When you want to make it big in show business, the old saying goes, “If you can make it in New York, you can make it anywhere.”
Lance Osborne takes a similar approach to succeeding in the business world, though he’s not headed to the Big Apple anytime soon.
“I think if we can get through this [economic downturn], we can probably get through anything,” says Osborne, president of Osborne Capital Group LLC. “That’s the attitude you have to take. You have to keep a positive attitude and instill that in your employees. You can’t let them dwell on the negative and you can’t dwell on the negative things that are going on.”
A positive attitude wasn’t the only thing that built the real estate investment firm’s recent retail construction project in Highland Heights, but it sure played a major role in lining up tenants during a time when no one wanted to spend money.
“You have to understand the times you’re in,” Osborne says. “There’s not a lot of clarity out there these days, so it’s hard for people to make a decision. You have to respect the process and provide them the information they need. Respect and understand where they are coming from so they can sort everything out the way they want it sorted out.”
The project, known as The Shoppes at Alpha Place, is a 110,000-square-foot shopping center that is a mix of restaurants, a bank and a retailer. Osborne’s dozen-employee, privately owned firm was looking to sell space in the plaza last fall when the stock market was dropping by triple digits virtually every day.
“We had to push through the hardest time to lease up the balance of the space from October to December, when no one would return your calls,” Osborne says. “There were some sleepless nights when you drive by and you scratch your head and think, ‘How are we going to get through this?’”
You start by doing whatever you can to meet with the people you want to sell to in person.
“It’s always better to meet them in person and show them what it is you are talking about,” Osborne says.
Even if you can’t meet in person, it’s critical that you show your potential customer a level of respect and understanding of the times.
“In a better environment, you can kind of push them along, but in this environment, you kind of drag them along,” Osborne says. “But you can’t drag them too fast. You respect the speed they are going at and you just work them through the process. If you do that, you’ll build a relationship.”
And relationships are how deals get done.
“Execution builds relationships,” Osborne says. “Our execution to get things done builds relationships on the other side of the deal. In this business, that’s what it really comes down to. It’s executing and leveraging those relationships for the next project and the next project.
“We had a lot of people that said, ‘Don’t even bother calling me, I won’t call you back. If you have formed a relationship, they’ll at least let you present your case.”
Relationships with your employees are also important to getting through tough times. You need to spend time nurturing those relationships so you know where they would be the best fit and get them in place.
“You have to find out what your people like to do and are good at and let them do it,” Osborne says. “That’s where they will have a passion to get things done. Put them in the place they want to be and don’t force them into the corner doing what they don’t want to do. Let them do what they are good at and stay out of the way.”
How to reach: Osborne Capital Group LLC, (440) 951-4470
Look to the future
Lance Osborne always has his eye on the future as the president at Osborne Capital Group LLC. It helps his employees at least feel a little bit better that the tough times will not last forever.
“It’s easier to stay positive if you’re not absolutely concentrating on the here and now,” Osborne says. “If you keep everything in perspective and keep going in the path you want to go, you can muscle through those days. Those days where you got turned down 20 times, if you keep your eyes on the horizon, it helps you get through it.”
Unfortunately for those looking for a break, tough economic times usually result in harder work. But there is almost always a payoff.
“I see a lot of people now that don’t work as hard as they used to because they just get caught up in the negativity,” Osborne says. “You just have to keep pushing and put in the hours. Sometimes, it’s like pushing a rope or ice-skating uphill, but if you keep going, you can be successful.”