Archive for Homes
The Keys to Prospecting Success
Posted by: | CommentsEver notice how difficult it is to start a project? Then once you start it, it easily becomes a creature of habit. Take for example an exercise program. We keep putting it off but once we start, we ask ourselves, “why didn’t do this earlier?” We seem to have the same mindset with proactive prospecting. We continue to find excuses not to prospect even though we know how productive and the positive results that will come from it. So why is it that we will make every excuse in the world not to do it?
The key word is commitment. Commit to setting an appointment with yourself for one or two hours each day. Start with utilizing your resources such as your sphere of influence. It is easy to say to ourselves, “Well, I have a lot to do today so I’ll start prospecting tomorrow or next week”. Prospecting not only requires commitment but discipline as well. You are important so make that daily appointment with yourself just as you would will any potentially important customer or client.
Know ahead of time exactly what you are going to say or discuss when you call someone. It is good to have a specific message. Most people are very interested in market conditions for example. Maybe they have misunderstood something in the news or need further explaining. This is where you can become the “expert”, and provide them with a more accurate image of the situation.
Make as many contacts as possible. Before prospecting, you should always take the time to properly define your target market, and try to reach as many of those people as possible.
Be prepared with a list of names from your personal Sphere of Influence before you call. Not being prepared with a list of names will force you to devote much, if not all of your prospecting hour, to finding the names you need. Have at least a one month supply of names on hand at all times.
Work without interruption. Do not take calls or schedule meetings during your scheduled prospecting time. Take full advantage of the prospecting learning curveas with any repetitive task, the more often you repeat it during a contiguous block of time, the better you become. Prospecting is no exception to the rule. Your second call will be better than your first, your third better than the second, and so on.
Consider prospecting during off peak hours when conventional prospecting times don’t work. Some of your best work will be done between 8:00 AM and 9:00 AM, between 12:00 PM and 1:00 PM, and between 5:00 PM and 6:30 PM. Vary your call times. We are all creatures of habit. So are your prospects. In all likelihood, they are attending the same meeting each Monday at 10:00 AM (or whatever time you can’t seem to connect with them). If you cannot get through at this time, call this particular person in your sphere of influence at other times during the day or on other days.
Did you know that most success is made after the fifth call? Most sales people give up after the first call. Persistence is your best virtue.
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Are You Keeping In Touch With Your Clients?
Posted by: | CommentsTo some salespeople, follow-up means a call or two after the sale has been closed. It may come as a shock, but most don’t even do that much! Consider this: if salespeople stop at one post sale follow-up call, they are throwing away future business. Successful sales professionals and experts consistently tell us that not keeping in touch with your clients after the sale can have serious negative consequences.
The Eighty-Twenty Rule in sales usually signified 20% of the sales people did 80% of the business. This could also represent 80% of your business comes from 20% of your client resources. In other words, following up with your clients could generate 80% of your sales. This is true for repeat clients or referrals from these particular clients.
In real estate for example, we need to stay in touch with our buyers after the sale to find out if any problems exist. Remember, they will call you if there is a major problem, but won’t bother you with the “little” things, but it’s those little things that will prevent them from referring others or buying from you again. You will never know if any problems exist if you don’t stay in touch.
In any sales industry, no matter how small or large, following up after the sale is an absolute must. If one client knows 3 people, who know 3 people and so on, just imagine how important touching base with your sphere of influence could result in huge future profits. Take a step back and count the number of sales people who followed up with you after you purchased their product or service.
With advanced technology, there is no excuse for you NOT to reach out and touch your past clients. Some of the resources available for you to follow up with your clients are written thank you cards, birthday or anniversary cards, or periodic emails.
With today’s innovative ideas we can easily try to escape the phone call approach. This is probably more powerful than any other follow up technique and should not be forgotten. If it is available to you, then I would highly recommend incorporating this method in your follow up procedures. A few minutes of conversation will reconnect the rapport with your client.
We tend to get busy and lose focus on how crucial our past clients can keep our pipeline filled. There is something to be said for “follow up” if 80% of our business is generated from 20% of past clients and referrals.
Continual follow up with our sphere of influence will no doubt, increase our sale production. This in turn will help pave the road to success and financial freedom.
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Captivating the Power of Positive Thinking
Posted by: | CommentsThe philosophy of triumph in business are not any different than winning on the football field. Vince Lombardi of the Green Bay Packers, a Hall of Fame coach, had such a strong belief about winning, that many of his principles are practiced and taught in the business industry throughout the world.
Nearly forty years later and his coined phrases are taught in today’s business industry all over the world. His philosophy’s are quoted and are being taught in business, politics and sports. It is as pertinent today as it was forty years ago.
“It’s not whether you get knocked down, it’s whether you get up”- Life has many challenges and there will be times you will fail but don’t give up. No matter how many times you get knocked down, dust yourself off, get up and keep pushing forward. Out of respect for your peers always be early. Vince would say “be 10-15 minutes early or you are late”. If you can maintain punctuality, you will be taking one of the first steps to success.
If you are a business manager or team leader and demonstrate confidence, it will always shine through. Lombardi once said “Confidence is Contagious – So is lack of Confidence”. By exhibiting confidence and an up spirit will flow out to others around you. The same results will also occur if you lack confidence. Others will truly follow a manager or leader.
“Practice does not make PERFECT – Only PERFECT practice makes PERFECT”. If you are okay with just doing enough to get by, then the result will just get you by. If you don’t set your expectations higher and strive to be the best, then you are almost guaranteed you won’t be the best. This might not result in you being the best there is, but without question you will become ONE of the best!
Since the letter “S” comes before the letter “W”, the dictionary will be the ONLY place you find success before work. Practice, practice and practice. Hard work and determination will always reward you with success. Vice had a football play called the Lombardi Sweep. Other teams would know it was coming but their defense could never stop this play. “Perfect practice” and hard work will guarantee you success in life or on the football field.
If you are okay with being mediocre, then you will probably be mediocre. If your thought process is to just be “okay” then “okay” will become a habit. Lombardi said it best when quoted, “If winning isn’t EVERYTHING, then why do we keep score?” If your goals and aspirations aren’t to be the best, then you can probably plan on coming in second place.
Believe in yourself and believe in your peers or authorities. Be positive in life and live these ideologies and you will be part of the winning team.
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Any new business entity must have an established business plan as well as a concrete set of goals. Along with The Company Mission Statement, goal setting and planning are essential to the core of any business. Management and employees alike must be on the same page to insure continuity.
No matter how long you have been in business, you are always vulnerable to the changing economy. Always plan and set goals ahead to help overcome obstacles along the way. Be prepared and be ahead of the curve. This is a must if you want continued growth. Confronting “road blocks” will be much easier to overcome and lead you to the path of success.
With the housing market we have seen numerous agents fail and get out of the business. Their lack to plan ahead and set goals for the future caused them to spiral downward quickly. The old saying ‘to fail to plan is to plan to fail” could not be truer. Every real estate agent I’ve taught to set goals or plan their success has failed that has not taken these practices to heart. It does not matter how smart or intelligent or business-minded we are, if we don’t have goals we will fail. Here are some of the most common analogies I heard over the years from employees and business owners.
I don’t see how this can be so important! Remember to always plan ahead. If you don’t write your goals down, you are preparing for failure. Knowing subconsciously what needs to be done based on previous years is not good enough. Begin goal planning TODAY for the future or the path to the future will be almost impossible.
There are written goals and there are written goals. In other words, goals do not exist in thoughts only. They must be in writing. Talking to your employees about the plan for the company’s success will have no value to the employee. Providing your employees with visual goals will spark their interest even more for their future and the company’s.
GOALS ARE ALL YOU NEED TO BE SUCCESSFUL! If this were true, we never would have heard of Bill gates or Warren Buffet. Success in any business or profession is dependent on the implementation, supervision, and coordination of the written goals.
THERE’S NO NEED TO REVIEW MORE THAN ONCE A YEAR! This belief might have been true with some businesses in the past, but with the economic downturn and turmoil over the past several years, a revisiting of our written plan and goals makes sense more than once yearly. Adaptation and redirection could save the life of a company if properly sequenced.
Timing is so very important. There are still some tough times ahead. Making the changes necessary when the time is right will keep our company strong. This can only be accomplished through the awareness of our goals and planning. This will determine our future along the bumpy road ahead.
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Employee Accountability – When to Cut the Cord
Posted by: | CommentsWith the hard times facing our country, the last thing you want to think about is giving someone bad news. The decision to let someone go will no doubt have emotional and financial consequences.
Reasons for termination of employment are mixed throughout different areas of employment. The biggest cause for termination is usually a decline in work performance. Rules and regulations should be outlined and the employee should review this information from time to time to help safeguard the security of their position.
Commitment and loyalty to an employer goes a long way to keeping a job. Commitment coupled with a good work ethic usually goes hand in hand.
The manner in which you conduct yourself greatly affects your production and the production of those around you. A difficult or standoffish attitude tends to diminish overall team spirit. Negativity is not usually welcome in the workplace.
If it is a consistent practice for an employee to not show up for work or to be tardy, then these are clear indications to an employer that this person has a resentful, unwilling thought process. Again, not a characteristic of an ideal employee.
As a person managing others, it’s important to set reasonable expectations for those within your group. A company manual that outlines these expectations will be helpful to all concerned. Heading off the problem before it begins is a great start.
When faced with the challenge of letting someone go, be compassionate but assertive. Keep the conversation brief and preferable in private. Based on the employees job description, showing them production standards or examples of behaviors they needed to demonstrate are helpful in getting your point across. This of course is based on the assumption you have had previous discussions with this particular employee.
Although letting an employee go is not the most desirable responsibility for management, both parties can learn from this experience. Better training, more interaction with employees or simply changing your hiring criteria can make a huge difference for the company’s future success.
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