Value Destruction Through Social Media - Drop It - Investor Advice
Value Destruction Through Social Media - Drop It - Investor Advice
In this Newsletter we will take a look at how destruction of business and property investing social media can be, and also look at the internet and how that’s transformed property investment.
Social Media and Society’s Destruction – that’s sites like Snap-Chat, Facebook, Twitter and Instagram have become very popular in the last 10-15 years, particularly with the so called Millennium Generation (or Millennials) people born around the year 2000. Our theory is that this type of computing has been highly destructive to business and will directly impact your property investment returns.
Firstly, we think social media is so destructive for the following reasons:
Bullying: It psychologically puts people on edge and is the focus for bullying and abuse. Years ago, when you went to school – five days a week for around half the year – for 9 hours a day – some unfortunate people were bulled – then they left school and it normally stopped. Now when kids are at school, they can be bullied online all day 365 days a year – on tenterhooks about the next abusive message that will be sent by the master online bully. Its terrible distracting, upsetting and you can’t get away from it – we feel for these poor young people. Then they go to work – and the same happens – people pushing them around and being offensive or abusive online. The school style bullying can continues through their whole lives. Its massively disturbing. At any juncture they can be humiliated in front of so many people they don’t even know – out there in the online world. Anyone can be bullies – whether it be film stars, children, business leaders, the average joe – about anything – by being part of this massive social media world, you open yourself up for exclusion from groups, abuse, bullying and negative people.
Obsessive – Addiction: People in their twenties these days find it extremely difficult to put their “phones” down. Their “phone” have become their computers to the world of friendship groups and it sucks them in – because they often think if they are not part of this world they will be excluded. But in fact what they are doing is opening themselves up to be excluded from different groups - in the desperation to be part of someone out there.
Internet Good: The destruction by social media is in shar contract to the positive impact of the Internet on property investment. Documentation and reporting has become far more efficient using email and the internet – with access to some super databases, very good file referencing, working towards a lower cost paperless office environment.
Excellent Tool: Furthermore – the are some outstanding websites that really help the property investor in some powerful ways – we will give you some examples:
• GoogleEarth and StreetView give property investors some excellent ways of checking out properties, both their own or ones that may be acquired – and general neighbourhoods without expensive screening site visits. It speeds up planning applications and the preparation of drawings by being able to reference properties.
• 3D View is GoogleEarth can be used for “fly-by” visualization of neighbourhoods including proximity to shops, stations and amenities
• The government’s Planning Portal gives access to land registry, maps, planning documentation in a transparent manner – and allows fast online application and payment for planning permissions.
• Websites like Rightmove allow users instant access to a huge array of properties that can be purchases or rents – making benchmarking and selection so much easier than 20 years ago.
• Crime statistics and socio-economic data is available for neighbourhoods that allows investors to access if an area is on an improving trend or worsening trend.
• Environmental websites give access to flood information to make sure an area is not flood prone before an offer is made to purchase a property – or an planning application is made. Flood risk assessment statements can be prepared by someone who is not very experienced on flooding by using such databases and reference, without the need for expensive flood assessment surveys.
• TripAdvisor and School rating sites can be used to assess whether local restaurants are good or not – that could have an impact on property investment decisions
Good Technology: The key point is that technology can be enhanced as a prospecting tool for property investors to help improve returns and create lucrative opportunities, but the counter-point to this is the value destruction from the idle use of social media including endless interruptions and stress this creates along with the huge time (and hence value) lost because of these outlets.
Drop The Facebook Groups: Younger people in particularly – who use social media a lot – need to ask themselves whether it is worth it or not. Do you need to feel included in these Facebook groups or would it not better to have some more serious face-to-face and a lot fewer relationships with some key people in your life.
Messaging Buzz: Another question you should ask yourself is – would it be better or not to have no buzzing phone with messages ringing in, constant distractions from messaging devices like SnapChat and Integram. Would your stress levels drop – would you become more productive?
Allocate Love Points: An interest exercise – we’ve mentioned this one before – is to have a total 100 points, then give them out proportional to how much you would actually miss someone – or love someone. You’ll probably find very immediate family and friends get almost all the 100 points – and that all those hardly known people on Facebook and Instagram groups would get none. If this is the case – then why do you spend so much time with them? Why do you worry about what they think? Why not just “detach” and focus on key relationships only. Is it low self esteem that is holding you back from doing this? And/or a feeling of always needing to be noticed? Or do you look into everyone else’s world – with a form of “I want to compare myself” or “I want to judge other people against myself” or “I want to see whether I am envious or jealous or prove that I am doing better than them?”. Ar you just being nosey – does it add any value or does it make you happy or miserable. Do you really care about what all those distant people – some friends some not – are doing with their lives? Isn’t it about time you left them behind?
Okay – we all need friends and a bit of a network – but the point is – ask yourself how much time it takes, is it stressful, can you reduce it dramatically then find peace in yourself and focus your efforts on building a profitable property business. After all, if you a little short on self-esteem, just about the best think to do to remediate this is to eventually live in a beautiful big house and be fabulously wealthy and financially free. Its about focus, discipline and not wasting time on things like social media.
We hope this Newsletter has help provide some context for UK property investors - if you have any queries, please contact us on firstname.lastname@example.org