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This past week, we saw the 10-year yield drop back down toward the bottom of its range since early this year (see graph below).  I have been keeping an eye on this to see which way it will break once things change.  For now, it appears that there is continued concern over a potential recession next year.

Hear Your Client

In business, I have seen two distinct approaches when working with clients (there are clearly others, but these are the two I see most often).

The first is where I see the salesperson pretty much just speaking at the client.  Often, they can be charismatic; and they seem to do okay as they are relentless.  They are more concerned with following their script, telling the prospect all about what and how they do what they do.  Meanwhile, the prospect is sitting there wondering why am I here.  The salesperson might stumble upon a need here and there; however, this is really painful for the prospect and does not respect their time.

For the record, I am not a fan of this approach at all.

The second approach is one where the salesperson creates an atmosphere for the prospect where the prospect can discuss their challenges.  It allows the prospect to vent areas of frustration prohibiting them from solving their issues.  It also allows the salesperson to take notes, figure out if they have a solution to the problem, and/or create value-added by referring the prospect to someone that can solve the problems.

Clearly, this approach makes the salesperson much more valuable to all.  It also separates them from their competition.  This week, I will be somewhat short with my note.  I suggest you look at what salespeople around you are doing.  Pay attention to what works and what seems to annoy others.  And, then adapt all of that to your own approach.

I appreciate those that can pay attention to the details surrounding them.  When dealing with prospects, business partners, relationships (both personal and professional), folks are telling us information all the time.  For those that can focus on the person in front of them, those people want to be heard and feel important.  The more you focus on them, the more I imagine you will create solutions that make what you do and how you do it integral to the success of others.

That’s it for this week.  As always, feel free to give me a call with any of your strategic financing needs.

Articles of Interest:

The SJ Mercury News shared “Bay Area powers to robust job gains in January, fueled by Santa Clara County hiring surge.”

The SJ Mercury News also shared “Office building added to emerging Silicon Valley transit village.”

See the table below for approximate interest rates.

Type Rate Fixed Term
Apartments 4.145% – 4.750% 3 to 10 year (30 yr amortization)
Commercial 4.455% – 5.050% 3 to 10 year (25 yr amortization)
SBA Lending Call for Options Call for Options