Doing Business The Right Way | Self Righteousness

Doing Business The Right Way: Pragmatism, or Marketing?

One of the things that we flatter ourselves with is that we are the ones that are doing business the right way.  The 2.0 Transparent “permission” based ways are the ones to go with, and that even further, we are on the enlightened and correct path.  There is a certain arrogance and even a self righteousness to many practitioners in the current environment.  The truth is: Web 2.0 is one way to do things.  It’s probably the direction that things are headed, but I think that mastering 2.0 skills right now is just a bet.  It’s not the end-all be-all.  It’s a bet that the current game is headed in this direction.

Somewhere on the way from blogging for business and advocacy came something else.  I don’t know what happened, but it became a given that the only people that were going to be around in the future were today’s Bloggers.  Then I talked to someone who BARELY functions on email.  I’ve known him for a while, and just did my normal “Reach out to Cool People,”thing.

The broker has a two person shop.  He is STILL generating repeat and referral business from people my age.  His core is attorneys that do chapter 13 bankruptcy buyouts in Ohio.   He declined to have his name mentioned in the blog–(because he didn’t understand blogs).  Dude will do 220-250 loans this year, at an average fee of $4500/pop.  His clients adore him.  He has an office and two processors, and he sends his mail out every month, and does everything on pen and paper. 

He uses an ancient Dell Laptop that boots into Windows 98.

He’s never been to a blog.  Doesn’t understand why anyone would do that.  He’s 56 years old.

He knows how to follow the ST. Louis Cardinals,

He has 2 assistants that have never been to a blog.

When you google him, he barely shows up.  

His clients love him.

His business is growing.

And, this guy grew his business 21% in the bloodbath that was 2007 (by delegating more, and reducing his product offerings–he does FHA and Conforming, doesn’t mess with construction loans anymore).

He is charging more than I want to charge, but he’s doing things that genuinely help people.  He’s doing things openly ethically and honestly, even within his niche.  20 loans * 4500 = 90k/month.  Not a joke.

He’s doing business the “push” way, and I can count on one hand, the people that I believe will do 1mm this year in fee income of any kind. 

He finds his clients, they don’t find him. 

So let’s get real clear on an idea:  2.0 is a preference.  It’s a good way to do business, but far from the only way.  And probably, not the best way for the next few years.  It’s a tool to have in your toolbox–a spoke in your wheel.  It’s a skill to learn so you become an authority/expert on something, but it’s not the only way to do something.  

What he does right is know his products inside and out.  He communicates with customers.  He is prepared, and he does care.   You can’t streamline or wigetize any of that.  You can’t do any better than he does, and that’s why he kicks ass.  Nothing is automated, it’s all high touch, and he’s the one touching everything. 

So…

Let’s LOSE the self righteousness when it comes to ‘push vs. pull’ marketing.  It’s one way–and far from the only way–to do things.  There is nothing wrong with finding clients.  There is nothing wrong with offering your services to people that didn’t understand the need.  In fact–the happiest client I’ve ever had was a family that answered the door when I knocked (as a Realtor).   They got a home when they didn’t have one, and they loved me.  They simply did not know that they’d be able to buy.  Now–one would scoff at someone who would door knock, but then clients wouldn’t get helped..  I door knocked because it got me in front of people every day.  Guaranteed that I’d talk to 40-50 people…and whatever aggravation I brought on the world, I know was absorbed by the MANY people that got to become homeowners, and live the dream that they have always had. 

Let’s lose that.  Let’s embrace new stuff, honor old stuff, lose the ego and figure out the best path to cash.