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Being Shy About Business Won’t Win Leases – How to Take Your Competition OUT!

Everyone knows – being shy about business – especially leasing, won’t win you any leases. Have fears or doubts? Your prospects can smell it a mile away -and so can your competion. So what WILL win you leases? 

This is a picture of me in 2nd grade. I had just transferred to a new school. I was a toothless, innocent, unsure and extremely SHY child with ONE WISH: More than anything in the world, I wanted to make friends. Being shy didn’t win me any friends. And to make matters worse, I was the smallest child in the class. Who gets bullied around the most? Well, the weakest link of course – MOI. How do you win friends in this environment? 

Fast forward to today’s apartment leasing world: That toothless, SHY, unsure child pictured is YOUR property. The bullies out in the world are your competition. They’re bigger, better, faster, have deeper pockets, YOU name it, they’re IT. You’re feeling overwhelmed, underappreciated, and more than ANYTHING, you not only WANT new leases, you NEED new leases. How do you win leases in this environment? 

As a child, I had one thing in abundance – IMAGINATION. In my mind’s eye, I imagined that I came into school one day, and I had all my teeth! I then imagined that I approached all the students in my class and introduced myself. I imagined skipping out to recess holding hands with my new friends. I imagined being picked FIRST for the dodge ball team. For some reason, DOUBT, FEAR, UNCERTAINTY, would find me even in my imagination! Even in my wildest dreams (Being picked first for dodge ball? Little ole me? THAT is a WILD dream at best!), my bully was THERE. And he had the ball, had it aimed RIGHT at me. 

If you know the rules of dodge ball, you know there are only 2 ways to take someone OUT: 1.) You hit them with a LIVE ball. 2.) You catch a LIVE ball that is aimed at you. And you better believe, my big bully had mastered the art of whipping that ball quick and hard – at ME! He liked to get that ball first, and take me out – as a warning to everyone else that he was coming for them NEXT.

Day after day, even in my imagination, my bully was there, whipping the ball at me. He’d always hit me, and I’d always limp off in pain. Then one day, I IMAGINED that I caught that ball. What an epiphany! AND BOY did that feel good! I imagined it again and again. I replayed it in my mind. In slow motion, in fast motion. I dissected that moment of impact. And I planned like an obsessed mad scientist, exactly how, when and where I would catch that ball. Until finally one day, that doubt, fear, and uncertainty was gone. In its place, was my INTENTION: I was going to take that bully OUT. 

I’m NOT going to tell you it was easy, OR tell you that the next day, I went to recess and immediately caught that dodge ball – because that’s not how it happened. BUT, what I DID: I started trying harder. I stopped being shy and afraid. I reached out and made new friends. I smiled; I was charming, I was no longer afraid. As a coping mechanism, I actually avoided my bully as much as I could. I was hit many times by that bully’s dodge ball – but I was no longer afraid of him. It wasn’t until the 4th grade in gym class that I finally turned around, looked him in the eye, and caught that ball and took him OUT. Not only did I take him OUT, I took him out in the first minute of the game. THAT was the highlight of my entire 4th grade year.

What does this have to do with apartment leasing? That bully is all your competition. Those dodge balls are all your objections. And believe me they are YOUR objections to YOUR own success. It could be that you don’t have amenities to speak of, it could be that your building is dated, it could be that you are forced to compete in a world filled of concessions and yours aren’t worthy of the competition, or it could be YOUR own self-doubt about your selling abilities. Whatever IT is – you’ve bought into those objections hook, line and sinker. 

Now, as an adult, this might be harder to do, but IMAGINE your prospect walking in. Imagine how that leasing process SHOULD occur. Do the objections come up? That’s OK. In your mind’s eye, take care of those objections. Dissect it, play it in slow motion, play it forward, whatever it takes. Don’t just glaze over or erase those objections – take them ON head-on. Address them! Imagine your leasing process until it becomes one that feels GOOD to you – and you see yourself WINNING that lease. Once you have THAT process in your mind down, imagine THAT winning process over and over again. Imagine that you WILL WIN. Take that competition OUT!

 And as an adult, I no longer call it a WILD imagination. I call it setting my INTENTION. I’ve gotten much better at it over the years. It doesn’t take me 2 years to figure out how to be successful. Whatever the challenge is, I let my imagination run wild, set my intentions, and WIN.

Believe me when I say, that 2nd playground was a lot harder to overcome than most of the hurdles in my life, but it taught me how to win. I keep that struggle and triumph close to my heart, and pull from that experience many times in life. How about you?

Don’t get it? RENT SODA. GET IT!

-Daisy Nguyen in Minneapolis, Minnesota MN

CEO

RENTSODA-small

Business & Marketing Consulting to the Apartment Industry

Web: RentSoda.com   Email: Daisy {at} RentSoda(.)com

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Personnel/Personal Development: Do You Have a Plan?

When it come to personnel development – do you have a plan?

How about PERSONAL development – do you have a plan?

Success comes from within. For an organization to be successful, in order for your apartment project to be successful, the success must come from within. At the very heart of each project, at the heart of every organization, there are people. In today’s market, the only way to THRIVE, not just SURVIVE, is to have a vested interest in the one thing that sets YOUR organization apart from the next. YOU and YOUR people. Processes, technologies, even buildings can be duplicated. The one thing that can NOT be duplicated is YOU and YOUR people. If this is the one thing that sets your organization apart from the next, do you have a VESTED interest in yourself?A VESTED interest in your people? So the question is:

When it come to personnel development – do you have a plan?

How about PERSONAL development – do you have a plan?

“If you don’t know where you are going, any road will get you there.”

- Lewis Carroll

(Picture provided by Himalayan Trails on Flickr through creative commons license.)

What’s your PERSONNEL/PERSONAL development plan?

Don’t get it? RENT SODA. GET IT!

-Daisy Nguyen in Minneapolis, Minnesota MN

CEO

RENTSODA-small

Business & Marketing Consulting to the Apartment Industry

Web: RentSoda.com   Email: Daisy {at} RentSoda(.)com

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Career Advancement in the Apartment Industry: Speak the Language of Business!

In today’s economy, for every job opening available, there are hundreds of applicants. In working with owners/investors/executive level management, their number one complaint is: there is a shortage of TOP level talent. Many, look outside their organizations to find TOP level talent. And yet, everyday, I hear from people in the industry that feel they are passed over for advancement opportunities and they WANT advancement opportunities. Why the discrepancy?

There is a mis-conception that if you are the best at your what you do, it is only natural that you advance. While this is very true in the apartment industry, it is only HALF of the equation. If you want to double your chances of career advancement – the other half of that equation is this: You MUST learn to speak the language of business.

(Picture provided by daviddmuir through creative commons license on Flickr.)

Whether you are a leasing agent wanting to advance into National Sales Director, or a marketing intern with your eye on VP of Marketing, or a junior accountant wanting to advance to Controller, to Maintenance Technician looking for advancement to Maintenance Director, you must learn to speak the language of business.

What is the language of business? It’s not a foreign language – it’s learning to communicate your contributions to your organization in terms they can understand AND appreciate. It comes down to 4 words: SHOW ME THE MONEY! Or more accurately, Show THEM the money.

I have attended many “owner’s/investor’s” meetings. (Sometimes as an owner’s representative, sometimes as a management company’s representative.) I have been at the middle-management level as well as the executive management level. The one things that is ALWAYS discussed at these owner meetings is – How are “we” doing? And they’re not asking about “our” health or “our” welfare, they want to know, how much money is the apartment project making, OR how much money is the apartment project loosing?

How does this help you in terms of your career advancement?

Since you KNOW that this is the number one concern/question for your apartment owners/investors, and in turn your supervisors (middle management AND upper management), you should start speaking in these terms as often as possible.

  • It’s one thing to say you have increased occupancy from 88% to 90%. It’s much more impressive to say, we increased occupancy 2 percentage points, thus adding $24,000.00 in annual income. 2% is a small number, while $24,000.00 in rent is a BIG number. Show them how you made the money.
  • It’s one thing to admit that you have overspent in marketing (who isn’t?), but its another thing to say, we overspent in marketing by $1200.00, but in doing so, we increased our occupancy by 2%, adding $24,000.00 of annual income. Show them that in order to make money, you spent some money, but overall, there is a net positive gain.
  • What if you are an A/P clerk who processes bills? How do you quantify your contributions in the language of business? It’s one thing to say you enter 500 invoices monthly. It’s much more impressive to say, I process over $100,000.00 of payables monthly totaling over $1.2MILLION dollars of payables monthly. Now THAT’s impressive!
  • What about a caretaker? How does a caretaker quantify their contributions? It’s one thing to say you regularly shovel and salt the sidewalk, its another thing to say, because I shovel & salt the sidewalk as well as document each incidence of shoveling/salting Because of this our insurance claims have decreased over previous years, and this year we saw a property insurance savings in the amount of $1800.00.

Owners, investors, (and your supervisors) want to know you understand exactly how your efforts effect the bottom line – whether it is through income generation or expense control, quantify that. Not only is THAT impressive, it shows you UNDERSTAND the BUSINESS part of the apartment industry. Showing that you understand how you impact the bottom line, also shows that you are not a “victim” of this economy – you’re telling owners/investor that you have control and more importantly, you are exerting control over the one things owners & investors care about: the BOTTOM line. SHOW them the MONEY!

I’m currently working with several clients to help them find top-level talent for their organizations. Their #1 priority in finding someone is to find someone who understands the BUSINESS side of the apartment business. It seems pretty simple – but as an industry, we are so focused on the customer service side (serving our residents) that we sometimes forget to serve our other customers (our owners/investors) Having been on both sides, I know that there people in the industry who DON’T GET IT, and there are those that DO GET IT, but can’t articulate it. If all things are equal, which category do you want to fall in?

  1. I DON’T GET IT.
  2. I kind of GET IT, but don’t know how to articulate it. (In the eyes of your owners & investors, this is the same as #1) – If you are in this category, there is HOPE for you! You can learn the language of business!
  3. I GET IT, and I DO know how to articulate it. (This is what everyone wants.)

What other qualities do you feel your owners, investors and supervisors look for in hiring new employees and advancing existing employees? My purpose for asking is to help people understand what your decision makers look for, so that YOU know what to aim for.

Don’t get it? RENT SODA. GET IT!

-Daisy Nguyen in Minneapolis, Minnesota MN

CEO

RENTSODA-small

Business & Marketing Consulting to the Apartment Industry

Web: RentSoda.com   Email: Daisy {at} RentSoda(.)com

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Land of Opportunity or BUST! Do You See the Land of Opportunity?

Have you ever noticed the people who complain about the lack of opportunities are also the ones that are the first to say they are too busy to join, have too much work to do, can’t take on another project, and are the ones turning away perfectly good opportunities? Complain, complain, complain, blah, blah, blah. If I were ole “Opportunity,” I would knock on another door too.

(Picture provided by Dominic’s Pics on Flickr through Creative Commons license.)

How can you position yourself to invite more opportunity?

1. Stop Complaining. Not only is this a negative, unproductive opportunity, you can’t hear when opportunity DOES knock.

2. Choose one of the following statements for the day:

A. I make things happen!

B. Things happen to me.

Hopefully, you chose option A. You’re one step closer to inviting more opportunity! If you have chosen B, there’s no one who can help you. Go back to bed. Wake up tomorrow and choose A.

3. HELP yourself. If there is a lack of opportunity in your life, stop and figure out WHY. Take some responsibility on WHY you are in this situation – and take a step to move yourself OUT of the situation. If it’s because you don’t have a degree, sign up for 1 class. Small step, but BOY, you’d be 1 class closer to a degree than you were yesterday. If you’re looking for a job, and the only place you are looking is on monster.com – you’re missing out on the majority of the job market. Most jobs never hit the classifieds! (CNNMoney.com reports over 80% of jobs are never advertised.) Figure out what you’re missing and find a way to GET IT! Stop finding excuses, start finding solutions. Make it YOUR business to be IN business. ENGAGE yourself fully!

4. Forgive yourself for any mistakes, and know that YOU are WORTHY of success beyond your wildest dreams. Most people sabotage themselves – the reason most people don’t succeed isn’t for lack of trying, its lack of belief in themselves. My favorite quote, “Whether you think you can, or you think you can’t, you’re usually right.” (Henry Ford) Why not be right about your success?

How does this apply to our apartment industry?

With this economy, so many people are singing the blues. I GET IT. It’s a tough market. So what? We’re all in this market together. If both you & I are operating in the same market, all’s fair. Go through steps 1-4 not only for yourself, but for your apartment community, for your team, for your career, for your staff. Stop complaining about the market and making excuses. Start finding solutions. Engage in your community’s success. Participate and engage in your community. Forgive yourself, your staff for not being able to run it like it WAS, and run your apartment community the way you CAN, and not the way you CAN’T.

Winston Churchill said, ”

“A pessimist sees the difficulty in every opportunity; an optimist sees the opportunity in every difficulty.”

Do you see difficulties or opportunities in your future? Do you see the Land of Opportunity?

Don’t get it? RENT SODA. GET IT!

-Daisy Nguyen in Minneapolis, Minnesota MN

CEO

RENTSODA-small

Business & Marketing Consulting to the Apartment Industry

Web: RentSoda.com   Email: Daisy {at} RentSoda(.)com

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Success in the Apartment Industry: Where do you Participate, Participate, Participate?

So you read my PARTICIPATE in your SUCCESS article, and your new year’s resolution is to participate in your industry, your career, and your success. Where to start?

No better place than with a recommendation from your peers!

Please leave a comment on where in the industry you are participating, and any comment you feel relevent. AND, if there’s a link, GREAT!

I’ll start:

MN MHA -non-profit local apartment association: http://www.mmha.com – they have focus groups that are always looking for more volunteers. I have met some industry GREATS in these groups, and we have made a difference for our industry!

Aeon – Homes for Generations: http://aeonmn.org – this is a non-profit affordable housing provider in Minnesota. They have many volunteer oppotunities, AND, they are always looking for people who are interested in serving on the Board of Directors to apply.

I also attend several networking events put on my a local neighborhood association called the Uptown Minneapolis Association. I’ve met some AWESOME people here and now also write for the Uptown Neighborhood News through connections I made at the networking events!

What’s your New Year’s resolution to PARTICIPATE?

 Don’t get it? RENT SODA. GET IT!

-Daisy Nguyen in Minneapolis, Minnesota MN

CEO

RENTSODA-small

Business & Marketing Consulting to the Apartment Industry

Web: RentSoda.com   Email: Daisy {at} RentSoda(.)com

Become a fan of RENTSODA on facebook.  Connect with RENTSODA on LinkedIn!

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Picture provided by Baratunde on Flickr through Creative Commons license.

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How To Be Successful In The Apartment Industry: Participate, Participate, Participate!

I’ve had a LOT of conversations recently, and one topic has been a recurring theme: Success. Two recurring questions: 1.) How do we make our apartment communities more successful? 2.) How do we make OURSELVES more successful?

As a consultant and a writer of a popular industry blog, I meet with A LOT of people. I meet with EVERY kind of person in the industry from site personnel to vendors at every level, from to Regional Managers to directors to VP’s to CEO’s/COO’s/CFO’s, to developers, partners, investors & owners of apartment communities.

My answer is ALWAYS the same: PARTICIPATE, PARTICIPATE, PARTICIPATE!

1.) PARTICIPATE: Participate in something bigger and greater than your own apartment community. I KNOW you have a million things to do and there isn’t another minute you can commit to someone new, but YOUR PARTICIPATION in something greater will return ten-fold to your success at your apartment community, as well as return ten-fold in your own personal successes. I’ll go out on a limb here and say – I PROMISE that any participation you give will be returned to you ten fold. If not, give me a call, and I’ll take you to lunch and eat my words.

2.) PARTICIPATE: Don’t just JOIN your local apartment association, JOIN, PARTICIPATE, ENGAGE! There is no better way to work/network with other industry professionals in your market than at your local apartment association. Chances are, they ARE looking for volunteers to participate in committees, tasks forces, surveys, focus groups, etc. Do you think that your opinion doesn’t count? In an industry that serves this many people, YOUR opinion DOES count. For every 1 person who DOES participate, there are dozens if not hundreds of people who do NOT participate. YOUR opinion COUNTS simply because you have made a commitment and gotten involved. Is your local association too small? Help them grow and expand by getting more people involved. Hey – it’s YOUR local apartment association – make it truly YOURS.

3.) PARTICIPATE: Participate in a local non-profit in your market. This could be a local non-profit housing provider OR this could be a local non-profit community group. As with your local association, they ARE looking for volunteers for their boards, focus groups, tasks forces, surveys, fund-raisers, etc! Especially in this market and economy, they need your expertise. Find something that MOVES you and PARTICIPATE with THEM. You will be in for one of the most rewarding commitments you can make. I know it is MY most rewarding commitment – who knew that working for free has its rewards?

How does this help you with the success at your apartment community? In participating, you’ll hear from other industry professionals, like yourself (and some NOT so like you!). You’ll hear different ideas, different perspectives, different personalities. You’ll learn, you’ll grow, you’ll make new friends that can last a lifetime. You’ll meet tons of new vendors that are PARTICIPATING. – I love vendors who participate – it tells me they are committed to the industry’s success  and not just their own. You will be exposed to ideas, people, information and opportunities that you did NOT have access to prior to your participation. You’ll be the first to know about networking events hosted by your local association, notified of training opportunities produced by the local association, be in the “know” new trends and products and through your expanding network, get to know the world OUTSIDE of your box. You can take these new ideas, exposures and bring them back to your apartment and apply them to make your apartment community more successful and making you more successful. Talk about a WIN-WIN! That’s a SCORE!

In case you are wondering, I participate in my local apartment association, MN Multi-Housing Association (MHA) – one of the best and nationally recognized associations in the U.S. (http://mmha.com/ ) or check them out on facebook!

Participation with your local non-profit brings challenges and HUGE rewards. I participate in a local non-profit affordable housing provider called AEON. (Or you can check them out on facebook. I also mention them in a past blog article.) The challenges are the time commitment involved and understanding that non-profits work a little differently. The rewards are much the same as in the local apartment association – I have chosen to surround myself with other successful people who are COMMITTED to the same CAUSE that I am committed to. The people in that group are as wide as our industry – and every one of them smart, driven and a FORCE to be reckoned with. The contributions I have made by participating have been returned to me ten-fold in the form of new ideas, new connections, new perspectives and new friends.

In a world and time where it is so easy to get caught up in OUR OWN little dramas, a more global PARTICIPATION can help us bring additional focus to our apartment communities and to our own careers. It’s YOUR community, it’s YOUR career! PARTICIPATE and make it truly YOURS!

With New Year’s coming – make it a New Year’s resolution to PARTICIPATE!

 Don’t get it? RENT SODA. GET IT!

-Daisy Nguyen in Minneapolis, Minnesota MN

CEO

RENTSODA-small

Business & Marketing Consulting to the Apartment Industry

Web: RentSoda.com   Email: Daisy {at} RentSoda(.)com

Become a fan of RENTSODA on facebook.  Connect with RENTSODA on LinkedIn!

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“Professionally Managed by…” What does THAT mean?

Recently, a close friend of mine asked me, “what does professionalism mean to you & how does it pertain to our apartment industry? I want our company to be more ‘professional’ and I want to better understand what that means.” THIS – from one of the smartest most professional people I know? I took the question seriously.

My first attempt: Duh! Professional is… you know, someone who conducts business in a professional manner – you know – a professional!! It’s one of those terms that gets thrown around a lot, but what does it REALLY mean?

I pondered some more and I realized it was a VERY relevant question to our apartment/property management/real estate development industry. There are numerous property management companies out there:  from the biggest of big – the HUGE REITS, to the smallest of small – the “mom & pop” duplexes managed by (you guessed it,) ”mom & pop.” How do we define “professional” and “professionalism” in an industry that is so wide? And, maybe more importantly, you are wondering – why would we want to? And who cares?

YOU SHOULD care. It matters to your customer. It matters to your clients. It matters to your existing and prospective employees. It is your reputation. It matters to the industry as a whole, as it is those few “unprofessional” landlords that make the rest of us look like ogres. If you claim to be “Professionally managed by ABC Management Company,“ what exactly does THAT mean?

The first image that popped into my mind when the word “professional” is mentioned is men and women in suits. But just wearing a suit doesn’t mean you are professional. There are plenty of unprofessional things done in suits these days! 

Then I thought about professional athletes – these guys do NOT wear suits at all! YET, they are definitely professional athletes nonetheless. So maybe, being “professional” means your talent is worth a lot. Then my thoughts wandered to McDonald’s – they serve burgers. The burgers are cheap. It doesn’t take talent to make cheap burgers. BUT, McDonald’s is definitely a professional organization – and a very successful one too! Not only do they sell cheap burgers where no talent is required to make the burgers, they don’t wear suits. Suits. NFL. McDonald’s.

 What did these have in common that could help me to define professionalism and how does it pertain to the apartment industry?

 It finally dawned on me, what all these had in common, and why it should matter to you:

 1.) Professionalism is all about expectations and standards. As an organization, one of the best things you can do for yourself, your clients, your employees, AND your reputation, is to set a standard. The NFL has standards for their athletes – and each team has its own standards. Everyone is expected to play at or above those standards. For McDonald’s, the standard is a very small narrow window of what the customer can expect from the restaurant, the food, and the service. Customers expect their experience to be the same or very similar at every McDonald’s whether it is a McDonald’s in downtown LA or in suburbia: It’s a McDonald’s burger. Having standards can contribute positively to your customer experience. If customers know what to expect, and they receive it (whatever THAT standard is that you’ve set) this results in a positive experience. McDonald’s has a standard, and their customers know what to expect from them. A person wanting a gourmet steak burger is not going to wander into McDonald’s and then become disappointed at the burger experience.

 What is the standard at your property or management company? Do you customers, vendors, and employees know what to expect? You have the ability to set those expectations – and more importantly increase the likelihood that the customer experience is positive – by setting realistic expectations that you have specifically trained your employees to attain.

 2.) So then, what’s up with the suits? I realized that it wasn’t about the SUITS as much as what the suits represent – it represents an image. In the NFL, each team has a uniform – which they all wear proudly. At McDonald’s – there is a uniform that serves a dual purpose – to project a consistent image of McDonald’s as well as to provide clothing that can be abused in a restaurant setting and still fit into the McDonald’s image. Does your image project “Professionally managed by ABC Apartments?” or does it say, “the uniform stinks, I hate this job, and I don’t care enough about my job to care how I look?” What image are you portraying, and does it fit into the standards that you set in #1 above?

 3.) Lastly, for an organization or a site to be “professional,” the standards of conduct and the “professional” image need to apply to everyone. – Whether it is consistency in behavior, or consistency in image, or consistency in the treatment of staff, or consistency of how residents are treated, – professional in an organization is as much about consistency as it is about standards and image. I’m not advocating that you require your maintenance staff to wear suits. What I AM advocating is there is consistency in the messages that you send. Everyone on your team needs to have the same consistent (hopefully high) level of customer service that your residents can come to expect out of their “professionally managed” apartment building.

 Is your apartment community “Professionally managed by … ” What does this mean to you?

 Don’t get it? RENT SODA. GET IT!

-Daisy Nguyen in Minneapolis, Minnesota MN

CEO

RENTSODA-small

Business & Marketing Consulting to the Apartment Industry

Web: RentSoda.com   Email: Daisy {at} RentSoda(.)com

Become a fan of RENTSODA on facebook.  Connect with RENTSODA on LinkedIn!

Follow RENTSODA on Twitter!

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