is this: there are lots of opportunities out there to market, whether on a micro scale or a macro scale.
Yet, you have to build your real estate marketing plan first. And your client has to be the cornerstone of that plan. But don’t forget about who you are.
What I mean by that is this: some pundits will say branding is dead or a waste of money. Now, branding for branding sakes is a waste of money.
I agree.
But there is a growing body of research that proves that branding will improve any marketing effort you put forth.
Think about the blogs that you follow most. What is it about them that you hang on them the most?
Definitely the writing, the wit, the humor, the information. But don’t forget about the clean design, the clever logo, the glamorous photo.
Moreover, this branding or presentation appeal exists in the living, breathing type, too.
You’re signature scarf, lavender zoot suit [had to throw that in there] or your charity work for Habitat for Humanity.
The point is you are separating yourself from everyone else, including your company.
Which brings me to my next point, the third commandment….
3. You Must Create Original Digital Content on Your Brand
One point about social media is that so few people are adding valuable content.
Most people linger half-heartedly on any social network at best. [With your striking brand and drop-em dead blog, you are ahead of the curve.]
I think part of people’s problems is the massive opportunity of new technologies flooding us. I stopped caring about the newest apps when I stumbled across a list of the 1,000 best Web 2.0 tools.
It’s like a plague.
And people abandon one thing for the next, helter skelter, void of a plan. The thing to remember about a blog is this:
People who abandon blogging [or neglect it] have gone from developing a digital asset of their own that could have real value, to becoming someone else’s user-generated content.
Blogs like Freelance Switch and Zen Habits have grown big fast because readers tend to value the independent publication approach…
Valuable content on a site you own is a classic win-win for readers and the site owner, while publishing on Facebook is a lopsided relationship that favors Zuckerberg and his data-hoarding cronies. [via]
The same is true with Active Rain.
You must remember this. What is bigger than your blog is your personal brand. Who you are. You are lost on Active Rain, Facebook, because that is not your content. Try and ask them to migrate your content to another independent blog platform.
But also remember that you are bigger than the company you work for. As Hugh McLeod says:
The grand-daddy of this space is probably Robert Scoble, who may work full-time for Microsoft, but whose brand is much, much larger than any job description they could give him; that’s worth far more than anything they’re ever likely to pay him.
Don’t let your company branding swallow you alive. There are certain protocols you have to follow. But you are smart. You’ll figure ways around it.
Very few people outside the blogosphere know what the hell he’s talking about. What I’m talking about. What Greg Swann is talking about.
They’re just now figuring out online stealth marketing, IE4, MySpace.
But perhaps the proliferation of users going online via mobiles will change all that.
Conclusion: Your Biggest Motivation for Obeying These Commandments
In a nutshell, you got three commandments you must obey:
1. Seek the relationship. That is the prize.
2. Become a valuable person by building your brand.
That means you simply must work on identifying what you can do better than anyone else in the entire world…and do that one thing the best. [Even if it means being a literary curmudgeon.]
3. Protect your individuality.
Now, perhaps your biggest motivator for obeying these commandments comes from Seth Godin soapboxing on monopolies:
The defectors know something you don’t. The defectors know that if they hurry, they can build a new monopoly, a monopoly you don’t control. They know that they can build a direct and long-term relationship with the end user, one that will survive competitive incursions and will last a long time. if they hurry.
And so, learn from these folks. you should hurry. You must hurry.