Perspective

The Handshake

• by Mike Tedesco
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In a relationship business, you must genuinely build the relationship to get the business. By Mike Tedesco When I was 12, my brother John got me an after-school job selling newspaper subscriptions. Armed with nothing but our wits (and free umbrellas if you signed up), we hustled door to door and quickly became the newspaper’s top salesmen. In those four years, many a door was slammed in my face, but I learned how to approach strangers. I became quite good at it. These skills would later help me tremendously as a young loan officer, and I quickly became a top producer. I continued to develop this craft even as I began my own company. The Value  of Personal Connections Over the last 13 years, I built Appraisal Nation from three men with two lenders into 120 employees with more than 1,300 lenders across America trusting us for their valuation needs. My entire growth strategy is focused on one core principal: This is a relationship business and to get the business, you must build the relationship. Getting from first encounter to client is a long process, but the first encounter is always the most important. In the modern age of technology, true personal connection is becoming rare. I built my sales model on a different philosophy than most. I believe that if we are going to have a relationship business, we must actually meet our prospects and build from the very first interaction: the handshake. For the last decade, I have reinvested a large percentage of our profits into face-to-face interactions by sponsoring and exhibiting at more than 50 lending conferences a year. In that time, I have personally attended more than 400 conferences and shook thousands of hands. You may think meeting someone would be easy: Shake a hand, say hello and ask for their business. But, the process is a lot more complicated than  it appears. The wrong  first impression could mean never having the opportunity to earn someone’s business.  There is a lot that goes into meeting a new prospect. Preparation is key. Before you shake a hand, you need to be prepared both physically and mentally. Hawaiian  Shirt or Tie? Being prepared physically sounds straightforward enough. You simply look and act professional. You should always know your venue, know the crowd that attends and know the location. If I’m attending a retail banking conference in the Northeast, I wear a three-piece suit, sharp tie, cufflinks, stay collars, the works. If I’m at a broker show in Orlando, maybe my attire will be matching polo and slacks with shined shoes and a coordinating belt. I went to Credit Union conference in Honolulu a couple of years ago. I’d never done this conference before and was a little concerned, so I called the event director who advised that most people would be in Hawaiian shirts and flip flops because they incorporate a vacation into the show. I followed his advice and fit right in. The vendors in suits looked out of place. When you’re unsure, simply ask the event organizers about the general attire. And when you are unsure, always err on the side of caution. You can always take the tie off. Another big part is grooming. Unfortunately, the number of people who come up to me smelling like last night’s outing is astonishing. A fresh haircut, good grooming (brushed teeth, clean nails, etc.) and properly pressed clothes will make you look and feel like you belong. Always carry mints or gum. You will be doing a lot of talking, and your breath will get stale. Remember, never turn down a mint. There is usually a reason it is being offered. When possible, get a good night’s sleep. An average conference day for me can be 16 hours or more. Know Your Company and Products Being physically ready is only one part of being prepared. You have to be mentally ready as well. You would be surprised by the number of people I’ve met who have no place being where they are, whether in their position or at the conference. They are not equipped to answer questions, and they make their company look like a late-night basement startup that hired them from an online questionnaire. Know your company and products intimately and have value to offer. If you do not have all three of these, do not attempt to sell your product. Once you have mastered your company and believe in it, you should be confident enough to go to a conference. Confidence is key. If you don’t believe in your product, or do not want to be at the conference, or don’t like talking to strangers, it will show. Remember, you are the face of your company when you are traveling. What you do is a direct reflection of your company. This includes your appearance and behavior at airports, dinners and even clubs. Make a fool of yourself drinking too much and people will think your company is not responsible. If you look disheveled, unprofessional or ill-informed, a prospect will think your company is as well. Care about yourself and your company so you and the company are seen as a positive example. Finding Your Target The next lesson is to always have a target. Before I ever go to a conference, I look over the attendee list and send our present clients short emails asking to meet up for a 15-minute check in. I then send emails to the top 10 lenders I want to do business with. These may not be the largest, but they are the 10 that I know that we will align well with. I usually get three or four responses. Two will immediately say they’re “not interested.” That’s not a problem. I will follow up with them at the show because what they just did was start a dialogue, and I like dialogue! Another might say, “Please speak to so and so,” and I will. Then another will say, “I