Episode 177: Real Estate Financing Mastery: Advanced Strategies from Jay Conner and Shawn Rhodes

*** Guest Appearance

Credits to:

https://www.youtube.com/@bulletproofselling660 

“Interview with Jay Conner on Bulletproof Selling”

https://www.youtube.com/watch?v=NeNL5xrROfU 

 

In the world of real estate investing, raising private money can be pivotal to fueling your business growth. Similarly, in any sales-related field, understanding and speaking your prospect’s language can determine the success of your endeavors. In a recent episode of the Bulletproof Selling podcast, hosts Jay Conner and Shawn Rhodes delve into these compelling topics, offering valuable insights from their experiences. Jay shares his journey of achieving a whopping $8.5 million in private funding and teaches how understanding your prospects can transform your sales strategy.

 

Jay Conner’s Journey: From Mobile Homes to Private Money Maestro

Jay Conner, raised in the mobile home business, transitioned into single-family houses in 2003. Initially relying on local banks for funding, Jay faced a significant setback during the financial crisis in 2009 when his credit lines were severed. This period of adversity led him to discover the power of private money lending. Jay soon realized that individual investors could fund real estate deals using their investment capital or retirement funds, setting him free from the dependency on traditional banking institutions.

 

The Private Money Approach

Jay has never had to ask for a sale directly or pitch a deal. His strategy revolves around educating potential private lenders about the benefits of private money lending. By wearing his “private money teacher hat” and addressing people’s unawareness, Jay was able to build trust and attract funding without the need for hard selling. His unique approach ensures that he serves his prospective lenders by improving their financial situation, which in turn attracts the funds he needs for his real estate ventures.

 

Understanding and Speaking Your Prospect’s Language

Shawn Rhodes emphasizes the importance of understanding your prospect’s language to sideline hope-based sales tactics. Many salespeople mistakenly assume that their prospects fully understand the intricacies of their offerings. This misconception often leads to failed communication and lost opportunities.

 

Jay and Shawn highlight key steps to better connect with prospects:

 

Research and Practice: The Cornerstones of Effective Communication

Jay advises starting with comprehensive research to understand who your prospect is and what language they speak. By joining mastermind groups and engaging with successful peers, salespeople can gather insights into effective communication strategies. Jay underscores the importance of practicing these conversations before approaching actual prospects. In his own field, he recommends speaking to out-of-state property owners first to practice scripts and build confidence.

 

Recording and Reviewing Calls

Recording calls is another effective strategy endorsed by Jay and Shawn. By using apps that allow you to record conversations, salespeople can later review their calls to identify what went well and what needs improvement. It’s crucial to reflect on the recorded interactions and consistently seek feedback from mentors or more experienced professionals to refine the approach.

 

Metrics and Conversion Rates

Measurement is a fundamental aspect of improvement. Jay advises tracking conversions to understand the effectiveness of your communication strategies. By comparing the number of calls made before and after receiving feedback, salespeople can gauge improvements in their conversion rates. This practice allows for a dynamic approach to sales, enabling continual adjustments based on measured outcomes.

 

Serving with a Servant’s Heart

Both Jay and Shawn emphasize leading with a servant’s heart. Sales should not merely be about pushing a product but rather about offering real value to your prospects. By focusing on how you can solve their problems and improve their lives, you build trust and establish long-term relationships. Jay’s success in raising $8.5 million in private funding without once asking for money is a testament to the power of leading with service and education.

 

Conclusion

The insights shared by Jay Conner and Shawn Rhodes highlight transformative strategies for raising private money and mastering sales communication. Understanding your prospect’s language and serving them with educational value can significantly impact your success, whether in real estate investing or any sales-oriented field. By practicing, recording, measuring, and continually refining your approach, you can move away from hope-based strategies to build a more effective and fulfilling business.

 

10 Lessons Discussed in this Episode:

 

  1. Understanding Private Money

Learn the fundamentals of private money, what it entails, and why it can be a game-changer for real estate investors looking to fund deals.

 

  1. Benefits of Educating Investors

Discover the power of education in attracting investors. Find out how providing valuable insights can help secure funds without the need for direct financial asks.

 

  1. Importance of Servant Leadership

Understand the concept of leading with a servant’s heart. Learn how focusing on serving others can significantly improve your sales and client relationships.

 

  1. Identifying Your Ideal Customer

Gain actionable advice on how to identify your ideal customer profile before actively engaging in the sales process to ensure better success rates.

 

  1. Practicing Effective Sales Calls

Effective sales calls start with practice. Discover techniques for practicing your sales calls to refine your approach and boost your confidence.

 

  1. Recording and Reviewing Calls

Learn how to record your sales calls and the best practices for reviewing them. Understand the process to identify areas for improvement.

 

  1. Seeking Constructive Feedback

Learn the importance of seeking feedback from experienced professionals. Discover how constructive criticism can refine your sales techniques and improve your performance.

  1. Tracking Sales Metrics

Understand the key performance indicators you should be tracking. Learn how monitoring these metrics can help measure your success and make necessary adjustments.

 

  1. Leveraging Mastermind Groups

Discover the numerous benefits of joining mastermind groups. Learn how these groups can accelerate your learning and success by offering diverse perspectives and expert advice.

 

  1. Removing Jargon from Communication

Enhance your sales effectiveness by eliminating industry jargon. Learn to communicate in simple, clear terms that your prospects can easily understand, thereby building better relationships.

 

Fun facts that were revealed in the episode: 

 

  1. Jay Conner has impressively raised over $8,500,000 in private money for real estate deals and achieved this without ever directly asking anyone for money, which is quite unique in the real estate investment world.

 

  1. Jay’s father, Wallace Conner, is a remarkable figure at 91 and a half years old, and currently, he is in the middle of building out a massive 350-home development, showcasing remarkable energy and dedication at his age.

 

  1. Jay grew up in the mobile home business and humorously refers to mobile homes as “trailers” and “wobbly boxes.” This background laid the foundation for his successful career in real estate investing.

 

Timestamps:

00:01 – Raising Private Money Without Asking For It

04:36 – Switched from relying on banks to private lending.

08:21 – Effective communication is crucial for successful sales.

10:43 – Seek mentorship to improve your sales performance.

14:04 – Prepare, surround, and draw from diverse industries.

17:17 – Practice calls for real estate investor sales.

22:19 – Seek feedback, take action, and measure progress.

24:12 – Measure improvement by tracking calls and conversions.

27:04 – Jay Conner’s free Money Guide: https://www.JayConner.com/MoneyGuide 

 

Connect With Jay Conner: 

Private Money Academy Conference: 

https://www.JaysLiveEvent.com

Free Report:

https://www.jayconner.com/MoneyReport

Join the Private Money Academy: 

https://www.JayConner.com/trial/

Have you read Jay’s new book: Where to Get The Money Now?

It is available FREE (all you pay is the shipping and handling) at https://www.JayConner.com/Book 

What is Private Money? Real Estate Investing with Jay Conner

http://www.JayConner.com/MoneyPodcast 

Jay Conner is a proven real estate investment leader. Without using his own money or credit, Jay maximizes creative methods to buy and sell properties with profits averaging $67,000 per deal.

#RealEstate #RealEstateInvesting #RealEstateInvestingForBeginners #Foreclosures #FlippingHouses #PrivateMoney #RaisingPrivateMoney #JayConner

YouTube Channel

https://www.youtube.com/c/RealEstateInvestingWithJayConner 

Apple Podcast:

https://podcasts.apple.com/us/podcast/private-money-academy-real-estate-investing-with-jay/id1377723034 

Facebook:

https://www.facebook.com/jay.conner.marketing  

Twitter:

https://twitter.com/JayConner01

Pinterest:

https://www.pinterest.com/JConner_PrivateMoneyAuthority

Real Estate Financing Mastery: Advanced Strategies from Jay Conner and Shawn Rhodes

 

Narrator [00:00:01]:

If you’re a real estate investor and are wondering how to raise and leverage private money to make more profit on every deal, then you’re in the right place. On raising private money, we’ll speak with new and seasoned investors to dissect their deals and extract the best tips and strategies to help you get the money because the money comes first. Now here’s your host, Jay Conner.

 

Shawn Rhodes [00:00:34]:

Hi, everyone, and welcome back to another episode of Bulletproof Selling. My name is Sean Rhodes. I’m the chief sales sergeant here at Bulletproof Selling and author of the book Bulletproof Selling, a guide for systemizing sales on the battlefield of business. Here at Bulletproof Selling, our mission, and our mantra has been since day 1 that hope is not a sales strategy. And whether you are selling a product, a service, an idea, or an initiative, chances are hope is entering the picture a little more than you’d want it to. It didn’t work for the folks that I was able to travel and fight alongside on battlefields around the world, didn’t work for the marines, the navy steels, the green berets, didn’t work for the air force per rescue people out there, it’s not probably gonna work for you. So if you’re in business, if you’re in sales, you’re responsible for two things, really. It’s not just selling.

 

Shawn Rhodes [00:01:17]:

That’s responsibility number 1. You’re also responsible for serving. So if for no other reason you know, increasing revenue is always good, getting that bigger bonus, getting that bigger quota is always good, but we’re really here to teach you how to serve more. And so since day 1, we’ve been bringing on guests, folks that are hall of fame speakers, best-selling authors, folks that have helped salespeople around the world remove hope from how they operate. We identify where our guest sees salespeople falling back on hope more than they should, and we build a system on every single show to help you address that very issue that you can use. As soon as you get off air with me, you’re gonna hit your computer. You’re gonna hit your laptop. You’re gonna hit your client list.

 

Shawn Rhodes [00:01:57]:

And you’re gonna make sure you’re using that system. And you’ll be able to use it no matter the size of your team or the size of your goals. Now when it comes to sales, it’s a transaction. It’s an exchange. You’re exchanging time. You’re exchanging resources. You’re exchanging value. And one thing that usually ends up happening in that, where hope enters the picture in a lot of ways is the assumptions that that salesperson shows up with.

 

Shawn Rhodes [00:02:21]:

We assume that prospect or that customer understands why we’re calling them, understands the value that we have to give, and understands their world. Well, that’s an assumption that often causes us to fail. It’s a hope that we bring into the picture. So our guest today is gonna help us unpack that, help us deconstruct it. And this gentleman understands the power of what it takes to produce value and raise it for other people. He has helped thousands of folks raise money for their business endeavors, and he’s personally raised over $8,500,000 himself. So without further ado, to help us unpack this issue, it’s my pleasure to welcome to the show Jay Conner. Welcome, sir, to Bulletproof Selling.

 

Jay Conner [00:03:00]:

Hello there, Sean. Thank you so much for inviting me to come along and talk about how hope is not a strategy. I love that byline. And I loved it when you came here on the introduction when you talked about, we’re here to talk about serving people and not leading with this sales thing in your head. That’s what it all comes down to leading with a servant’s heart. I can’t wait to dive in with you.

 

Shawn Rhodes [00:03:24]:

It’s gonna be some fun, man. So I wanna know your your background briefly. $8,500,000 you personally raised, but it’s probably to the tune of 100 of 1,000,000 for all the people that you’ve been able to help along your career path. What do you do and who do you do it for?

 

Jay Conner [00:03:40]:

Yes. Well, thank you, Sean. Well, my wife, Carol Joy, and I live here in Eastern North Carolina, and I was raised in the mobile home business. Trailers, wobbly boxes is what they used to call it. But anyway, that’s the business I was raised in with my father. He’s 91a half years old, but he’ll make sure you know about the 91a half. Wallace Conner had the largest, retailing company of mobile homes in the nation at one time. And he’s right now in the middle of a 350-home development that he’s building out right now.

 

Jay Conner [00:04:11]:

So when I grow up, I wanna be like my dad Wallace Conner. Anyway, after we got out of the mobile home business, I knew a family got out of that. I wanted to get into single-family houses. So in 2003, 2003, Carol, Joe, and I started up our real estate investing business focusing on single-family houses. Now we’ve done other real estate. We’ve built a shopping center from the ground up. We’ve done townhomes. We’ve done condominiums.

 

Jay Conner [00:04:36]:

But our focus has been single-family houses. Well, Sean, the very first 6 years that we were in the business here in our small market, I relied on local banks to fund our deals. That’s all I knew to do was go to the bank, get on my hands and knees, put my hands underneath my chin, and say, please fund my deal and raise my skirt so they can look at my personal assets and everything about myself. And then he just says, yay or nay or whatever. Well, that worked fine for 6 years of funding our real estate deals. But then January 2009, along with the rest of the world and the financial debacle, I lost my lines of credit to the bank. Well, God’s way, of delivering what I wanted was, I love the definition of coincidence, God’s way of staying anonymous. I learned within a week of losing my lines of credit at the bank, I learned about private money, private lending, how individuals can actually loan money out from their investment capital and their retirement funds, and fund real estate and investor deals.

 

Jay Conner [00:05:39]:

So since February 2009, I have been working with private lenders, and individuals, to fund our deals. Then in 2011, I started working with other real estate investors on how to raise money. I love your show. Hope is not a strategy. But you know, here’s what’s interesting. Here’s what’s interesting. We hear in sales training all the time, you gotta ask for the sale. You gotta ask for the sale.

 

Jay Conner [00:06:06]:

You know what’s interesting, Sean? I got an $8 and a half $1,000,000 in private money funding from real estate investors. I got 47 private lenders funding our deals. Not one of them not one of them had ever heard of private money or private lending or how they could use their retirement funds until I did something. I put on my private money teacher hat, and I started teaching these people what private money is and how they can earn high rates of return to save securely. I just said a second ago, all of us here in Salesforce, you gotta ask for the sale. You know what’s funny, Sean? Not one time have I ever asked anybody from Hunter. And so I get the question with them, well, Jay, how do you have 8 and a half $1,000,000 and you never ask them for money? In addition to that, I’ve never pitched a deal. And I said, Jay, how do you get people to fund your deals, and you never ask them to fund your deal? It’s really simple.

 

Jay Conner [00:07:02]:

We leave with education. We leave with education. And when you’re serving them and showing people how you can make their lives so much better, guess what? The money’s chasing you instead of you chasing the money. You know, whenever I’m talking with somebody and I ever feel like I’m actually starting to sell or starting to persuade, I pull back. Nobody wants to feel that. You’re feeling it. They’re feeling it. It’s all about serving and showing how you can make an impact in their lives.

 

Shawn Rhodes [00:07:32]:

And so with all the folks, you’ve been able to train then, you know, hundreds of people that you’ve taught to do this in business, where do you find them falling back on hope? Is it hoping that you know, the person they’re talking to understands it enough that they don’t have to ask for the sale? Where does hope enter the picture? Picture?

 

Jay Conner [00:07:48]:

Well, in regards to this subject of hope, you already say it on your show all the time. Hope is not a strategy. But what do you have to do? You’ve got to deliver hope. You’ve got to deliver hope to your prospective person that you’re going to be doing the exchange with. How do you deliver hope to them? Well, first of all, there are two answers to that. You can’t deliver hope and a solution to somebody else. First of all, you gotta have your head on straight. You gotta have the right mindset, which is all about this servant’s heart.

 

Jay Conner [00:08:21]:

But along with that, you’ve got to be a really, really, good communicator from the standpoint you got to understand your prospect’s language. You have to understand where they are coming from. One of the biggest mistakes that I see new people and it doesn’t matter what kind of sales you’re in with you are raising private money for real estate or whatever it is that you’re offering. One of the biggest mistakes I see is talking jargon, talking industry insider stuff. We know, like you know, in real estate investing, we talk about arve all the time. Well, nobody knows what arve is unless you tell them, which means after-repaired value. We’re talking about mayo all the time. Well, nobody knows what mayo is.

 

Jay Conner [00:09:05]:

Well, mayo is the maximum allowable offering. And, you know, with your military background, Sean, I mean, you all got everywhere. Yeah. I got you something that nobody understands. So in answer to your question, before communicating with a prospect, you really want to understand you really wanna speak in a language that a 6th grader, maybe a 3rd grader level can understand, and don’t use jargon.

 

Shawn Rhodes [00:09:35]:

So if if I’m a salesperson and I think I might be having this problem, how is it gonna manifest for me? Is it just gonna be longer sales cycles? Is it gonna be, you know, more struggles getting that second meeting? How do I know I’m suffering from this? Because this is something that I think a lot of salespeople may be encountering, but it’s tough to see the forest for the trees. Because I understand what I’m selling. I understand the value. But if I don’t, you know, get you to, understand it too, then we don’t have a relationship. 

 

Shawn Rhodes [00:10:00]:

We, you know, don’t have a way to do business. So how do I know I’m suffering from this as a salesperson?

 

Jay Conner [00:10:04]:

Well, that’s a great question. Here’s why. If you are a salesperson and you don’t have somebody that’s a lot better than you listening to your conversation, how in the world are you going to know you’re screwing up? You don’t think you’re doing a fantastic job even though your sales suck and you’re not getting conversions. Right? So first of all, get out of the blame, shame, and justification process. Right? A lot of people are walking around, you know, saying, hey, well, you know, it’s not my fault. You know, you’re blaming somebody. What’s the economy? It’s the economy. You know, everybody’s broke.

 

Jay Conner [00:10:43]:

You know? You know, when I need a solution to my problem, the first thing I ask myself is, Jay, what did you do to attract this into your life? What did you do? Right? So in answer to your question, how’s somebody gonna know if their sales are suffering? Well, you need to get somebody either through, through hiring them, or whatever. You need to get yourself a mentor. If you’re at, particularly if you are doing sales over the telephone, somebody that’s like better than you needs to be listening to those conversations, or record your calls. I’ll tell you one of the best ways to critique your call, record your calls, and play it back and listen to yourself. Boy, is that gonna be painful the very first time. But you don’t know what you sound like until you actually listen to yourself.

 

Shawn Rhodes [00:11:39]:

That’s true. It’s absolutely true. And that’s something that we’ve been advocating for a long time here at Bulletproof selling. I think we’re gonna actually end up diving into that a little later on in the show, but, I wanna build a system to help salespeople better understand and speak their prospects’ language. Because like you said, the the result of doing this is I actually don’t have to ask them for the sale. Through education, through showing them that I understand their challenges, it’s a lot easier for us to establish a trusting relationship and for them to understand themselves. Oh, this person can probably help me. So in in the military, every time we built a new system for our operations, helped us trim more hope away from our strategy so that we could accomplish our mission, and bring everybody back home alive.

 

Shawn Rhodes [00:12:17]:

In sales, every new system helps us trim hope away as well. So we use this acronym, TRIM. You mentioned acronyms. Only a simple one, TRIM. It’s an easy one to remember. The t in TRIM is the trigger. So if I’m a salesperson and I wanna start better understanding my prospect’s language, when do I trigger this system for myself? Is it before I get on a call with them? Is it way earlier than that when I’m trying to figure out who my ICP actually is? When would you recommend as a salesperson I pull this one off the shelf and begin using it?

 

Jay Conner [00:12:45]:

Before you talk to anybody.

 

Narrator [00:12:48]:

That’s fine.

 

Jay Conner [00:12:50]:

Don’t do trial and error to figure out who your customer is. I mean, you need to you need to know actually who that is. So how in the world do you figure out who your customer is? Well, I tell you one of the most, the biggest values I’ve gotten, Sean, is I surround myself with other people who have already been successful in my industry. One of the biggest benefits that I have gotten, Shawn, is joining mastermind groups. I don’t care what mastermind groups. I don’t care what industry you’re in. For all I know, Sean, you got a mastermind group. And if you do, then your list if you do have a mastermind group, then your listeners should join your mastermind group because it’s in that mastermind group that you’re gonna learn from other people. 

 

Jay Conner [00:13:26]:

Actually, you know, how to identify who your avatar is, the industry. So, I mean, one of the biggest mistakes new people make is they try to do business on their own out on an island somewhere, figuratively speaking. So don’t start don’t start in business like I did. I didn’t even get a coach or a mentor until I was in this thing for 6 years. And then I did. And I thought to myself, oh my word. What if I had gotten a coach or a mentor in business before before I started? How much money would I have saved? How much money did I lose? Right? So to answer your question, you wanna you wanna know this stuff before you even start. You know? Even scripting, even phrases you use. Right? Get help, get surround yourself with other people. And you but I said in the industry, that’s not necessarily 100% correct. I love surrounding myself with other masterminds that I’m in, where people are in different industries because they are in sales. They’re in sales, in different industries. And so you don’t have to self-pollinate yourself with all the time, only around other people in your industry because everybody in the industry, they’re the really good ones, like, sort of doing it the same way. So when you surround yourself with a mastermind group that has other industry, members in it, now you can draw from those other industry principles that you can use in your own industry.

 

Shawn Rhodes [00:15:07]:

Love it. Love it. So if that’s our trigger then, and we’ll move to the orange trim, which is making this a repeatable process. The military was big on checklists. That way we can learn a checklist and be able to actually respond to the environment when it changes. So if I’m a salesperson and I wanna better understand my prospect’s language, I’ve done the research. I’ve gotten myself surrounded by people in my industry. What are those maybe 4 or 5 steps you would ask a salesperson to consistently go through to make sure they’re speaking their prospect’s language?

 

Jay Conner [00:15:35]:

Practice. Practice. Practice. But I’ll give you I’ll give you an example from my industry in real estate investing. So in today’s market, and for many years, most of our real estate deals have not come from listings in the multiple listing service. I’m not a realtor on purpose. I’ve had the same realtor on my team though for 19 years. And so most of our deals come from what we call FSBOs, another acronym, for sale by owners.

 

Jay Conner [00:16:03]:

People who own properties that don’t have their homes listed, with a realtor. So since we’re gonna be talking to those for sale by owners over the phone initially, how do we practice? How do we get, like, really good? I mean, we got the script. We know what to say. How can I practice and get rid of the fear of screwing up? Which by the way, how do you really get good at something? You screw it up really well. That’s how you get good at it.

 

Jay Conner [00:16:32]:

You just screw it up really well and take action regardless. Right? So I’m gonna give you an example in our industries of how we get really good at screwing it up before we go live with real prospects. So what do we do? We practice so here’s the challenge when you’re if you’re listening to this show. The challenge is, well, I’m getting ready to tell you how can you apply it to your industry and your situation. So what do we do? We go on the for sale by owner Internet websites, and we call up for sale by owners that have listed their properties in other states, in other areas, not in our area where we’re buying. And, hey. Look. They got their home for sale to start with.

 

Jay Conner [00:17:17]:

It’s not like you’re cold calling. Somebody, you know? I was getting ready to get out of the phone book. We don’t have phone books anymore. But you know what I mean? It’s like you’re calling them up, and now you’re you’re practicing your script with a seller of a house that you’re not gonna buy. But now you’re I tell news real estate investors, in my industry, you wanna make at least 50 of those calls. And no, I don’t mean 50 calls and 75% of them didn’t answer. I’m talking 50 conversations, 50 conversations with actual live people who have got their house for sale. And you talk to them, and you get the information, and you build rapport, and you get comfortable, and you ask trial closing questions, and you practice clarifying questions and all that kind of stuff that bulletproof selling teaches you.

 

Jay Conner [00:18:12]:

And then after you’ve had those 50 conversations, now you start calling your local market.

 

Shawn Rhodes [00:18:19]:

Okay. So we have my 50 conversations that are I don’t wanna call them throwaways because you are learning really valuable things on those conversations. But then step 2 begins I need to start calling my local market. And what are some things that I can monitor on my calls or listen to after the fact that tell me I’m speaking my prospect’s language?

 

Jay Conner [00:18:38]:

I’m sorry. Ask that question again.

 

Shawn Rhodes [00:18:40]:

Yes, sir. So, now I’m I’m into my local market. I’m talking to people that are actually prospects for me. I can sell to them. If they said yes today, we we begin to make a deal. How can I monitor my conversations or listen to them after the fact to make sure that I am indeed speaking my prospect’s language?

 

Jay Conner [00:18:57]:

Oh, yes. So there’s an app, and forgive me. It is it escapes my mind right now. I actually have it, among my 50 apps that are on my phone. But there’s an app. You can Google it. You can Google it. Google app app app for recording calls.

 

Jay Conner [00:19:13]:

App for recording calls. And, so what you do is you go inside the app on your smartphone, and you make your outbound call from that app. And then the app within your smartphone will automatically record the call.

 

Shawn Rhodes [00:19:32]:

And so if I recorded the call, then what am I listening for?

 

Jay Conner [00:19:34]:

And then and then you’re gonna go back and listen to that. Right? And there are 2 questions you’re gonna answer as you’re listening to that call. What went well? What did not go well? What can I do better next time? It’s actually 3 questions. What can I do better next time? By the way, here’s a side note, write or down or write or down or which ties in, Shawn, to your leading with a servant’s heart belief in philosophy. And that is, it’s not about reaping. This whole world of selling is not about reaping. It’s all about sowing. Sowing, sowing, sowing.

 

Jay Conner [00:20:12]:

It’s all about sowing, it’s not about reaping. What do I mean by that? It’s all about giving value. It’s all about giving value. So why am I here on this show? My audience typically is real estate investors. The majority of the people here listening to this show probably are not real estate investors, But you know what? One of my heroes was Zig Ziglar. And I don’t know if Sean I was gonna say Sean is not old enough to remember Zig Ziglar. I got to meet him twice in person. Wow.

 

Jay Conner [00:20:43]:

What an amazing human being. But, you know, of course, we all know what Zig said. Essentially, he said, you don’t know that people get what they want. You don’t have to worry about yourself. But that’s what Zig, the pot pan salesman, preached for decades. And that is, so give value, give value, give value. Because you know what goes around comes around.

 

Shawn Rhodes [00:21:07]:

I love it. So I’m listening to what went well, what didn’t, and what can I do better. Now is there something that I should be doing after the fact? So I’ve hung up the phone. Maybe I’ve even listened to my call. Is there anything else I can do? Because I there probably is, which is why I wanna ask you to make sure that I’m speaking the prospect’s language and that I’m getting better on my next calls.

 

Jay Conner [00:21:25]:

Well, sort of like what we said a few minutes ago. Share 3 of those recordings with someone else who is better than you. And, you know, one of my favorite phrases, when I’m talking with people, and this is a great question to ask when you’re not looking to sell anything, and that is tell people I need your help. I mean, God created us to help other people, quite frankly. That’s why we’re on this planet to help other people. And so I’m just calling and saying, look, man, I need your help. I know you’re doing a great job. You’re very successful in your sales and your success, and I need your help.

 

Jay Conner [00:22:07]:

Would you do me a favor and listen to 3 of my phone calls and give me your feedback as to how I can improve? Because I’m all about wanting to improve.

 

Shawn Rhodes [00:22:19]:

Awesome. And you’ve actually, moved right into the I and trim, which is improving. That’s something that we had to do in the military to make sure we were staying up to date with the ever-changing environment. So giving your three calls to somebody better than you, asking for their feedback, and, of course, taking action on it, making sure there’s a change, is a great way to improve. But now the final bit might be a little more difficult for us.  I think you’re gonna handle it flawlessly, though. The m and trim are to measure. I wanna know that the time I’m taking to do this, to record my calls, to get feedback from other people who are better than me, then it’s better than what I was doing before when I was winging it when I was making a bunch of calls and wondering why the economy was bad, why people aren’t picking up the phone.

 

Shawn Rhodes [00:22:57]:

So what am I gonna measure to make sure that I am speaking my prospect’s language? Is it just gonna be more sales? Is it gonna be a better engagement? You know, more show up, for my next meeting? You know, no one’s ghosting me anymore. What are the things I should be measuring?

 

Jay Conner [00:23:11]:

It all comes down to conversions. You know, one thing we track and all businesses track is what’s your cost per lead? What’s your cost per lead? That’s important to know. Like in my business, I use Facebook ads. I use 4 different companies for Google pay per lead. I use outbound callers. I use postcard campaigns. I use direct mail letters to people facing foreclosure. I’ve got all these different funnels and channels, and I know what my cost per lead is when each one of those comes in.

 

Jay Conner [00:23:41]:

But you know what? That’s not the most important metric. The most important metric. The most important is another acronym, KPI. Right?

 

Shawn Rhodes [00:23:51]:

Yeah.

 

Jay Conner [00:23:51]:

The most important thing to track is how much you spend in either time or money or calls to get a sale. Right? How much time do you spend? So, hopefully, you’re, you’ve been, and you know, if you can’t, I mean, you’ve said this all the time, Sean, If you can’t measure it, you can’t improve it.

 

Jay Conner [00:24:12]:

If you can’t measure it, you can’t improve it. So how are you gonna measure your improvement? Well, here’s one way you can do it that I recommend. Before you started asking for help from people to give you feedback on your calls, how many calls did you have to make? And if you don’t know this, then for goodness sake, start tracking it now. How many calls, how many people did you have to talk to and how many times did you have to talk to them before it converted into a sale? Now you’ve got that staff. Now you’re getting feedback from someone else who’s better than you. Now the next 10 people that you talk to, are your conversions any better? Or are they converting quicker, versus, you know, how many times you had to talk to them before? So what were the before conversions? What were the after conversions after you got the feedback and the advice?

 

Shawn Rhodes [00:25:10]:

That’s awesome. That’s a great way to measure, not just gross sales, but how much better am I doing in the leading indicators now that I’m implementing the advice of people who are better than me. So, Jay, that’s an end-to-end system to make sure that we’re speaking the prospect’s language, serving more, selling more, and, of course, building better relationships along the way. For anybody out there who’s interested in what you do and making sure that one of the best-appreciating assets in the world is part of your portfolio. How do people get in touch with you? Is there a website they can go to to learn more about what you’re doing?

 

Jay Conner [00:25:43]:

Absolutely, Sean. In fact, I just have started doing, and this is brand new, I’ve just started doing 7-day private money challenges. 7-day private money challenges. And it’s like, you know, I’m engaging right there. It’s and it’s only 15 to 20 minutes per day of of each video, you know, training that I’m doing. So anybody listening here to the show, if you want to come into my world and see how we’re getting a bunch of money raised without ever asking anybody for money, then come join me at www. Private money challenge.com. Private money challenge.com.

 

Jay Conner [00:26:22]:

I promise you we’re gonna have a lot of fun.

 

Shawn Rhodes [00:26:28]:

I’ve had a lot of fun with you on this show, sir, already, so I can promise that anything you have going on is gonna be educational, and informative, and I have no doubt the servant’s heart is part of your business model as well. For anybody watching us on YouTube right now, make sure you hit the subscribe button. For everybody catching the podcast on iTunes, Stitcher, or Spotify, anywhere the podcast can be found, leave a review and let other folks know that hope no longer has to be part of their strategy. With the insights of folks like Jay, we can make sure that we’re out there selling more and serving more. Jay, thanks for showing up today, and giving back to the sales community. Let’s go out there and make selling bulletproof.

 

Jay Conner [00:27:01]:

Thank you, Sean. God bless you.

 

Narrator [00:27:04]:

Are you feeling inspired by the knowledge you gained in this episode? Then head over to www.JayConner.com/MoneyGuide.  That’s www.JayConner.com/MoneyGuide  and download your free guide that shares seven reasons why private money will skyrocket your real estate investing business right now. Again, that’s www.JayConner.com/MoneyGuide  to get your free guide. We’ll see you next time on raising private money with Jay Conner.