Posted on: September 28, 2021
WIP 785 | Cold Calling

 

There are a few challenges you should be prepared to face as you build your real estate business because starting one is not for the faint of heart. It requires you to cold call dozens of leads every day, and 199 of the 200 people you call will curse you out or tell you that you will fail. However, once you overcome that fear and start to take action, success will follow.

 

Brent Daniels will discuss the importance of failing multiple times to build momentum and the common mistakes people make when their business is just starting out. Brent will also offer some words of wisdom to those who want to be successful in this game of numbers.

Wholesaling Quicktip – What You Need To Do To Win The Game Of Cold Calling

I have coached people throughout the whole country. I have looked at all the numbers of our business and this is something that you can sink your teeth into. This is a lot of data boiled down into a very simple little presentation. Two hundred contacts, that’s how many people you need to talk to. That’s how many distressed property owners you need to speak to. Out of that, you are going to get one deal.

From that, you have 180 people who are going to reject you. They are going to flat out, hang up on you, tell you, no, to get a real job, that you are the worst person ever, that they have had one million calls and you get twenty people that are like, “Maybe I would consider an offer on my property. Tell me a little bit more.” Out of that, 199 people are going to tell you no. You are going to fail 199 times to get that one deal. How does that make you feel?

This is the problem people have. You know what I hear from this every single day, nobody wants to sell. Everybody tells me this is the fifteenth call that they have had. Everybody is telling me that it’s a sellers’ market and they don’t want to sell, 199 of them will. This is if you are making the calls and having the conversations yourself. If you have a VA doing this number 800 to 1, you are failing 199 times to get that one deal.

WIP 785 | Cold Calling

Cold Calling: There are levels of failure that you have to go through so that you can build a strong, effective and long-lasting business.

 

The average used to be about $10,000. Now the average is $15,000 a deal. This takes you twenty hours to be able to do one deal. This is the mindset that we are talking about. This is the growth that depends on the activity. There are four levels of failure. This is what the superstars understand. These are the people that are doing an incredible amount of business understand.

I don’t care if you have no budget if you are an inexperienced business person and you are coming into real estate for the first time. There is a learning curve that you go through. There are levels of failure that you have to go through so that you can build a strong, effective and long-lasting business. The first one is your ability to fail. We all have this. Everybody can fail. If you try something, you can fail at it. That’s a fact but 80% avoid this. This is why 80% of the people start hiring VAs before they make a call to any distressed property owner. This is why 80% of the people will not take action.

If you think that there are so much competition and other things, everybody is trying to get a piece of the pie, and there’s not going to be enough for you, 80% of people won’t if you get past the first step of failure. The ability to fail. The second one is you accept that this is a product of progress. You understand and we hear that all the time that this is a numbers game, 199 people will tell you no out of 200.

Could you imagine asking out 200 people and 199 people will tell you, “I will not go on a date with you,” but one of them will? You would be like, “I am the ugliest person of all time. I’m terrible,” with that one person, that one deal. The beautiful thing about real estate is 20 hours, 200 contacts and $15,000. That’s what it is. That is the product of progress. That’s the second part.

If you want to fail, fail faster. Put your foot on the gas and have that confidence.

If you want to take it to the next level, you go faster, go more and go harder and harder. It is all about activity. Growth depends on the activity. If you want to fail, fail faster. Put in more time. Put your foot on the gas. Have that confidence. One hundred and ninety-nine people will tell you no. One person will tell you yes, $15,000. If I do that 40 hours a week, if I start building a business around the ability for people to tell me no, they don’t want to sell their house until I find the people that do, you are unstoppable. That’s the people that you see that are having successful businesses and then fail bigger.

“I want to make $10 million, $20 million or $40 million. You failed. You only made $25 million? Fail bigger.” It’s absolutely bananas. This is what stops everybody. This is the bubble and that force field that stops us. The ability to fail 199 times out of 200. What happens is you start making that $15,000 a deal and start increasing your amount of deals. All of a sudden, you are going to start making a lot of money.

You have a choice because here’s the trap. The trap of making a lot of money is from 1955. This is Parkinson’s Law. Northcote Parkinson was a writer in 1955. Among other things in this law, he says, “That no matter how much money people earn, they tend to spend the entire amount. Their expenses rise to meet the income.” This is what I want to challenge you with, you need to invest at least 20% of every single dollar that you make. You need to put that money to work for you and be the boss of the money that you make.

You start out making money. All of a sudden, your money starts making money for you. That’s when it starts going and the momentum is unstoppable. You need to take chips off the table when you are making money, at least 20%. You want to make it even more, invest even more. What happens is when our expenses rise to what our income, all the employees that could be working for you so that you don’t have to work, you are giving them to somebody else and they are working for them.

You had 199 people tell you no, that one person said, yes, you get that income in, and then you give all that back. You need to invest it for long-term wealth. That is what it is about. Parkinson’s Law is real. Our expenses rise to meet our income unless we take the chips off the table, let our money work for us and be the boss. We understand that money can be our employees out there working for us. If you are interested in joining the most proactive group in real estate investing, it is the TTP program. Go to WholesalingInc.com/ttp. Check out the hundreds of testimonials and what the program is about. If it feels good in your guts, then sign up for a call. I look forward to working with you personally.

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About Brent Daniels

Brent Daniels is a multi-million dollar wholesaler in Phoenix, Arizona… and the creator of “Talk To People” — a simple, low cost, and incredibly effective telephone marketing program…

Also known as “TTP”… it helps wholesalers do more, bigger, and more profitable deals by replacing traditional paid advertising (postcards, yellow letters, bandit signs, and PPC) with being proactive and taking action every single day!

Brent has personally coached over 1,000 wholesalers enrolled in his “Cold Calling Mastery” training, and helped 10,000’s of others who listen to him host the Wholesaling Inc. podcast, watch his YouTube channel, and attend his live events…

A natural leader, Brent combines his passion for helping others with his high energy, “don’t-wait-around-for-business” attitude to help you CRUSH your wholesaling goals as quickly and easily as possible!

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