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Op/Ed

3 business tips subtly offered in bingeworthy series, Stay Here

(EDITORIAL) Stay Here is not only our new favorite Netflix show to binge, it will subtly educate you about business along the way.

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stay here netflix

Thanks to the dawn of Netflix, we’re all accustomed to binge-watching our favorite shows, then feeling dead inside when there are no more episodes left, and going in search of a new series to obsess over. My newest favorite is Netflix’s Stay Here, starring America’s Sweetheart (sorry, Paige), Genevieve Gorder, and former-DJ, current broker, Peter Lorimer.

They’ve tapped into the wildly underserved (by HGTV, TLC, and others) short term rental market and help owners transition to mini-hoteliers. We watched the entire series in one night, thinking it would be another lame home makeover show, finding ourselves surprised by the quality, and eager for a second season.

Meghan O’Keefe at Decider similarly asserted that she was skeptical going into the series, but said, “I was soon transfixed by the show.”

What stood out to O’Keefe is that their motives are ultra clear (to promote these properties) while traditionally, makeover shows promoting designers’ brands are more opaque with their intent.

What stood out to us is how universal Gorder and Lorimer’s business advice was, with four consistent themes woven into each episode:

1. Focus on what sets you apart.

Every professional is scared of losing any opportunity, so it is common to keep your marketing broad. For example, if you ask a Realtor what their ideal referral looks like, almost everyone says, “I help people buy and sell homes.”

Uh, which people? Which types of homes? Do you focus on buyers or do you focus on sellers? If you say you’re a Realtor, we already know that you help people buy and sell homes, but we’re not going to refer to you over the 8,000 other agents int he city.

The fear of missing out on opportunities overwhelms entire industries, but saying “I help first time home buyers in downtown Dallas” or “I love working with people that are downsizing” is far more memorable, and plants a seed of need in peoples’ head. In two years after meeting you at a networking event, if they hear of a first time buyer in Dallas, they’re going to recommend you in a heartbeat whereas they would have already forgotten you by now.

The same can be said in Stay Here. The duo grooms every homeowner to understand what makes them stand out, and focuses squarely on that with every ounce of their effort. And every business professional should do the same.

stay here firehouse

2. Refine your model.

Many of the owners in the show frequently treat their short term rental as a hobby. But Lorimer (whose focus is the business) coaches every homeowner into understanding that if you’re taking someone’s money for something, you must deliver.

But what are you delivering?

Many people enter an industry and don’t set up any sort of business model, it’s more like throwing spaghetti at the wall and hoping something sticks. And this tip is one of the most subtle offered by the show.

Without spoiling too much, one episode of Stay Here had an owner that ran out of budget for furniture, so in the town that is a destination for antiquing, they went to a few shops the owner knew, and curated fine furniture and art in the rental that is for sale in the actual unit. I was blown away at the creativity and how they not only helped design an interior, they gave the homeowner a business model (short term rental owner acting as a boutique hotel owner with antique and art curation).

Brilliant. What are you doing in your industry that is different than your competitor? How are you partnering with ancillary services in creative ways that no one else is? Consider your model and how it can be refined (and trust me, after watching that episode, you’ll be inspired to do just that).

3. Create a social media moment.

Every episode has a “social media moment” in the form of a bold interior design choice that offers a space that is so photogenic people will insist on taking selfies there.

And for the first time ever, a show understands hashtag activation, giving each property a unique (albeit verbose) hashtag that is woven into each property visibly, on the website, and throughout social media efforts.

The point is that they empowered the renters to do the social media FOR the homeowner.

How does that convey to your business? Obviously, if you have a storefront, is there a spot that is selfie-worthy that includes a visible hashtag? Whether it’s a mural on the side of your building or a unique display, if you have a standard store with no “social media moment” offerings, you’re not giving people an excuse to photograph your shop and share it.

Maybe you’re a Realtor – is there something in every listing that is worth photographing, and a hashtag that goes along with the property? Hair stylists – is there a post-design space that is luxurious and all about taking selfies, even if it’s a simple backdrop in a well-lit corner of your salon?

The bottom line there is to give people a reason to do your social media marketing for you.

No matter what you do for a living, be sure to go stream Stay Here – it’s great brain candy with so many actionable pieces of advice that can be translated to so many other types of businesses!

Op/Ed

Technology gurus are marketing you bullshit, here’s what really works

(OP/ED) Technology gurus have fun tools to sell you and tricks to teach you, but I can tell you firsthand that it’s mostly bullshit.

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woman holding phone representing technology

I am known as a technologist. An avowed geek. An unapologetic adopter of shiny new objects. My passion is finding out how technology – specifically the internet, can make my job better, faster, and more profitable. It is also figuring out how the consumer intersects with the internet and how I can leverage this to create more business.

In years past, I bet heavily on internet lead generation, customer relationship management (CRM) systems, and video email marketing. I researched the best platforms and practices, sought the counsel of the foremost experts and hired the best talent.

I had some great wins and surprising losses this year. I’ll get into that in a bit… but I realized that the real estate industry often markets tech on the internet as a replacement for human connection, as a convenience for the agent, and as a crutch for a basic lack of knowledge and expertise. In the real estate industry, technology is marketed as a shortcut to profits and that is complete bullshit.

Fair warning- this post is likely to get you riled up and deny that any of it applies to you. That’s cool. It probably doesn’t, so move along. I am not trying to derail your successful train. But this category of business tools creates stress for a lot of agents who feel left behind or “less than.”

About those gurus on stage at your favorite conferences

Listen to the gurus on stage and the vendors hawking their wares. According to them, the internet can provide a never-ending source of people who want to buy and sell (leads). It can eliminate the need to chase signatures or show homes. It can sell homes without the need to open it to strangers or tell you a home’s value instantly and automatically.

Wow. Get clients without dealing with real-time rejection. Show and sell homes with no physical effort. Find values with no expertise or local knowledge. Makes you wonder what human Realtors are going to do. Flip burgers, maybe?

Internet-based tools are an amazing enhancement to traditional skills and techniques, but it is often promoted as the miracle cure and wholesale replacement of skills and knowledge. I call this bullshit – but our industry is buying it.

The enticement of internet lead generation

Let’s start with internet lead generation. The surface promise is very enticing. Write a check and get a never-ending stream of people interested in real estate who have given up their contact information. No physical effort. No skill is required. No face-to-face rejection. Who wouldn’t sign up for that program?

But here is the problem. It takes a lot of money to do internet lead generation effectively. It takes a lot of resources to follow up and it generally takes time to create a sale. When you factor in all of these resources, internet lead generation is far sexier on paper than in practice.

Now, this does not mean lead generation isn’t a viable way to run a business. But it is best done in a team setting with proper resources to handle these leads effectively. In a team setting, internet lead generation is less likely to divert attention away from relationship building. And, for a single agent, it is a very dangerous place to “bet the farm”.

So I can pay more but get the same results?

The number of portals and agents competing for attention increases every month, so the resources required to stay level will also increase. This means it continually takes more money to get the same result… and this is where I call bullshit. The average agent is only seeing the tiny fraction of people making a profit from internet lead generation and they have no clue how costly internet lead generation actually is.

And that is another problem. How many agents use internet lead generation as a replacement for the much less “sexier” work of face-to-face prospecting? My guess is quite a few. I’ll confess. I tried replacing my traditional prospecting with a lead generation site. It was bullshit.

Another bullshit problem: social media

Here’s another technology coming between the consumer and the agent. Facebook, Twitter, and email marketing- loosely categorized as social media. When used as an easy, thoughtless, broadcast machine (as most agents do) the agent is following the idea that being seen- frequently- is the way to make the phones ring.

Agents have been doing this sort of “look at me!” advertising with postcards and print advertising for years. However, print costs lots of money and most will give some thought and attention before doing each piece. Social media is essentially free and nearly effortless, allowing agents to completely alienate their audience with their avalanche of tone-deaf posts and emails.

Now, at least this stuff is nearly free and the agent has resources left over for traditional relationship building. But, how much damage is done to potential real-life relationships with poor and uninformed social media tactics? The bullshit part is that free and easy should not mean tacky, thoughtless, and loud.

E-sigs aren’t the next coming of Christ

Here’s another thing. I thought electronic contracts and e-signatures were the best technology tool since sliced bread. And, used properly, it still is. Contracts can be signed at the consumer’s convenience and that can be a huge benefit for busy lives. All too often, though, e-signatures serve the agent or brokerage more than the client. There are situations where the client is best served with an in-depth explanation of the documents, but they are given an e-signature package instead.

This was one of my hardest realizations – I was completely guilty of choosing convenience over great representation. I told myself it was for the convenience of the client, but it really made my job a lot easier. This is not cool, it is bullshit.

I love technology, but…

Now, don’t get me wrong. I am still the technology fan girl you know and love. But with each passing day, I am convinced that a lasting and enduring business is made with an authentic connection to the people in my community. Technology simply gives me the opportunity to make more of those connections.

I meet and interact with hundreds of people on local Facebook groups and these interactions have led to wonderful real-life meetings and lasting relationships. It is an amazing and efficient layer to my traditional community building and prospecting. But it is a layer. Nattering on Facebook all day long does NOT create enough engagement to create a business.

So, what were my wins?

I used technology to publish my internal checklists to my clients, bringing a new level of transparency and accountability to our transactions.

I went deep on an unreasonable number of CRM systems and I am getting close to having a system that enhances both the creation of business as well as the transaction.

I went even deeper into the concept of the paperless office. There are a lot of benefits to a paperless office, but for the consumer, it means anyone on my team can answer any question, anytime, anywhere.

And my losses?

What were my losses? The biggest loss was my investment in internet lead generation, and that was a real surprise. I invested heavily in the platform, in the tools, and in the human resources necessary to make a profit.

I learned what it takes to make this business strategy work, but I also learned that I would rather use my resources to build a local community.

Another “loss” was the lesson learned on e-signatures. I have retooled my process to make sure that certain critical points in the process- the purchase contract, escrow instructions, and going over disclosures, are no longer a simple e-signature packet.

Moving forward – join me?

As I enter the next year, I am focused on a few principles. Belly to belly rules. Technology done right is invisible. Build a community to build long-term trust. Make a difference.

Wanna join me?

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Op/Ed

10 productivity tips to get the most out of yourself and your team

(EDITORIAL) Keeping up productivity can be a hard goal to shoot for, so sometimes It helps to see what others are doing. Here’s our list of 10 tips!

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productivity in a team

Funny thing about inverse relationships, they are so counterintuitive. Like working hard. That is an example of doing what you think will be beneficial, but usually just makes the job what you expected, hard. When it comes to productivity, harder isn’t smarter, as the saying goes.

And, if you are sick of the word “hack” we hear you. But, finding ease in work will allow you to be more productive and with better results.

We offer you this list of stories to meet your productivity needs. Here’s to finding work-life balance, seeking ease in the moment and rocking out a productive day!

1. If you’re trying to be more productive, don’t focus so much on time management. Instead, consider energy management to get more out of less effort.

2. Meetings suck. Wait, I mean they are a time suck. Yeah, that’s it. Everyone knows some meetings are unnecessary and could easily be handled through email. Yet, many supervisors are hesitant. But, there’s an app for that now. Here’s to meeting less and actually getting work done.

3. Kondo your desk, for God’s sake. If you say you are more productive with a messy desk, yet you have a sandwich from last week and those TPS reports you were supposed to turn in weeks ago somewhere under a pile of crap, you need to clean up your act. Nobody wants to get a report covered in coffee, chocolate, and mustard.

4. Are you agile? I mean, really. Is your team as productive as it could be? Whether you are a PM or a real estate agent, if you need a tool that helps your team stay agile and nimble, this will help you and your crew kick ass and take names.

5. Cut the team some slack. Too many messages and you forget what you were originally doing. Slack thought about that and has a way to make the app work for your team so you can be more effective and keep the workflow moving.

6. Working remotely has some serious benefits, notwithstanding working in your PJ’s. While it is the norm now, convincing your boss you will actually work in the future and not binge on Netflix may be the challenge. And, for many folks, working from home is a much more productive option long term. Yet, anyone who has worked remotely also knows it can be easy to get caught up in work and miss human interactions, leading to burnout. Here’s how to make the remote transition work for you.

7. Sometimes more is less. That is the truth when it comes to work where quality beats quantity all day long. Our 9-5 workdays may be good for some, but not for all. And, putting in 80-hour weeks may seem righteous dude, but what do you really accomplish? Kick productivity in the butt and consider are you using your hours wisely.

8. Want to be a baller in the workplace? Then get focused. According to the experts, those at the top of their game aren’t necessarily working harder or smarter, they are just hyper-focused. Here are some good habits to have if you want to get ahead.

9. If it seems everyone has a podcast, you are correct! Some of those podcasts are useful, especially if you are trying to get ahead and find ways to use your productivity to the fullest. Here’s a list of podcasts that will fill your free time with useful information.

10. Creative folks love to start new projects. They can be like kids in the candy store any time they have a new idea they must explore. The problem is that whether you are an artist, writer, graphic/web/software designer, or developer, you may start a lot of projects and finish a few. Here’s how to finish what you start!

By now, you know what information to keep and you are ready to get your rear in gear. We wish you all the success with your future projects. We know you will be diligent and hyper-productive!

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Op/Ed

You lost a rockstar employee – don’t lose the band too

(OPINION / EDITORIAL) Bands lose lead singers all the time and sometimes they are the better for it. But what if your business loses a rockstar employee?

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Smiling rockstar employee accepting paper from off screen.

Turnover is one of the largest expenses a business may have to prepare for; a study by Employee Benefits News estimates that the dollar amount is equivalent to a third of an employee’s annual salary. Indirect costs arrive alongside this, which can include the loss of employee knowledge and added expenses to invest in searching for a replacement. The recruitment process can be lengthy and has many steps and phases, and hiring may require paying bonuses, higher salaries, or providing additional benefits.

As many as 40% of employees quit in their first year, and when all is said and done, it might be 50-70% of that employee’s salary might suddenly be lost.

This can present a large problem if a top-performing and well-liked employee (what some recruiters might call a rockstar employee) leaves. Under the worst scenarios, it can cause a domino effect; remaining employees might begin to question why that person chose to make their exit, and this may manifest as a series of departures. From a management standpoint, this is catastrophic and can lead to missed deadlines, an increased burden on the remaining staff, and generally result in less quality output.

Contingency plans should be in place to help mitigate this situation, and all companies should – at some point – consider what their best options are to stop a destructive downward spiral. Jokingly – if a little morbid – this is sometimes referred to as the bus factor, which literally confronts this question by asking what happens if ____ were hit by a bus tomorrow? After all, if your critically vital employee suddenly could not show up again – literally never again – what can you do to prevent cascading effects?

Let’s consider the best things to do in this situation in order to prevent insert-your-favorite-natural-disaster-term-here when you suddenly learn your unicorn is on their way out.

Ask Questions and Listen

First and foremost, it’s best to ask the rockstar employee why they are leaving and make a sincere effort to understand their decision. The benefits of exit interviewing are known and can help immensely in this area. Even under the best circumstances and with an employee leaving without any negative reasons, there is likely still something they’d like to see improved, and this can be applied to those who remain.

Speaking of those remaining employees, it’s best to talk with them as well. Be transparent and genuine – ask about current moods and morale, get their perspective on the situation, and how they think it might affect their work moving forward. If the exiting employee did give any advice about improving the work environment, you can inject this into these follow-on conversations to see if others share that opinion, and then use those overlapping patterns to understand what to do immediately.

Surveys can be sent out as well, and this might provide a quick response and some metrics to go on. This should be used in conjunction with interviews and one-on-one conversations. During these engagements, listen intently, acknowledge any issues that may have been uncovered, and explain that you are committed to ensuring a smooth transition and will proactively address any problems that have been revealed.

Futureproofing

Reassure employees that their work is meaningful and recognized as vital and important, and commit to finding a replacement in order to prevent concerns that an increased workload will remain in place for an extended period of time. This will require taking introspective looks into the current workplace and its metrics, and then channeling these into efforts outwardly. In other words, the future is still bright, and all the brighter with their contributions.

It’s likely that employees may start to look at their work pessimistically – “Why should I stay if what we’re doing couldn’t keep ___ here?” This is why management must act quickly to assess the situation and provide direct answers. Explain that goals are still attainable and emphasize each employee’s importance.

Happiness

Perhaps the most abstract – yet arguably most significant – thing to worry about is the overall happiness of employees, and how to best continue this in an upward trajectory. There are plenty of ways to do this, with many revolving around frequent check-ins, seeking out ways to improve skillsets through education, and providing – if possible – promotions now that voids exist. After all, if there is an open opportunity within the organization, it will likely bolster the entire team to see someone move into a new position (and provide inspiration).

Engagement is key. There is no substitute for this – employees want to be heard, want to know they matter, and will respond to such efforts positively. In addition to the strategies above, it might be a good time to consider morale-boosting events while redoubling efforts to improve the workplace.

Conclusion

Focusing on what to do now with plans in place will help provide a solid head start. Engage and speak with (not just to) employees, understand their concerns, and actively respond to anything that repeatedly emerges from such conversations. Reassure by shifting focus toward the future of the company, and maintain employee happiness by being transparent and considering ways to reorganize hierarchy through promotions.

When a favorite employee leaves, there’s always going to be a rippling effect throughout the office. Turnover cannot be fully avoided, but there are several ways to cushion the blow and continue to move forward in an efficient, agile manner.

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