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shooting range

A cold business truth: you only eat what you kill

August 27, 2012

shooting range

You eat what you kill

How many times, as brokers have you heard this before? But have you ever really stopped to think about what it means? Obviously, it is a hunting metaphor, but when applied to your brokerage business, it could mean that getting it or not is the difference between eating and survival or starving to death.

The problem is that you can’t go hunting (or killing, as some like to call it) without first having a hunter’s training course, but even that doesn’t teach you how to hunt, only how to not shoot yourself or others – in the real estate world, think of this as your licensing course. But still, you will starve to death. So let’s blow this thing up and get right down to the details.

1. Trapping

Trapping is in fact not hunting, however, the result is still hopefully the same. In business, we set traps all day. Some are more successful than others. Like marketing, where you are trying to lure the business in through any various means, video, flyers, radio adds, etc., you’re baiting the trap.

2. Hunting

Hunting is a skill game. This is where you have trained to use your tools extensively and you are sitting by, patiently, all wide eyed, up early, waiting for anything to move in front of you.

3. Stalking

This is not hunting. This is where you have identified the business, you know the point of contact, and may have even studied the weakness of the operation. You don’t wait around. You intend on not returning unless the business is with you.

4. Fishing

Ok really who cares about fishing? Fishermen. Fishing is kind of like referrals where it takes a lot of previous years of experience before anyone wants to go with you.

The takeaway

What this means is that in order to “eat what you kill” or get paid only on the business you go after and close is you first go to know how. Determine what type of hunting it is that you do best and then slowly add in all the other components. I can tell you that all the old timers that I know both in hunting and in business know how and use a combination of all four.

Happy Hunting!

With 16 years of industry experience, earning his CCIM designation in 2007, Smith has held various leadership positions from CCIM Chapter President, CCIM Institute Regional VP, to Partner at McFalls & Smith International Development. Today, Smith is a commercial sales expert at Prudential PenFed Realty's Commercial Division, an Advisory Board Member at the University of Baltimore's Merrick School of Business, and a Professor at the Professional Development Institute. Smith has educated hundreds of REALTORS, investors, and small business owners, helping them find success through Commercial Real Estate.

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