Networking is Key to a Successful Self-Storage Business!

Networking with other people is one of the best ways to find self-storage properties, build your power team, and find other investors to network with. If you are not actively trying to network with others, you are not going to run a successful self-storage business.

When you wait for people to come to you, you won’t get the results that you are hoping for. You need to be actively reaching out to potential partners, self-storage owners, and power team members if you want to grow.

How do you find people to network with? They are everywhere. They are at the grocery store, in the elevator and most importantly, they are the people that you already know. The people that you already know, trust you, know your character, and are willing to vouch for you. These are great people to start with. You will be surprised at how many people you already know in the real estate industry. More importantly, you will be surprised at how many people they know in the self-storage industry.

Your sphere of influence may be a great place to start. The people that you know already know and like you. They know your character; they know that you are trustworthy. They know that you work hard. They know you. As a result, these people are willing to vouch for you. You never know who your friends and family know, until you ask.

By letting everyone know that you are looking for self-storage investment opportunities or people who are involved in commercial real estate, it gives them the opportunity to introduce you. Leverage those relationships, build out your power team and the people that you are investing with by talking to the people that you know.

If you truly don’t know anyone, start by talking to commercial real estate agents. They are going to know who the players are in the industry. They are also going to know who you need to talk to to build out your power team. However, you need to make sure that you are aware that they are going to be interviewing you while you are interviewing them. If they don’t think that you are going to be able to close a deal, they are not going to waste their time helping you. Make sure that they always think that you are worth their time.

You should also find self-storage networking groups. By being with other self-storage investors and self-storage owners, you will build the relationships necessary to build your business. In addition to meeting people who are already investing in self-storage, you will get advice from people who are current property owners. As you get more and more involved in these websites, you will be able to build a relationship with these owners and investors.

Networking takes practice. Start with the people that you are closest to. This way if you make a mistake, they will practice with you. Have them ask you questions. Then, when you get to people that you are acquainted with, you will be polished and prepared to answer those questions. Remember that anyone is a potential investor or can introduce you to a future investor.

Once you have let everyone know what you are doing, don’t be a one track song on skip. People will start to dread seeing you. Make sure that you find things to talk about that don’t involve asking for leads. Start networking with the people that you know. Start networking with people that you don’t know. Come up with a list of questions. Come up with an elevator speech. You can find potential partners. As always, happy investing.