In Part 1 of Maximizing Your Income, I shared how to schedule your week, how to build a client retention and expansion program, and how to ask for referrals the right way.
In today’s Massimo Minute, we’re building on those ideas with 3 additional tips to grow your income.
1: Write your client testimonials.
Remember your testimonials are not for the client you just did a deal with. Your testimonials should provide information that will help your next prospect make a smart hiring decision.
Think about what your future prospects need to know before they hire you. Then, write the testimonial yourself and give it to your client to review and approve.
2: Know who you’re targeting this month.
Think about your ideal client avatar. Describe them in detail. It’s one thing to say, “I help private owners doing $1-3 million deals.” But if that’s how you see your clients, you’re probably seen as a commodity to your market.
You need to articulate who your ideal client is in terms of their history, where they’re going, and what challenges they’re facing right now.
Terry Moore, CCIM gave a great client avatar description during our last interview.
Terry’s ideal client is your old fashioned history teacher who got married, had kids, and bought a house (in that order). When they had more kids then rooms, they knew they needed a bigger home. But rather than selling their starter home, they decided to rent it out.
5 years later, their rental house became a duplex, then a fourplex, then an eightplex. Now, they are the richest person in their Census Tract, and no one understands how they’re spending 4 weeks a year in overseas travel.
In other words, Terry serves the millionaire-next-door, and his typical deal is between $1-3 million. He helps his clients trade their perfectly good apartments for some other perfectly good apartments.
He’s involved with helping people do face-to-face capitalism, and he works with the folks who know their tenants by name. That means he doesn’t serve Warren Buffet or Amazon. He serves the history teacher next door who no one knows is a millionaire, and he does most of his business across the kitchen table.
Like most top producers, when you listen to Terry talk about his ideal clients, you can hear how much he cares about them. This genuine care makes Terry an invaluable resource to his clients.
Take a look at your ideal client avatar, and ask yourself … Do they see me as an invaluable resource? Or am I just a commodity?
By the way, if you haven’t checked out Terry’s new book “Building Legacy Wealth”, I highly recommend it.
3: Create campaigns.
Create campaigns that show your prospects that you’re not just a commodity. Keep in mind, calling prospects is only 1 of the 8 parts that make up a complete prospecting campaign. Some aspects of your campaign are obvious — Of course, you should be leveraging social media, sending letters, etc.
But if you’re missing the other aspects of your prospecting playbook, then you’re leaving a ton of income on the table every single month.
Let’s move forward!