Look for the Next Problem to Solve, Not Which Product to Sell

Scenario: Owner-occupied commercial real estate refinance from a high-interest rate bridge loan to long-term permanent loan.

Problem: Bank is ready to approve the loan but discover he explored cannabis edibles as an add-on to his existing wholesale food processing business.

License never issued, but edibles website still up (to raise money) showing the address of owner-occupied property.

Bank underwriter catches it, expresses concern over legality of business, and wants to decline the loan after two months of underwriting.

Solution:

1. Get CEO on the phone with lender to offer details that the edibles business is not operating.
2. While on phone:
   1. Pull up State and County Cannabis Regulations
      1. Scan 216 pages of regulations to find regulations to prove borrower is telling the truth and are complying.
   2. Open Contacts and email County Chief of Health Department (existing relationship)
      1. Chief calls and emails to verify I am correct.
3. Email regulation details and the details from Chief of Health Department to lender.

Disaster averted. Client is ecstatic.

Look for the next problem to solve, not which product to sell and your clients will come back time and again.

Got a story to share where you saved the day by being a problem solver? Drop it in the comments!