In the great movie Moneyball, Billy, played by Brad Pitt, says he wants to bring back an aging ballplayer by the name of David Justice. Everybody thinks it is a terrible idea to bring him back. He can’t hit home runs anymore. They ask Billy why he wants Justice back. Billy points to Pete, played by Jonah Hill. And Pete says, “because he gets on base.”
Now that philosophy, “because he gets on base,” takes that suffering ballclub to a new record of 20 consecutive wins, and nearly to the World Series. Pete knew that games are won by getting on base, not by showing home runs. Home runs are rare, and the ones that hit those home runs tend to have pretty low batting averages. The game is won on base hits. And syndication is exactly the same way.
Getting things done is getting on base. It’s not about just going for the Grand Slam or hoping for that home run. The home run hitters are swell, but it’s not how you’re going to be truly successful at the syndication game. The way to success is just getting on base every single time.
How do we get on base? Well, there are five things that we need to do in order to be successful.
Five Things to Get On Base
First, every day you need to be working on getting investors. This is critical; it will set you apart. If you have investors, you’re going to be able to do deals. If you don’t have investors, you’re just spinning your wheels. Spend 30 minutes to an hour, block out that time, get those investors.
Number two, you need to find opportunities. Properties are your product. Chances are you’ll have to dig for these to find them.
Number three, learn something every day. Take some time to learn something about the business. Get 1% better at your job every day.
Number four, use and operate with systems. I have checklists for nearly everything I do. I have checklists for these videos. I have checklists for how we got these videos in your hands. I have sheets that are outlined. Operate your syndication systems. Do the work.
Finally, five: leverage people and teams. This is a tough business to do totally alone. You’re going to need other people. Leverage those internal team members and external team members of yours. This is the whole idea behind fishermen that we talked about, using other people in order to get more investors. Make sure you’re paying it back as well.
As you continue to do work and find money for your investors, your investors are going to be part of your leverage as well, talking about what a great syndicator you are and how happy they are. We also talked about using the brokerage community and leveraging it, making it clear that you’re not in this just for a brokerage commission.
So the most important thing in syndication is the base hits, the daily work that gets done. It doesn’t need to be eight hours a day, but a little bit needs to be done every day, just to make sure you’re getting on base. First thing when you get up in the morning, ask yourself, “how am I going to get on base today?” And then, as you go to bed at night, say, “how did I get on base today?” This will propel you forward because it’s the incremental change that is going to make you truly successful in this business.