Property Investing – Am I Buying for Profit or Prestige?

All of us have emotional preconceptions and assumptions. They are reinforced and fine tuned by our experiences of life, be they traumatic, disciplined or consistent. Our brains are designed so that the emotional patterning centers mature while we are still in utero, whereas our rational centers begin to mature at about 4 years old and finish maturing through adolescence to early adulthood. Non- rational emotional patterning is therefore a design feature!!

Most of us have some common preconceived ideas, historically these were things like the earth was flat, and we couldn’t fly. Now they are more likely to be about how we structure our lives.

Why do over 3 million people in Sydney need to get up and go to work at the same time, every day and cause massive traffic congestion? Why do we think this is normal? Is it normal? Does it work for us? Why do we keep doing it?

As well as commonly held patterns we all have a few family specific ones and, a number of which are unique to our experiences of life. Because they are a design feature, they are supposed to be there. Most people seem to presume not and try to weed them out or ignore them and hope they will go away.
However, a big property purchase looms. Our money is involved. For most people our emotional patterns will be triggered and we will react. The issue isn’t that we have a reaction, the issue is the reaction becomes our focus and we try to fix our upset. In the process we forget to focus on the property transaction!

Property transactions are very complex procedures with finance, legal, vendor and purchaser coordinating to a finite window. Much expertise and sensitive negotiation can be involved. There are few opportunities we participate in with a more immediate effect on our bank balance, cash flow and, for many, sense of self. This is not a good time to be distracted!!

What are the sorts of things that distract us?

We could look at many behaviours, however we get simpler pictures if we examine motive, sometimes conscious, sometimes hidden a little deeper. A client might be worried about how they are perceived. Property becomes a tool to prop up their perception of themselves through others thinking more highly of them. These are often people who love to drop property reports into general conversation. Hoping to snare some self esteem through others’ reactions.

These people buy for prestige rather than wealth creation. They want an address and landmark that their mother-in-law, social set and the boss approves of and almost envies. Glossy prestige marketing lures them to overpriced deals that fail to capitalize to expectations. They may go sour on the concept of gaining wealth through property and find some other way to prop us their image. However, did they ever really look at property with open eyes to examine the business of creating wealth?

Other clients are more concerned about doing it the right way. Hence every detail must be managed. They find professionals who do things their way and then collude with them about the rightness of the way they do things – a very circular way to complement yourself! Because of the level of detail required, due diligence takes on gargantuan proportions. Many deals are missed. Costs rise as professional are paid for their expertise.

In their frustration, they may find a guru, suspend disbelief and follow their advice. Often this is more in line with their perception of the gurus qualities than the particulars of the property acquisition. Did they ever really go to find property or were they looking for the right way and property was just a thing to do to find it?

These two examples sound extreme and yet are very common. Money is one of our great human experiences. It draws out of us unknown or unrealized assumptions about who we think we are in relation to money. Some of this is great and some of it is self limiting. To be in the business of wealth creation, wealth management, asset retention and cash flow management we need to be willing to make our property business the priority and give up a few of our emotionally patterned preconceived ideas. This is not a job for the faint hearted.

What is Business Development?

Too often, I have encountered business managers hiring Sales people and classifying them as Business Developers. The same holds true when managers call their Sales people Marketing Professionals. Main reasons behind this misclassification are twofold: First, many people DO NOT understand what the differences are between sales, marketing, and business development. Second, organizations do not accurately recognize which of these functional areas need help to drive revenue and how they compliment each other. These misunderstandings of disciplines cause unrealistic expectations and failure to achieve goals.

Business Development (Biz-Dev) is often misunderstood. It is often times mistaken as purely a sales role and other times as a marketing initiative. Well, it is a little of both, but it is also much more. Understanding what Biz-Dev is and what it does can focus the strategic direction of an enterprise, which ultimately creates new opportunities. Biz-Dev can be sales oriented, but it also can act as an operational function to support sales. Biz-Dev supplements marketing, sales, operations, and management. All of these functions are dependent upon each other. Biz-Dev is part sales, part marketing, part strategy, part planning, and part management. Biz-Dev can also work on promotion of an enterprise or even relationship building functions.

Isn’t a business developer’s main job expected to generate sales? Isn’t the lifeblood of business driven by sales? Yes, the ultimate business goal of an enterprise is to gain and grow sales. Even non-profit organizations need to raise money to survive. Without sales there is no revenue, without revenue there is no working capital, no working capital means no sustainability, and so forth. However, all units in an organization affect the outcome of sales. A company must define its purpose and objectives within their business plan. Upper management must communicate directives to staff and control processes. Employees are accountable to perform duties within their unit of responsibility. All units must work cohesively with their output contributing to the common goal of the company. For example, marketing cannot initiate a promotional campaign without input from finance, otherwise budgets and production costs will soon run into chaos.

Simply said, Biz-Dev is management process that uses resources available to an organization and coordinates plan activities to achieve goals. Sometimes the goal is increased sales, but other times an organization needs improvement or aid in another part of its operation. Examples that are not exactly sales oriented include business planning, administrative refinement, market research, finance, general management, and more. The bottom line is Biz-Dev can perform multiple initiatives to achieve a goal that will improve a functional business process resulting in opportunity. Think of Biz-Dev as project management for sales.

Understanding the various roles Biz-Dev can perform will improve the focus of your enterprise and help achieve its goals.

How Business Data Can Be Valuable in Lead Generations and Sales

Leads are very vital for any business to succeed. It is very necessary to have a perfect way of maintaining and administering your lead. Otherwise, the business prestige will be lost by distributing incorrect advertisements to incorrect persons. Business data can be utilized in several ways. The methods which we can benefit from lead management are making the buyers to get the leads faster whether it is selective or non-selective, informing or following and several other different methods.

Business data is constructed in such a way that it will assist in maintaining the company leads that is gained in several methods. Leads are not meant for a single purpose all the time. One of the methods in which leads can assist in your business includes making the buyers to get their leads faster. Nowadays, people always need very fast reply while they are online. It will help them to get knowledge of what is being done and the time when we can give them the leads more quickly so that they don’t need to wait. It will increase the trust because buyers will get the confidence that they can depend on us for their needs in the correct time.

One more thing that a business data can provide is giving selective leads to a single person or non-selective leads if we have to supply them to different people at a time. This will be very beneficial when we have to maintain our leads in this manner as there is no need to refer the database or provide the information in a manual way.

Business data will help us arrange ourselves in a set up with our contacts and information. If we have leads of many different methods, they should be categorized in a manner differentiated by industry which will provide leads that are suitable. If leads that aren’t unsuitable for our customers are provided to them, then it will create a bad impression on us. If we have arranged our leads in a correct set up, then it will reduce the risk of providing incorrect leads to incorrect clients.

A Business date will assist you to study on how to make reports and follow the leads that are provided to our customers and for sales needs too. In this manner, we can observe how the business is progressing and how the strategies are working out. Informing and statistics are also very vital to showcase for upper management and it gives us a way to fix our targets for progressing.

Recruiting a lead generation management or collaborating the business data into the business is a perfect decision for gaining a everlasting high success. We must have the talent to provide a higher amount of leads to customers or provide one perfect suitable lead to customers. A proper set up comes with a proper maintenance and if there is not enough proper arrangement set up, then it will increase the risk of losing confidence in your customers. We can gain more profit only when we are established as a trustworthy brand in front of our customers. A proper arrangement will assist in proper informing and following leading to high success.