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Project Hatch: Advice directly from successful people

(BUSINESS) Project Hatch shares stories of major founders around the world in an effort to help others grow professionally and “found” their dreams.

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project hatch desk

Even if we’re at the tip top of the professional food chain, there is always something that we can learn from those who came before us. Additionally, there is always something that can be learned from peers (or mentors if you’re continuing the career-ladder climb).

This is the intent of Project Hatch, which is designed to tell the stories of founders in order to inspire others who are looking to go down that path. “The best way to learn how to build a company is from those who have done it before,” according to Project Hatch’s official website. “Project Hatch features case studies and analysis from the view-point of founding teams.”

Examples of case studies include some current heavy hitters, such as Tyler Handley – founder of Inkbox, Alex Zaccaria – founder of Linktree, and David Ciccarelli – founder of Voices.com. Their stories include where they are and how they got there.

“So for us, the primary drivers of growth have typically been performance marketing and the associated word of mouth and the organic and return off that. So Facebook, Instagram, Pinterest, Snap and we’re experimenting with TicTok right now,” – Tyler Handley

“We created a solution to a problem that we thought was unique to us; but it turns out millions of other people had the same problem. One of the key moments of validation for us, was early on, when the platform was uploaded to Product Hunt,” – Alex Zaccaria

“Exactly two years ago, we raised $18 million USD from Morgan Stanley Expansion Capital out of San Francisco. As growth stage equity investors, they were attracted to a large and growing market for voice and audio products,” – David Ciccarelli

The case studies include four key areas that are broken down for major industries. These include: ecommerce, media, agency, and SaaS. With ecommerce, you can learn how to create scalable stores; with media, you can find out how media giants receive hundreds of millions of views on different social platforms; with agency, you can learn how to be more innovative in order to standout in today’s competitive market; and, SaaS offers the most passive form of online income when done correctly, so they feature those who have done it (and are making $600k per month!)

Project Hatch boasts over 15,000 monthly users, over 33,000 monthly page views, and 111 monthly interviews. The site also includes run downs of celebrities’ net worths (so, be sure to look through that if you want to feel bad about yourself).

This is a solid platform that offers something interesting for everyone at any point in their career. However, I would be remiss if I didn’t mention that, since there is so much professional advice out there, don’t go overboard looking into so much of it that you forget to do your own work.

Staff Writer, Taylor Leddin is a publicist and freelance writer for a number of national outlets. She was featured on Thrive Global as a successful woman in journalism, and is the editor-in-chief of The Tidbit. Taylor resides in Chicago and has a Bachelor in Communication Studies from Illinois State University.

Real Estate Brokerage

Customer satisfaction feedback comes best from your own service

(BROKERAGE) How you collect feedback can determine whether your service actually improves or not. #science

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Woman looking at laptop reading customer satisfaction surveys.

Every significant endeavor utilizes measurements and scorekeeping to record activities and progress. The most trivial of human pursuits often involves record keeping and statistical analysis. While the sales and production side of real estate services are measured in-depth, the service and customer satisfaction side of the business enjoys less measurement, scorekeeping, and analysis than one might find associated with the performance of a neighborhood Little League team.

What does this truly say then about the importance many brokers, owners or managers place on service delivery, customer satisfaction, consistency, and service performance?

It’s true that a few organizations do attempt to measure service performance by means of a customer satisfaction survey. Most of these programs are produced and administered internally. The surveys are sent under the company banner and the company tabulates the results.

First, when a customer is asked directly by the professional or the company for performance/satisfaction feedback, that feedback is always more positive than what is obtained by an independent, third-party asking the same questions.

This is known as the halo effect. Consumers are more diplomatic in their response to the person or company that provided the service.

Second, internal service/satisfaction assessment programs typically develop standards and objectives to validate the belief that good service is already being delivered. Thus this positively biased feedback data suits the objectives of the internal program just fine.

It’s just that measurement of those areas of service performance that sellers and buyers feel are important is not taking place.

For those more serious about customer service satisfaction and service performance assessment, there is recognition that the halo effect lessens the value of the data for internal use, and that keeping score of one’s own results has less credibility externally.

Instead, they seek the objectivity and credibility that third party validation of service assessment can provide.

Ironically, even without expert resources and objectivity the attention that measurement brings to the organization will effect positive results and performance improvement. This phenomenon is known as the Hawthorne effect.

The effect was first noticed in the Hawthorne plant of Western Electric. Production increased not as a consequence of actual changes in working conditions introduced by the plant’s management, but because management demonstrated interest in such improvements.

Unfortunately, this phase of initial improvement is not sustainable. Sustaining improvement requires more than measurement and leadership interest. Action steps that result in the actual improvement of the situation must follow collection of data.

Measuring service results and satisfaction in the real estate organization is an important first step. It will certainly gain the attention of the organization and send a serious signal.

Sustaining organizational interest and performance improvement requires more.

It requires systematic and timely feedback, objectivity, systems and service delivery processes, coaching and recognition/awards. But it really all does start by keeping score.

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Real Estate Brokerage

7 red flags that could scare off potential home buyers

(BROKERAGE) While houses are selling quickly right now, there are some things that will almost definitely turn a home buyer off.

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Open home and kitchen that home buyers will be considering.

The process of buying a home is incredibly overwhelming – as is the process of selling a house. There are so many aspects that potential home buyers are investigating when they enter a spot that’s for sale.

Without realizing it, many sellers can be hurting their chances of selling by overlooking simple things. The Ascent recently determined seven things that scare away potential buyers. Let’s dive in.

We all know the market is hot right now and houses are selling like crazy, but there are certain things that just cannot be ignored.

  1. Listing an unrealistic price: Be realistic about what your house is worth and don’t be misleading. People can easily search the worth of the houses around yours and do some digging to find out if what you’re listing is representative of what the house is worth.
  2. Skipping the deep clean: This is never a good idea – especially this year. The cleanliness of your house is akin in the buyer’s mind to the overall upkeep and maintenance of the house. They assume that if you don’t clean, you don’t care.
  3. Personalization: Since you’re moving, try and pack up some of your family photos and leave up less “personal” items (or color choices) to better help the potential buyer envision themselves living there.
  4. Expecting payment for features that are high maintenance: Things like pools and hot tubs don’t always return their value. Many home buyers aren’t interested in keeping up with that maintenance and it’s unreasonable to charge them for the assumption that they’ll keep up with it.
  5. Believing “It’s okay if this doesn’t work”: If your shower head is broken, the A/C is messed up, or a ceiling is cracked, you should do all you can to replace or repair it before listing your house. If you can’t, don’t expect anyone to pay the full listing price.
  6. Being nose-blind: Like those Febreeze commercials tell us, it’s common that we go nose-blind to our surroundings simply because we’re so used to them (i.e. a smoker doesn’t notice their house or clothes smell like smoke). Go back and check off deep cleaning, and then ask someone you really trust to come in and tell you how the house smells to an outsider. Trust me, this will be one of the first things a buyer notices.
  7. Leaving pets home during showings: Due to the unpredictability with strangers – or the potential allergies the strangers may have – it’s best to make arrangements for your pets to be elsewhere during showings.

At the end of the day, you have to look at your house from an outsider’s perspective. Getting feedback and opinions from friends and family can help this process.

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Real Estate Brokerage

Should brokerages have an internal communication strategy?

(REAL ESTATE BROKERAGE) It’s not common to have an internal communication strategy, but your brokerage should. Here’s how to set it up.

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internal communication strategy

It’s never a bad time to start fresh, personally and professionally. Help your organization by taking into account what’s happened in recent history and where you want to go. From there, you will determine what steps are necessary to achieve your goals.

Writing an internal communication (IC) strategy can be the first step in mapping your goals and is virtually unused in the real estate industry. According to All Things IC, an “internal communication strategy is like a map, an outline of your organization’s journey. It’s the big picture of what you want to achieve.” This can be done by a brokerage, or an independent agent alike.

Great! So, where do you start? First, know what an IC strategy needs to address. This includes the where, how, what, and why.

Write down the current state of the company, then state where you’re heading, or where you’d like to be. Create a list of objectives to support this.

Then break into your “how.” Explain how you are going to get to where you want to be, as well as how long it will take and why.

You’ll then venture over to a “what” by outlining what is involved along the way to your goal. Then, throw in a little “why” by explaining why this approach is the best for the job.

Go back to “how” and tell how you’ll know when you’ve reached your destination. This part will require tangibles, measurements to support a change in reaching your goal.

Finally, give one more “what” and address what will happen if you don’t change the way you’re currently operating. If things are working for your organization, that’s great! But, there is always room for improvement.

For an internal communication strategy, it is important to include the following: a title, an issue/purpose, structure, executive summary, audience segmentation/stakeholder mapping, a timeline, channels, measurement, communication objective, approval process and responsibilities, key messages, and an appendix.

Now, what was missing from the initial inclusions was a “who.” So, who should be the one to write this document?

Well, it needs to be someone with a strong understanding and implementation for internal communications. This can be done internally by someone on staff who is an expert; or, it can be outsourced to an expert. Regardless of who writes it, make sure it is clear and concise for the audience at hand.

What is most important to remember is that writing an internal communication strategy is just half the battle. Your work is not done once this document is agreed upon by the leadership team. And finally, you must be willing to enforce what’s written on these pages and be ready to make the changes you’ve outlined.

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