Normally I keep my face (and voice) out of this blog, but I wanted to share some thoughts and figured video was the best way to do it. If you love it, drop my a line at [email protected] and let me know. If you hate it, #mybad :)
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This past week, I have been fortunate to sit down with more a dozen enterprising Real Estate Professionals and offer my experience and insight into how to leverage marketing opportunities to maximize their business. While most small business owners, sales professionals, and real estate gurus are completely “aware,” of what they should be doing in terms of marketing, the starting point is usually the missing piece.
For anyone looking to go into business, or looking to expand their business in 2019, I always suggest going back to the basics and examine “why” they are in business in the first place. When I began my post-collegiate career in vacation rental and real estate marketing, I was lucky enough to work for one of the most visionary leaders in our community, and he had a hugely impactful way of instilling trust in his employees: we memorized the mission statement of the business. While some people often mistake a “mission statement” for their unique “market position,” it does not discount that fact that sitting down and creating a mission statement for your brand, company, or service is perhaps the most impactful move you can make. So, what IS a “mission statement?” “A mission statement is the sentiment and driving force behind why you are in business or performing a service.” A mission statement is NOT HOW you will make money, but instead explains why you have chosen to start your business in the first place. Here are a few questions to ask yourself when you begin to sit down and create your own Mission Statement: -Why Are You in Business? -Who Are You Serving in the Process? -What Drives Your Passion? Who Do You Want to Make “Proud” Of Your Success? Once you have written down these things, the next step is using that information to achieve the following tasks: -Explain to the Public “Who You Are.” -Tell “Your Story” -Create Trust and Value between You and Your Clients. -Create a Basis for your Business Principles. Now that you have the basics for sitting down and creating your own brand or company’s mission statement, I encourage you to make draft after draft until you cannot stop smiling while reading it to your friends and family. Good luck, and don’t ever be afraid to reach out to me for help! -Adam In the world of marketing, there are two trains of thought: “Proactive” and “Reactive” strategies. For most companies, the big-wigs dictate the “reactive” approach, grasping for last minute dollars and thinking that marketing holds the entire future of their company within a few clicks of a mouse or strokes on a keyboard.
While reactive marketing tactics are necessary for a business to maintain, (they allow business to change their tactics at the drop of a hat), sometimes, businesses become too reliant on this type of marketing strategy and forget the most powerful tools in their planning process; “Proactive” marketing plans. I get it, no body likes to spend 2 weeks brainstorming on how they are going to progress their marketing strategy in order to overcome hurdles they might have faced in the current year. No mid-level marketing professionals enjoy pre-planning emails, or scripting social media campaigns around “what should” happen in the coming months. However, without a solid marketing template to derive a business’ efforts from, there wouldn’t even be a starting place for how to go about being “reactive” when the time comes. As we begin to seal the envelope on 2017, and most marketing departments are finalizing their 2018 initiatives, take the next few weeks to address the largest elephant in the room; how you will utilize what you learned over the last 11 or so months, and what you will do to take your company to the next level. When it comes to building your own personal brand, there are a few things that one needs to consider in order to be successful. Above all, having a great work ethic is the best way for your boss, and your future employer, to know that you are a valued employee. The majority of tasks that are required for most careers can and will be taught through on-the-job training, talent while important, is not necessarily a defining characteristic of a great worker. Next to a solid work ethic, however, is that “special something” that makes YOU stand out among the crowd. Whether it is a special way of wording your closing paragraphs on a big article, a special accent on a design piece, or even simply the way you dress for an interview. These “beyond the expected” traits are what make you irreplaceable; this is your own professional style. A few weeks ago I was in Austin at the Volcom Studio checking out some artwork by the renowned tattoo artist, Thomas Hooper. While “un-inked” myself, I have a keen eye for being able to tell styles of artwork, including flash, and was drawn to Hooper’s work. He had, on display, a few rather large pieces featuring ravens, each with two very distinct traits that made them extremely unique in my eyes. There was a special weight given to the outline of each feather, and the beak of each bird carried a special curvature at the very peak. To me, this embodied Hooper’s quintessential style; taking common elements and making them his own. This is what “style” is all about. It’s not about being the flashiest, it’s not about being the most refined. In all actuality, it’s not even about being the “best,” in a given field. However, by crafting and mastering your own distinct style in the work you do, you can create a following behind your work, and thus, create demand for your craft in the future.
While my intention throughout my "Pfaff-Land" series was to simply outline my automotive history through the reflection of my insurance cards on USAA.com, I couldn’t help but take a quick break and showcase one of the coolest, rarest, and most unique "family" cars available on Autotrader.com right now. While some people dream of buying a vintage Corvette Stingray, getting their hands on a 2nd generation Ford Raptor, or even slipping into the new Civic Type-R, my hopes, dreams, and lust all squander around wagons. I know what you are thinking… “Seriously, bro?” While the majority of men in the late 20s fall in love with the idea of wagon ownership through comments in Jalopnik.com, my infatuation stems from multi-generations of wagon enthusiasts. I grew up riding in the back seat (yes, outward facing) of a Buick wagon and Volvo wagon to school everyday while living in Virgina. When the time came to visit my grandparents in Indiana, their Mitsubishi Diamante Wagon (and later VW Passat wagon) would effortlessly fit our entire family, plus our luggage, within its cabin. When my mom’s Nissan Stanza (4 speed manual, BTW *rock on mom*) left our driveway to join its new family across the street, an emerald green, 1994 Toyota Camry wagon replaced it. It’s safe to say that I was destined for wagon ownership, and in terms of modern wagons, Mercedes-Benz makes the ultimate. Doug Demuro posted today that he recently snagged my holy grail of a wagon Pfaff-Land: An Automotive History based on My Insurance Cards - Volume 1: 2003 Mitsubishi Lancer ES8/7/2017 There are two types of “car people” in the world today: Those that love to work on cars, and those that love to drive them. While loving to work on cars usually means you love to drive them, loving to drive them doesn't necessarily mean you love (or even know how) to work on them.
I fall into group B. My love affair with automobiles started when I was about 4 years old, riding shotgun in my grandfather’s late 80s Air-Cooled Porsche 911 Carrera. Purchased the morning of my mother’s wedding (no lie) I’m sure driving me around in that vehicle reminded him of the two best things that ever happened in his life. But I digress. Loving cars didn’t necessarily mean that I was able to drive awesome vehicles from a young age. While I convinced my parents to let me get a 2003 Mitsubishi Lancer for my first vehicle, that automobile remained unchanged aside from a sweet Alpine CD player and some Infinity Speakers I had installed about 2 years into ownership. While the Lancer got me through High School, through College, back to Texas after college and then back to Alabama after that, no one could ever say it was a “joy” to drive. It was underpowered, transmission was slow (both the OEM and the two refurbished ones later installed of them that I had installed were slow), and the A/C (all three A/C systems) never worked without a rattle. The A/C control dials broke off faster than an Audi Sunvisor clip and the sloppy suspension (I had an ES) would bottom out if there were more than 3 medium sized teenagers/adults in the vehicle. With all that said, I truly loved the Lancer. So much so that in 2013 when it was time for me to drop the vehicle with 213K miles on the odometer, I actually looked to buy another one. Luckily The atmosphere surrounding most businesses these days is one of constant evolution. Business models, product offerings, and marketing techniques are forced to rise with the tide in an effort for most small and medium sized businesses to stay profitable. A decade or so ago, it was commonplace for a company to focus the majority (and in some cases 100%) of their efforts on a flagship product. These “flagships” are what marked the company’s stake in the economic landscape for current and future markets. Companies such as Hulu and VRBO were fighting to make their presence known, leveraging their platforms not as a “do more,” but a “do better,” type of service. As the years have passed, we have seen companies such as Hulu begin offering various stages of membership options, tailored to the needs of the customer; and even VRBO is heavily driven by professionally managed rental companies using the platform for exposure, not direct access to customers. Two years ago, when my wife and I were in the market for a new house, we had one feature that we knew we didn’t want - Red Brick. While some view red brick homes as stately or expensive, it reminded us too much of the childhoods homes we had no desire to replicate. “Out with the old, in with the new” was our mentality, and one that can apply to a lot of different business models. Imagine if “BMW” only manufactured the 7-series sedan; their “flagship,” model. Considering that it sells more 3-series and 5-series sedans than everything else in their line-up combined, it would seem like a terrible investment into the infrastructure for the company to make. Look at “Tesla” even. It didn’t take long for their introductory product, the Tesla Roadster to evolve into completely new concept offerings geared towards a wider buying public. They took an idea that was easily swallowed by consumers and applied it where there was demand. Companies that are looking to enter the market with either a good or a service, need to understand that offering a single product will never allow for continual advancement. You may take the market share of a niche hole in the economy, but even “Beats by Dre” sells items other than the ginormous “over ear” headsets that made them famous. “Branding” is a weird terms these days. The idea of creating a culture or instilling in a buyer’s brain everything you want them to believe about your business is difficult; and for some companies, damn near impossible. While some businesses force slogans and mission statements down the throats of their customers after every marketing meeting, other brands simply let their products shine and allow their branding to become ubiquitous with the service or goods they deliver.
Think about the most impactful brands whose goods you purchase regularly. Whether it’s Tide laundry detergent, Coca-Cola products or even Bunny Bread, chances are you have decided upon brand loyalty at some point, in regards to the products found within your home. Now, think of the latest marketing slogan put out by one of the brands whose goods can be found in your house or apartment…. Can’t recall anything within the last 5 years? Don’t worry, it’s my job to create catchy slogans and taglines and I can’t even tell you what Gatorade’s latest marketing blurb is all about. I will tell you one thing I will always remember, however; and that is a company’s logo. Whether it is the iconic Coca-Cola script logo or the Pepsi Co. ball, certain brands and their logo will forever be branded (pun intended) into my memory. So what can new company’s do to ensure their status as an “icon,” within their industry, later in life? Establish a really freaking cool logo. Let’s take a step back for a second and have a look at the different types of logos companies employ for their branding strategies. I consider there to currently be three types of logos most universally used by brands (you may or may not agree with me); let’s take a look at each one: 1. The company’s name is some sort of unique font with simple colors added per design. Think GAP. Think Coco-Cola. Think Levi’s. Think Google. While brands such as these oftentimes have alternative design elements that coincide or embellish their logo, for the most part, their name is synonymous with the branding image. This is a great tool for a new company to break into the market and do an equally great job at branding and educating consumers about who you are. Your name becomes the brand, and it builds trust between the customer and the company do to a feeling of transparency. You can’t deny it. We are living in a fascinating time filled with rapid updates to technology and mechanical advancement. Cars are becoming standard with back-up cameras, and many can parallel park themselves. Computers can run an entire hard drive through flash media, and televisions are now available in concaveness configurations to eliminate glare. While technology keeps pushing forward, it seems that the latest and greatest gadgets are easier than ever to make your own. While smartphones never seem to get any cheaper, computers, televisions, and even cars equipped with high-end safety features are now available to middle-income Americans. Through all the updates and advancements in technology, and their ever increasing available to younger and less salary-dense buyers, there remains a heavy aspect of the economic infrastructure that seems to get stronger and stronger everyday. This is the idea of the “maker movement.” As our society begins to place a heavier appreciation of design aesthetics and craftsmanship, some thanks can be given to HGTV for this one, master craftsman and those willing to dedicate themselves to a trade are finding their work increasing in value and in higher demand and the days go on. In 2007, I remember buying my first pair of red Wing Boots. Made by actual craftsman in Red Wing Minnesota, the boots were not cheap, especially for a college kid. However, they were the most obtainable option at the time. Setting me back close to $200, I am proud to say that I still have those boots with me today. However, walk into a Red Wing store and try to purchase the same boots today, and they will set you back nearly $280USD. Why the increase in cost you ask? While one could site an increase in transportation costs, increases in the cost a materials or even an increase in quality, none of these are worth their salt unless people are buying them. Which they are. IN DROVES. The modern man, and woman for that matter, values two things: High Value and High Quality. It’s why stores such as The Gap and other fast fashion companies are seeing their doors close in facilities they once anchored, and it’s why companies such as J.Crew stock their web store and catalogs with products created by these craftsman. When interviewing Mickey Drexler, CEO of J.Crew, a few years ago, a news source cited Drexler as saying (paraphrase) “We offer Alden Shoes to our customers because they are the best. Why try to reinvent something that already stands the test of time.” While the price point of Alden’s footwear offerings begin in the high-$400 range and easily crest four-digits for limited edition runs, the modern-prep retailer rarely can keep stock of Alden shoes in stores or online. As we continue to see a shift in consumers willing to pay more for the things they use everyday, and the obvious decrease in the technology associated with nearly everything else in our lives, how can large corporations maximize their profits on this “maker movement?” It all begins with Mark Hatch and his book, “The Maker Manifesto.” Outlining how communities can come together to provide work spaces for new ideas, weekend projects and even new As I approach my 30th birthday this year, I figured I would share 5 things that I wish I had done by the time I was 25 years old. Some things are financially based, others would have simply been for my mental health. Take what you want from this, and “experts,” please keep your comments to yourselves. This is simply my take on what I wish I had done differently. 1. Live with your parents for as long as possible: While some people may not have the option to live with their parents after graduating from College, many graduates don’t have another option in this day and age. With rental costs hitting astronomical amounts, it’s hard for people entering the job market to figure out how to make ends meet. I know my first job out of college netted me about 1,400-1,600 bucks a month, and with rental costs in the city I worked in nearing $900-1,400/month for a small apartment, there was no way I could have paid for rent, a cell phone, gas, groceries and insurance on my own. Luckily, I decided to live with my parents for about 9 months after graduating and was able to justify the longer drive to work for the money I saved in rental costs. The hardest part was getting used to not living on “my own,” as I had done in college. However, I wish I had not been so fast to find a job that allowed me to move out of my folks’ house as early as I had. Utilize living in your parent’s house as a way to quickly pay off your student loans or even start padding a savings account heavily. It’s hard to justify taking a brand new job in a brand new city without much savings. Set yourself up for financial success by saving as much as you can, and not throwing your money away on rent. You will be amazed at how quickly you can save $10-15K in a year or two when you don’t throw money away on rent, and you can quickly invest that money into step #2 below. 2. Buy a House as quickly as you can: My first rental property I lived in wasn’t fancy. It wasn’t all that expensive either. However, one thing that hit me after 2 years of paying rent for a 1 bedroom apartment was that I would never get that money back. For those that live in cities that allow for first time home buyers to slip into something in the $85-$130K range, I would do so as quickly as possible, as long as the mortgage (+ Taxes & Insurance) stays in the 18-25% range of your monthly income. Normally, the mortgage would be significantly less than if you were paying apartment of house rental costs, and cheaper houses are usually cheaper to maintain. Plus, when it comes time to getting married, having kids and moving into a larger home, you will have had a few years to build equity into the property and could move into a larger home for little to no cost out of pocket – this is key. You don’t want the first house you buy to be in the $250-$400K range. Start small, and build up your equity in the property quickly to ensure more financial freedom in the future. 3. Put off buying cars for as long as possible: I love cars. I love cars so much that I want to experience them all. Everything from sporty luxury sedans to jacked up trucks, I love them all and want them all at some point throughout the year. The biggest problem with this, however, is that unless you have a car that is paid off, and worth a good amount of change, you will always be “in the hole” when it comes to needing to trade in or trade up, either in size or quality. Chances are, the Honda Civic you drove through college will still last you until you turn 27. Just deal with it and enjoy not having the payments. Put $200-$300/month that you would have put towards a car payment either as extra principal towards your mortgage or into a savings account. That way when baby number one (or in our case, Baby #1 and #2 simultaneously) come into the picture, you have a good amount of money to invest as a down payment and you can ensure that the car is worth more than you owe on it at all times. If you find yourself staring at an expensive repair bill, which is hard to justify or even a scenario that requires you to upgrade in vehicle size or cost, you want to make sure your car is an asset to your financial situation and not a liability. 4. Find a hobby that has nothing to do with your career or revenue streams: Are you a banker but love home decorating? Awesome! Start a blog and share your passion with the world, but don’t let your “hobby” become a revenue stream. Once your passion turns into profit, it will no longer have the luster it once had. Pick up a relaxing hobby, such as, cycling, fly fishing or even kayaking. Something that forces you to do something completely different than you do for work, and never allows the lines to become intertwined. Whether you take 2-3 hours per week towards learning to play an instrument, in the mountains hiking or even at the beach surfing, those 2-3 hours per week will help your 40-60/week at work don’t become the only things you do in life. 5. Keep your relationships with friends strong: Gradating from college can be scary time for us all. We decide that we need to put our heads down and focus on building our careers, and a lot of times, do so at the expense of keeping up our friendships from college or even high school where they should be. When you don’t have the financial obligations or children or even pets, use some of your extra cash to fly out (or drive) and see your friends multiple times per year. The relationships that you keep healthy will be your biggest support system when it comes times to get married, or even when you just need someone to talk to. BONUS: Find a mentor: As we get older and leave the comfort and security of our parent’s homes, we need to ensure that we have a solid voice of reason that we can confide in at times. For some people, their mentor may be a family friend who works in a similar career field as you do, or it could simply be a stranger you meet through networking events. The key would be to find someone that has your best interests in mind; is quick to offer advice, but not always a solution. If you only instill trust in people that want to offer you jobs, they may not always have your best interests at heart. Learn from their experiences, and apply their mistakes to your own journey. |
Adam P. PfaffCurrent Musings. Incessant Ramblings. Enjoy. Archives
December 2018
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