Meeting local biz and possible competitors
Investor · Raleigh, NC · Member since 2024 · 17 posts · 15 votes
Meeting local biz and possible competitors
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Abel CurielBusiness Member
Real Estate Agent · Queens, NY · Member since 2016 · 2k+ posts · 1k+ votesQuote from @Kyle Westerman:
This week my community is having a meeting at a local coffee shop to get to know the neighbors. We were invited and we have a vacation property/STR in the community. We know there are other STR owners blocks away from us and theirs opportunity to meet them as well as other business owners? If you were me, how would you prepare for this networking event? What outcomes would try to accomplish after event? If you met the other STR owners, would you introduce yourself to them as another STR rental owner too? How would you approach that conversation if you did?
Hello Kyle and welcome to the BP forums!
Great questions...
I would prepare by trying to find out who all will be at the networking event. Find out which business will be hosting, sponsoring, attending.
As far as outcomes... the goal would be to simply make quality connections with people and exchange some form of contact information with those quality connections. Thats the first step... step 2 is the hardest which is to keep in touch with everyone.
This is not to be mistaken with the act of printing dozens of business cards and handing them out to everyone you shake hands with. In my opinion, that is a total waste.
Instead, I would pay 100% attention to who I am speaking with at the time, remember their name, remember 1-2 talking points about them. Contribute to the conversation but try not to take over... let them speak the majority of the time and ask questions... get curious!
If the conversation is substantial, add them on social media, collect their name, email & phone number and share yours as well.
If speaking with another STR owner, I would introduce myself as a fellow investor/STR owner. If you get a sketchy vibe from anyone, no need to divulge too much information but my guess is that sketchy people would not want to check out a networking event in a small community. Again, get curious about the people you're speaking with. If the conversation gears towards STRs, share 1-2 tips/anecdotes that can add value to them... the same can be applied to other business owners/contacts made during the meeting.
You can't go wrong with adding value and expressing genuine interest in what others have going on.
You may not have much time to read these before your meeting... but below are 2 books that have changed the way I look at networking events... you can also search these on Youtube for book summaries!
- How to win friends and influence people by Dale Carnegie
- Never Eat Alone by Keith Ferrazzi
Keep us posted on how it goes at the meeting!
Abel
REbuild Team - eXp Realty5234 Reviews
9 Replies
- 2yAbel CurielBusiness MemberReal Estate Agent · Queens, NY · Member since 2016 · 2k+ posts · 1k+ votes
Quote from @Kyle Westerman:
This week my community is having a meeting at a local coffee shop to get to know the neighbors. We were invited and we have a vacation property/STR in the community. We know there are other STR owners blocks away from us and theirs opportunity to meet them as well as other business owners? If you were me, how would you prepare for this networking event? What outcomes would try to accomplish after event? If you met the other STR owners, would you introduce yourself to them as another STR rental owner too? How would you approach that conversation if you did?
Hello Kyle and welcome to the BP forums!
Great questions...
I would prepare by trying to find out who all will be at the networking event. Find out which business will be hosting, sponsoring, attending.
As far as outcomes... the goal would be to simply make quality connections with people and exchange some form of contact information with those quality connections. Thats the first step... step 2 is the hardest which is to keep in touch with everyone.
This is not to be mistaken with the act of printing dozens of business cards and handing them out to everyone you shake hands with. In my opinion, that is a total waste.
Instead, I would pay 100% attention to who I am speaking with at the time, remember their name, remember 1-2 talking points about them. Contribute to the conversation but try not to take over... let them speak the majority of the time and ask questions... get curious!
If the conversation is substantial, add them on social media, collect their name, email & phone number and share yours as well.
If speaking with another STR owner, I would introduce myself as a fellow investor/STR owner. If you get a sketchy vibe from anyone, no need to divulge too much information but my guess is that sketchy people would not want to check out a networking event in a small community. Again, get curious about the people you're speaking with. If the conversation gears towards STRs, share 1-2 tips/anecdotes that can add value to them... the same can be applied to other business owners/contacts made during the meeting.
You can't go wrong with adding value and expressing genuine interest in what others have going on.
You may not have much time to read these before your meeting... but below are 2 books that have changed the way I look at networking events... you can also search these on Youtube for book summaries!
- How to win friends and influence people by Dale Carnegie
- Never Eat Alone by Keith Ferrazzi
Keep us posted on how it goes at the meeting!
Abel
REbuild Team - eXp Realty5234 Reviews - Investor · Raleigh, NC · Member since 2024 · 17 posts · 15 votes2y
Quote from @Abel Curiel:
Quote from @Kyle Westerman:
This week my community is having a meeting at a local coffee shop to get to know the neighbors. We were invited and we have a vacation property/STR in the community. We know there are other STR owners blocks away from us and theirs opportunity to meet them as well as other business owners? If you were me, how would you prepare for this networking event? What outcomes would try to accomplish after event? If you met the other STR owners, would you introduce yourself to them as another STR rental owner too? How would you approach that conversation if you did?
Hello Kyle and welcome to the BP forums!
Great questions...
I would prepare by trying to find out who all will be at the networking event. Find out which business will be hosting, sponsoring, attending.
As far as outcomes... the goal would be to simply make quality connections with people and exchange some form of contact information with those quality connections. Thats the first step... step 2 is the hardest which is to keep in touch with everyone.
This is not to be mistaken with the act of printing dozens of business cards and handing them out to everyone you shake hands with. In my opinion, that is a total waste.
Instead, I would pay 100% attention to who I am speaking with at the time, remember their name, remember 1-2 talking points about them. Contribute to the conversation but try not to take over... let them speak the majority of the time and ask questions... get curious!
If the conversation is substantial, add them on social media, collect their name, email & phone number and share yours as well.
If speaking with another STR owner, I would introduce myself as a fellow investor/STR owner. If you get a sketchy vibe from anyone, no need to divulge too much information but my guess is that sketchy people would not want to check out a networking event in a small community. Again, get curious about the people you're speaking with. If the conversation gears towards STRs, share 1-2 tips/anecdotes that can add value to them... the same can be applied to other business owners/contacts made during the meeting.
You can't go wrong with adding value and expressing genuine interest in what others have going on.
You may not have much time to read these before your meeting... but below are 2 books that have changed the way I look at networking events... you can also search these on Youtube for book summaries!
- How to win friends and influence people by Dale Carnegie
- Never Eat Alone by Keith Ferrazzi
Keep us posted on how it goes at the meeting!
Abel
Thank you Abel! Just the type of feedback I was looking for! Thank you for the two videos, I definitely don’t have time before the meeting to read the books so this is very helpful!
sure thing about the meeting!Best
Kyle
- Rental Property Investor · south carolina and michigan · Member since 2023 · 348 posts · 226 votes2y
Friends close/enemies closer.
always great to know the competition. There's a lot of ego in this business and I love to hear them talk so I know what they're doing.
- Real Estate Consultant · Ann Arbor, MI · Member since 2023 · 85 posts · 93 votes2y
What a terrific opportunity! Any time we can make connections empowers us to disarm any future potential detractors. In your shoes, my goal would be to get to know folks and make connections - Open the door to have them communicate with you should there be any problems with the property and ensure they call you (not the cops).
Unless you know their perspective on STR, I'd avoid leading with that and stay focused on simply connecting as neighbors.
Kate
- 2yAndrew SteffensBusiness MemberTampa, FL · Member since 2022 · 3k+ posts · 3k+ votes
Abel did a great job above. I would attend with a goal of what you are trying to achieve, and a goal of where you think you can add value to the event. If you can achieve both it will be a successful day!
Vacation Rentals of Florida53 Reviews - 2ySarah KensingerPro MemberReal Estate Consultant · OH · Member since 2023 · 2k+ posts · 1k+ votes
I would just be myself and not worry about another thing!
- Investor · Raleigh, NC · Member since 2024 · 17 posts · 15 votes2y
It ended up being a pretty low key meeting. It was tough for us with two girls and the older running around. We did meet the head of the org and found out they meet regularly. It was more about how to make the neighborhood more artistic and such. Still we benefited from meeting our neighbors. Thanks all for the comments beforehand!
Best
Kyle
- 2yCollin HaysBusiness MemberProperty Manager · Gatlinburg, TN · Member since 2020 · 3k+ posts · 4k+ votes
I wouldn't invest in a vacation rental that wasn't strikingly unique. If you have competitors, you made a bad purchase.
A "get to know you" party is lots of fun, but I don't think such has any strategic importance to you. I couldn't care less about what other vacation rental owners are doing.
- Member since 2024 · 1k+ posts · 351 votes2y
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