DGS 257: The 6 Leaks in Your Property Management Sales Pipeline
Description
A lot of the property managers we talk to who want to grow say the same thing, “I just need more leads.”
In this episode of the #DoorGrowShow, property management growth experts Jason and Sarah Hull discuss the 6 major leaks that property managers can have in their sales pipeline and why they don’t just “need more leads.”
You’ll Learn
[06:22 ] 1. Positioning
[10:14 ] 2. Perception
[11:19 ] 3. Presence
[15:30 ] 4. Pricing
[18:18 ] 5. Purpose
[20:24 ] 6. Pitch
Tweetables
“Does it make sense to turn on the hose full blast if there's all these leaks?”
“People want to work with a specialist. They don't want to turn over their biggest assets ever and their financial future to somebody that's dabbling in property management.”
“If your reviews are good, it backs up everything that you say in your sales pitch.”
“Are you clear on your personal motivations for why you have this business beyond just getting money?”
Resources
Transcript
[00:00:00 ] Jason: Get these things dialed in and shored up and what you'll find is: you may not need nearly as many leads.
[00:00:05 ] You won't have to spend nearly as much money on advertising or any money.
[00:00:12 ] Welcome DoorGrow property managers to the DoorGrow show. If you are a property management entrepreneur that wants to add doors, make a difference, increase revenue, help others, impact lives, and you are interested in growing in business and life, and you're open to doing things a bit differently than you are a DoorGrow property manager.
[00:00:32 ] DoorGrow property managers love the opportunities, daily variety, unique challenges, and freedom that property management brings. Many in real estate think you're crazy for doing it. You think they're crazy for not, because you realize that property management is the ultimate high trust gateway to real estate deals, relationships, and residual income.
[00:00:54 ] At DoorGrow, we are on a mission to transform property management business owners and their businesses. We want to transform the industry, eliminate the BS, build awareness, change perception, expand the market, and help the best property management entrepreneurs win. We're your hosts, property management growth experts, Jason and Sarah Hull, the owners of DoorGroww, and now let's get into the show.
[00:01:19 ] Sarah: We wore DoorGrow colors today.
[00:01:20 ] Jason: Oh, we did. For those
[00:01:22 ] that can see us. We're wearing DoorGrow colors. It's not on purpose. Yeah. Green and blue. All right.
[00:01:27 ] Sarah: I wanted something easy. It was like, let me get a comfortable dress that looks nice, but it's comfortable. Ladies know what I'm talking about.
[00:01:34 ] They're like, "yeah, those are awesome. That's this."
[00:01:37 ] Jason: Okay. It's good to know. So we were talking about what we should talk about today. And one of the things that I've been doing on sales calls in conversations with potential clients is taking them through a diagnosis and diagnosing the front end sales pipeline of their business.
[00:01:56 ] The challenge is a lot of people come to us that want to grow. We're called DoorGrow. So we certainly can help with that. We've been doing that for a long time. One of the things we've noticed though, is that a lot of times people think, "I just need more leads." They just think they need more leads. And some of you are just going to be listening to this, so I'm not going to do a drawing, I'm going to explain what I would usually draw, but I usually draw like a spigot, or a faucet, or whatever you call it, and a hose attached to this, and this long hose, and then a like a plant pot at the end of this hose that you're trying to water a little tree or something.
[00:02:30 ] And I usually put fruit on it because that's your business and you want to get something from it. Like you want it to bear fruit, like make you money or something. Right. And so we've got this tree we want to grow and we've got this pipeline. This is our sales pipeline, this hose. And we think we just need to turn on more water.
[00:02:46 ] Right. It seems to make sense. What I've realized though, over time is we used to do lead generation for property managers. Like that was like a offering that we had, a core offering that we had for our clients. So we would help them just turn on the hose, like full blast. We'd help them turn that on and they wouldn't be able to get business.
[00:03:05 ] They wouldn't be able to get enough water to grow their business. Like it wasn't working and it wasn't the leads. It wasn't the lead generation necessarily. It was the hose. They had like all these major leaks that were preventing it. So over time, I started to see like, they'd be like, "well, it's not working."
[00:03:19 ] I'm like, "well, you're not even answering your phone," or "you're waiting 24 hours before responding to a lead. And it's only good for like 15 minutes." And there was just all these leaks and problems. And there were some bigger, more macro level problems in their sales pipeline.
[00:03:32 ] Like their pricing was terrible, so it was off. Or their branding was off. And so people were like, "well, yeah, but they look like a real estate company," or their website was awful and it would send traffic to their website and it was just leaking money. And so the fluid, if you will, that flows through the pipeline.
[00:03:51 ] Is five currencies, time, energy, focus, cash, and effort. These are what you have to invest. And if you're shelling out a bunch of money, time, energy, focus, all of these things, right into the pipeline because you're just turning it on full blast, it's just going to leak out and you're just wasting all of that.
[00:04:09 ] You're wasting time. You're wasting money. You're wasting your energy. Right. And it, and a lot of businesses are like, "I just need more leads." So I call this the leads myth. And so we found it to be effective is to start looking at the business and if they come to us saying, "Hey, we want to grow."
[00:04:24 ] "Okay. How would you like us to help?" They're like, "we need more leads."
[00:04:27 ] "okay, you may need more leads, but first, does it make sense to turn on the hose full blast if there's all these leaks?"
[00:04:34 ] "What leaks?" Right?
[00:04:35 ] "Okay, well, let's take a look at your business and see if you have any of these." So we thought today we would get into some of these leaks so you can self assess and figure out, all right, how's my business doing?
[00:04:43 ] We're going to do the quick, super fast version of this. And I recommend you set up a longer call with our team so we can go through this. Okay?
[00:04:52 ] Sarah: Oh, or if you want the short, shorter version and you're like, "Hey, I want to see it. It's visual." then go to YouTube on our YouTube channel. We have a video that we created about this and our hose just died and like, I think it froze over the winter and we went to go turn it on and everything was leaking. So then we were like, "Oh, Well, before we throw the hose away let's make a video because this is what we talk about all the time."
[00:05:16 ] Yeah. So we did make a video. So if you want to visually see this and watch Jason get water everywhere and make a big mess, then watch a video.
[00:05:25 ] Jason: It's pretty goofy. So if you wanna laugh at me or make fun of me, that'd be a good one to watch. So just go to youtube.com/doorgrow and go to the playlists that we have and then go to funny videos and I'm sure you'll enjoy laughing at me and Sarah laugh at ourselves, especially.
[00:05:44 ] All right. So let's chat about this, these leaks. So these are some of the things that may be preventing you from closing as many deals, and you may have plenty of leads, but you may not be closing as many as you could be. And so these are some of the leaks. So, there's six major leaks that we focus on in our Rapid Revamp class, and if you're interested in this class where we help you shore up all of these leaks so that you can more easily grow more quickly without even changing whatever lead generation stuff that you're already doing or what's working, this will increase the output of what makes it through the hose and to grow your business Okay, so the first leak at the very beginning, and these are all blind spots the most businesses have is Positioning and so in positioning, we focus on the brand branding And so what are some of the things related to branding?
[00:06:37 ] Sarah: Well, the big one that we see a lot, and we did a video about this too is what is the name of your company? Is it something "real estate, realty, properties, investments, assets, solutions," things like that. So if any of those is how your brand name
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