In my first book, Commercial Real Estate Brokers Who Dominate, I shared the 8 traits of top producers. These traits are proven habits of successful commercial real estate folks, and most likely applicable to most successful sales or consulting professionals.
However, what foundation of success do these successful practitioners focus on? Each understands that everything starts with clarity in 3 fundamentals:
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1) Your value proposition
Why would a prospect elect to talk to, meet with, and ultimately engage in you? Not your firm, not your team, but with you. What is YOUR value proposition? Does it clearly articulate who you are, why you should be heard and how you can assist your prospect?
2) Your presence
It’s not who you know, but who knows you. Your reputation – how you are perceived, plus your character – who you really are. It’s a reflection of your value proposition and your ability to share that proposition amongst your friends, clients, prospects, affiliates and influences. Your presence is essential in the third element of your success.
3) Your prospecting
Who is your target audience and how are you leveraging both your value proposition and your presence initiatives with your prospecting efforts? Prospecting is the disciplined approach to asking for business. Let me repeat that. Prospecting is the disciplined approach to asking for business. Any attempt of asking for business without a strong value proposition and a solid market presence is nothing more than self-inflicted failure.
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At the Massimo Group, we consider the above 3 principles your “P-Factor”. In working with over 1,000 commercial real estate professionals over the last 8 years and tracking their individual efforts/metrics, we can empirically state that those with the highest “P-Factor” have the highest production.
We use this simply formula to reflect this P-Factor. P+P+P=P3.
Granted, mathematically, it is not accurate; however, combining a clearly articulated value proposition, with a strong market presence and a consistent, targeted prospecting campaign has an exponential impact on one’s production.
Here is the question you need to ask yourself – What is your P-Factor?
By the way, if you live in Florida, I would love to see you at our first public live event next month! Check out our Maximize Your CRE Income Roadshow schedule!