| Coaching You to the Next Level | | | | investment coach? |
| I want to take a bit of a side-trip from my usual | | | | Let me note that we will soon release coaching |
| hard-hitting commercial mortgage loan and | | | | programs for investors and loan agents who want |
| investment property advice. I had the opportunity | | | | to break into and excel in the commercial side of |
| to spend a few days at the Pacific Life Open | | | | the business (email us here for more information: |
| tennis tournament in Indian Wells, California last | | | | ). However, until those coaching programs are up |
| week while on vacation and noticed a minor, but | | | | and running, here are some suggestions on finding |
| significant change in the rules. The change was | | | | and using a coach to help you get better at |
| minor in that the players were allowed to ask for | | | | investing faster: |
| a time out to spend time with their coaches | | | | 1. Consider a retired commercial developer, |
| between sets. It was significant because the | | | | investor, or real estate agent. You could check |
| opportunity to speak with their coaches helped | | | | with a local commercial real estate office to ask if |
| several players turn their games around. | | | | anyone is retiring soon or has recently left the |
| For those of you not familiar with the rules of the | | | | business. Approach them with the concept of |
| Association of Tennis Professionals (ATP) coaching | | | | becoming an apprentice and giving them a piece |
| during a match was, until recently, against the | | | | of your profits. They might just enjoy passing on |
| rules. In fact, a player could be penalized points | | | | their wealth of experience. |
| during a match if the umpire felt that he or she | | | | 2. Check with a local S.C.O.R.E. office to see if |
| was getting verbal or non-verbal coaching tips | | | | there is anyone who has experience in the |
| during a match. | | | | commercial real estate investing or development |
| I point out this concept of "coaching" because it | | | | businesses. S.C.O.R.E. is a non-profit business |
| has implications in commercial real estate investing. | | | | resource group and can be found at |
| Have you ever stopped to consider why the best | | | | 3. Do you know anyone in the business that is |
| sports figures and Fortune 500 CEOs hire | | | | already successful? Approach them with the idea |
| coaches? On the surface it doesn't make sense. | | | | of becoming an apprentice, but be very mindful of |
| These people are the best in the world at what | | | | their time when you do. Again, consider offering |
| they do, so who is realistically going to be able to | | | | them some of your profits as compensation. |
| help them get even better? Well, as I'm sure you | | | | 4. Consider a personal or business coach for hire. |
| already know, the reason that they are the best | | | | There are a lot of people in this business and |
| is because they have coaches. Coaches provide | | | | some of them are very good. I'd caution you to |
| several things for those at the top of their | | | | be very careful whom you hire, however. You're |
| profession and those seeking to improve their | | | | looking for a specialized type of coaching here, |
| performance: | | | | more than the generalized life coaching that a lot |
| 1. An external, unemotional perspective to help | | | | of these people offer. |
| the one coached see things that they can't | | | | I would suggest a few other points in selecting a |
| perceive about their performance. | | | | commercial real estate coach: |
| 2. Information on new aspects of the profession | | | | 1. Make sure that they have actual experience in |
| or related professions to help increase | | | | commercial real estate investment, sales, or |
| performance. | | | | lending. |
| 3. Networks of other professionals who can help | | | | 2. Hopefully they will provide you with access to |
| in areas where the performer is weak. | | | | experts in related fields to help you understand all |
| 4. Experience from their past challenges, helping | | | | aspects of the business. |
| the one coached move ahead faster. | | | | 3. They should allow you to access other |
| So what does this have to do with commercial | | | | investors so that you can network, share |
| real estate? | | | | resources, and benefit from each other's |
| Whether you're just starting out or are a | | | | experience. |
| seasoned development professional, I can | | | | 4. They should provide an archive of useful |
| guarantee that you'll get better if you enlist a | | | | information, resources, and tools for your benefit, |
| commercial coach or coaches to help you grow. | | | | accessible at any time you need. |
| So where can you find a commercial real estate | | | | |