The Holy Grail of Business Success
is a highly sought after expert in crowdfunding, helping real estate professionals finance their projects without having to spend all their time searching for investors. Learn more about how he does that in his personal biography, here.
He has more than 30 years and $1.5 billion of transactional experience in commercial real estate finance and investment and is actively preparing to buy distressed real estate and non performing loans both a type of real estate in which he has considerable experience.
Adam has held senior management positions at some of the largest companies and institutions in the hermes mens duffle replica
world, including running real estate for Universal Studios and Paramount Studios (Asia Pacific), heading the distressed real estate group at a major California bank ($1 billion portfolio), running real estate workouts and sales at Colony Capital ($6 billion portfolio), and others.
When the JOBS Act of 2012 was passed, Adam realized that commercial real estate finance would be transformed by the new regulations by permitting equity to be raised online. Seeing that this would revolutionize the industry, he formed GowerCrowd, an agency geared to assisting real estate developers raise money online by crowdfunding and to educating investors on what to look for.
His goal is to liberate real estate entrepreneurs from the shackles of in person equity raising by automating the process for them so they are free to buy the deals they want, grow their portfolios, and provide passive income for themselves and their investors while building long term wealth.
Adam has published multiple books, including Leaders of the Crowd
(Palgrave Macmillan: New York, 2018), which examines how the origins of crowdfunding and how real estate has come to dominate the industry; Real Estate Crowdfunding: An Insider’s Guide to Investing Online (Routledge: New York, 2020), which gives investors the inside scoop on what to look for when investing in crowdfunded deals; and his latest book, SYNDICATE, a practical guide on how to raise money online.
He is host of The Real Estate Crowdfunding Show, Syndication in the Digital Age podcast and writes extensively on real estate crowdfunding best practices. He provides educational training on Real Estate Syndication in the Digital Age on the Springer network, the 150 year old edge of information for people on the frontier of research, as well as having taught the only fully accredited university course in the country that focuses on how to successfully invest in crowdfunded real estate syndications.
As most builders will tell you, the foundation of a project is its most important component. The foundation, both in physical construction and everything else you do, is the base upon which all else will be built. Without a solid foundation, a building will begin to sink, floors will begin to crack, and you inevitably run into myriad different problems. But with a solid foundation, on the other hand, you will be able to build upon your initial efforts for many years to come.
While this “foundation” metaphor is one that may seem to be a bit clich, it is still one that is especially relatable for developers (just ask anyone who has ever bought a property with foundational issues) and, furthermore, it is one that is almost universally applicable. So what, exactly, is the foundation of a long term marketing campaign?
Naturally, there will be many things that a well run campaign must have. But without a reliable customer relationship management (CRM) infrastructure in place, there will be very little for a campaign to built upon.
This has especially proven itself to be true in the age of COVID 19, where many interactions with prospective buyers that would have once taken place in person are now being shifted to the digital world.
CRM consists of many moving pieces, including keep track of your contacts, monitoring the actions your contacts are taking (such as engaging or clicking on specific pieces of content), and developing effective communication strategies. If a firm only has a small handful of current or potential customers, developing a successful CRM strategy will be relatively easy. But as the scale and the depth of their business grows over time, the need for a more complex approach to CRM will soon become apparent.
Relationships: the foundation of doing business
Perhaps the reason why CRM is so important is that it enables firms to transform their current list of customers something that, without action, does not yet have any material value into actual, measurable results.
Suppose that you are currently running a real estate syndicate that seeks to raise funds via crowdfunding or other related efforts. Within your current arsenal, you likely have a list of known investors, possible investors, and people that could be directed to become investors, with the proper guidance. Each of these relationships and yes, they should all be considered relationships could eventually be fruitful. But the fruit will only come to bear if the relationships are properly managed and cared for.
In the crowdfunding space and most other commercial spaces, it is always crucial to remember that these prospects do, in fact, have multiple readily available alternatives. It is not enough for someone to be interested in commercial real estate in general, or to even be interested in a specific project you have proposed. If your business fails to effectively communicate with these prospects and direct them to some sort of tangible action, their interest will inevitably begin to wane and, eventually, be directed elsewhere.
If you have a list of 10,000 possible investors something that is not uncommon for larger syndicates finding methods for effectively and efficiently communicating with these investors will certainly pose a daunting challenge.
Your communication process can begin with sending out a mass e mail, perhaps, but when 1,000 of these investors indicate some sort of peripheral interest, where do you go from there? Is your firm prepared to engage in 1,000 potential interactions manually?
In some cases, person to person interactions will be needed, and this is especially true as the firm inches closer to finalizing a deal. But many of these interactions can be effectively automated. The advancement of artificial intelligence and continued refinement of automatic e mailing have both made it much more possible for firms to engage with their prospective customers on a meaningful level. And again, this has proven itself to be especially vital in the increasingly digitized age of COVID 19.
Not all firms will be able to generate commitments from investors without any “real” communications, but in real estate crowdfunding, doing so has increasingly become a more viable possibility.
In many ways, CRM will not only lay forth the foundation upon which a project can build, but it will also be one of the most valuable resources available for expanding and building towards something greater.