Category Archives: Career

Worst business practices

Two of the worst business practices you can commit are lying and not communicating. I have a friend in our business that is probably one of the most loved and the most hated person in our field of work. He is loved by the clients he communicates with and hated by the ones he disrespects by not communicating with them. Somewhere along the way he was taught or shown that the way to handle an unpleasant situation was just to ignore it. Even if the message is bad, it still needs to be delivered.

This past week I ran across a situation that made me chuckle. I am part owner in a vehicle restoration project that is quite complicated. We found a guy who owns the restoration company that specializes in this type vehicle. He flew to Atlanta to evaluate the vehicle and we had a conference call last Thursday where he priced everything out for the whole job. We said great, let’s do it. He then said well . . . let me get back to the office just to confirm my numbers and I will give you a proposal Monday. Monday came and went, Tuesday came and went and then we started calling, and texting. Nothing, Complete silence. Friday at 5pm the proposal comes in and it is twice the amount he stood there and told us it would be. He committed both business practices I am speaking about.

Some of the best leaders I have ever known have one characteristic in common. They treat other people the way they would want to be treated. Seems like I might have read that somewhere. Ha. Being the kind of person that a person like you would want to be a friend to, is maybe the first step.

In business, I try to be honest with clients and I always call them back even if the decision is difficult. I believe personally that people remember these simple acts and they can easily be the basis for choosing to work with you again in the future. If we all treated people the way we want to be treated, wouldn’t the world be a far better place? The Bible makes it clear that we will reap what we sow. It means that the way you treat others is the way others are going to treat you. Pretty simple, right? KT

Selling 101

I have sold hotels for many years. Selling a commercial investment is not like selling personal and household items that can be duplicated at many stores or purchased on-line at amazon. I am talking about commercial investment sales. Over the past 27 years, I have seen innovations like email, internet, blogs, apps, text, tweets, likes and just about every imaginable way to communicate. The thing in investment sales that will never change is the human factor. Basically, people hire and work with people they like and trust. It is not based on the school you went to or how expensive your suit is. It is based on if they like you and trust you.

In a hotel sales organization and as with most companies, 20% of the people do 80% of the work and sales volume. For me the objective is to help teach the 80% how to better themselves and better their sales volume. Recently, I started asking older hotel brokers to think back to the very first hotel they listed and sold on their own. Then I ask them to explain the process they went through to make that sale. Invariably, the common denominator is that they met with the seller and buyer personally. Face to face. That is where the magic happens most often. Not always, but most often. There are brokers I know who are very successful without the face to face element but I would venture that 9 out of 10 brokers need face to face to consistently succeed.

So, what am I saying? It is that sometimes what is old is still new and what seem antiquated is still current. Being old school does not necessarily mean it is a bad school. It just means that sometimes the best way is really the old way. KT

When others try to hurt you

One of the most powerful passages of scripture is found in Genesis 50:20. It is the account of what Joseph said to his brothers after they tried to harm him. It could also be referred to when other people try to hurt you, harm you, say wrong things to discredit you or try to hold you down.

The story of Joseph is too long to detail in this blog but in summary, his brothers were jealous of him and sold him into slavery to get rid of him and told their father that he was killed. The father wept over his son who he thought was killed. Years later the brothers fell on very hard times and had to come begging in Egypt for food only to find out when they got there that Joseph, their brother they tried to get rid of, was the assistant ruler in Egypt. Imagine the looks on their faces when they realized that the brother they sold into slavery is now in charge of their future.

What is amazing about this passage of scripture is that not only did Joseph forgive his brothers for what they had done, he told them “you intended to harm me, but God intended it for good to accomplish what is now being done.” Take a minute and let those words penetrate your heart.

He didn’t try to harm the brothers for what they did. Instead he spoke a very profound statement that restored the relationship with his brothers. If Joseph was living today, the words may have been something like this, “I know you tried to hurt me with what you did but God took what you did and turned it into a good thing for me. Be careful what you do in the future because God has my back.

Joseph made the decision to forgive his brothers rather than live his life in anger, hatred and strife. Forgiveness is probably one of the most freeing decisions you can ever make because THE person you are most helping is yourself.  KT

Following the herd

The term “Following the herd” means that you just do the same thing everyone else is doing. Remember when we were in school and one of our friends would say “come on, everyone is doing it?” When I hear these words, I usually run the other way. I don’t like crowds and I don’t like following for the sake of following.

I have two daughters who are in their early 30’s and while I am very proud of how they life their life and the women that have become, I am especially proud that they are not followers. They are leaders. Even in school they both thought for themselves and did not do things just because everyone else was doing it.

In business, I have witnessed the herd mentality more times than I can count. Invariably when everyone starts wanting the same thing and chasing the same investment, it usually ends bad. More times than not, when you just follow the herd, you will end up in the same place as the herd. In the last cycle (08-09) I watched hundreds of hotel investors fail because they did what everyone else was doing and thought it would be ok.

I think of the oil/ fracking markets within the US. Three years ago, oil was at $105 a barrel and hotel companies were following the herd and building as many hotels in those markets as they could get the loans for. They all bought into the idea that the markets would last forever. In 2014 oil companies were buying used camping trailers in Georgia and shipping them to the oil markets and selling them for three times what they paid for them. They could not get enough housing for the oil workers and couldn’t build hotels fast enough. Well, the oil markets fell apart two years ago and most of those investors that followed the herd were impacted. Some lost their whole companies.

So, the point is that just because everyone else is doing it, doesn’t mean you should do it. Think for yourself and follow your own heart. While you may not be as popular as the herd, you will be making your own decisions and setting you own course in life. KT

Even the experts get it wrong sometimes

When I look at stories of people who have done well and made a difference in the world, many times when you look at their beginnings, the experts didn’t believe they had what it takes.

Many people that made it in business, art, inventions, pastors, sales or sports did not have people that believed in them and in most cases, even the experts in their field gave them a low probability of succeeding.

While there are many stories to choose from, I want to talk about Tom Brady, the quarterback for the New England Patriots. In the 2000 NFL draft, Tom Brady’s draft number was 199. He was the 33rd pick in the 6th round. Just to put this in perspective, let’s say you are in school again and out on the playground where two captains are picking the teams and you stand waiting and then stand waiting some more until all the good players are picked ahead of you. When we were in school, we all have probably been in that school yard or playground situation where we were not picked first and the more names that were called ahead of yours, the more degraded and worst you felt.

So, Tom Brady listened as 198 players were called ahead of him. The following is the true draft report on Tom Brady written by the NFL experts.

Poor Build, Skinny, lacks great physical stature and strength, lacks mobility and ability to avoid the rush, lacks a strong arm, can’t drive the ball downfield, does not throw a tight spiral, system-type player who can get exposed if forced to ad-lib and finally – gets knocked down easily. That is verbatim what the experts wrote about Tom Brady.

Fast forward to today. He has won five super bowls which is more than any other quarterback in history and he is also one of the oldest (40 years old) quarterbacks to still play the game and is recognized today as the best football player of all time.

So, the experts get it wrong many times. The thing about Tom Brady that none of the experts noticed was the strength of his mind and his will to win. I guess it could be said that the way we look on the outside and our lack of talent really doesn’t matter. It’s what’s on the inside that determines our life and what we can accomplish.

Let me say that one last time. It could be said that the way we look on the outside and our lack of talent really doesn’t matter. It’s what’s on the inside that determines our life and what we can accomplish. KT