The race to the bottom is slow and painfulNow, it’s well documented, if you’re in block management, that there is a race to the bottom. And it’s fast, painful, and people are getting hurt. Lease holders, properties are not being managed properly, because there’s this charge to charging less on the car, which ultimately will mean worse and poor services for lease holders. But who’s driving the race? Who’s steering the ship? Who’s pushing the race? Now, when I’ve gone out to tender and I spoke to lots of people when I’ve done this over the years, generally speaking, I found in my experience, customers want to pay less. They don’t actually necessarily value the service as much as you think. And whilst yes, agents might be undercutting each other to win the business, but if it’s being driven by this desire to pay less for something, I’ve had customers want to pay less five years later, but how can they pay less for something five years later?
Because labour and material cost goes up. So staffing costs, operational costs goes up, up, up. But yet they want to pay less. So this drive and race to the bottom, who’s driving it? Is it agents? Is it bad agents who just want to undercut and steal the business and just get more? And that’s what people say, but actually… Or is it being driven by this desire for the consumer to just have something cheaper for less money that’s less valuable? See, I think it’s that. I don’t think it’s just rogue agents. In fact, I think this rhetoric over rogue agents is just got to stop, because every time an agent makes a mistake, you hear some bullshit about whose fault it is, and I don’t agree. Because out of all the mistakes they might make, they’re making millions or thousands of right ones and good choices, and making good decisions.
And that is the balance that you should hear in terms of the story. And you don’t hear it. You just hear when they make a mistake, as if we’re all robots, when we’re not. We’re not driving the race to the bottom. We should be charging more. Definitely should be getting more for it. And value should be put on the service, not the cheapness and the low cost, because what are you expecting? What is someone expecting? So my view is the rate of the bonds being driven by the consumer, and that is a dangerous game.
Is CPD Important?Why is CPD so important? It’s continued professional development. Some people might not know what that is. Maybe you do. But it’s not just about getting free training, because some people think that that’s what you’ve got to do 15 hours a year, or I think whatever it is, that’s what you go do. Read some notes that [inaudible] sends you, go on some free training. Boom, you’ve ticked a box. Your life isn’t going to change.
So whilst I applaud you for CPD, but it’s not the only thing you should do. If all you do is 15 hours CPD, you are missing out, and you’re not getting the growth that you deserve. If you really want to get somewhere, if you really want to accelerate, if you really want to build your career, build your business, you need to do way more than 15 hours.
15 hours is two days a year of training. That is not enough time, that is not enough money and you to massively invest in yourself. So if you’re a corporate employee, you should be leaning on your bosses, asking, finding training that you can get on so you can develop yourself and hopefully your career. So don’t just rely on CPD. Don’t see it as free training, and see it as an opportunity. But you should be doing a hundred hours a year or as much as you possibly can. I promise you it’s the way, it’s the future. You need to educate yourself, whatever it is. So CPD is important. Do your 15 hours, but trust me, you need to do way more than that. Okay. Thanks for listening. Hope you found it useful. Now just do it.
Do you see competition or potential partner?So some people say competition. I say potential partner. What do you say? So, the point I’m trying to get at here is that your competitor, they’re not really your competitor. They are kind of ish, but don’t see them that way.
What you should do is you should see them as a potential partner, a potential resource, a potential collaborator, someone that you might be able to have a joint venture with, someone that you can even just lean on, even become friends with them. Whatever connection you have with a competitor/partner can be positive. Don’t see it as a negative. You can learn off their mistakes. You can share resources. You can access them, their black book. You can leverage their connections. I’m running out of fingers, obviously, clearly, but the point is, is that don’t see your competitor as something negative. See it as something positive that you should embrace. You should want to be close to. You should want to learn off them, and you should be open to anything to do with them because, trust me, being like this with them is far more powerful than you just staying away, staying in your lane, doing your own thing. Because you’re wasting loads of opportunities where you could be massively benefiting from it.
So just think about it the next time you don’t go to that industry event, the next time you turn your nose up at competitor because they taken a site off you or you might be taking one over them, and you’re doing a handover and you’re being frosty with them. Think again. It’s an opportunity to build a relationship. There’s opportunities further down the road. Connect, collaborate, get close, be friends, and love each other. For crying out loud, for the love of God, love each other. Trust me.
By Desmond Moreira / March 10, 2019
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