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Business Rule #14:
Perception Counts
December 17, 2004
(PAGE 6 of 6)
She left, and two days later I had my attorney send over a formal offer letter from her office, on her letterhead. Since my lawyer is with one of the largest real estate law firms in Chicago, the name was instantly recognizable. After that, he was more than happy to stop showing the property to other buyers and quickly agreed to execute a letter of intent with us that would tie up the property. Even better, he completely agreed to all of my terms. I ended up paying a slightly higher cost but eliminated the down payment all together. How? Remember how I said that he lived in one of the units? Well he still does; I gave him seven years free rent on that unit which I also completely remodeled in the bargain.
Who I was in reality didn’t seal that deal; it was the perception of how huge my company was that did it, even though back then it wasn’t. That deal may have been built on perception, but what made it work was my keeping my word. I closed the negotiation quickly and for him it was the ultimate deal: not only did he get to stay in his apartment for free, but he got paid to live there. Not bad. For me though, it was a positive gold mine. I proved myself to the banks. This one deal really catapulted my career. I bought a location with something that he hadn’t noticed: a walkway that lead right to the blue line of the public train system. I marketed the building to young-and-upcoming college grads who couldn’t afford to live in the city but wanted to live nearby. In short, I bought a building with only four tenants, and one year later I was 80% occupied.
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The power of perception. Use it to your advantage.
Well, that’s it! The final column for this season of The Apprentice Rules. It was a blast, and I hope that you got something out of it. I would like to thank the staff at The Apprentice Rules for their support and guidance in writing these columns. The masterful editor in particular needs to be singled out in this regard. I also want to thank all of the readers who have supported this section of the site. You’ve made it a real pleasure to write and explain how business works.
To all of my detractors, I have love for you as well. Without you, I could never be who I am or strive harder to continue to be bigger and better than before! I thank you for your harsh criticisms and your nonsensical replies and e-mails. It only helps me to remember that I’m LaVelle: the best… and you’re not.
Hey, if I don’t deserve the very best, then who does?
LaVelle Ward
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The power of perception. Use it to your advantage.
