Never Close Doors
In a very popular song written by David Coe (and later covered by Johnny Paycheck), the artist laments how his boss is a “riggity dog” and how the “lineboss is a fool” as he sings that he can’t wait to see their faces when he gets up the nerve to say:
“Take this job and shove it. I ain't working here no more”
You may never have heard of David Coe, or even heard the lyrics to the song, but undoubtedly the reference will be familiar to you as it has become part of our culture. There are countless scenes in movies and television shows where characters emotionally tell off their bosses. These characters have reached their limit, and leave a job despite having no viable opportunities in front of them.
Oftentimes, when these scenes are played out on the screen, those watching laugh and cheer on the person quitting in such a rage—perhaps because we admire the temerity of such an individual or in part relate on all too real of a level. While we might not have fanaticized in graphic detail on how we might quit our present jobs (or maybe far too many of us have), it is likely that anyone reading this newsletter has dreamt, planned, and is working on ways to get out of our current line of work. After all, there is nothing in the Rich Dad philosophy that celebrates remaining in the E quadrant for life.
We can celebrate these moments on television or the big screen, and work towards the day we exit the rat race. However, we need to maintain an awareness of how small the world really is. How many people do we truly get to know over the course of a lifetime? How many opportunities will present themselves in the coming years? Will we lose out on the opportunities because we offended or insulted someone, or thought that someone was simply too unimportant to get to know? Can we afford to close doors simply because it makes us feel better in the moment?
Urban Legend
This story is centered around a joke that several co-workers play on one of their fellow workers. The worker regularly played the lottery, and bought a ticket nearly every day. One day while out to dinner, the co-workers copied the numbers from his lottery ticket and gave them to a waitress. During one point in the meal the waitress came up and said the winning lottery numbers had been announced, and asked if anyone was interested in them. After the man with the lottery ticket said yes, she read the numbers. The man checked his ticket several times before standing up to announce he was quitting and went around the table to insult his boss, each of the co-workers, and even admit that he had been having an affair with his secretary.
Talk about burning bridges.
Now, we might say that this is not in our character or that we would never do that, and perhaps you are right. We might not quit with quite so much vocalized rage, but it is likely that you do things every day that close doors without knowing, or don’t do the little things that can keep doors open.
Meetings, Conventions, and Social Gatherings
Those that have been successful in real estate know the power of networking. From building your Power Team to attending local Real Estate Investment Association (REIA) meetings, successful real estate investors likely have large networks to draw from. They meet Realtors, lenders, and fellow real estate investors at these meetings, all —of which could play a critical role in their future business dealings.
Whether at these meetings or other social settings, it is likely that you have met someone and felt that they could not assist you in your future dealings. You mentally close the door on this relationship. This is potentially a huge mistake. You never know where someone may be in five years, or where you will be in five years, and how that person may be able to help you.
In today’s age of social media, it is very easy to setup a social media page (i.e., Facebook, LinkedIn, etc.), dedicated to your business, and you should try to “friend” or connect with each and every person at one of these meetings. There is absolutely no downside to this approach. Who knows where your next source of private money might come from.?
Keeping Doors Open in One-on-One Dealings
In real estate and entrepreneurial fields, it is likely that you will make numerous offers, attempt to obtain financing, and place many different proposals before many different people. Today’s “no” may become tomorrow’s “yes.” Being gracious and professional to everyone you meet will keep those doors open. Focus on becoming the ideal professional.
The Ideal Professional
Dream of becoming the type of professional who has the following qualities:
• Kind
• Courteous
• A good listener
• Always makes eye contact
• Sends birthday wishes and holiday greetings to all of their contacts
• Is respectful
• Remembers names
• Smiles
• Is honest
Becoming this type of person will mean that you will have a happy and productive life. It is also a very good way to approach business. Along the path of success, you will meet all sorts of people. Some you will care for more than others. At times, there will be individuals who test every ounce of patience you have. What does it cost you to be nice and courteous to even those most contemptible of individuals? It costs you nothing, and you stand to gain both emotionally, spiritually, and even financially.
The Flip Side of Closing Doors
While we can always actively attempt to keep open the lines of communication to business relationships, we can also go that extra step by attempting to open up doors that would otherwise remain sealed. Modern technology and changing social norms have made this easier than ever. If you have never tweeted on Twitter or sent a friend request on Facebook, then you are about to be in the minority. According to checkfacebook.com, nearly 156 million Americans have a Facebook account.
This may be uncomfortable for many who are not familiar with social media, or for those who don’t want to share their thoughts with the entire world. If you don’t want to set up a personal site, then set up a business account on one of the many social media sites dedicated to professionals (i.e., LinkedIn). Utilize it, and invite all of the contacts you meet at meetings, conferences, or one-on-one dealings. For real estate investors, you can use social media to share potential deals that you need partnerships or financing on. You can use it to find members of your Power Team. You can use it for whatever you want. It’s free, takes little time (don’t tell that to your teenager), and can be one of the most powerful tools at your disposal.
The interpersonal relationships we make often define us as individuals, and can make or break our success in the business world. For all of those stock traders that took the time to read this article, you may not need people as much as the rest of us in your cold and calculating world of charts, patterns, and indicators. However, it can’t hurt to get to know a few people if you ever want to change professions.