Golden-Nugget Shares - Business, CRE, Tech and AI - Sept 10-14

Also publish on LinkedIn Articles and our GoogleGroup InfoPortal

REMINDER:  We do ANALYSIS of Real Estate LEASEES, PROPERTIES, BUSINESSES

GOLDEN NUGGETS OF INFORMATION

Last week we introduced a powerful method of marketing - post “Golden Nuggets of Information” on Social Media multiple times daily or in regular emails (every 5-15 days).  We’ve been sharing the essence of articles and a few powerful comments regularly on social media.  They are: 

• Quickly consumed, memorable and powerful

• Linked to the source for much-deeper information

• The editing and summaries show understanding and thought leadership

• Mainly share content from professionals in Commercial Real Estate, Business Consulting, and Thought and Executive Leadership

• We share on:  LinkedIn (company), LinkedIn (personal), Twitter (automatically from LinkedIn), Google+, Facebook (company), and often Facebook (personal), then highlighted on this Blog (weekly), as a LinkedIn article (weekly) and our Group Announcement Portal (semi-monthly)

• A full list of these “Updates” is at LinkedIn.ProsperSystems.biz.

Of those who we've shared, the savvy ones Like or Comment on these "Golden Nuggets" as additional exposure, as well as serve the community and remind their followers of their wisdom.

BUSINESS AND COMMERCIAL REAL ESTATE GOLDEN NUGGETS - SEPTEMBER 4-14


Commercial Real Estate (CRE), Technology and AI

CREtech: 8 TECH TOOLS FOR REAL ESTATE COLLABORATION - Workframe, Dealpath, Trello, ClientLook, MREN, Samepage, Box, dotloop. "Working around the world with distributed teams requires winning collaboration tools for outstanding client service. These 8 tech platforms have friendly user interfaces and simplified information. Some are purpose-built for the commercial real estate industry while platforms are flexible enough to fit unique needs." (edited) Lnkd.in/ebDGAbT

GlobeSt.com: CRE ROBOTIC PROCESS AUTOMATION (RPA - Lnkd.in/ehwdgrb):

• "Autonomous vehicles, blockchain or drones could remake CRE, but widespread adoption is years off. However, RPA is already having an impact, automating record maintenance, web-page scraping, etc, making worker's jobs easier to perform. Will it replace workers?" (edited) 

• ELIMINATE JOBS? Or create new, higher-paying jobs? "Forrester Research predicts by 2021, RPA will be doing the equivalent work of nearly 4.3 million humans worldwide, and automation programs underway at State Auto Insurance Co's in Columbus OH, doing the work of a dozen FTEs. 'This isn’t about some far future of work - change is already happening, and accelerating,' PwC said in its 2017 'Workforce of the Future' [the meaning of 'talent' is changing - download Lnkd.in/eFiSZJS]." (edited)

• HOW SHOULD OFFICE CRE PREPARE? Changes are obvious right now: low-level jobs will be affected, but could eventually affect mid-level jobs. 'So far, new technologies have CREATED more jobs over the last century than they have eliminated, and in the last 15 years new job categories were created, which should continue, and support wider employment and adjacent jobs. CRE professionals should focus on flexibility and efficiencies, [as well as re-training].'" (edited)

Michael Beckerman is an expert on Tech in Commercial Real Estate (CRE), and recommends this Sep 27, 1pm ET, FREE, NON-SALES webinar, "Future of Real Estate and Technology: Trend Analysis from MIT's Center for Real Estate - Changing urban dynamics coupled with advancements in technology will lead to a reshaping of the way business is done in the real estate industry. What can you do to prepare for rapidly changing technology? How can real estate professionals win today and still be prepared for tomorrow?" (edited) Lnkd.in/ezZpW8h 

Commercial Real Estate (CRE) and Business

Stephanie Vozza: PHRASES KILLING INNOVATION (cont'd) - WHEN I WORKED FOR... "Innovation is about the unknown, and trying to compare it to a past experience will constrict the conversation, versus establish expertise. It’s possible that company isn’t even doing it that way any more." (edited)  Lnkd.in/eCzFu9F

Frank Kusmer: GROWTH DEBT CAPITAL-RAISING TIPS (Lnkd.in/emKvz7f):

• "Proper RECORD KEEPING, is too-often lacking among busy entrepreneurs, It's critical to maintain detailed professional financial records and annual fiscal statements, or you'll turn off a lender and shows poor managerial skills." (Edited - from last week)

• "YOUR PLAN: Be fully prepared with a current business plan, showing past performance of your company, exactly how you will be spending the amount loaned, the competitive advantages, projected results and your capability to service the debt." 

• "TIMING.  Borrowing when your business is weak or heading into a crisis may cost more [if still possible].  Anticipate and plan for all your cash flow or project requirements, and seek financing [well] before you start to feel the pinch." (Edited)

• "RIGHT AMOUNT.  Care is needed in taking on debt, but underestimating the full costs of an expansion or project and borrowing too little can result in a serious cash flow issue when later facing unexpected expenses. Ensure your forecasts include all scenarios and contingencies for unforeseen expenses." 

• "BEYOND INTEREST RATE.  The loan size, term, repayment flexibility and collateral requirements can be more important than the interest rate.  Examine and weigh all of the loan terms carefully," for optimum life-cycle cost.  (edited) 

• "INVEST in YOUR BUSINESS.  Paying the loan back quickly is not always a good goal - better spent growing your business. If the return on investment in your business earns more than the interest saved by paying down the loan faster, then consider slowing down your rate of repayment to the minimum." (edited)" 

Enzo Calamo: REAL WEALTH MANAGEMENT (such as your CRE (edited - extending beyond family offices - Lnkd.in/eCnpw44):

• "HEALTH MGT. You don’t even need to be seriously ill to see that your health, and the health of your loved ones, must always be your number one priority.    

• "TIME MGT. There are different time frames to achieve our various goals, but there's only 24 hours in the present day. The present is all that is real - use it wisely."

• "RELATIONSHIP MGT. There is no doubt that relationships are essential to our well being and happiness, so make relationship management a key focus.  (edited)

• "FINANCIAL MGT. Though money should not be your #1 priority, your financial capital will definitely have a significant impact on your life journey. Money management does not lie - how a person spends his or her money will always reflect what is important to them in their heart." (edited)

• "STRUCTURAL MGT. A dream is just a dream unless you do something to make it happen, whether it is people, process, products, legal structures, accounting and tax planning, finances or sales." (edited)

• "EXPERIENTIAL MGT. Your life is at the very core of REAL wealth management. Experiencing your bucket list must be one of the top priorities in your life. Everyone has different talents and aspirations in life so real wealth management must be allocated fairly, not necessarily equally." (edited)

• See article for Final Priority

Dave Kerpen: SECRETS to loving the WORK YOU'RE WITH (continuing Lnkd.in/eKVEAF8):

• ENJOY LEARNING.  "It's an investment!.  As long as you're learning something new, there's a good reason to enjoy it, apply it to something you do enjoy working on (even if it’s a hobby or a passion project), and further your career.  –Scott Weiner, Founder, ClosingBell

• "DISTRACT YOURSELF. When a dreaded task is looming, don't procrastinate or slog through the work. Listen to a favorite podcast or playlist, or break every 20 minutes Pomodoro-style and watch a five-minute video on YouTube to refresh. –Blair Thomas, Co-founder, eMerchantBroker.com LLC" 

• "THINK BENEFITS. Do for a purpose. Think what's accomplished by completing the task - helps my perspective and attitude: more revenue, happier employees, a satisfied client or being more organized. –Angela Harles, Managing Director/ Co-Founder, AcrobatAnt" (edited) 

• More next week 

Anthony J James: PREVENT BORING INNOVATION with the BUILD/BURY IT TEST (want a 'Yes!' and Buyers available for those with ALL 'Yes's - Lnkd.in/dkEE_SF):

• Continued from August 24 post 

• "Does it respond to changes in consumer/business behaviour?" Many businesses will excel because they anticipate, or very quickly see,  market changes, then respond clearly and decisively with strong marketing; most will not and suffer.

• "Is the value of the innovation easy to understand (even if technically complex)?"  

• "Will its development inspire people to talk about it?"

• "Is it genuinely new, and not just a new costume for old products and practice?

• "Are you getting people calling you up to see how they can get in on the project?"

• "Are you SO EXCITED about your innovation that you want to spend all your spare time thinking about it?" 

Jonah Berger: TIPS 4 BETTER GROUP DECISIONS (Lnkd.in/eCHF4Kw):

• "VOTE PRIVATELY. Using written ballots encourages independence, allowing freedom to 'speak their mind.' Writing down a preliminary opinion before a meeting can help, making it harder to stray from one’s convictions, and increases the chance that diverse viewpoints will be heard." (edited)

• "DESIGNATED DISSENTER. Another way to avoid groupthink is to encourage dissent. Appoint someone - for that meeting - to be a dissenting voice, providing counterpoints to arguments being raised, bringing up contradictory evidence and others to speak up and raise their own concerns." (edited) 

Oleg Vishnepolsky: Effective PROJECT MANAGEMENT KEYS (continuing Lnkd.in/ezQ5QsF):

• "Force ISSUES into the OPEN. Discover and then force issues into the hands of people responsible for resolution," for accountability, delegation and collaboration. (edited) 

• "TRACK AND REPORT Key Performance Indicators (KPIs).  Milestones, number of open issues, percent-complete, bugs, project expense."  Online database, even a GoogleDoc Sheet, allows contribution and viewing by the entire team.

• "CREATE AND DRIVE REALISTIC schedules and project plans.  A plan is not a plan without all key participants understanding their tasks and responsibilities, without dependencies, without risks and issues highlighted and managed," AND making timely contributions to the internal communications system.  (edited) 

• "KEEP EVERYONE INFORMED without over-communicating. Too many meetings and emails can really kill the energy and bring everything to a crawl. Too little, and you are operating in the dark. If the project managers are empowered and are on top of things, there will be no over-communication." (edited) 

Much more from earlier at LinkedIn.ProsperSystems.biz

PROSPER SYSTEMS, LLC (.biz) • Kenton H Johnson (.com), Founding Member

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NOTE:  We do ANALYSIS of Real Estate LEASEES, PROPERTIES, BUSINESSES and STARTUPS