Why Certain Experiences Have Extraordinary Impact
It’s June so that can only mean one thing at DTSpade: Summer Book Club! Each summer we read a book (or two in this case) that relates to one of our company’s Core Values. The main value that we’ll be focusing on this summer is (I + MY NEIGHBOR) / LOVE because, as briefly mentioned, we have split into two groups to read two different books and teach each other what we’ve learned. We’ll also be keeping our core values in mind for each individual chapter. Each Tuesday for 12 weeks we’ll get together, share our notes and post them here for you to follow along.
Check out our other Summer Book Club option – Captivate: The Science of Succeeding with People, a book on cultivating relationships.
So let’s jump right in with…
Chapter 1 – Defining Moments
- Defining moments shape our lives and most happen by accident or luck, but can they be manufactured?
- Peak-end rule: people remember highlights and endings.
- Moments are made of one or more of four elements:
- Elevation – defining moments are a bit more special than what came right before or right after. Upgrade sensory appeal and add an element of surprise (if appropriate). Transcend.
- Insight – if an experience can cause you to learn something new about yourself or the world surrounding. Realize.
- Pride – appeals to someone’s “best self.” Uplift.
- Connection – defining moments are social moments. Share.
You don’t need all four to create a memorable moment, but you do need at least one.
Chapter 2 – Thinking in Moments
- We must learn to think in moments, to spot occasions that are worthy of investment. Three that deserve attention:
- Transitions are natural defining moments; Bar Mitzvah, Marriage, New Job, Parenting
- New job incorporates three at once: intellectual(new work), social(new people), and environment(new place). First Day experience.
- Transition that lacks a moment – Reverse Wedding.
- Fresh Start – create a defining moment between Old You and New You.
- Milestones are landmark dates; certain birthdays, anniversaries, $1,000,000 Club. Some companies are creating them…
- Can we create some at DTSpade? 10th deal closed? 100,000sf leased?
- Pits are negative defining moments.. hardship or pain or anxiety. Pits need to be filled. Almost 25% of positive encounters were employee responses to service failures.
- Doug Dietz – MRI machine – the experience needed work.
- Transitions should be marked, milestones commemorated and pits filled. That’s thinking in moments. Not all fit these categories, some are random. What can we create here?
Chapter 3 – Build Peaks
Elevation: Defining moments rise above the everyday + Insight: rewires our understanding of ourselves or the world + Pride capture us at our best- moments of achievement, moments of courage, AND/OR Connection: are social – like wedding, baptisms, vacations, etc.
TO ELEVATE A MOMENT:
- Boost sensory appeal. Turn up the volume. Make things look better or taste better.
- Raise the stakes. pressure or stress with peer involvement, competition
- Break the script
Q: What would make someone pull out their camera for this?
Q: What does reasonable look like?
Check back on June 26 for the next installment.
You may be asking yourself: “What exactly IS a tenant rep?”
Short answer: A commercial real estate broker (i.e. A DTSpade Agent) who fights for your best interests when it comes to the lease on your office space. Now let’s get into those reasons why…
PREPAID SERVICE COST
Our service fees are baked into your lease – meaning no upfront cost. The benefits you gain by hiring a tenant rep can be directly linked to the thousands of dollars you’ll save. If you’re not using us, you’re not accessing a feature of your tenancy that you’re already paying for.
NEGOTIATION IS OUR FORTE
Rent concessions, Tenant Improvement, Lease Term – all important parts of your leasing decision, but do you know what to ask for? Probably not, but that’s not your job! This is the part where we really get to put our knowledge and experience to the test.
WE’RE MARKET EXPERTS
You’re busy putting out fires, rescuing kittens from trees and curing cancer, how in the world will you have time to know where the hottest submarket is or what the going rental rate per square foot is? It’s our duty to stay on top of commercial real estate trends and availabilities. Which leads me to…
PROPERTY AVAILABILITIES YOU MAY NOT KNOW ABOUT
Sure you could try Googling “office space for lease” or search through the catacomb that is Craigslist, but you’re not going to find much and what you do find is going to leave a leave you with a lot of unanswered questions. With DTSpade on your side you will have access to a veritable smorgasbord of office space options through our national listing database.
EASE OF MIND
Lastly, you will get to spend more time doing what you do best while we iron out all of the fine details of your lease (or purchase). Would you rather be helping your clients/patients or reading the fine print on an 87 page document that is outside your realm of expertise?
Send us a note to find out how DTSpade can save you precious time and money when it comes to your lease (or purchase) negotiation.
Part 1: Why would anyone want five dental practices?
November 2016 – Q & A with Pete Newcomb
Is dentistry an art, science or business? At DTSpade, we’d argue that it is all three.
But every Client decides how much time they can allocate to each. Do you invest in getting better at your craft? Do you invest in the newest equipment or staff training? Do you invest in improving operations, speeding collections or negotiating with insurance?
At best, a single physician can do one or two well. Larger practices can invest in talent to delegate, but that brings another set of challenges. Single physician practices that maintain high standards of customer care are not at any more of a disadvantage than multiple practice operations that sacrifice personal attention.
What is the proper response to life-long lagniappe?
I’ve got family on my side and my wife’s side in rural America. When I tell them that my main business is representing healthcare organizations and governments in real estate lease negotiations, I can tell what they’re thinking: You really get paid for that?
We take it for granted, but commercial real estate brokerage is a great business. It isn’t very capital intensive. There’s rarely pressure on commissions, everyone (usually) understands the model and it is (almost) infinitely scalable.
As an SIOR, a leader in the market, and business owner, what is the proper response to that? One option is to be thankful to live in a time and place where this business is possible. Another is to milk all you can out of a good situation. A third is to look for opportunities to share some good fortune through charitable giving.
I’d like to propose a few other options that perhaps hadn’t occurred to you—at least initially. I’d like to propose using our gifts within the community, within our organizations and within our households.
Georgia gains on shifts in physician employment models
- Inelasticity in demand, an aging population and changes in healthcare policy have led to steady and continued growth in healthcare employment—outpacing total non-farm job numbers and wage growth through 2024 for most industries.
- Georgia will be an acute winner due to availability of workforce and a growing population.
- Physician demand is strong, but lack of supply will require technology implementation and improved employment models.
- This will increase the need for physician assistants or nurse practitioners to fill the gap.
Capital seeking healthcare consolidation provides physicians security of employment, if they want it.
- Factors to watch carefully are:
1. Lifting of uncertainty within the market,
2. Flow of capital toward and away from healthcare consolidation,
3. Technologies that remove the complication from medical billing,
4. Compression of physician pay and/or improving hospital profitability.