The Thank You Economy

TYE is is short for The Thank You Economy by Gary Vay-ne-chuk; I started reading it right after it’s early morning release today. I have made it through the preface and the first chapter and would highly recommend picking it up or downloading it.

No – That’s Our Policy

Gary starts the book by telling a story about a guy who comes into his father’s wine store to redeem a coupon after the fact. The manager in the story quotes a strict interpretation of the coupon policy and sends the guy away empty handed. Gary recalls feeling, in his gut, that the guy was never going to come back to the store and let’s the manager know as much. He goes on to suggest that his gut was wrong about the guy returning but right about another thing.

Apartment Company Policy

The topic has been written about over and over, many times in our business we push our prospects and residents away over policy and procedure. I don’t have enough fingers and toes [even if I count my Facebook acquaintances] to count the number of times I have witnessed it over the past fifteen or so years I have been in the business. I can’t honor that, I can’t waive this, I can’t waive that. I know it’s your first month being late after twenty-three years of living here but late is late is late [Read with a good cheer in your voice]. The really good ones displace it on corporate; it’s a corporate thing! I wish I could help but corporate won’t let us do that.

Apartment Company Policy of tomorrow [Read: Today]

Understanding that Fair Housing plays a necessary and important role in our industry; the world of business has changed. Getting back to Gary’s Gut; the guy returned to the store to let them know he would never buy another thing from them – ever! We know the rest of the story [pre-social media and smart phones]; the man likely told ten of his best friends about his experience. And, so on and so forth.

Business has changed and we not only have to adapt but rather stay ahead of the competition and the human beings we do business with. One of the ways I try and stay ahead is reading books of all kinds and participating in our industries social spaces. And, believe me; I learn something everyday. The preface of Gary’s book reminded me of how being rigid and using strict interpretation turns customers away and unlike the guy in the story, many never return. And, today they pull out the social media bullets to get you back. Trust me, many of us, sad to say, deserve it…

I can’t wait to read the rest of the book and share some more thoughts. In the mean time; what have you learned in the short year of 11′ that speaks to the point of rigid policy and or procedure that turn customers away?