Tag : politics

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158: How Auctioneers Can Be Like Presidential Candidates

This presidential election season has been the most annoying and befuddling of the six for which I’ve been eligible to vote. This is the third one with Facebook, Twitter, and YouTube; so, it’s more than social media stoking the fire.

The candidates have changed their opinions and platforms over their careers enough that Stephen Colbert could even use one candidate’s footage to debate himself. Others have assembled similar video presentations for other candidates, as well.

For two hundred years, American politicians have told one audience what they wanted to hear and another audience something else. Because all of us voters vote for our interests or our perspective of the interest of others, it makes sense that politicians play the chameleon game.

The problem now is how easily that deceptive pandering is captured and how easy it is to search for those captured moments. You’d think it’d behoove a candidate to be authentic and consistently honest, but politicians know that all Americans think most politicians lie for political expediency. They also know that if they uphold enough of their party’s platform, the zealots will look past their foibles.

Similarly, many auctioneers often play two crowds with different messages. Amazingly, they rarely get caught. At the same time, the industry as a whole scratches their head as to why the profession comes with a bit of a stigma in the marketplace.

Conflicting MessagesOn one hand, we market auctions to buyers as a place to get good deals (especially at absolute auctions). One auction industry blogger recently candidly admitted that he’d wait for an auction instead of buying an asset for a fixed price, if he had the time to chase the potential discount.

On the other hand, we tell sellers that only auctions will achieve the highest market value. I’ve had to copy and paste that into more proposals than I care to count—including proposals for absolute auctions.

“Well, a talented auctioneer working the frenzy of competitive bidding can get a crowd of people, who registered to bid thinking they’re going to get a deal, to pay more than retail for something.”

That’s true. I’ve witnessed that in person, especially with guns, sporting goods, cars, and collectibles.

What happens when there aren’t enough bidders or the right bidders to get that frenzy started, though? I’ve seen that happen, too: assets selling for pennies on the dollar.

Don’t get me wrong. A number of auctioneers consistently do better than the market with their sales. I’d hire them, if I had to unload the type of assets they sell.

That said, you and I both know that a lot of auctions are contracted not for superlative financial gain as much as an expedited end to a headache, a triage for the bleeding, or quick cash to allocate to another opportunity.

We can sell “high risk, high reward” with integrity. We can sell the time value of money with honor. We can sell superlative results with statistical evidence of our prowess.

But let’s stop selling one thing to our sellers and another thing to our buyers.

Stock image purchased from iStockPhoto.com.

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154: Are You Throwing Away Income on Facebook?

Football Player Lego MinifigureIn the National Football League, commentators use a term to describe why players don’t make specific plays that would significantly increase their risk of injury. The announcers usually say it with a bit of smirk in their voice.

“He made a business decision.”

The player in question could have attempted a tackle or dove for a first down, but the long-term ability to make plays wasn’t worth the short-term opportunity of a single play. I’ve rarely heard a football player criticized for making that split-second decision. In fact, usually quarterbacks are criticized for getting hurt because they didn’t process this kind of situation quickly and wisely.

During this heated political season and the social unrest of the past few years, auctioneers and entrepreneurs have been inadvertently making business decisions. They’ve taken risky shots on social media. They’ve not processed the long-term ramifications of short-term humor and rhetoric. They’ve invested their personal brand into memes and rants and extra exclamation marks.

Political Teams

Whether we root for team donkey, team elephant, team buffalo, team porcupine, or none of the above, a short scroll through our social connections will tell us that we aren’t all on the same team. That’s actually a good thing. At least it can be. Diversity of opinions widens culture’s horizons and sometimes even leads to idealogical dialogue. Well, it theoretically has the potential for that.

Those conversations have merit in proper forums, most of which are offline. In contrast, social media tends to oversimplify nuanced topics and polarize communities through antagonism. The stock photos are either grandiose or intentionally crass. Often, the statistics are fictional or out of context. Rarely do we check multiple sources to verify a post before it’s shared, liked, or referenced.

The risks for this kind of engagement looms larger than potential egg on the face or estrangement from social connections. As small business owners or sales reps, we can actually reduce future income. See, potential clients—including auction sellers—are going to type a vendor’s name into the Facebook search bar. Unless we’re very careful with your privacy settings, they’re going to see our posts. Those playing on different political teams or even just different sides of a specific issue will now mark a mental strike against us. The opposing position might even unconsciously predispose them to disagree with our business suggestions. It’s a risk that rises proportional to the level of acidity or distastefulness they find.

This doesn’t mean that we abandon unpopular opinions or that we avoid sharing them. It just means that we express them differently. Proselytizing or personal growth is more likely within the contexts of face-to-face conversations, book club discussions, thoughtful letters, careful essays, well-researched & sourced infographics, etc. Raise a hand if a Facebook, Twitter, or Instagram post has ever changed your political stance on anything. If they’ve never worked on us, what hubris or ignorance does it take to assume they’ll sway others?

For each of us, some issues might be worth losing business to defend. How and when we defend them, though, can determine the amount of personal credence and professional respect we lose in the process. It is possible to respectfully disagree.

Multiple writers have attributed a quote to Michael Jordan that he actually didn’t say, but the invented statement holds a lot of merit. The global sports icon has (after retirement) endorsed and financially supported Democratic Party candidates including President Barrack Obama. Initially, though, he chose brand building over political involvement. The reason was summarized in this famous fictional line:

“Republicans buy sneakers, too.”

Stock image purchased from iStockPhoto.com.

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