How To Hold A Great Business Meeting

If you operate a business, regardless of whether it is a family business or a multi-national Corporation, you’re likely going to want to hold regular business meetings. This can really help you to regain the focus on your business and to make sure that things are moving along as expected. There may also be specific needs for these meetings that need to be considered as well. Of course, any successful meeting with your business is going to require careful planning on your part. Here are some things that you can do in order to make sure that your meeting is as successful as possible.

One of the most important things that you can do is to prepare properly by setting goals for the meeting. This should be done, even before the overall structure of the meeting is designed. In some cases, there are going to be some serious goals that need to be discussed, including some that are going to affect the business for many years. These should be discussed first, making sure that the focus is directed to that information. You should also set smaller goals for the meeting as well, perhaps asking yourself questions such as, what do I expect to get from this meeting and what should I accomplish?

If you’re going to be having the business meeting at another location, it’s very important for you to view that location in advance. Consider the fact that you’re going to want the attention of everyone that is at the meeting to be as focused as possible. If you choose an area that is cramped or perhaps too dark, it is likely that people’s attention is going to wander considerably. Take a little and turned to tour the area and to choose something that is going to be right for everyone involved.

Regardless of whether you are going to be all in the same location or if you’re going to be holding the meeting virtually, it may be necessary for you to have the sound and light system set up properly. In some cases, this can be done using your own equipment but in other cases, very specific types of AV integration may be necessary. Look for a company that is able to hire out their AV services and to provide you with the equipment you need to get up and running properly. Be sure that you keep the number of that company available as well, it is likely that you are going to be able to use them in your everyday office needs as well.

Finally, make sure that you keep the budget in mind when you are preparing for any type of meeting. Of course, the budget should not be the make or break a deal but it should be sufficient in order to provide you with everything necessary to get those individuals under one roof. Once you have things set up properly, you can begin planning for the meeting even further by sending out regular information, including reminders about the meeting and what is going to be discussed.

The Art of Brokering Commercial Loans

Doc’s Secret # 2: Biggest Mistake of the New Commerical Broker

I take many calls each day as “The Money Doctor”. I receive tons of calls from broker’s around the country. These are all good, honest hardworking people. Many of these calls could have been avoided because the beginning commercial broker is not aware of the proper and proven operating strategies.

The conversation typically goes like this:

“Hey Doc, I’m new at this and I just landed a mega deal. Are you sitting down? I have signed an exclusive with a borrower for a $25M dollar deal to finance a health care facility. I sold the client that I could get the cash for him. My question is this: “Doc, where can I get a loan for this guy?”

My heart goes out to the broker and to the client! “Why didn’t you find the lender first , find out what areas the lender is interested in and what their requirements are? Then advertise for that certain type of loan? If you did this, then when your future clients call you would know where to take the loan and your clients would be seeking that specific type of loan.

If you did it this way, then all you have to do is qualify the borrower, collect the documents and package them to your lender’s request. That is much easier and will cause fewer gray hairs!
Unfortunately, these brokers are calling because they didn’t do it that way. Now the broker is scrambling for a lender , while stalling the borrower: not a good position to be in! The chances of success, of obtaining a commission on that $25M lead is slim, unless of course he wants to co-broker (and of course I’ll be happy to help! J)

Please the secret here is simple. Many brokers suffer from Lender Phobia. They are literally afraid to speak to the “Checkwriter”. Do yourself a favor and call some lenders and interview them. Lenders expect to be called by professionals. They make money when you bring them good loans. They want your business.

There are many broker friendly commercial lenders. It is important for your career to begin to groom your lending relationships. These are the people that will put money into your pocket month after month.

To Your Success!

Commercial Brokers – Adjusting to the Pain of the Property Market Today

This commercial property market presents most agents and property owners with a few challenges. That being said, opportunities always exist for those that work hard and look deep enough for a solution.

When the commercial and retail property market gets tougher there are some rules that should generally be worked through:

  1. Existing tenants are the lifeblood of the income and the cash flow for the property. Those tenants are also likely to be under some pressure in similar ways to the property owner. Flexibility in lease terms and conditions is required to ensure that good tenants stay in the property for the medium term. It is better to have a tenant paying 80% rent than a long term vacancy that pays nothing.
  2. Any anchor tenants will be important to the stability of a property that includes smaller specialty tenants. This is the case in retail property. Special management procedures are required. Work closely with any anchor tenants to ensure that their occupancy remains stable and productive. A successful anchor tenant attracts people to the retail property.
  3. Market rent reviews should be negotiated with a view to tenant stability; that means sensible and flexible rent terms that work for the tenant and the landlord. There is always a compromise situation that can be achieved when it comes to a rent review. If a landlord gives the tenant some leeway or benefit, then the tenant should be asked for some benefit back to the landlord (renovation, longer lease term, exercise of option, etc).
  4. Negotiate any lease options as early as possible to ensure that the existing tenants do not look to move elsewhere. Other landlords will be on the hunt for tenants for their properties.
  5. The maintenance of an existing property should be watched and managed well. There is a fine balance between low maintenance levels that destroy property usage and productivity, versus delayed maintenance that keeps presentation at reasonable levels for tenants and customers. When people and businesses move away from a property due to low levels of maintenance and presentation, it is a hard trend to stop.
  6. Incentives for any new lease will encourage new tenants to a property; they will also help existing tenants to potentially take up a new lease in the same premises that they currently occupy now. It is important to keep a check on existing incentives being offered by other landlords in the same general location. Do not lose your good tenants to another landlord for the sake of a few thousand dollars in rent. The vacancy downtime will cost you a lot more.

When the property market gets slower or tougher, all parties involved in property investment and occupation should cooperate and be open to more flexible lease terms and conditions. In this way they can spread the property pain and maintain a reasonable cash flow in slower times.

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