Last week our COO, Bo Barron, conducted a powerful webinar on the 7 Deadly Sins of Prospecting and How to Avoid them. Unfortunately, I was unable to hear the live session – but I did catch the recording over the weekend. During the live session, Bo expanded on how one fast food chain exemplified one of the essential, core elements of effective prospecting. I will share with you how to retrieve the must watch recording shortly.
If you really want to differentiate yourself, and create a personal prospecting playbook that will help you secure more, high quality clients – consider attending our next live event, The Massimo Immersion. This ultra-exclusive, yet all-inclusive event will be held at Duke University on May 4 and 5. Click here to learn more!
To start, Bo asked the webinar attendees what fast food store they thought had the highest annual sales per store. The traditional answers were: McDonald’s, Subway, Wendy’s, and other popular choices – including the correct answer, Chick-fil-a. As it turns out, the second highest producing fast food company is Whataburger. They generate about $2.7 million sales per store, per year, whereas Chick-fil-a does over $5 million in sales per store. That’s almost double second place, and they are only open 6 days a week.
Now here’s the key to their success – Chick-fil-a has a massive differentiator. What do you think it is? Customer service and healthier food. By the way, Chick-fil-a pays their employees about fifteen cents more than the average.
So, they don’t really pay their people more, they just do an immense amount of training. When you walk into Chick-fil-a, you know people are going to be smiling at you, they’re going to be serving you, and you even have flowers on the tables. It’s a completely different experience. And when you go to Chick-fil-a, you leave feeling better about yourself. You are treated well, and you know you put healthier food in your body.
Let’s tie this back to you. In your business, what is your differentiator? What is the thing that stands out about you versus your competition? When you do make a prospecting call, do you say what pretty much every commercial real estate broker says, “Hey, Mr. Prospect, do you have anything you need to buy or sell? No? Okay, great. I’ll call you back in six months”. When you do that, you’re just another face in the crowd. No differentiator. You must have a differentiator, and you must be able to communicate that in a way that sounds valuable to the prospect in terms of them, not you.
To access a recording of The 7 Deadly Sins of Prospecting and How to Avoid Them, all you need to do is join the CRE Mastery Facebook group. The recording is uploaded there. This group consists of hundreds of dedicated, commercial real estate professionals across the country who share best practices.
If you really want to be prepared for your moment, and create a personal prospecting playbook that will help you secure more, high quality clients – consider attending our next live event, The Massimo Immersion. This ultra-exclusive, yet all-inclusive event will be held at Duke University on May 4 and 5. Click here to learn more!