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April 29, 2009
Volume 10 - Number 17
Streamlining the Business of Commercial Real Estate
In This Issue
The Swim is Cancelled
Sales/Marketing Tip
Hot Deals/Leads
Featured Internet Site
Past Newsletters
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TOP OF THE WEEK TO YOU!
(by realwired! CEO, Brenda Dohring)BDH Photo
 
Top of the Week to You! is designed to offer the inside scoop and latest of what's important in the world of technology as it relates to the commercial real estate industry.
The Swim is Cancelled
The swim is cancelled.  As we awoke to that statement booming loudly from the speakers set up for the St. Anthony's triathlon, there was a moment of confusion, followed by a moment of relief, followed by either disappointment or elation.   So let me back up.  The St. Anthony's triathlon this past weekend attracted the 4,500 participants or so from around the US and farther as usual, and the tension of that many folks preparing to race is always thick.  This year for us was a bit different.  I couldn't race due to injuries, my husband was racing but hadn't trained with his usual gusto and my son was doing this race as his first Olympic distance.  That wasn't, however, what was different.  This year we had out of town guests and so we sailed over to the race and spent the night in the marina on the boat, so it'd be a quick step off the dock and onto the track.
 
During the night the wind howled and the water looked rough...but not that rough.  We talked about it and mentally planned for it, but it sure caught us off guard when we heard the news...there would be no swim.  I tell you this because it was amazing how quickly the race directors got 4,500 "plus" athletes, to say nothing of the few hundred volunteers, to respond and reorganize.  Of course cell phones went on over drive, folks were twittering the news to team mates that were part of relays and it all went off smoothly.  I won't go into the detail of how triathlons are arranged by age, time, ability etc., but trust me when I say to cancel the swim and still get everything coordinated was an act of beauty.

So it's  this "change on a dime" that I'm thinking about as I write this week.  Could my company change on a dime?  Could yours?  Are our systems what they need to be to make us nimble?  They say the greatest advantage a small company (or a department in a large organization) has is its ability to change.  In commercial real estate, things seem to change slowly.  The markets don't change overnight.  Or do they?  Maybe they change overnight and we just can't see the changes.  Maybe we tend to move along on auto pilot.   But how cool is it when we can execute quickly?  How profitable can we be if when something changes suddenly, we're prepared?  When we're the ones ready to serve or deliver?   It's possible.   But it won't happen unless you're prepared so ask yourself, what's a "game changing" event in your world?  How can you prepare?  How successful will you execute?  Why?  The athletes (customers) were well served on race day, even though many were disappointed.  Would you be able to say the same about your clients and customers if the "swim was cancelled"?
Sales/Marketing Tip
Where Money Comes From
Special times call for special measures. And these are special times, indeed. Unfortunately most salespeople and business owners wait until they need new skills and habits before they make any effort to acquire them. Since the highest return skills and habits take considerable time to develop there is always a time lag before their use begins to bear fruit. The best salespeople are always training. Ongoing education is part of their plan. People who are always sharpening their saws suffer far less than their more complacent competitors in times of economic turmoil. Indeed, they usually realize nice gains in market share.

That said; here are several strategies that once mastered will yield results in bad economic times.

1. Target larger more affluent customers. People who started the recession with more money still have more money than those who started with less money.

3. Shoot for much bigger orders than you're used to asking for.

2. Look skeptically at the membership of the groups that you spend your time with. How often do you have lunch with CEOs of significant companies? How many of the people in your business network are affluent? If you want to make big sales and not fight about price, you'll have to deal with people who are richer than you are.

3. Become a competent public speaker. It's far more efficient to prospect to groups than to individuals.

4. Learn how to make a cold call without sounding like a tacky telemarketer. You're going to have to call people that you don't know.

5. Take your sales interaction skills to a new level. Stop pitching. Learn how to really engage your prospects. Learn how to get them to do most of the talking.

6. Invest real money in your business. If you don't believe in your business enough to buy your own stock, why should anyone else? (All of the CEO's that I know spend at least $10,000 to $20,000 per year on peer group membership. They drop several thousands of dollars at a time on high-quality educational events.) Don't say that you don't have any money. Practically all great businesses were founded on borrowed money.

7. Have fun. Life is short. Hang out with happy people. Both you and your prospects should be laughing a lot on your sales calls. Otherwise you're way to serious.
 
Mark Fitzgerald, Sales Training Institute, Inc., Tampa, Florida provides this column weekly.  Mr. Fitzgerald provides both group and customized sales training for professionals and companies.  For more information, please contact him by telephone at 813-831-5555, via email at mark@saleskills.com or visit www.saleskills.com.
Hot Deals/Leads
The Sherwin Williams Co. (Eastern Division) trades as Sherwin Williams at 3,000 locations nationwide and throughout Canada.  The home improvement centers, specializing in paint and related products, occupy spaces of 5,000 sq.ft. in freestanding locations, strip centers and downtown areas.  Growth opportunities are sought throughout CT, MA, ME, NH, NJ, NY, PA, RI, VT, WV and Canada during the coming 18 months.  Typical leases run five years with options.  For more information, contact Bill Siehl, The Sherwin Williams Co. (Eastern Division), 313 Technology Drive, Malvern, PA 19355
 
Little Caesar Enterprises, Inc. trades as Little Caesars Pizza at locations nationwide. The pizzerias occupy spaces of 1,200 sq.ft. to 1,400 sq.ft. in endcaps with a drive-thru, freestanding locations and strip centers. Growth opportunities are sought throughout the existing market during the coming 18 months. Typical leases run five years with options. The company prefers to locate near supermarkets, video stores and pharmacies. Preferred demographics include a population of 25,000 within three miles earning $50,000 as the average household income. The company is franchising.  For more information, contact Mike Atwell, Little Caesar Enterprises, Inc., 2211 Woodward Avenue, Detroit, MI 48201-3400

Basics Plus operates 10 locations throughout NY.  The stores, offering hardware and houseware items, occupy spaces of 700 sq.ft. to 1,200 sq.ft. in urban/downtown areas.  Growth opportunities are sought throughout the five boroughs of New York, NY, with a focus on Manhattan, during the coming 18 months, with representation by Winick Realty Group.  Typical leases run 10 to 15 years.  The company prefers to locate in high traffic areas near office buildings and residential areas.  For more information regarding expansion for Basics Plus, contact Joseph Isa, Winick Realty Group, 655 Third Avenue 8th Floor, New York, NY 10017

Gillroy's Hardware operates 26 locations throughout GA and MI.  The stores, offering hardware items and plumbing and electrical supplies, as well as lawn and garden items, occupy spaces of 8,000 sq.ft. to 10,000 sq.ft. in freestanding locations.  Growth opportunities are sought throughout the existing markets during the coming 18 months.  The company prefers to acquire sites.
For more information, contact Bob Morgan, Gillroy's Hardware, 6429 West Pierson Road, Flushing, MI 48433
 
Like these leads?  Want more?  Go to the Dealmakers website for a FREE Trial subscription to The Dealmakers, the nation's weekly news source on retail real estate.
Featured Internet Site of the Week
Process Library
Uniblue's free and comprehensive online library of processes is for everyone who needs to know the exact nature and purpose of every process that should, and should not, be running on their PC.  www.processlibrary.com
Past Newsletters