So we touched on this partnering concept yesterday. Working together will produce a great deal more business than working alone. Even in our real estate business.
It comes as no surprise that our speaker this month gave me a great story of working together – and then pulled the rug out from under my excitement with the conclusion.
Let me explain.
On many days I work out of my car. Sadly, fast food is no stranger to my routine. I am working hard to break the habit – but don’t be shocked if you catch me at a drive-thru – just sayin’.
So, back in 2015 an ad agency for Burger King suggested they team together with McDonalds for one day (World Peace Day) and create a McWhopper. Burger King loved the idea and suggested for that day only – proceeds should go the the non-profit Peace One Day.
The campaign was a huge marketing/advertising success. It got a TON of press.
Billions of impressions, $138 Million in free airtime on major networks – around the world!
Sadly – McDonalds took a pass on the offer.
The McWhopper never actually formally happened. It was never available for purchase.
But just the idea was so well received that people took it upon themselves to create the sandwich on their own. A DIY combo sandwich from two fast food titans!
My two cents – what a horrible mistake for McDonalds.
I know in my own business – working together, even with so-called rivals, can create winning situations for everyone involved.
What most people don’t realize – they are already doing it.
Unless you nail every board, paint every stroke, do you own title work and finance every penny of your own projects, you are already “partnering” with other people to make your property business thrive.
Our speaker at WREIA this month is no stranger to partnering on projects.
In fact, at one point he realized that he could expand his business if he found a local builder that he could negotiate terms with to build for his development. Instead of doing just one home at a time, his company quickly went on to build 8 and even 16 homes at a time.
Would you like to have “all” the profit from one house, or would you like to share the profits on 16 homes?
Do you think you get bigger discounts when you order sets of 16 toilets or shower heads, or siding or insulation? Of course!
In fact, when the dust settled, the profits were actually larger when building at scale vs. trying to do everything on his own.
This is a perfect example of working together leading to more success and profits for everyone.
I know, we shared these details already, but if you missed it here is a little more about what will be happening at our next WREIA meeting.
Join us next Monday, Sept. 23rd for the food, the network, the learning and expand your belief that other people are out here in the DC area making money in Real Estate.
The topic this month is “MARKETING”. Our speaker this month is going to show you how he has grown his personal business by helping me and other clients across the country uncover hidden real estate investment gems in our local areas.
Let me tell you – This stuff works.
His low key, under-hyped and personalized mix of online and offline marketing strategies has helped my business, and I know it will help yours too.
We will be talking about a variety of online and offline strategies you can mix to create a wildly successful company that few people outside of your list of clients will even know exists!
Why would you want to keep your business quiet? There are a variety of reasons, a few of which we will be discussing next Monday at WREIA.
One of the interesting parts of next Monday is going to be a quick section on the placebo vs. nocebo effect on your marketing. It’s eye opening and I know you’re going to enjoy this part.
Get ready to take some notes and bring your questions as well! If you are struggling with some aspect of your marketing here is your chance to ask a professional who has spent 20 years marketing various businesses online and offline.
After starting with classified ads in the Washington Post, radio ads on NY and DC area stations, our speaker discovered and ran his first ads online back in 1999 on a little site called Goto.com.
He soon went in search of and implemented automation tools to help assist with the hundreds of ads he was running. To this day he still uses tools to make the marketing side of business much easier, effective and more profitable than I ever thought possible. He has even taught me how to use some of these tools “on the fly” when I’m out looking at properties and projects.
From very modest beginnings, his passion for automation helped him build a solid business of his own and helped other companies grow to $30 Million and more in annual revenues.
Let’s put it this way – if you want a historical look at what has happened and a peak into where advertising and marketing is headed, you should join us at WREIA next Monday.
You can reserve a seat and join us at the September WREIA meeting at this link.
Kick off next week by learning and growing your business at WREIA!
John
P.S. I have been lending here in the DC area and beyond for a long time, as a hard money lender, private lender and partner. If you need to talk over a deal, let me know by giving me a call, text or email. Or, meet me at the September WREIA meeting and lets go over some details in person! WREIA meetings are a great place to get deals done!
P.P.S. WHOLESALERS – BRINGS YOUR DEALS TO SHARE WITH THE ROOM!
P.P.P.S – Be an action taker and take the next step up in your career, put it on your calendar and plan on attending WREIA this Monday.