All posts by Keith Thompson

Tune up

As everyone knows, I love old muscle cars and have owned many over the years. I have also bought new cars, trucks and SUVs.

I don’t care how much money you spend and how nice the vehicle is, if you don’t do a checkup and or a tune up periodically, you will find yourself on the side of the road. No vehicle is built to last with no follow up attention.

Houses, retirement accounts, family relationships, businesses…they all need a checkup and refocus from time to time.

What am I saying here? I am saying that we all know and understand everything I have just said is true, but when it comes to our lives, we think that the tune up we got 10 years ago is all we need to do. If we step away from this, we all know in our hearts that we need to do a regular checkup from the neck up.

In business, one must make changes in his/her approach and business model if you want to stay in business long term. There are so many corporate examples to choose from, but I will just choose one. BlackBerry. In the early 2000s up until 2007, Blackberry owned and controlled 90% of the global smart phone market. Today, a BlackBerry is like a pager.

The BlackBerry shareholders owned private jets and homes all over the world and thought their business model was perfect and that no one could usurp their market share. Obviously, they were wrong. When Apple launched the iPhone in 2007, the BlackBerry folks said, it will never last, never be that big, and no one would leave the BlackBerry platform to switch to Apple. By the time Apple launched the iPhone 2, the momentum of BlackBerry changed and began a very long downward spiral.

Today, the shares of BlackBerry stock are trading at a fraction of what they were in 2005-2006. Why? BlackBerry forgot or ignored what its customers were saying and they lost one of the greatest markets of all time. Personally, I bought all the new BlackBerry phones as they came out was a diehard fan of the product. Then, someone showed me the iPhone, and I realized what you could do on an iPhone was 20x what you could do on a BlackBerry.

Whether we are looking at our business life, personal life or spiritual life we all need to take an assessment of where we are and where we want to go. I will promise you, if you are honest with yourself in all three areas, you know there are changes you need to make to stand through the test of time. You also know in your heart that if you keep doing things like you are doing them today, time and change will catch up with you and you will lose what you have.

A smart man once told me that what you compromise to keep, you will eventually lose. Think about that just a minute. If you compromise your health, your marriage, your business, etc., you are putting yourself at risk of losing it.

So, go talk to God about your spiritual life, kiss your spouse, and take a real inventory of the areas of your life that are important. Wash it, clean it, and tune it up so it will last. KT

Getting hired

Getting hired is one of the hardest things to do. The anxiety level is always high.

At Hotel AG, getting hired on a listing is the single most important trait you can have as a hotel broker. Without the ability to sit in front of a seller and earn his trust, you will never make it our line of work. Over the years, I have hired some of the best educated and best trained folks that didn’t make it. I have hired lawyers, appraisers, and market study specialists along with all levels of executives. It always comes down to one factor: getting hired.

That’s our business, but I would imagine that every job and every business has its tell-all factors. Without the ability to succeed at those factors, you won’t last long.

I find that regardless of what your business or job is that if you put yourself in your manager’s shoes, you will realize what is important in his/her eyes. Knowing what’s important will allow you to focus on those points. As everyone knows, I spent many years in the food business. During that experience, I learned many things about business that I would not have learned otherwise. The food business is so tough because there are so many areas that impact the guest. In the hotel world, the guest just needs a smiling face at check in and a clean room. The owner has all day to get these two points right. In the food business, there are no less than 10 constant guest impact areas from the look of the restaurant to the speed of the order to the food quality.

It is often said that you can run a 100-room hotel easier than you can run a 2-seat restaurant. The client’s expectation in the food business is so great that very few new restaurants make it.

I say all of that because in every business, there are important things to watch for but also the real important things. It is knowing the real important things and factors that will determine your longevity in that business or in that job. So, in hotel brokerage it doesn’t matter what your education is (I am proof of that), or your speaking ability is (I am also the proof of that), but it comes down to if people like you and trust you. I don’t care if you sell hotels, cut grass, wait tables, pastor a church, or you work for a large company, your success always comes down to if the people around you like you, trust you, and respect you.

People can see a phony a mile away. Even little children and dogs can tell if they can trust the person. The only folks that think trust is not important are the untrustworthy men and women. I also believe that taking a close look at yourself is the only way to improve your working life.

It is often said that the two most important things that will change you over the next five years are the people you meet and the books you read. I like to add a third component to that, and it is the relationship you have with your heavenly father. If you can improve those three areas, there is a great chance you will improve you. KT

Use the good stuff

Come on now, it is time to wear the great dress and best suit and eat off of the special china. Stop saving the best for someone else!

As you know, I love old cars. It amazes me when a seller of a great car will say it only has 800 miles on it. The translation of that is the goober that bought the car new never enjoyed it; he saved all the good stuff for the next owner. I saw a guy one time that had a mid ’90s Porsche 911, and he was so proud that car only had a few thousand miles on. To me, that is plain foolishness. Why not enjoy it yourself?

Years ago, I bought a new Chevy Tahoe. My Tahoe had every option available, and I was in love with the vehicle. I bought some big rubber mats to cover the floors and also the cargo area to protect it from wear. After about a year, I was washing it one day and I looked at the carpet under the mats and saw that everything still looked new. I realized I was saving the carpet for the next owner and not enjoying it for myself. That day I threw the rubber mats out and started getting the carpet dirty myself instead of saving it for someone else to enjoy. I kept that Tahoe for 8 years, and when I traded it in, it was worn completely out and limping like a hurt dog. No one could say that I had not enjoyed my vehicle.

That is how we subconsciously act with nice things in our life. We will say silly things: “I won’t wear that today because I am saving it for something special,” “We can’t eat on the good china except for special occasions,” or “I can’t take a nap on the couch because it will make the cushions sag.”

My advice is to live life large and full on. Raise your head, poke out your chest, and choose to go be full of joy. Be honest and put God first place in your life. Be the gentleman/lady in you, but by all means, live boldly and use the good stuff while you can. One day, what is left of the good stuff will be handed down in your estate after you have gone on to be with the Lord.

Choose today and choose now. Go get it! KT

When reality hits

Most people don’t get serious until it is too late. They don’t get serious about health, God, their marriage, or their finances until reality hits.

A funny example of not getting serious until it is too late is the story of the skinny guy who is at the beach with his beautiful girlfriend when a big muscular guy comes by and steals his girlfriend. Got that picture in your mind? Imagine the skinny guy after he loses his girlfriend going to the trunk of his car getting out his barbell set to start working out. Ha. While it is never too late to start, for this guy in the story, it is probably too late to keep from losing that girlfriend.

That is how most people treat God, their health, their finances, etc. I have heard many people in hard times say, “God let me get all the way down here so he could teach me.” Well, not every time and every situation are the same, but mostly WE let ourselves get down there before we call on God to help. Sometimes, we only called on God when it is the last option. Listen to me, God wants to be involved in the everyday, simple decisions we make and not just the big whoppers. He takes delight in his children coming to him in prayer and asking “Lord, how I should handle that” or “Lord, please give me the wisdom in this situation.” The Bible says those are sweet fragrances to God.

It’s like the story about the prodigal son in the Bible. There are many facts and points to that story. The main fact to me is that the Bible says when the father saw his son from far away, he ran to meet him. The only way the father could see him from far away is because he was looking a long way off wanting to see the image of his boy coming home. That is the way God is. He will not force himself on you, but he will be there looking your way when you get ready to turn around and come home.

Waiting until the reality hits before you make a change is probably not the best course of action. In most situations of life, a simple, minor, and easy change today can make a huge impact later in life. KT

If I had more time, I would have written a shorter letter

In business, longer is usually not better. More business professionals want to get to the point quickly so a decision can be made.

My mentor, Harmon Born, used to say “If I had more time, I would have written a shorter letter.” What he means is that when we really focus on a project, the simple way is usually the best approach. I get these emails from companies that are long, and it takes a chunk of time to get to the point. In reality, they could have zeroed in on the subject in about one paragraph.

An example of when you want to be long winded is if you are an appraiser. An appraisal is never read completely because it is so very long and goes painfully into verbiage about every aspect of the property that is being appraised. With an appraisal, there needs to be a weighty factor involved; the report needs to be thick, so when it goes in the file no one will question if it was done well.

Aside from the appraisal example, the better approach is to be on point and focused whether it is speaking or the written word.

There is no better example of this subject than Abraham Lincoln’s Gettysburg address. A guy by the name of Edward Everett, who was a politician, pastor, educator and diplomat, spoke right before Lincoln was to make his address. Everett’s speech was two hours long and 13,607 words. Aside from the fact that the audience tuned him out after five minutes, he wanted to show everyone how smart he was, and he especially wanted Lincoln to be impressed with him. After he finished, the President of the United States steps up and delivered a three paragraph speech known as the Gettysburg address. It was so short that it stunned the audience. Lincoln only spoke for a few minutes and sat back down. I have often wondered what Everett thought after the President finished in a few minutes and he talked on and on for two hours.

Ask yourself, which speech got more recognition? Obviously it was Lincoln’s, and that little speech has gone into history as one of the finest examples of English public oratory.

We have a term at Hotel AG called SIBKIS. It means to “see it big and keep it simple.” So, when Harmon Born said that if he had more time, he would have written a shorter letter, I knew what he meant. KT