"You cannot discover new oceans unless you have the courage to lose sight of the shore"
Most people lose sight of how truly simple any sales business is. They get caught up in chasing knowledge, always wanting to learn more so they can spout that information to the same 15-30 people they talk to every week. The key to exploding any business is getting out in the field and meeting people. It's all a mathimatical equation, or the law of averages.
Lets assume that in Real Estate for every 100 new people you meet you close just 1 transaction.
- Meet 5 new people a week it takes 20 weeks to close your 1 transaction.
- Meet 10 new people a week it takes 10 weeks to close your 1 transaction.
- Meet 20 new people a week it takes 5 weeks to close your 1 transaction.
- Meet 40 new people a week it takes 2.5 weeks to clos your 1 transaction.
- Meet 80 new people a week it takes 1.25 weeks to close your 1 transaction.
- Meet 125 new people a week it takes 4 days to close your 1 transaction.
I stopped at 125 people for a reason. There is an investment firm out there that part of their training of new advisors is to meet 125 new people per week. This in not a hello how are you, they actually have to meet people, get contact information to follow up and know learn something about these people. I also know you're probably not going to close a transaction in 4 days, it's possible but with how real estate works not likely. But what your business look like if you picked up a new listing every 4 days? How would your life change?
I can hear it now, "There's no way I can meet 125 new people a week." YES YOU CAN!!! It's a matter of if you're truely committed to meeting 125 people per week. These financial advisors don't get through the sales training unless they do it and when they start they make a lot less money that what agents or loan officers would make with the same commitment. Let me finish with a few questions:
What is it costing you by not meeting 125 new people every week?
If you're not meeting new people everyday, what are you afraid of?
Finally, what would happen if you closed 2% of new people you meet instead of 1%?