You don’t prospect enough. Maybe you are new to the business and fear holds you back. Maybe you are like me, and the fear of looking stupid holds you back. Regardless, you should be picking up the phone more. With our coaching clients at the Massimo Group, systematic prospecting is one of the pillars of the Massimo Methods.
I’ve shared this before, but when I left the Marine Corps in 2004 to work with my dad in commercial real estate, I was paralyzed when it came to prospecting. I would sit at my desk and stare at the phone – I had no clue what to say, and I had no idea of the directions a prospecting conversation could take. I couldn’t bear the idea that I would look stupid and fall on my face – I lacked confidence.
I was recently in Phoenix at a mastermind. I heard a man say that “Action unlocks greatness. Simplicity unlocks action.” That got me thinking: If we can understand the mindset of our prospects when we call, then we have the opportunity to address those mindsets quickly. Then we can prospect with more confidence. Any of us in sales of any kind, can prospect with more confidence by understanding these 4 mindsets of our prospects.
1. Your prospects are busy – Most people are these days. When you are able to connect with your prospect on the phone, you need to recognize that they have many things on their mind.
2. You are interrupting them – One moment your prospects were working away, now they are speaking with you. You have changed their direction. Because they are busy and you have interrupted them, it is in your best interest to honor their time and get right to the point.
3. They are wondering who the heck you are – Sometimes you are prospecting on someone you know. Often times, you are not. Given that you don’t know who you are calling, I promise the first question they have about you is who you are and what company you are with. You have to answer this unspoken question immediately.
4. They want to know what’s in it for them – As they are busy, have just been interrupted, and you’ve just shared with them who you are, you must quickly tell them what they will gain by having a conversation with you. Many CRE brokers make the mistake of vomiting their services all over their prospects. Do not. They do not care about what you can do, they only care about how your services can benefit them. Always speak in benefits statements, with short deal stories to substantiate your claims.
Knowing these mindsets is one thing – being able to use them to your advantage on a prospecting call is another.
All good thoughts. Cold calling is difficult at best. Another thing that goes through their mind is: How are you different than your competition? You better have a quick answer to that question or your services get reduced to a commodity, like a bushel of wheat. Commodities compete based on price. The low price bidder wins. So make sure they see you as uniquely qualified to provide them the expertise that you have that others do not.