Over the past 8 weeks I have completed the MyMBA program, a non-traditional education program where we evaluate career and business goals and take an alternative approach to achieve them. This program was exactly what I needed when the founder, Grant Nissly, reached out to me to see if I was interested in participating. The program allowed me to step back and reevaluate my real estate and career goals from a high level. During these 8 weeks, I was fortunate enough to meet some extremely innovative people that challenged me to step outside my comfort zone and take asymmetric bets to accomplish my goals. Through this course, I realized the power of writing and using social media to connect online.
Whether it is to find an investor, mentor, or property owner, it is so important to reach out and connect with people. It seems obvious, but many of us, myself included, don’t do it. For many, there is an inherent fear or reluctance to reach out to someone who they have never met before, despite there being more to gain than lose. The upside being they gain a mentor, investor, business, or whatever it is they are seeking, and the downside is the person or company simply doesn’t respond or says no. With that being said, I took away two key benefits from connecting with people:
1. Awareness: How are people going to know your value or needs if you don’t let them know? If you want a 50-unit property, but don’t reach out to owners, how do you expect to find one? The same can be said if you are looking for investors. If you want to raise $500k, but do not make it known to your network and seek out individuals looking for deals, then you shouldn’t be surprised if you end up empty handed.
2. Relationships: Connecting with people through social media allows you to build a relationship with someone, without ever meeting in person. I feel like I have got to know so many people by following their Twitter, YouTube channel, and Podcast. By putting out content and being authentic with your personality, its possible to start and build a relationship with followers.
When you write about a topic it helps sharpen your mental axe. Being able to articulate a concept in writing helps to solidify knowledge and expertise on that topic, more so than reading about it. Combining writing with outreach provides the following benefits:
1. Demonstrating Value: It ties into connecting with people, but through writing you demonstrate your value, competence, and credibility by writing about topics that you are knowledgeable and experienced in.
2. Personal Expertise: Putting concepts, ideas, or strategies into an essay help you better comprehend and think through the message you are trying to communicate. I found that when writing I come across come across road blocks or potential counterpoints that I had not previously considered. Thinking through these helps me make a stronger argument, or shift perspective.
3. Opportunity: Relating to commercial real estate specifically, writing and opens the door to more creative thought. For me I can get heavily invested in what I am working on and sometimes not see what is happening around me. For example when evaluating a deal, its important to not look at it through one lens, as there could be an alternative strategy or use that makes it work.