WS1051: Build Loyalty, Rise Quickly with Whitney Sewell | #MindsetMonday

EPISODE 1051

[INTRODUCTION]

[0:00:01.6] ANNOUNCER: Welcome to The Real Estate Syndication Show. Whether you are a seasoned investor or building a new real estate business, this is the show for you. Whitney Sewell talks to top experts in the business. Our goal is to help you master real estate syndication.

And now your host, Whitney Sewell. 

[INTERVIEW]

[0:00:24.1] WS: This is your daily Real Estate Syndication Show. I’m your host, Whitney Sewell. So a week or so ago or more, I’m not sure when you’ll listen to it, but a previous solo show that I recorded, I talked about a secret that you need to go from raising a quarter million dollars like I did on my first project to raising 10 million in just a few hours… And that happened over a few years. And so a ton of work, yes, probably 10 years of work inside of those few years, however, it can be done, and one key component, and I wanna share with you today, I talk to the last time about the mission, it… You must have a mission, you must have something that is bigger than financial gain, and not only just for yourself to stay motivated, get out of the bed every morning, that financial gain is not always going to keep you going as an entrepreneur, as you are not down time and time again, you have to be willing to keep getting up, right, not just out of the bed, but when you’re knocked down as well, you have to be willing to keep getting up, and those are the ones who are successful financially as well…

[0:01:27.7] WS: Right, that financial gain comes from helping others and having that mission and knowing what that mission is, but not only you knowing what it is, but your family, your spouse, your children, your investors, your team, all those people need to know what your mission is. But something else I wanna share with you today, along the same line, that’s gonna help you to think through being able to grow a professional brand and business… Actually, last time too, I talk about me, if you are not operating with just as much integrity as possible, go do something else, this is not the business for you, do not take other people’s money, if you are tempted to operate without just as much integrity, even if it means having to do things that are very uncomfortable for yourself, it is so crucially important, obviously that is so important as an investor as well, the character of your operator is top notch before you look at the deal, before you look at the market. To all those things, the business plan, and you wanna know that this person has a character that you’re looking for in someone to trust right, and so there’s different ways that you can go about getting to know that, but I encourage you to think through that before you ever think about the deal, the market, all that stuff is so secondary compared to the trust of the operator, but one thing as an operator that’s going to help you is not being transaction-focused, but be loyalty-focused, a…

[0:02:56.2] WS: Will you be loyalty-focused, you want to gain loyalty, right. We’re gonna get into that a little bit today. I shared last time just the foundation of scaling, you must show up to give, you must show up to give, and that is gonna help you to build loyalty, which I wanna talk a little more in depth about ’cause I don’t be transaction-focused, if you want to scale, if you’re playing the long game. Transaction focus is not going to get you there. And so we all heard about, no, like and trust, right? Have done so many shows talking about that because it is so important it… You’ve heard that on the show many times, and helping you to scale fast, helping you to work with investors to raise money, which everybody trying to do… Right, everybody’s trying to connect with more investors and trying to get in front of them so they can get to know you, right, and eventually like you and then eventually trust you that I say that there is something that is missing and there is a missing piece to this, if people say it’s a triangle Wall, and I don’t say, I don’t say it’s a triangle, there’s a missing corner there, and that missing corner is loyalty…

[0:04:01.2] WS: If you want people to get behind you or to build loyalty behind your brand, once you can build the loyalty component, you’re gonna quickly rise to the top, and many of you right now are listening to this or watching the other on YouTube… If you’re on YouTube, I hope you will hit the subscribe button, so YouTube will share it with other people and other people can learn about the syndication business and investing in real estate passively and how to do that. So please hit the subscribe button if you are on YouTube or if you’re listening to the podcast app, I appreciate you subscribing as well, obviously, we would love a written review and rating, five star, please, we would be so grateful and share it with others, but once you have loyalty behind your brand, you’re gonna quickly rise the top, I was just sharing is that… I bet you’re listening many of you to this podcast on an Apple device, and often, I’m not an Apple user, but people that are… And they are so loyal typically to that brand, they see an Apple on anything, this assumed thing about the device that it’s just amazing, it’s gonna be the best advice is just assume that it’s gonna be the best device that’s made right…

[0:05:06.1] WS: It doesn’t matter if it’s a DVD player to a TV to monitor to a computer, to a cellphone, whatever, those air buds… That’s gotta be good. Right, and there’s such a loyalty component there, right, and even things like Harley Davidson, and I was reading some of the other day about Harley Davidson and just a lot behind that brand and think about it. You probably know somebody that has a Harley Davidson and tattoo, they’ve tattooed this logo on their body, it’s permanent, and so that is a massive statement of loyalty to that brand, that person is probably going to own a Harley Davidson the rest of their life or while they’re able to drive a ride one, but not only that, that loyal to that brand, you think… They’re sharing that with their friends. Of course, they are. Of course, they are, they’re probably ready to show that tattoo off also, and is such a massive statement to their friends as well that… Wow, he loves Harley Davidson that much. So I just want you to know that repeat business is one thing by Loyalty is another, it just changes things drastically, so the mission is such a big part of this, and you can’t half step the why your mission…

[0:06:15.7] WS: All those things which we’ve talked about many times on the show, and again, when I first started in this business, I did not have a clear picture right away, I did not think through this the connection of your why and your mission to your business. I did not put enough weight on that, and once I did, things started to change, ’cause it affects more people than just yourself, and I don’t believe that that most can think through that. Initially, you don’t realize how big that is, just for the people around you, your family, ’cause you need that support as well, you need them to be on board, but you just cannot half-step like what you believe, and again, you wanna lead with your mission when you lead with your mission, and you forget about win-win, you show up to give, like I shared about in the last episode, it changes things in, it starts to build that loyalty component, so you lead with the mission and the conversation changes. I’m gonna say to him, because it’s so important and people do not spend enough time on it, is thinking through what the mission is, but being good at sharing your mission, it’s a very different conversation with investors when you’re at a conference and there’s 200 people there.

[0:07:23.1] WS: Again, I know you just heard this, but I want you to think through this, are they gonna remember you if you have one minute with someone, much less five minutes with someone, what are they going to remember about you if you… Amongst 200 other real estate entrepreneurs are sharing about their market, their deal, whatever, you’re not gonna be remembered by the majority of the people there, but when you start off the conversation with your mission, you started off with why you’re doing this, it changes a conversation completely. It will also attract other people who believe what you believe it, there’s gonna be a different connection, and that connection, it’s almost gonna be unstoppable at that point, once there’s that connection that’s deeper than just financial gain or just real estate or whatever it may be. Maybe you have a connection around the market or the type of asset class or those things, but man, it needs to be even deeper than that, and so I encourage you to think through building the loyalty component. And so if I’m at a conference, I, again, I did not plan it this way, I didn’t realize it was gonna happen this way, I do not believe Simon Sinek written the book, Find Your Why…

0:08:29.7] WS: Start with Why I had to look at the bookshelf. Show had not written these books yet, I don’t believe, I’d definitely not read them till just recently, but… It’s so true, it’s so true. When you can start with your why, it changes things, but what I started to do, I go to the conference, I would meet people and you’ll see… You’ll meet so many people, right? Some people have the shot gun approach, they’re just blasting out their business cards as fast as they can go, which is so pointless, they have wasted their 50 bucks on that set of business cards… That’s for sure, and a lot of time and travel. All those things. You’re not building any relationship whatsoever with those people, you’re just hoping to gather those emails so you can market to them later, and that is such a superficial way of building relationships, and it’s not gonna get you the know-like and trust, and much less a loyalty component to being able to move fast and raise a lot of capital in this business and truly build those relationships and allow people to even see that you are trustworthy and for them to get to know you.

[0:09:25.5] WS: But when you can go up and have a conversation and they say, Oh, Whitney, what do you do? And I can share with… My wife and I have a foundation where we help families adopt children, there’s over a 150 million of orphans in the world, and it can cost 40-60,000 to bring one home through adoption, and so we’ve personally felt that burden numerous times, and we just led to help other families get past that because often it’s more than they make in a year, and then I’ll say that we do that through our commercial real estate business or our investors make amazing returns, while also knowing they get to play a role in this foundation and in helping these children, and then that changes the conversation completely, right. They want to know more about the foundation, obviously they wanna know more about our commercial real estate business as well, but now they see something different that they’ve not had another conversation amongst all these other 200 investors and entrepreneurs at this event, they’ve not had another conversation that started like that. Right, and hopefully, yes, I’ve asked them about them in their business for themselves or their family, their kids, what they like to do, all those things, right? That’s part of the relationship.

[0:10:31.2] WS: I wanna get to know them and understand what drives them, even what they’re looking for an investment, but even outside of that, just to get to know what’s important to them is very important to your relationship, obviously, but when it’s your turn to speak. Which again, I hope you’ve asked more questions than just talked… Right, I hope you’ve asked more questions and learn about them, but when they ask you and share something different than just about your real estate business, share something that shows your character, that’s often in the beginning too, why I started sharing about my military and law enforcement becoming a federal agent, and just some hard things through whether it’s adoption or whether it’s selling our farm and our house, all those things, so we could push the commercial real estate business, all those are hard things. Right, especially with becoming a Federal Agent and state place, that’s difficult stuff, they don’t just hire anyone for those positions, so obviously, I hope that that shares character and things that I want investors to know it, but the mission and the why, all that helps build up to that loyalty component. And when you can do that, the investors are gonna wait from other opportunities to invest with you because they want to see you succeed.

[0:11:43.8] WS: Yes, there’s gonna be a few that may still not care or think they don’t care, but there still will be a day where they finally realize, Hey, there’s just more to life than just financial gain that will come when you can help others… When you can help a lot of people, it’s directly connected… Right. To your financial gain, it’s how many people you can help, so go see how many people you can help think about your mission behind being it’ll help those people and how you represent that, how you share that with your family, your spouse, your team, your investors, right? So eventually, your business is gonna grow and you’re gonna help not only other people through your mission, but you’re gonna help your investors at the same time. Right. So have a blessed day. I hope you go to LifeBridgeCapital.com. Hope you’ll subscribe on YouTube as well. Hit the Subscribe button, so YouTube will share it with other people, and thank you for listening today, I hope you’ll reach out to info at LifeBridgeCapital.com, if I or somebody on our team can help you in any way, have a blessed day.

[0:12:42.0] ANNOUNCER: Thank you for listening to The Real Estate Syndication Show, brought to you by Life Bridge Capital. Life Bridge Capital works with investors nationwide to invest in real estate while also donating 50% of its profits to assist parents who are committing to adoption. Life Bridge Capital, making a difference one investor and one child at a time. Connect online at www.lifebridgecapital.com for free material and videos to further your success.

[END]