Nailing Your Value Proposition – Day 9 of 30 D2aBB

Why You? Why Your Company? And Why Now?

There is so much written about crafting a value proposition – or an elevator speech. I’ve written about it in the past as well. You can read that post here for information on how to craft it.

What I want to share with you in this post is how dynamic a value proposition can be – and the different version you need at the ready.

Nail Your Value Proposition

A value proposition communicates three things: why you, why your company, and why now. It does so in terms of the benefits for the prospect.

But it can’t be rote memorized. Your value proposition needs to be dynamic. When you explain why you, you need to do it in a way that speaks to your audience. In other words, if I’m speaking to an institutional investor, I may communicate how I produce returns for my clients. If I’m talking to a widow, I may communicate how I take the headaches out of a real estate transaction and simplify the lives of my clients.

You don’t commit intellectual suicide when you are prospecting. You have to think and anticipate. And then act accordingly.

Beyond having dynamic topics to insert into your value prop according to the need of the moment, you need at least 3 versions of your value proposition.

  1. Super Short Form – This is when you have 30 seconds or less. It can happen on a prospecting call when these 30 seconds can earn you the right to continue the conversation for the next couple of minutes. Or it is for the fortuitous meeting. Think about when you are in line at Starbucks and realize the prospect you’ve been pursuing for a year is standing in front of you. You need to be ready.
  2. Long Form – This is when you have 2-3 minutes. You can communicate so much in 180 seconds – if you are prepared.
  3. Written Form – You should be using prospecting letters in your prospecting system. A written version of your value proposition needs to fit in one paragraph. You don’t have much space in a prospecting letter so you need to brief and razor-sharp.

Parting Tips:

  • If you want to sound like every other broker, call a prospect and talk about yourself and what you do. I promise you they don’t care. Focus on how you benefit the prospect.
  • If you are bored delivering your value prop, guess what? They are too. Go back to the drawing board and add some energy and passion.
  • Practice. Then practice some more. Then role play with someone in your office. Then practice some more. I used to tape myself giving different versions of my value prop and then listen to it. Go practice some more.

Here is my question for you. If you were in one of my coaching groups, and I put you on the spot, could you deliver a clear, concise, and compelling value proposition? If not, you’ve got some work to do. You can leave a comment by clicking here.

Systemizing Your Business – Day 2 of 30 D2aBB

Stop Throwing Stuff Against The Wall And Hoping Something Sticks

I spent 5+ years in the Marine Corps. It changed me, and there was a ripple effect.

When I was in college, and my wife can testify, I was a slob. My room was more than messy. My bathroom was frightening. Before that, my mom made me do my own laundry because I would not pick up my room. When she saw that I was ok with that deal, she made me keep the door to my room shut so my younger siblings would not see my bad example.

Day 2 of 30 D2aBB

Then I enlisted. The Marines are fanatical about cleanliness – from the head (bathroom), to personal hygiene, to our uniforms. Everything should be perfect all the time. I was married after 1 year in the Corps. For the sake of my marriage, I had to get over my heartburn because my wife did fold my undershirts 6″ x 6″.

In fact, I took my 3 kids to see the Marine recruiter earlier tonight after we ate dinner. I was actually embarrassed walking in there because I did not shave today. Sheesh.

The Marines are also fanatical about systems. Everything they do is thought out and time tested. There is no reinventing the wheel. The reason we are so passionate about systems is they produce a predictable and desired outcome.

[Free Webinar] How to Simplify and Expand Your Business with ClientLook

I’ve written about this before, but I get asked about my recommendation on CRMs more than anything.

And rightfully so. A great Customer Relationship Management application is a crucial part of the technology backbone of any business – especially commercial real estate.

I’m really excited to announce my first webinar with ClientLook this Wednesday, August 19 at 3pm Eastern.

Claim My Seat for the Webinar!

You want to be on this webinar if:

  • You are frustrated with complex CRMs that suck your time instead of save your time.
  • You want all your data with you at all times so you can maximize your productivity on the move.
  • Or in other words…never feel chained to your desk again!
  • You waste too much time with data entry – ClientLook has a brilliant solution for this.
  • You spend too much time reporting deal activity to your clients and owners.
  • You want a CRM that will not only help you find and track, but will actually help you win business.
  • …and so much more!

John Dawson, VP of Sales for ClientLook, is going to join me on the webinar to give a product demonstration. If you have ever wondered what ClientLook looks like behind the curtain, or what it can do, this is your opportunity.

I’ve also negotiated a special deal with ClientLook that you can only take advantage of on the webinar.

So I hope you’ll join me on Wednesday at 3pm Eastern. You will be glad you did as ClientLook is everything you need in a CRM, and nothing you don’t.

Claim My Seat for the Webinar!

The 6 Mindsets Holding You Back

And the Truths that Will Set You Free

I have poison ivy. Both arms. My stomach. And my ear. I kid you not. I have poison ivy on my ear lobe.

The reason? I love my wife.

look upinto the stars.

Earlier this week, she asked me if I would help her trim the landscaping in our back yard. Evidently – there is poison ivy back there.

When I do yard work, I binge-listen to podcasts. This week, I was listening to Michael Hyatt’s podcast – What if the Barrier’s Were Only in Your Head? It got me thinking about the things we believe in our minds.

Some of those beliefs are rooted in truth. Some are not. What we believe is true about ourselves has a tremendous impact on our performance. Our mindsets are rooted in truth, or they are rooted in a lie.

[Free Webinar] How Your Marketing Can Win You Listings

Commercial real estate is changing. The internet has helped in leveling the playing field. Best practices are now easily shared – within companies and without. It is now harder than ever to differentiate yourself from your competition.

This month’s webinar with my friend Kris Krisco of Buildout.com is all about how your marketing should actually win you listings. You can register for the webinar – at 3pm Eastern on August 5th – by clicking here.
by ShadeON via iStock.com

by ShadeON via iStock.com

The marketing of your listings is for the purpose of finding the most potential buyers. The more buyers equates to more offers. More offers, if the listing is priced right, can generate a quasi-auction environment. So not only do you find a buyer, but the best buyer – and, get the most out of that buyer.

But you can also use your marketing to win listings.

5 Reasons Why There Is No Magic Prospecting Script

I’ve recently had a number of my New to the Business (N2B) coaching clients ask me for prospecting scripts. They are new clients, and they are new to commercial real estate (CRE). Had they been with me for a while, they would have known not to ask. I want to share with you why in this post.

But first, a story…

Image of young upset female in quarrel with her husband

Image from shironosov via iStockPhoto.com

I’m in my 15th year of marriage. I love my wife more today than I ever have. She is incredible, and I count myself one of the most blessed men on the planet.

But…we still deal with conflict. She is not married to a perfect man. And despite her awesomeness, she isn’t perfect either.

Recently, we were dealing with some conflict in our marriage that had gone on for a number of days. My wife was frustrated with me. I was frustrated with the situation. Life in the Barron household was not smooth or enjoyable…at all.

The Beginner’s Guide To Prospecting

The Step-By-Step Process for Maximizing Your Income by Pursuing the Business You Want

Have you ever wondered how the best of the best do it? Do you wonder how you can ascend to the ranks of the top-producers? Have you ever be frustrated with your own production or wondered where the next deal will come from?

I know how you feel.

When I began in the Commercial Real Estate industry, I had some inherited advantages. I was 3rd generation in a small town. My father, uncle, and grandfather had built for us a great name. I was walking into a no-lose situation.

However, if I weren’t a gene-pool lottery winner, I think I might have failed.

Why?

I didn’t implement a prospecting system to go after the business I wanted. I did not fill my pipeline with opportunities. I produced no deal flow.

It was years later, after hiring a coach through The Massimo Group, that my eyes were opened to how to go after the business you want.

Here’s the truth. The top-producers in CRE prospect continuously. They do it systematically. They track and know their numbers cold.

You can do the same. You should do the same. Unless you enjoy mediocrity, you must do the same.

So I’ve written my first ebook: The Beginner’s Guide to Prospecting – The Step-By-Step Process for Maximizing Your Income by Pursuing the Business You Want.

 

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In this step-by-step, in-depth guide to prospecting, you’ll find:

  • How to choose your specialty (and why you should specialize in the first place)
  • How to build your database (there are only 3 ways)
  • How to write a prospecting letter that warms up a prospecting call (it’s too quick and easy not to do)
  • How to use the true purpose of a prospecting call to generate more meetings
  • How to make the meeting about your prospecting (and not you!)
  • How to give a winning presentation (and differentiate yourself from your competition)
  • And much more…

prospecting ebook screenshot

You can’t buy The Beginner’s Guide To Prospecting anywhere. The only way you can get it is to subscribe to my FREE email newsletter. That means you will get an email every time I publish a new post or offer (about once a week.)

That way, you don’t have to visit my blog to stay up to date on fresh content. And you can unsubscribe at any time.

All you need to do is click the button below. Once you do that and confirm your email, I will email you the link to download this free resource.

Send Me The Free Ebook!

You really have 3 choices at this point:

  1. Keep the status quo
  2. Figure it out on your own…the slow way
  3. Let me share with you, for FREE…the fast way.

It’s up to you!

[Video] Ask Bo – A Question from Jeno Berta on Prospecting

This episode of Ask Bo stems from a question sent in by Jeno Berta.  Jeno has a great question regarding prospecting for a New to the Business (N2B) broker.

He asks about what daily prospecting tasks are essential to the N2B broker as well as what one habit is most important to to the success of his business.

Go check Jeno out on Twitter at @jeno630.

I also mention in the video the prospecting series I wrote. Click here to see The 8 Steps to a Killer Prospecting System.

If you would like to ask me a question, look to the right of the screen and click the ‘Send Voicemail’ button.  You can then send me a voicemail straight through your computer. The next episode of Ask Bo could be featuring you!

Have a blessed day!

Bo Barron, CCIM Featured in CCIM Publication – CIRE

A few months ago, the CCIM Institute asked me to participate in their System for Success series for Commerical Investment Real Estate (CIRE), their award winning publication.  I was honored to do so.

This is the link to that article where I share what I believe it takes for brokers to thrive in the current economic climate.

System for Success Article for CIRE

April’s Top Posts from theBarronBlog

In case you missed them, here are the top posts from April on the topics of Next Practices in Life, Business, and Commercial Real Estate.

I do want to invite you to subscribe to this blog just to the right of what you are reading now.  This will make it so easy for you to get my new posts without having to remember to check my site.  And I will never violate your privacy!

 

April’s Top Posts:

 

Make the dang call! via iStockphotot.com

Make the dang call! via iStockphotot.com

The Anatomy of a Cold Call – While I don’t believe in scripts, I do believe in crafting your opening statement before you call.  Most salespeople have the most problems with how they start the call.  ”Uh, hi.  My name is Bo Barron and I’m with ABC Co.  Uh….how’s it going?”  Terrible!    Read more…

 

 

 

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The first face to face!

The 5 Steps of the Initial Meeting – With some experience and some great coaching, I learned a better way.  Remember, if you are following my system, this initial meeting should be short.  Actually, you told the prospect that it would be short.  If you connect and the prospect starts asking questions – great.  You may be there 2 hours.  However, you told them short.  Prepare for short as you are making an impression as someone with integrity…or not.  Read more…

 

 

 

It is go time!  What do you do?

It is go time! What do you do?

The Winning Presentation – You have now landed a meeting to make a listing presentation (or whatever presentation applies to you).  You have worked through the entire prospecting process to get to this point.  Your put in the work becoming a market specialist.  Building a database.  Sending letters.  Making cold calls.  Conducting the needs analysis.  It has all led to this moment.  You sit in front of the prospect.  The business is there for the taking.  You have the privilege of potentially improving the life of the person in front of you.  What do you do?  Read more…

 

Bo Barron Speaking

Bo Barron Speaking

Why Do We Fall? [Video] –This week I had the privilege of traveling to Salisbury, MD to visit SVN Miller Commercial.  This group is the Sperry Van Ness 2012 Firm of the Year.  They are a study in how to build a team with incredible culture.  They like each other.  They have tradition.  They have camaraderie.  They absolutely dominate their market.

I had the pleasure of training their entire company primarily on prospecting.  At the end of our afternoon together, Brent Miller played this video.  I was so moved that I wanted to share it with you.

  Read more…

 

iStockPhoto

iStockPhoto

Clarity Series – Prospecting – Summary & Conclusion – When I was 15, my dad hired me to clean out a concrete drainage ditch.  That ditch ran behind the houses of a street he had developed.  We agreed on a price and I started digging.  I soon discovered that I could hire my friends at a rate higher than minimum wage.  I made all the income when I did the work.  I made half that amount when they did the work.  Read more…

Thank you so much for reading.  Towards the end of May, I will be introducing another Clarity Series on Presence.  As always, I’d love to hear from you in the comments section.

Question:  What is the single most important activity that drives your business?  I challenge you to articulate and explain your answer in the comments below.