Pick Your Lane
Say Yes to One, and Leave the Other Behind
All things to all people, leaves you with being nothing to nobody.
A Wall Street real estate firm decides to sponsor energy securities. Are they now just a huckster of offerings?
A broker of HVAC firms decides to sell a pizza store. Have they become desperate for business, and now take whatever walks in the door?
An elected official recants their long held public position on alternative energy production. Did they see the light, or did money do the talking?
WHO ARE YOU AT YOUR CORE?
Start with where you have been, what of your history did you fully enjoy, and what of that will the market pay for you to do?
A 1031 DST broker, who lives on his boat, once raced cars, and is an owner of a rental house, best builds his portfolio of prospects by dancing where his light is best.
Meaning, research who owns boats (e.g., become friends with the harbor master), stay involved in racing (hang out at the track), and attend meetings of the apartment management association.
When we (individually or company) are perceived as “flighty”, prospects turn instead to those who are (relatively) consistent.
IT’S ALL ABOUT ME!
Everything I’ve done for the last 40+ years has centered on how real property intersects with taxation and securities. I’ve helped grow realty focused firms (e.g., UDR, FPO, Encore Enterprises, Daly Seven, Triple Net, Capital Square) and served those in need of tax on sale guidance (e.g., veterinarians, home health care, real estate owners).
“Growth Governance & Exit Tax Planning”
Five words. Says it all.
SQUIRREL CHASING!
When succees comes in our narrowly defined niche, we may be tempted to pursue other options. Don’t! Prospects want the best they can afford – someone dedicated to their needs – and will avoid someone who must be mediocre, as they chase every opportunity.
EARLY IN YOUR CAREER?
If you lack decades of experience, think about your life dream when you were around nine (9) years old. You were old enough to have some concept that there was life beyond being a kid. And there was stuff you found fun, and you consider yourself good at it.
For me, it was playing under our wooden front porch, creating roads and houses, and being in charge (either as mayor or developer)! Dirt was fun and has been part of most everything I’ve done in my career.
I never met my grandfathers, but both owned multiple rental houses.
My father’s father also served as an elected member of the Crafton Borough council; I served as a member of the Pennsylvania General Assembly. Maybe it was all something in the blood!
Past may not be prologue; it can, though, be a useful guide to where to focus your career.
BOTTOM LINE.
With no more than five words, say what pain your service relieves.
With no more than five words, say what you do to relieve the pain.
Until you get your focus right, your prospects will never have you in their focus!