Finishing Well

[Kevin Cook]

It has often been said by psychologists, consumer behavior experts and leaders that people remember first impressions, final impressions and traumatic events above everything else. As a pastor officiating weddings and funerals I have seen the worst of transgressions erased by a death in the family or act of generosity. It's a strange phenomenon but a great thing. Essentially, we should always remember that the business we are in involves people, and knowing people can help you finish well.

You may have an arms length approach to your business. You may never directly engage with tenants or management companies... but you can appreciate them from anywhere. If I have learned anything along the way, it is that the world is much smaller than we think it is! Do your best to make the quality of the relationships you have as positive as they can be. You'll be happier, and the affects of your effort will create future success.

I will never forget the bank officer that called my commercial and residential investment notes in July of 2009. Like so many other small lenders, heavy risk grew as my vacancy rates went up, and the bank sought debt protection. I lost my entire portfolio that year but learned a valuable lesson... when he called me Christmas Eve. He talked to me for about 30 minutes, asking me about my family and business situation. He shared how his business had changed and that he lost a lot of friends and family through the year because of his position at the bank. He then explained how I could qualify to work with him again and even offered a few pointers on how we could work together to protect my future business before wishing me a Merry Christmas.

Did I go back to that bank? No way (had he been the President of the bank I may have). Did I accept all of his statements? Certainly not. Did I think about him differently after that day? Absolutely! He privately funded my next three fix and flips.

Merry Christmas to each of you, and Happy New Year! Celebrate. Enjoy some reflection. By all means... finish well this year; your efforts to finish could be someone else's start!