Memorial Day Quote

The 4 Mindsets of Your Prospects

And why you must address them in the first 15 seconds...

You don’t prospect enough. Maybe you are new to the business and fear holds you back. Maybe you are like me, and the fear of looking stupid holds you back. Regardless, you should be picking up the phone more. With our coaching clients at the Massimo Group, systematic prospect is one of the pillars of the Massimo Methods.

The 4 Mindsets

I’ve shared this before, but when I left the Marine Corps in 2004 to work with my dad in commercial real estate, I was paralyzed when it came to prospecting. I would sit at my desk and stare at the phone. I had no clue what to say. I had no idea of the directions a prospecting conversation could take.

I couldn’t bear the idea that I would look stupid and fall on my face. What I lacked was confidence.

I was recently in Phoenix at a mastermind. I heard a man say that “Action unlocks greatness. Simplicity unlocks action.” That got me thinking. If we can understand the mindset of our prospects when we call, then we have the opportunity to address those mindsets quickly. Then we can prospect with more confidence.

Any of us in sales of any kind can prospect with more confidence by understanding these 4 mindsets of our prospects.

The 4 Mindsets of Our Prospects

  1. Your prospects are busy – Most people are these days. When you are able to connect with your prospect on the phone, you need to recognize that they have many things on their mind.
  2. You are interrupting them – One moment, your prospects were working away. Now they are speaking with you. You have changed their direction. Because they are busy and you have interrupted them, it is in your best interest to honor their time and get right to the point.
  3. They are wondering who the heck you are – Sometimes you are prospecting on someone you know. Often times, you are not. Given that you don’t know who you are calling, I promise the first question they have about you is who you are and what company you are with. You have to answer this unspoken question immediately.
  4. They want to know what’s in it for them – As they are busy, have just been interrupted, and you’ve just shared with them who you are, you must quickly tell them what they will benefit by having a conversation with you. Many CRE brokers make the mistake of vomiting their services all over their prospects. Do not. They do not care about what you can do. They only care about how your services can benefit them. Always speak in benefits statements with short deal stories to substantiate your claims.

Knowing these mindsets is one thing. Being able to use them to your advantage on a prospecting call is another.

That is why I want to invite you to a webinar I am presenting on Wednesday, June 1 at 2:00pm EST – How to Nail the Most Important Part of a Prospecting Call. You can register by clicking the button below.

In this webinar, we’ll dive deeper into the mindsets of your prospects and discuss how use them to your advantage. We are also going to dive into:

  • 4 Mental Triggers that can move the prospect your way
  • 4 things to absolutely NOT do on a prospecting call
  • How to craft the beginning of a prospecting call to engage your prospect, move them your direction, and earn the rest of the call.
  • …and ultimately prospect with more confidence!

Grab My Seat Now

Question: What questions about prospecting by phone would you like me to address on the webinar? You can leave a comment by clicking here.

 

The 5 Requirements to Achieve Growth

Break through your plateau and achieve

This blog is about achieving on purpose. I assume that if you are reading this, you want to achieve more than you have to this point. Reaching new heights – taking your business to a place it has yet to go – requires one thing. Change.

The 5 Requirements For

 

I was in Phoenix and called home to talk to the family. When my wife answered the phone, she said, “Your son wants to talk to you.” My automatic thought was, “Uh oh.”

My 13-year-old got on the phone and told me he doesn’t want to play baseball anymore. He wants to focus on basketball. I was initially disappointed because the kid can play some baseball. His love is for basketball, however. And he is already pretty good.

When I got home, we met in my home office. If he was going to focus on basketball, let’s make a plan so he can achieve his goals.

The problem was he didn’t have any goals. So these are the three goals he came up with:will playing defense

  1. Start varsity as a freshman
  2. Be the best ball-handler in the state as a senior
  3. Earn a Division I scholarship

If he is going to accomplish those goals, he has to change. He has to change his habits. He has to change how he spends his time. He has to change how he works and practices.

So for the last couple of months, he is going with me to the gym in the morning before school 2-3 times a week. We get up at 5:20 and spend one hour working on ball handling and shooting drills.

Just like my son, if you want to achieve growth in your business or life, you are going to have to change to make that happen.

You can achieve that growth if you understand these 5 requirements of change.

  1. Change requires pain – Growth is not for sissies. It hurts. You have to do things differently. Learning to change your thinking takes work and mental energy. Building muscles means tearing them down and building them back up. I love the Marine quote – “Pain is weakness leaving the body.” That is true of your business as well.
  2. Change requires new habits – You want new and better results? You have to change your habits. You might want to construct a morning routine that sets up your day for success. You might need to improve your time management system to get more done in less time. You might need to get healthy to have the energy to give your best all day long. All of this requires pain and new habits.
  3. Change requires a plan – My son committed to one hour of practice a day to achieve his goals. He doesn’t just have goals. He has a tactical, daily plan that will get him there. You need the same. Can you break your goals down to a daily plan that will lead to success?
  4. Change requires accountability – My son has me. I wake him up to hit the gym before school. I ask him if he’s done his hour of drills that day. Who have you shared your goals and plans with? Who is asking you the hard questions and keeping you accountable? Who is your coach?
  5. Change requires connecting with your why – Why are you doing all of this? Why do you want to achieve more or grow your business? Your why is never the money, by the way. Your why is the deeper purpose of what you can do or be if you achieve. You will hit a plateau or just feel tired of the work involved to change. When you do, connecting with your why is what will allow you to push through and keep growing.

If you want to grow your company then you need to become more valuable. This requires change. I challenge you to define your goals, create your plan, and commit to the change necessary to achieve – on purpose.

Your Next Step:  We’ve created a free report at the Massimo Group for the 7 Success Secrets of Market Leaders. One key of achieving success is becoming a student of what is working for others. If you want to see what the most successful brokers in CRE are doing, then click the button below. You can leave a comment by clicking here.

Download FREE Report: 7 Success Secrets of Market Leaders

3 Reasons You Need a Robot

Stop doing what you hate and maximize your time

There are certain things I don’t like to do. In fact, if there are minute details involved, I’m probably not very happy.

My wife doesn’t like to vacuum. I’m not sure I know anyone who does. But she likes clean floors. The reality is, she can do much more important things that vacuum our floors.

So for Mother’s Day this year, the kids and I pooled our resources and bought my wife a Roomba. If you aren’t familiar, it is a robot vacuum cleaner. And it is awesome. Remember that big hockey puck on wheels in Breaking Bad – that’s it.

Today, my wife spent the morning volunteering at our children’s school. That is a much more valuable use of her time. And while she was there, our robot vacuum was cleaning our floors. She made a great choice in how she spent her time. She didn’t do a task she didn’t like. And the floors a clean.

You need a robot.

In fact, every person should buy a robot for these 3 reasons.

  1. You have regular tasks you don’t like – This is a quality of life issue. What are the things you just don’t like to do. Make a list. Now which ones of those are recurring? These are candidates for automation. What kind of robot can handle these for you? Maybe it is rules you can set up in your inbox. Maybe you need a virtual assistant. Maybe you need to use the staff in your office better. But if it is repeatable, you can train someone else to do it.
  2. You have better things to do with your time – This is an efficiency issue. Most of you reading this blog likely have an income goal for the year. To hit that goal, you need to make a certain amount an hour. Do you know what that number is? When you spend your limited time on tasks that aren’t worth that number, you are falling behind your pace. You have to know what your time is worth and make decisions accordingly.
  3. Tasks still need to get done – This is just reality. Just because you don’t like it or it isn’t the best use of your time – that doesn’t mean that you can ignore it. I’ve tried. But you don’t have to be the one to do it. Build a system that can handle it.

You need a robot. Your robot could take many forms. It might be an assistant or a virtual assistant. It could just be creating a system for your team to follow. Maybe it is as simple as batching your tasks to maximize your productivity.

Question: What one thing can you identify this week that needs to get done, is a poor use of your time, and that you do not like to do? Now go get you a robot! You can leave a comment by clicking here.

Why Looking Back is a Great Way to Move Forward

Last week, I got contacts for the first time. I tried some samples a number of months back, but I finally decided to ditch the glasses.

The contacts were great, but getting them out that night was brutal. After 3 separate attempts and 15 minutes, I gave up and enlisted the help of my wife. With her fingers in my eyes, we got the terrible plastic out.

Photo credit: PeterThoeny via Visual Hunt / CC BY-NC-SA

Photo credit: PeterThoeny via Visual Hunt / CC BY-NC-SA

So I wake up the next morning and I can’t open my eyes. The pain is excruciating. I had two inflamed corneas. I actually drove to the gym thinking I just had something in my eyes that I couldn’t get out…but it was dark outside. Once I got inside, the lights were brutal. Somehow, I managed to drive home.

An hour and a half later, my wife was leading me through my eye doctor’s parking lot. And I mean leading. I had a hand towel covering my eyes to block out as much light as possible. I don’t know how the blind do it.

But let’s be honest. Many of us treat our businesses this way. We operate blind. We don’t know where we are going. We don’t have a plan. Many in CRE, especially brokers, treat their business more like a hobby. We don’t know our numbers.

We have no clue about our expenses. We don’t know what really works and what doesn’t. We just keep moving forward…blind.

I travel a fair bit. The first thing I do when I leave the airport and get the rental is to figure out the route to the hotel (or my meeting place). Regardless of the mapping app you use, it needs one bit of information. It isn’t your destination. It is your current location. That is the most important part of getting to your destination – where you currently are.

You have an opportunity to understand where you are. Earlier this year, 522 brokers took the Massimo Group Annual CRE Brokerage Survey. The results are a fantastic picture of the State of CRE in 2016.

Tomorrow at noon Eastern, Rod Santomassimo is going to share with you those results. You are not going to want to miss it. To register for the webinar, just press the button below…and I’ll see you there.

Claim Your Seat Now!

The Difference Between the Amateur and the Pro

I was listening to a podcast this week as I was traveling to spend a few days at the global headquarters of the Massimo Group. I love listening to podcasts.

Amateurs practice until they get it right.Pros practice until they can't get it wrong.

And most of the major thought leaders in just about any industry have them now. I’d like to have create one myself at some point.

But consider this, you can learn anything through podcasts. The major thought leaders are offering to personally and virtually mentor you. And most of us don’t take advantage of the wealth of knowledge that is out there waiting for…just waiting.

I listen to podcasts when I work out. I listen to them when I’m traveling in my car. I listen to them when I’m on a plane. I sometimes fall asleep listening to them in a hotel room. They stimulate my thinking. They challenge the status quo in my mind. They give me new ideas.

This particular podcast is called Steal the Show by a best-selling author and actor, Michael Port. He was interviewing a theatre teacher, Melissa Friedman, who said this about practice:

Amateurs practice until they get it right. Pros practice until they can’t get it wrong.

How true is that?! I love that quote. And even more true is the fact that by this definition, most of us are amateurs.

All of us can benefit by more practice – not just to get it right, but to make sure we can’t get it wrong.

5 Areas Most of Us Need More Practice

  1. Prospecting calls – I think it is a huge mistake to not practice (role play) prospecting calls with peers and mentors in our office on a weekly basis. We don’t do it because it is uncomfortable. But pros role play and practice until they know exactly what to do regardless of the direction a call takes.
  2. Opening statements – Wether a phone call or a face to face meeting, the opening statement is the most important. It sets the tone for the meeting. It demonstrates confidence or incompetence. And, we know we are going to get to say it. You have to nail it. To do that, you must practice it…until you can’t screw it up.
  3. Voice mails – Any of us who make prospecting calls are going to reach people’s’ voice mail boxes. This is an argument for another post, but you should leave a message. Since you know you are going to be leaving messages, why do you allow yourself to leave a bumbling one. Be confident and compelling. Be efficient. Give a real reason to call you back. Practice it. Nail it!
  4. Closing – You might need to regularly try to close for a meeting. Maybe you need to close a deal. All of us in business are trying to generate business. Yet we don’t practice our closing techniques. Most of us don’t even ask for the business! If you lack a skill like closing, buy a book. Ask to shadow a top producers. And then practice until you can close with confidence every time.
  5. Goal setting – Setting goals is the single most important activity for achieving the success you long for. And most of us do it wrong. Take a course. Read a book. Figure out how the successful in your industry do it. Then do it yourself. Practice.

Now today is an exciting day because my business partner in Massimo University is releasing 7 Days to Your Best CRE Year Yet – a goal setting course from Rod Santomassimo. The third and final video of his free video series on Setting Yourself Up for 2016 goes live today and you can watch it here.

If there is just one thing to help you move from amateur to pro in 2016, nailing your goals and taking action to achieve them is it. This 7 day course will show you exactly what to do.

Watch the video now!

Why I’ve Joined the Massimo Group

And why you may want to as well

I met Rod Santomassimo in 2007. Sperry Van Ness was recruiting our firm, and Rod was giving my parents and me – along with 10 other prospects – a presentation. I remember thinking, “This guy is tough as nails and knows what he’s talking about.”

massimo-logo

My next interaction with him was at SVN bootcamp. He was playing the role of Mr. Big Ego, and I had to give him a presentation to win his business. Our group won his business. I felt like I impressed him. He probably doesn’t remember that, but I was proud of it.

Then he started the Massimo Group, and I hired him as my coach. For two years, he had a profound impact on my business. We restructured my entire prospecting system (which probably saved the company) and focus. He encouraged me and showed me how to build a presence.

Then he asked me to become a coach for the Massimo Group. I was coming off a really bad year in CRE because I’d started an insurance company that had failed. My attention had been diverted. I hesitated to tell him yes. So I spoke to my mentor who told me to do it. He said that coaching would sharpen my ax. He was right. My brokerage career had its best years while I was coaching.

So for the last 5 years, I’ve been coaching CRE brokers. During that time, I’ve owned and operated a CRE brokerage firm, I’ve been a corporate exec at a national CRE firm, and I’ve been a VP at a food safety technology start-up. The constant during that time has been the Massimo Group.

I love to coach. I love to see my clients grow in their prospecting, presence, fill their pipelines and explode their production. It is some of the most satisfying work I’ve ever done.

And it is so different than training. Trainers show up, brain dump, and then leave you with their well-wishes. Coaching is jumping in a fox hole with your client and ensuring they accomplish their goals. It involves accountability.

So when Rod started talking with me a couple months ago about coming on with the Massimo Group full-time, I was intrigued and excited. And after nailing down some details, I’ve completed my first week as Executive Vice President of the Massimo Group. I’m convinced that we’ve only scratched the surface of what’s possible. Our clients see results. They average 5 times more income than the average CRE broker.

It is a blast being a part of that.

What we need from you…

The Massimo Group needs more coaches. We have approximately 15 coaches now, and we are at capacity. New clients have to wait sometimes 6 weeks before we can place them with a coach. This is a great problem to have, but one we have to solve.

If you:

  • have strong transactional history and experience,
  • can be coached and can follow a system,
  • don’t struggle with technology
  • want to sharpen your ax as you positively impact others,
  • value making a difference more than financial gain (the financial gain isn’t bad at all),

then I want to talk to you. Shoot me an email at bo @ massimo-group.com and let me know you are interested.

Tomorrow, I’ve got another announcement I’m excited to share with you so be sure to check back.