Guess who woke up full of passion, piss and vinegar?
Shiver me timbers, it’s GenuineChris. So, let’s talk 1.0, 2.0 and stuff.
NEVER did I say–or advocate–that it’s acceptable to burn through clients. You can AFFORD to when you have 1.0 skills. But it’s wasteful, stupid and inefficient. So, get this: I said I’ve been wasteful stupid and inefficient in the past. Who hasn’t? Who admits it? You find people to honor. To help, to serve.
NEVER do I say that you list anything, work with anyone. INITIATING a conversation doesn’t obligate you to take junk listings or work with mentally ill drama queens. You’re looking for the BEST AND MOST PROFITABLE people to sell to.
NEVER did I–or will I–say that “cold calling was the ONLY way that I generate business.” Fact is, I adovocate “deliberate connecting,” first, THEN cold calling. Connect with, and build a Brian Brady proof fence around EVERYONE that you know. EVERYONE that you interact with. (By the way, a Brian Brady proof fence would be a magnificent thing). Connect, DELIBERATELY. A call to your top 400 people once a quarter. That’s just: 133 calls/month. Or ~40 calls a week. Or ~8 calls a day. And it’s unobtrusive, and if you do it serving them…
…you’ll never starve.
Most people won’t even do that. I dig the drama, the tension, and that’s why I like honing myself as a “cold” caller. I do it to build my ability to connect with people as much as anything else. Fact is, I’m persistent, I’m Rocky Balboa. I get my face beat in but I keep coming back for another round. And the fact is, I call people, in roughly the order:
-People that know, like trust and seek me out: every 30 days. There are 45 people on this list. And I talk to them as often as I can, and I make it a point to honor all of them. Never forget the people that have helped. Be present and ready to give them a %%^& referral.
-People that know me and recognize me. Every 90 days, a CONVERSATION. Today? We’re at about 216 of these folks, but I need to scrub and clean my list. Probably will be at 250 or so. But we talk anyway. These people? What do you do? Add value to them. Give first. It’ll pay you back. Trust it. It might not come back from the person you put it into…but with the increasingly good BS detectors that your fellow citizens are armed with, you need something. Just like blogging pays you back if you do it to share, lead and help. Tell ’em about the market. Tell ’em about their website. Tell ’em about something inspiring. But CALL these folks every 90 days.
Then: people I want to know but are above my level. 5 a day. 25 a week. I have a list of 150 people I want to meet. I want to serve all of ’em. And one by one, I’m connecting, adding them to my Facebook.
People (maybe the ninety and nine) merely in my database. Once a year if they like me, once every six months if I don’t think they do. This is everything else. Every name, if I recognize it or if I don’t gets called.
After this, if (as is the case in JANUARY) my revenues are lower-than-intended. Call strangers, anyone. Stir the soup. Be ridiculous. Get it? OK. Stop withering like a ninny every time i say pick up the effing phone. No, I never, ever, ever said it’s the only thing to do. Come on.
It’s REALLY EASY to offer a convincing rebuttal when you don’t hold yourself to the standard of being sure that the other person actually took the position you’re bashing. Just don’t let your ‘cold call’ derangement rule the day.
Next Point: You are NUTS NUTS NUTS if you only have one way to get business. IN-sane.
K? Here’s the thing. ANY souce could dry up. Hell, with our nanny state, we could get a Do Not Connect list for social media. A national OpenID powered list of people that you’re not allowed to connect with. Who knows, could happen. What then? Blogging could become too hard to break into. What then? Any one source could dry up. My standard is that I need to support my expenses with three sources of business. I’m not currently there, FYI, but I’m not stopping till I am.
The standard that I want is this: AS MUCH gross referral business as possible, but no more than 40% of the total business from any one source. Why? Because I’m getting RICH when I keep myself on the streets getting new people. The folks that say, “I only deal by referral,” make me smile. “Good. I am glad you don’t have the stones to market.”
Now: social media–done right–builds a fence around people that you already know. So, some of your social media efforts in connecting Brian Brady-proof your list, and make it easier to connect with people.
So, if 40% comes from your list/referrals MARKETED TO DELIBERATELY…where’s the rest? Doesn’t matter provided that the ROI is right. But, for me, it’s about 15% blogging, 15% social media & 30% prospecting. I’ll be the first to say: I have what I think are the BEST sources of incoming people. But I don’t have enough sources. I need more. I probably think at least 7 wholly different sources are minimum.
OK, get it? Good. More to come, people, more to come. I gots to make me some calls to connect and help.
Lorraine X says:
Ok, I’m new to your blog and not meaning to sound out of it but what is a Brian Brady fence?
January 13, 2009 — 6:34 am
Brian Brady says:
“well, with our nanny state, we could get a Do Not Connect list for social media.”
Oh, no. Please don’t even THINK that; that would be devastating.
Chris, we’ve shared lots of ideas these past 2 years and I’ve always said that my social media “strategy” was simply a way to get around the “do not call” legislation. Call reluctance is a big problem in real estate and mortgage brokerage; social media marketing offers a fun and EFFECTIVE way to connect with people.
Perhaps you and I should start naming our similar strategies what they are; “systematic referral prospecting”
January 13, 2009 — 7:24 am
Chris Johnson says:
Remember Pailin Derrangement? Or the anti-hilary lunacy of the GOPers? That’s what I get when I talk prospecting. Self righteous bullshit from 40k a year people.
January 13, 2009 — 7:43 am
J Boyer Harding NJ says:
I think that there is a place for 1.0 and 2.0 strategies, and someone who manages to blend the 2 of them will do very well. The problem comes in when real estate agents try to use 2.0 strategies to try to avoid the rejections that you must get in order to get to the acceptance. I am guilty of it, and I am sure that the vast majority of the real estate agents and mortgage brokers out there using social media only are guilty as well.
I think I will be door knocking again this weekend. I try to be on every door step of every home in my farm at least once a quarter now.
January 13, 2009 — 8:02 am
Chris Johnson says:
@loraine A “Brian Brady” fence. Brian is, to other originators, a pest and nusiance. He wants ALL the business that exists.
To build a brian brady fence, you must connect with your people to the point where they don’t have ANY NEED to even listen to another originator. Know more than he does, do it better than he does., try harder than he does, care more, be kinder than he is.
It’s a hard thing to do, but if you’re not going to brian-proof your clients, they’ll wind up thanking HIM for the good experience.
January 13, 2009 — 8:37 am
Scott Cowan says:
Chris,
I have really enjoyed reading your last two posts. I had not heard of the “Brian Brady” fence before. Yet, after you explained it I knew exactly what you were talking about.
You’ve kicked me in the head and I am going out to knock on doors!
January 13, 2009 — 12:32 pm
Mark Green says:
Fantastic post Chris. Really enjoyed it.
January 13, 2009 — 2:53 pm
Robert Kerr says:
The word’s “arguments,” Chris, not “arguements.”
Only one “e.”
Glaring errors in the title detract from the content.
January 15, 2009 — 12:00 am
Chris Johnson says:
Ah, Robert.
http://blog.penelopetrunk.com/2008/04/04/writing-without-typos-is-totally-outdated/
Have some imagination, flexibility. While you’re dithering over my typos, I’ll be calling your clients.
But I did fix it.
January 15, 2009 — 6:17 am
Robert Kerr says:
Much better. And we don’t share clients, Chris.
January 15, 2009 — 8:51 pm
JB in SD says:
YA! Git yur durn spilin currekt. Cuz thaz wut matturs mose.
Great post Chris. I agree with quite a bit of what you’re saying.
I know I’m a bit late to this post but if you could answer a quick question for me it’d be appreciated.
Between blogging, social media, prospecting and marketing you have 100% of your business sources. If you want a minimum of seven streams, what are the other three?
January 16, 2009 — 12:41 pm
Jeffrey Nelson says:
Great post! Reinforces the basic formula that activity leads to productivity.
January 31, 2009 — 11:59 pm