Category Archives: Business

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Introducing the Clarity Series: Prospecting

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Clarity is an elusive gem.  When you have it, you are a rock star.  When you don’t…

Don't I look smart? My wife thinks so!

Don’t I look smart? My wife thinks so!

A month ago I was playing guitar in the praise band at the church I attend.  I’ve done this since I was in high school.  For the first time, I noticed that I was having a difficult time making out the chord charts.  This had never happened to me before.  [And Peter, I’d love to jam with you sometime.]

I had a particularly hard time distinguishing between a B chord and a D chord.  If you play any kind of instrument, you will understand that getting confused and playing the wrong chord in the middle of a song is bad.  It gets noticed.

So, for the first time since high school, I had my eyes examined.

I had the puffs of air blown in my eyes (I just about fell backwards out of my chair – warn a guy!)  I had a retinal scan.  Then I had the experience where the doctor asks, “Which one is clearer…1 or 2.”  At the end of the tweaking, he showed me what my vision was like.  Then he showed me my vision with corrected lenses.

I was blown away!  I had no idea how clear vision could be.  Now, my sight is not that bad.  I have a mild astigmatism.  The glasses help when I read, and they help with the stuff far away.  However, I am wearing them all the time.  I love the clarity.  Plus, my wife thinks I look smart!

Clarity is such a powerful thing.  It allows you to act with direction and focus.  It gives you the ability to maximize your efforts and your results.  Clarity of purpose allows you to say ‘no’ to good things and ‘yes’ to great things.

I am introducing the Clarity Series.  Let me explain what the Clarity Series is.

  • To this point, my posts have been random in nature.  I write about Next Practices in Life, Business, and Commercial Real Estate.  However, there has been no rhyme or reason to my posts.  They are basically whatever hit me at the time. 
  • The Clarity Series will be a series of posts on a specific topic.  You will know where I am headed and what to expect
  • I am starting with the topic of Prospecting.  I chose this topic because I believe it is the single most important factor that differentiates top producers from everyone else.
  • I’ve written about prospecting many times, but this will be an orderly and systematic approach.

The Clarity Series: Prospecting will have a beginning and an end.  If this is well received and adds value, I will take on other topics.  I am thinking that ‘creating presence’ would make a great next topic.  Please use the comment section to suggest other topics.

I previously wrote a post about the 8 Steps to a Killer Prospecting System.  This Clarity Series will break down each of those steps in much more depth.  Please keep in mind that the context here is Commercial Real Estate.  However, these steps are applicable to anyone with a product or service to sell.  The 8 steps are as follows:

  1. Define Your Geography
  2. Choose a Specialty
  3. Build Your Database
  4. Send Something in the Mail
  5. Make the Dang Call
  6. Have the Meeting
  7. Make the Presentation
  8. Secure the Business

Now is your opportunity to share with me your thoughts.  Would you add a step to this process?  Are there specific questions you have with any of these steps?  Share with me these questions in the comments section, and I will do my best to address them.

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Book of the Month from Dan Pink

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BookoftheMonth

I read a lot.  Most of my good ideas come from the books I’ve read.  I am constantly suggesting to my clients books that can help them with problems they are facing.  So I am going to offer to you each month a book for your consideration.

I did not enjoy doing book reports when I was in school.  I don’t plan on doing them now.  However, I am going to try to wet your appetite because these are books that have helped me.  They have helped me learn.  They have helped me grow.  They have helped me to think differently.

Charlie “Tremendous” Jones says, “You will be the same today as you will be in 5 years except for two things:  the books you read and the people you meet.”  I agree with him completely.

To Sell Is Human

To Sell Is Human

This month’s book is To Sell Is Human: The Surprising Truth About Moving Others by Dan Pink.  You may be thinking to yourself that you don’t want to read another sales book.  If you are, you should reconsider.

Dan Pink is a rock star story-teller.  He is also a world-class researcher.  What he has done in this book is weave together powerful data with engaging stories.  You haven’t enjoyed learning this much in a long time.

And his thesis is true – we are all in sales.  US Labor statistics says that 1 in 9 jobs in America are a sales job.  The other 8 are as well!  We are all in the business of trying to move people.  Are you a teacher?  You are trying to move your students.  Are you in the health-care profession?  You are trying entreat people to live differently – healthier.  You are in sales.

[Quick aside:  I ended a conversation with my little sister to finish this post.  I promised her a shout-out.  Love you Mange!]

This book was an eye opener for me on many levels.  Do you know the most compelling way to make a pitch?  You will after you’ve read this book.

Do you believe the myth that an extrovert is a natural top performing salesperson?  You won’t after this book.  It isn’t the introvert either.

You will also learn:

  • The new ABC’s of selling (Goodbye to Alec Baldwin’s Always Be Closing) – Attune, Buoyancy, and Clarity.
  • How to give the Pixar Pitch.  Hint:  it starts with “Once Upon a Time.”
  • The 6 successors to the elevator pitch.
  • The 3 rules for understanding another’s perspective
  • And much more.

This book is counter-intuitive and supported by a ton of hard data.  It is compelling and will absolutely challenge long-held beliefs that I bet that you hold.

If you are not familiar with Dan Pink, he has given one of the most viewed TED Talks to date with over 5 million views.  It is an incredible short talk that you should watch.  He is outstanding, and his topic is motivation.

If you have read this book or are about to, I would love to hear you thoughts in comment section.  Let me know what your first ‘Aha’ moment was from the book or his TED Talk.

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What is WOW and 5 Steps to Make it Part of Your Business

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My wife has an angelic voice (right now she has laryngitis and is confined to a whisper).  She is a beautiful Southern girl.  Before she gave it up to marry me, her dream was to go to Nashville and be a country singer.

WOW!

WOW!

I don’t like country music as a rule.  The main exception to this is I liked the Keith Urban music that she would play.  One year, as a gift to her, I took her to a Keith Urban concert in Memphis.  By this time, I knew his music.

My first observation of that concert was that it was my wife and me and 15,000 17-year-old girls.  I felt completely out-of-place.  Then he started playing.  The songs that I thought were good were suddenly outstanding.  I found myself wondering why the same songs were so much better live.  I was completely blown away.

I think there were a couple of reasons.  First, I play guitar.  I appreciate talented guitar players.  Keith Urban might be the best guitar player I have ever seen live.  I did not expect this to be the case.

Second, the energy in the place was off the charts.  I found myself moved.  I did not expect this either.

Third, the sound and lights coupled with the excellence of the live delivery shocked me.  Urban and his band were awesome musicians.  They played with passion and authenticity.  I could feel the emotion and the connection they had with the music.  Then you add the lights and multi-media experience, and I was loving it.  I completely didn’t expect that.

A couple of months later, I ran a mini-marathon (it didn’t feel mini!).  You know what I listened to for about 2 hours?  Keith Urban.  His concert completely exceeded my expectations.  It gave me goose-bumps.

That is what WOW is – goose-bumps.  I’m still not a country fan, but I will listen to his music anytime.  I’ve had an experience with it.

In his book Platform:  Get Noticed in a Noisy World, Michael Hyatt begins that you must start with WOW.  So how do we know what WOW is?  It is constantly exceeding the expectations of your clients, prospects, customers, volunteers, etc.  It is delivering goose-bumps.

So let’s consider how you can apply the concept of WOW to your business.

How to Apply WOW in Your Business

  1. Be Intentional – you don’t succeed in the WOW category on accident.  How many hours of planning and practice did Keith Urban and his band put into that concert?  Purpose to exceed your clients’ expectations.
  2. Put yourself in your clients’ shoes – Have you ever tried to think like your customer?  What is their experience like when they call your office?  Or walk into your waiting room?
  3. Understand their expectations – You can’t be purposeful about exceeding expectations if you don’t understand what they are.  Ask your clients.  Write down what you think.  Involve your team.
  4. Examine every aspect of your business – What I am talking about here is looking at every point where your business touches a client.  Or you can take it a step further and consider how you can exceed the expectations of your employees or team members.  Think about business development, customer service, leadership development, HR, IT, follow-up, etc.
  5. Define the win – You need to be specific about what WOW looks like.  I read a great book called Mr. Schmooze (it is way better than what the title suggests).  In this book, the author uses the term elevate.  Ask yourself constantly how you can elevate the experience of your clients – how can you give them goose-bumps.  Write it down!

These are next practices!

Now ask yourself – do I deliver WOW on a daily basis?  What would your referral business look like if you did?  Share in the comments below how you could do this in your business!

 

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February’s Top Posts

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In case you missed them, here are the top posts from February 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!

 

February’s Top Posts:

iStock_000021836294SmallWhat are You Worth? – I have a mentor and client who is incredibly successful.  He owns over a dozen businesses. He employs hundreds of people.  He loves Jesus and is one of the most generous men I’ve ever met.  He is an amazing man.  He is someone who we should all want to be like.  A couple of years ago, I was meeting with this man.  I asked him what the inflection point was in his career.  He surprised me with his answer. He told me about a conversation that he had with his mentor.  At that time, my mentor had hit his limit.  He was experiencing what John Maxwell calls the Law of the Lid (read the book – affiliate link).  Read more…

 

Me and the Beast

Me and the Beast

A Letter to My Kids – So, here is a not so short letter to my children.  I share this because I believe intentionally communicating with our children what they should know is a great idea.  Tomorrow is the first day of the rest of my life, but it could also be my last.  I want to intentionally take steps to share certain things with my children that could make a huge difference in their lives.  I share this to encourage you to do the same.  Read more…

interviewCRE All-Stars:  An Interview with Chad Grout, CCIM – I tried something new!  Thanks to my new friend Dan Hayes, I can now record a Skype call (if you want to know how, just leave a comment below, and I will hook you up).  This is the first in a series of interviews of CRE All-Stars.  I will be interviewing CRE All-Stars throughout the United States and bringing you their best practices.  So…meet Chad Grout!  I asked the following four questions to Chad.  Read more…

  1. How did you get into CRE?
  2. How did you decide on your specialty?
  3. How have you gone about establishing your presence and becoming the top-of-mind broker in your specialty?
  4. Explain what having a coach for your business has allowed you to accomplish?

Thank you so much for reading.  I’m excited about the topics for March’s posts.  If you have any ideas on what I should write about, please leave your suggestions in the comments below.

 

 

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What Are You Worth?

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What are you worth?  You don’t have a clue, do you?

I have a mentor and client who is incredibly successful.  He owns over a dozen businesses. He employs hundreds of people.  He loves Jesus and is one of the most generous men I’ve ever met.  He is an amazing man.  He is someone who we should all want to be like.

iStock_000021836294SmallA couple of years ago, I was meeting with this man.  I asked him what the inflection point was in his career.  He surprised me with his answer. He told me about a conversation that he had with his mentor.  At that time, my mentor had hit his limit.  He was experiencing what John Maxwell calls the Law of the Lid (read the book – affiliate link).

In that conversation, my mentor asked his mentor, “Why can’t I break through?  What is my problem?”

Last week at my company’s national convention, I spoke on becoming a Power Prospector.  Afterwards, one of our top producers wanted to talk with me.  He is tapped out.  He has so much business.  However, he is struggling to keep up with it all. He’s trying to do everything himself.  It isn’t working.

I ask you again.  What are you worth?

This is one of the most important things that you can know when running your business.  Why?  Because you have more to do in any one day than you can accomplish.

Delegation

In both of the stories above, lack of delegation is the problem.  My mentor was trying to control everything.  He wouldn’t delegate.  Thus, he was the bottleneck.  He was the problem.

Our top producer has not put together a team or a system to maximize his efforts.  He is the Lid holding his business and his productivity back.  We are going to remedy this situation, and his business is going to explode.

You have heard that delegation is a good idea, but can you articulate why?  As the CEO of you, there are certain tasks that only you can do.  These are the high-dollar activities or the high value creation activities.  You want to delegate everything else so that you can focus on those activities.  Said another way, anything that anyone else can do, they should do.  This frees you up to do only things that only you can do.

To effectively accomplish this, you must do 3 things:

  1. Catalogue your activities – Before you can delegate, you must know with clarity all the activities that take up your time.  The best way to do this is to catalogue everything that you spend time on for a week.  Write it all down.  Some of you just rolled your eyes.  Don’t skip this step.  Write it all down.
  2. Triage – The triage step involves deciding which are the high dollar activities and which need to be delegated.  Ask yourself, “If I could only do 3 of these activities, which ones would they be?”  Some you will simply want to delete and stop doing entirely.  This step gives you clarity of purpose.  It also gives you the job description for the team member or virtual assistant that you may add.  If you already have an assistant or team in place, this list is now their playbook.
  3. Know what you are worth! – Many of you will be tempted to simply read this and move on with your life.  I challenge you not to.  Go through this with me.  You will thank me.

I’m going to use round numbers.  Let’s assume that you work 50 weeks a year and 40 hours a week.  Now write down what your income goal for the year is.  Great.  The math looks like this.

50 weeks x 40 hours/week = 2,000 hours worked in a year

Income Goal  / 2,000 hours = your value per hour

If you want to make $100,000 this year, then $100,000 / 2,000 hours = $50/hr.  If you want to make $400,000 this year, then your are worth $200/hr.

Rod Santomassimo, the president and founder of the coaching firm the Massimo-Group, knows his number.  He has a note on his desk that reads, “Is what you are doing right now worth $___/hr?  If not, stop doing it!”  This is why you must know your worth.  It allows you to effectively focus on the activities that maximize your effectiveness and earning potential.  Otherwise, you are leaving money on the table.

So what are you worth?  How will knowing this number effect how you lead and work?  Let me know in the comments below!

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January’s Top Posts

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In case you missed them, here are the top posts from January.  Key to note – January marks the first month I’ve expanded the topics of my blog – from Commercial Real Estate best practices to Next Practices in Life, Business, and Commercial Real Estate.  Thus, please enjoy the post below on marriage as well as other business and CRE topics.  Thanks for reading!

I also want to invite you to sign up just to the right to receive my new posts straight to your email inbox.  Don’t worry about remembering to check my site.  I will do the work and make sure that you never miss a post.  I will also never share your information.

 January’s Top Posts

iStockPhoto via Erikona

iStockPhoto via Erikona

Why You Should Use a Simple CRM – ClientLook – CRE Tech & App Review – On the front-end, I must confess to being a CRM-hopper.  I started my career in 2004 with a legal pad – literally.  Then I moved on to Outlook.  Please pay attention when I say this.  Outlook is not a CRM system – sorry Dad.  It is simply email with contacts and a calendar.  Read More…

 

2012-12-21 22.10.31

12th Anniversary Trip

What 12 Years has Taught Me About Having an Awesome Marriage – I’ve had a crush on my wife – still do – since the day I laid eyes on her.  I was 10 years old in youth church choir.  She sings like an angel, and I liked being around girls that could sing like an angel.  It took me 8 years to ask her out.  Two reasons caused the delay.  I was sort of a dork, and she was intimidatingly beautiful – still is!  After 5 years of me proving that she is the most forgiving person on the planet, we got married.  (This is by far the most condensed version of ‘our story’ that I’ve ever pulled off).  Read More…

 

iStockPhoto from cosmity

iStockPhoto from cosmity

The 3 Benefits of a Well Done Prospecting Letter – You have to assume that at least 50% of recipients are not going to read your letter.  They just won’t.  And that is fine.  All I’m trying to do is warm up my initial cold call.  When I call those who actually read it, my ratio for getting a meeting goes up.  Read More…

 

 

iStockPhoto by hidesy

iStockPhoto by hidesy

The One Secret to Winning the Business Every Time – When I started in the Commercial Real Estate Business, I knew that the listing presentation was important.  Very important. I wrote and rewrote.  I practiced and then practiced some more.  I would record myself and play it back while I was driving.  It was canned…  Read More…

 

iStock_000010779625Small

iStockPhoto

5 Reasons to Develop Decisiveness Using the 70% Rule – You will experience failures in your personal and professional lives.  It should not be the failed goal that defines the experience but the way that we respond to the failure.  Consider reflecting on these questions…  Read More…

 

 

January’s Stats

I’ve read on some other sites where they post their stats.  I have always appreciated this – as much as a benchmark as anything else.  It is difficult to know how well you are doing sometimes.

  • 2,371 Unique Visitors
  • 6,761 Page Views
  • 65% Percent New Visitors
  • 61 Countries
  • 30% from a mobile device
  • 81% of those from an iPhone or iPad
  • 119 Subscribers to my email list

I wish you all a fabulous February.  I turn 36 this month!  If you have any comments on the posts above or would like to make a suggestion on what you would like to read, leave a comment below!

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The 18th Rule of Email Etiqeutte

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See below…

Last week I was in Chicago visiting our main technology provider.  I had a great day with these guys.  At lunch one of them made a comment that made me rethink something I do all the time.  So thanks Vishu.  You have given me the 18th rule of email etiquette.

iStockPhoto by SquaredPixels

iStockPhoto by SquaredPixels

Last year I wrote a post called the 17 Rules of Email Etiquette.  Before I give you the 18th rule, here is a recap of the other 17.  These definitely bear repeating.

  1. DON’T USE ALL CAPS – just hard on the eyes, is it not?
  2. Sarcasm doesn’t translate
  3. Email is a poor medium for bad news
  4. Don’t reply all! – my company does this too much, and I’m falling into the habit.  That ends now.
  5. Use property grammar (revision – I used property there instead of proper – kinda Freudian, no?)
  6. Use the spell check
  7. Re-read before you send
  8. Understand the permanence of email
  9. Don’t be a jerk
  10. Proofread your emails
  11. Keep your emails brief
  12. Don’t email angry – I did this last week and definitely regret it.
  13. Please don’t forward chain emails
  14. Refrain from using ‘high priority’ – if it is high priority, call.
  15. Craft an appropriate and descriptive subject
  16. Complete your signature
  17. Be pithy

18 – It is lazy to forward an email to someone else without your comments.  How often do you forward an email with just a comment that says ‘See below…’  I do this all the time.  When we do this we miss the opportunity frame the information and share our thoughts.  If it is important enough to forward to someone else’s inbox, take the time to tell them why in your own words.  Otherwise, they just have to guess.

So I ask you – how often do you forward an email without stating why or giving context?  What would your 19th Rule be?  Leave us your input in the comments below.

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5 Podcasts that Will Make You Smarter

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Recently, I was able to connect with one of my closest friends while driving home from a trip to Chicago.  This guy is the kind of friend that everyone needs.  He was in my wedding.  I was in his.  We were fraternity brothers at Murray State University.  He was the quarterback.  I was the receiver.  We even dated the same beautiful Southern girl (not at the same time) who I now get to call my wife.

iStockPhoto via jodijacobson

iStockPhoto via jodijacobson

He is the kind of friend when you haven’t spoken for a year, it is like it was yesterday.  Everyone needs at least one friend like this.  I am blessed to have a couple.

My friend was sharing with me an opportunity he has to leave the corporate world and start a business.  He has created something special that could be incredibly valuable to his customers and himself.  However, he told me that he doesn’t think he’ll do anything because he doesn’t have a clue about starting or running a business.

Fifteen minutes later I had brain-dumped all this information on him.  Now, I have started a business (that failed), and I have owned a business that I sold.  But the stuff that I was telling him surprised me.  How did I know this stuff?

Then it occurred to me that I was repeating a lot of great information that I had learned through listening to some incredible podcasts from businesses leaders across the United States (actually, most of them are in Nashville).

If you are not familiar with a Podcast, it is literally someone recording themselves speaking about some subject.  It is much like a radio show.  However, you can download these podcasts on your iPod, iPhone, or other smart-phone or mp3 player.  You simply subscribe through iTunes – for free – and they automatically download whenever a new episode is published.

Before I share with you which ones I love and recommend, let me share with you how I consume this information:

  • While working out – I can kill two birds with one stone when I engage my mind and my body at the same time.
  • While driving – great content is so much more effective than coffee at keeping me alert.  Not only that, but I can transform my car into a classroom and make the most of every moment.
  • On a plane – I’m actually on a plane as I write this somewhere between Nashville and Atlanta.  Were I not writing, I guarantee that I would be listening to one of the following podcasts.

My Top 5 Recommended Podcasts

  1. This is Your Life, A Podcast by Michael Hyatt – If you aren’t familiar with Michael Hyatt, you should be.  He has a top 100 (in the world!) blog on intentional leadership.  He has recently written a New York Times Bestseller called Platform:  Get Noticed in a Noisy World.  His is by far my favorite blog and his content is amazing.  His podcast is awesome too.  He is authentic.  You end up just liking him.  I get to meet him next month at our company’s National Conference where he is giving the keynote address.  I am also going to his Platform Conference the following week in Nashville.  Can’t wait!
  2. 48Days Online Radio Show by Dan Miller – Dan Miller rocks.  A mentor of mine suggested that I connect with him last year.  I ended up hiring him as a career coach.  He is also a bestselling author of 48 Days to the Work You Love and other books.  His podcast centers around careers, business plans, business models, and other career related info.  You can’t listen to him and not get fired up about what is possible.
  3. Ray Edwards Podcast – Ray probably has my favorite podcast.  He is very transparent and genuine, and he basically let’s you in on his life.  He is a productivity freak (I mean that in a good way).  His podcast is broken up into segments which I love.  He has a main message of each podcast, but also has a tech tip of the week, a spiritual foundations segment, and a segment with Stu McLaren who is great.  Ray is also a marketing genius.
  4. Entreleadership Podcast – I can’t believe that this is 4th on my list, but the others are just that good.  This is the podcast from Dave Ramsey and his main man Chris LoCurto.  Every show has a short message from Dave that sets the theme, but then they move to a guest interview.  The guests are amazing and are a who’s who when it comes to business.  You can’t get this kind of access to this kind of wisdom and experience anywhere else I’m aware.
  5. Podcast Answer Man with Cliff Ravenscraft – This podcast is obviously a little more technical.  I include it because at least the first three podcasts listed above are a result of Cliff’s expertise.  He is the expert when it comes to podcasting.  I hope to introduce my own podcast this year so I have been studying up.  Cliff is also a Kentucky boy like myself!

In one sentence, these podcasts are like being able to sit at the feet of these guys and learn from their wisdom.  And it’s free!

So who do you listen to that I don’t?  Who would crack your top 5?  Let us know in the comment section below!

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Ask Me Your Questions

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Take a look at the right column of this site.  I encourage you to sign up for the email list of this blog.  Not only will you receive every new post directly to your email inbox, but you will be the first to know of any new announcements.  There are some exciting ones coming up.  And I will never give your info to anyone…ever.

iStockPhoto from myrrha

iStockPhoto from myrrha

2013 is a year of new beginnings for me.  This blog has a new look and an expanded scope.  I have a new job.  I have a new vision for the future and new goals.  I couldn’t be more excited.

Another shift that starts now is I am purposing to focus more upon the highest interests of my readers.  Practically, that means I am trying to write for my readers.  Until this point, I’ve been writing whatever I hoped would be interesting or useful for someone.

In one of last week’s posts, The One Secret to Winning the Business Every Time, I make the case that the most important thing that you can do with your clients and prospects is understand their needs.  You do that by asking questions.

So today, I’m asking for your questions.  Here is how this will work.  You can ask me anything.  As this blog is focused on Next Practices in Life, Business, and Commercial Real Estate, your questions simply need to fall into one of those categories.  Feel free to ask about my experiences, background, job, or my thoughts on any subject.  I’m certainly no expert in most subjects, but I have thoughts on most.  I will respond in one of 3 ways:

  1. Your question will turn into a post – Some of you already been firing questions at me – and they are great questions. Those that warrant a full post will get it.
  2. I will respond that I don’t have a clue – This may happen more than I’d like.  However, if I don’t know, then I will tell you.
  3. I will find out – I expect some questions will pique my curiosity and will send me searching.  In that case, I will report back what I find.

To give you a feel for what I am working on, here are some post titles coming up in the future.

Life

  • A Review of the App ‘Book on Her’
  • How to Pursue the Hearts of Your Children
  • How to Create a Healthy Family Culture

Business

  • The 7 Steps to Cast a Vision that People will Follow
  • The Art of Delegation Results vs Tasks
  • Book Reviews

Commercial Real Estate

  • CRE App Reviews
  • Why You Should Consider Syndications as Part of Your Business
  • More Posts Unpacking the Steps in a Prospecting System
  • An Introductory Post on Creating Presence

Those are my plans, but I want to hear from you.  Here is how you ask a question:

  1. Use the comments section below
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The One Secret to Winning the Business Every Time

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When I started in the Commercial Real Estate Business, I knew that the listing presentation was important.  Very important. I wrote and rewrote.  I practiced and then practiced some more.  I would record myself and play it back while I was driving.

iStockPhoto by hidesy

iStockPhoto by hidesy

It was canned.  I would give that same presentation to an elderly couple wanting to sell their land.  I would give it to a bank looking to relocate a branch.  I would give it to the owner of an office building that needed to lease space.  It didn’t matter who it was.  I had it down.

I would talk about the experience of our company (this was important because I had little experience at the time.)  I would talk about successful transactions we had closed.  I would talk about my Marine Corps service (the only thing I had going for me at the time.)  I would talk about how young and hungry I was.  It was all about me.  This, I believe, is what the normal CRE listing presentation looks like.

Through much reading, coaching, and mentoring, I learned there is a much better way.  I was taught the secret.  Before I give it to you, let me tell you a story.

Not too long ago, I received an opportunity through a referral from a CPA (if you aren’t pursuing relationships with CPA’s, smack yourself and start tomorrow.)  Instead of preparing a canned listing presentation for the client’s portfolio of properties, I simply scheduled a meeting.  All I did in that meeting was ask questions.  I didn’t talk at all about me, our company, or my experience – zip.

By the end of that meeting, I knew a few things I didn’t know before.  This prospect was tired of the management and unpredictable net income of multifamily property.  I knew that the prospect wanted to simplify.  I knew that the prospect wanted to be able to hold me accountable throughout the listing.  I knew that communication was extremely important.

I then took that information and crafted a client-centric, customized, benefit driven presentation.  I explained how selling these properties could eliminate the hassle of tenant turnover, dealing with management companies, and fluctuating income.  I showed how a shift to Single Tenant Net Leased properties would essentially produce stable mailbox money.

I explained our commitment to transparency and accountability.  I showed how I could give the prospect 24/7 access to our activities through our cloud-based CRM system, ClientLook.  I promised our commitment to regular communication.  I won the listing over our competition at a higher fee.

If you haven’t figured it out, the secret to winning the business is the Needs-Analysis Interview.  There are many versions of this interview that you can find. I’m not going to plagiarize any of them here.  I am going to give you keys that must be present for this to work.

  1. You have to be authentic – People can tell when you are blowing smoke.  If they care about communication, and you promise it to them, you must be committed to delivering.  If not, they are going to tell all their colleagues.  In the story above, I discovered the prospects highest needs, and then fed them back in a custom listing presentation.  This only works if you are being authentic.
  2. You have to care – Discovering the needs of your prospect is all about putting their needs before your own.  It is about them.  It is about taking the time to craft from your capabilities the solution that meets their needs.  It is about making a difference in solving their problem or helping them capitalize on an opportunity.
  3. You must seek their pain points – You could also say that must understand the opportunity they are trying to seize.  Are they trying to simplify?  Are they trying to pass down a legacy of financial freedom and wealth?  Are they trying to get out from under a mountain of debt and stress that is wrecking their lives?  What is causing them pain.  Learn this and you will be able to earn the business.
  4. You must understand their highest interests – Is maximizing the value their highest interest?  Or is it speed?  How important is visibility to that tenant?  Will they give on price to get the lease term they want?  You can not go to battle for your clients if you don’t know what their desired outcome is.

So I challenge you.  The next opportunity you have at new business, stop.  Don’t go blazing in with your canned presentation.  Schedule the needs-analysis interview.  Let them explain to you how to win their business.  Learn to ask questions and listen, and watch your business explode.

I’d love to hear some stories of how you have used this secret to win business?  Or how do you plan to implement this into your business this year and beyond?  Comment below!

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