Whether you're an entrepreneur or just an
independent contractor, guess what we all are. We're all sales people. So when somebody says, "I'm not a salesperson,
I'm an entrepreneur, they don't really understand the meaning of an entrepreneur. Every entrepreneur is a salesperson. So, I want you to today look at this from
the process of asking yourself which part of the sales process do I make a mistake in. Where is your leak in the sales process of
whatever your business may be, where is the leak that you have? Because for me, over the years, every single
time my sales would drop or I would see someone outdoing me, I would always ask myself where
in the process do I have a problem with. Where in the process is a challenge I have
that I have to figure out how to improve. Because in reality, improving in sales, sales
is really about discipline, and it's about details. If you are not disciplined, which means work
ethic, diligence, follow through, all that stuff, or you're not paying attention to the
details that we're about to get into right now, you're simply winging it. And you don't want to wing sales. A lot of people may disagree, sales is guaranteed
to work. Listen. When people tell me I didn't make it in sales,
I guarantee you lacked discipline, or you didn't pay attention to details and you don't
want to work that hard. Sales will work for anybody. I firmly believe that. Anybody, it will work. It's just that most people don't want to be
disciplined and most people don't pay attention to details. So let's get right into the sales process. So in sales, you'll typically hear no matter
what business you're in, you'll go through the flow of sales. Some say there's five steps, some say there's
six steps, seven steps, 10 steps, three steps. I'm explaining six steps here to you right
now. Step #1 is prospecting. #2 is approach and contact, three is presentation,
four is follow up, then it's referral, then it's maintaining your customer relationships. So let's get right through it, and you need
to ask yourself which of these areas you struggle with. So let's start off with the first one. The first one is what? Prospecting. So what is prospecting? So prospecting a lot of times, people will
think prospecting is going out there in the cold market and trying to get somebody to
buy a house from you and I'm going to meet them at a mall. Or prospecting is me going out there in the
cold market and trying to get somebody to buy my technology from me for their company. That's prospecting. No. Prospecting is multiple different ways of
prospecting. And I'm going to explain every single one
of these prospecting to you, extremely in depth. So you ask yourself which one you're very
good at. So think about it. First of all, there's really three different
types of people in the world of prospecting that you know. One is people you don't know, two is people
you do know, and three is people your people know. Again, people you don't know - cold market,
people you know, this is your warm market, three, people your people know, which for
me it's my favorite market because there's nothing like getting into this market. Now from the lowest to the highest, the lowest
percentage of conversion is people you don't know, then it's people your people know, then
it's people you know. Sometimes this is harder than this one by
the way, but stay with me here. So Pat, great, now I know what my market is. Excellent. So how do I now get a market. No problem. You've got to look at prospecting as a multiple
different ways of catching a fish. So you can't just have one way of doing it. You need to have multiple different nets out
there and one of them is generally going to work with you. Pick any product. I don't care what product it is. Pick any product you're selling. You can figure out ways to get into other
markets. How can you do that? One is social media, one outlet is social
media, and there's a lot of people doing that, you can do it on YouTube, Facebook, Twitter,
you can do sponsored posts, boost them, you can do Instagram posts and boost it, you can
do YouTube, Google Adwords, there's so many things you can do on social media. The other one on people you don't know is
networking events. You can go to networking events, especially
the area of networking events that's predicated to the market that you're mainly marketing. So whatever your networking event you want
to go to that people are there, I did a video on it last week -- what was the video called
that we did last week? It was called how to Charm Like Casanova. In that video how to charm like Casanova,
I talk about 18 different ways to master the art of networking. If you haven't watched that video, go watch
the video. It's one of the previous episodes. So how to become a better networker. One is networking events. Another one is going into cold market prospecting. You just meet people randomly and you approach
them and you have a script. Prospecting. Another one may be friendship farming; you're
turning strangers into friends. So I don't know John, but I keep going to
this restaurant and eventually John and I become best friends because we have lunch
at 12:00 and every day we talk sports. Six weeks from now we had four beers together
and I already know his life's story, his family, I just told him hey, what kind of business
are you in. That relationship went from being a cold relationship
to now warm, to now we went golfing together, we have a friendship now. Our wives have met each other, whatever. I know his kids, I've met his parents, I've
met his girlfriend, I met her boyfriend, we're good, we get along. There's a relationship there. So strangers into friends. That's a whole different video by itself. Then there is friendship, where people that
your people know. I love this part with referrals on prospecting
because I'm going to get back to referrals but on the prospecting side, on who my people
know, they make for the best prospects, on when I ask them specifically what kind of
clients I'm looking at. So then there's center of influence. What's center of influence? Center of influence for me in prospecting
is you taking the top 20 people you respect the most in your community. Make a list of it. Top 20 people you respect in your community,
make a list of it. Then you know what I want you to do? I want you to contact these 20 people and
ask them to go have a cup of coffee with you. What's the script sound like? Like this, hey, I really value the fact that
you're a successful entrepreneur and one day I'm planning on being someone like you. I would love to treat you to coffee one of
these days or lunch, when is a good time for us to go out? It's on me, I just want 30 minutes of your
time. No problem. Then you go, and you're simply building a
relationship. Eventually, three, six, 12 months later, you
give whatever you can to them, they're going to give back to you. How can I help you? They'll give you the contacts or relationship
that they have that could help you, right? And so then that needs to be maintained constantly. So there's many different ways to improve
in the prospecting side. Now let's continue because I'm going to come
back to prospecting. Approach and Contact -- what's approach and
contact? Well, one could be how you send your formal
email to somebody to follow up with them once you've got the info. So I've got the number, I got the phone number,
I got the email address, I got first name, last name, then what do I do? Step #2, I befriend them on LinkedIn. Then on LinkedIn I send them a message or
if I already have their email, I send them an email and I say, "hey, it was a pleasure
meeting you earlier today. I was impressed with . . . and I'd love for
us to schedule a time to visit and talk about . . . I think there's ways we can create a
synergistic relationship." Great. So that's the approach and contact, what is
that script that you have with this. Then there's a phone call script. What script do you have. I mean, I can tell you, I sold Bally's memberships
back in 1999, that was what, 17 years ago we're talking about. I know the script till today. Here's what the script sounded like. So somebody calls in and we'd call it a telephone
inquiry. They're put on hold and they would say line
one. You would pick up. Thank you for holding, how may I help you? Yes, I'm calling to get more information about
a gym. No problem. You called at a great time. By coming in today you can get started as
low as $5 down, and a monthly membership would only break down to be a six to eight dollars
a week. By the way, what are some of your fitness
goals? Are you trying to lose weight, tone up, or
increase energy? I want to increase energy. Are you currently working out at a gym? I'm not. What is your current routine? How far do you live from here? etc. etc. Let me give you a virtual tour of what our
gym looks like. That's exactly the script. And then we'd go into scheduling a time for
you to come in. It was a script. It worked. Now obviously most people say, I don't like
scripts. Look. My body and your body is made up of skeletons
that's generally the same. Okay. .You may have longer legs. You may have shorter legs. You may have bigger feet, smaller feet, you
may have bigger hands, smaller hands. Bigger torso, wider shoulders, smaller head,
bigger head, skinny, it doesn't matter. The skeleton is generally the same. It's the body and the skin outside that may
be a little bit different. You need a script and then from there you
can add your personality to it. But there needs to be a script. So do you have a script for your approach
and contact once you get this [the prospect]. Email, Facebook, LinkedIn, call. Do you have that? If you don't, that is a leak. You need to have that. #3: Presentation. So a lot of times believe it or not, out of
all these things, you know what's the one thing most people are very, very good at? Presentation. Why? It's the easiest one. Anybody can present. It's so easy to present. Oh, I know everything about our presentation,
but how come I'm not making a lot of money? Because this [presentation] doesn't make you
a lot of money. This doesn't make you money. This is very easy to do. This doesn't mean you don't need to be good
at this. This is very important, but it's the easiest
one to do. It ain't that hard to learn how to give the
presentation. So what are some leaks on presentations that
you'll generally see? Oh my gosh. If you catch yourself in a presentation, it's
a sit down with a business owner. It's a sit down with a client at the kitchen
table. It's a sit down with them coming to your office. It's a sit down with a product you're selling,
it's furniture, and they want to furnish their house. Whatever it is. If it's a lot of talk talk talk talk talk,
no one cares. You've lost them. Okay? I would watch people's presentations, carriers
would come and they would say, hey let me tell you about the history of our company. And I specifically said, look, I just want
you to know, you've been around since 1886, I'm very impressed, what are we going to do
here? Here's what we're looking for. No problem. So don't be the person that goes for 17 minutes
- you know, the history of our company.. . . 30 seconds? Maybe. Seven minutes? Too long. Brief. It's all about a good presenter is very good
at asking questions so tell me, what's important to you? What's important to them? What do you think about this? What do you think about that? How about this part? What do you think about that? What do you think about this? Is this important? How do you feel about it? How do they feel about it? How does your wife feel about it? How do your customers feel about it? Is that something that's important to you? Between 0-10, what would you say it is? It's questions that you're asking on the presentation. If it's too many statements without questions,
you're not a good presenter. A good presenter is somebody that's also asking
questions because you're getting to find out about who? Them. Sales is so simple. Sales is so easy. If you simply look at the customers as you. This is how I like to sell. I look at you as the customer and I ask myself,
if I were you, what would I buy and what would serve you if I'm you? And so I say, look, if I were you, I would
need this, this this based on this this this that you told me and I would need a little
bit of this, this this based on that that you told me. Even though you have this right now, you're
paying this much for it, but I don't think you have a need for it because you told me
this, this, this. So here's what I propose with you. I say we start with this, we start with this,
you can drop this, and that's good for starters and then 12 months from now, let's revisit
to see what we can do. What do you think about that? Great. Any questions? No. Let's get the paperwork started. Very simple, right? Presentation is questions and knowing your
craft, knowing your product and generally not BSing people when you don't know what
you're talking about. Next is follow up. Okay. Remember how I said two things is the reason
why people don't make money in sales? What was one of them? Discipline. Guess what this is? 100% discipline. This is nothing more than discipline. It's nothing more than discipline. I talked to you about the other D which was
what? Details. So why is discipline and details important
here? Well, details is very important because if
you're following up with me as a customer, and you don't remember our conversation's
details that we had the first time, it tells me you don't pay attention to things. You're just trying to get the money. Okay? But if you do have the discipline to follow
up, and you do remember the specific details of what I told you the first time you and
I had a seven minute conversation, I'm very impressed. You value my time, I'll do business with you,
because it's details and it's discipline. Make sense? So follow up, the biggest sales, the biggest
commission checks, the most profitable opportunities that I've had in my career as an entrepreneur,
typically happened after I reached out to the customer or the person I don't know, seven,
eight, nine, ten times. I mean, God knows how many times I reached
out to certain people before I made the sale because it was follow up. But here's what I did know. I had very simple scripts that I would use
when I'd leave a phone call. This is what my call would sound like. I would say, hey, John. Patrick, right now it's not a good time. I'm just really not interested right now. At this phase of my life. . . Perfect. There's two ways that I can react to that. I'm rejected or my other question is what? John, would you mind if I follow up with you
six months from now? Maybe somewhere around February. Would that be okay with you? You know what Patrick? That's not a problem. Excellent. Well listen, John, since I'm not going to
talk to you between now and then, Happy Halloween, Happy Thanksgiving, and Happy Holidays. And I'll talk to you in February. Hopefully before Valentine's Day so I'll be
able to wish you a Happy Valentine's Day. I like your attitude Patrick. Okay, take care, John, I'll talk to you in
February. Bye bye. Make a note, add details of what to bring
up - daughter, son, family, friends, etc. etc. You add the details. Then you call in February. In February if they don't pick up, here's
how I leave a message. John, this is Patrick giving you a call. Again, I haven't spoken to you since August,
Happy Halloween, Happy Thanksgiving, Happy Holidays, Happy New Year, and I'm hoping I
can wish you a Happy Valentine's Day, because it's a week away from now. But look, I know you had a thing going on
with your daughter in November, her wedding was coming up, I just wanted to call you. I'm sure you thought I forgot about you. I haven't forgotten about you. I'm looking forward to seeing if this is a
good time for us to do something. Something special has just come up with what
we're offering right now with our products. I'd love to tell you more about it. What's the best time for us to call? Here's my phone number again. . . But I left a message. Whether he calls me back or not, it's irrelevant. Discipline, details, he's impressed. Then I'm going to call him again, two to four
weeks later, until I get ahold of him. Then again if he tells me not interested -- John,
would you mind if I call you six months from now. Not at all, Patrick. Great. I will call you in August. So between now and then, guess what? . . . I know this sounds to some of you - -maybe
you listen to this and say, Oh my gosh, Pat, are you really like this? Yes, because this works. Sales is so easy. My gosh. This is absolutely -- I am amazed when some
people are not making a quarter million dollars a year selling. This is the easiest thing you'll ever do. But the details and discipline is really what
it's all about. So follow up. Next, referrals. What's referrals? So a lot of times, think about it this way. A lot of times in sports, you ever seen when
one of these guys shoots the basket like a Nick Young. I don't know if you know who Nick Young is. He played for the Lakers. I don't know why the Lakers ever signed him. It's because there was nobody on the league
for them to sign. But they signed Nick Young. Okay. So he's got a decent shot. So there's this one time in the game, he shoots
the three pointer and he turns around like this and was walking away, that he's so confident,
and guess what? It didn't go in. He looked like a fool. It was an ESPN highlight. If you go on YouTube and type in "Nick Young,
missed three pointer turned around" you'll see the video. It's so embarrassing. Some sales people are like that. They go in and they close the deal. I got the signature. Everything, man, this was so cool, and they
walk out and they forget. Man, you just made two thousand dollars. And there's like $100,000 here [at referrals]. What are you doing? stay. Relax. Don't celebrate. The game's not over yet. You've still got to play defense. Referrals is what keeps you in business. That's your defense. So I've got to figure out a way to get referrals. So then the next leak is referrals. How many referrals do you average per client,
how do you ask for referrals? What is your referral script? Do you have a referral script? When do you ask it? Do you prepare them or do you all of a sudden
say, "Surprise! I want referrals!" Or do you say in your presentation, "John,
I hope you understand the way I make my living, I don't work for a salary. I simply make a living based on referrals. So referrals is my main source of keeping
me in business and I hope that I earned your trust to the point where you're comfortable
maybe later on we meet or later on in the presentation if you feel good about what I
have to offer to you, you're comfortable giving me referrals, right, if it makes sense. Yeah, of course, sure. You agree. No problem. Boom. Then at that presentation I say, hey, do you
remember when I told you earlier last time we were together that my business is purely
on referrals and I said if it made sense and obviously we're doing business together so
who do you know that. . . and you ask for referrals. Piece of cake. But don't be a Nick Young shooting a three-pointer. Come back around and play defense; you're
about to lose the game. Defense wins championships. Come back. Then the Broncs won a championship last year,
not because Peyton Manning was having his best season. They won because their defense was one of
the greatest ever. Referrals. Now the last one. What's the last one? Man, the last one is so important. Man, the last one is so important. But it's boring. So let me explain to you why it's boring. Okay. So think about it this way. And I'm going to use this analogy because
it's effective. You know, a lot of times, we want new things. We want a new girlfriend. It's kind of cool, man, a new girlfriend,
a new boyfriend, a new new, new, new -- everything is new. I want a new. . . and then, what we don't
realize is the most powerful things that have ever been built, we want a new industry, new
product to sell, it's so exciting. The most powerful people in the world -- sales
people, business people, leaders, influential, they generally chose one route and they stuck
to it. And they maintained the industry, that relationship. So maintaining your customer relationship,
this is when you go into saint status, type of figure. If you know how to maintain relationships. What do I mean by maintaining relationships? To me, you know, I love to maintain people
that stay with me for a very long time. A strong team is very important to me. So my job is to make sure the company is doing
very good. My job is to make sure that the environment
is a great environment. My job is to make sure that everybody's growing,
we're developing, and I'm outgrowing everybody because I'm leading them at the front. My job is to make sure there's an edge going
on and we're competing, we're growing, everyone's coming up with ideas. Why? Because I want to maintain relationship with
my home office, with my carriers, with my vendors, with my following, with you. I mean, we want to have an edge because we
want to build a YouTube channel, we believe pound for pound we can go against anybody
on YouTube. You see a lot of channels on YouTube that
are purely motivation, motivation, motivation, regurgitating, regurgitating, regurgitating,
regurgitating, same message over and over and over again. People finally say, look, you keep saying
the same thing. We don't want to be that channel. We want to have a million subs on YouTube
because we have plans of what we want to do to influence people around the world to make
a decision to realize happiness is linked to being an entrepreneur. Because you create, you're part of a community,
and it's just kind of cool to have some kind of an ownership of what you're doing. There's a certain sense of excitement that
comes from that. So I want to help more people become entrepreneurs. Whatever you're doing, this [maintain customer
relationship] is what matters. You matter to me. You're important to me. I listen to you. I got an email, I got a letter here, I get
gifts all the time, and if I talked about the amount of gifts that I get, I'd be here
for a long time, but I get a lot of people that also say Patrick, I want to take you
out to lunch, I want to take you out to coffee. I don't have time to say that to everybody. I'm grateful for the messages -- don't get
me wrong. But I just don't have the time to do any of
that stuff right now. I've got three kids, my traveling is hectic,
I'm running a company, we've got a lot of things going on. But I was very impressed with this letter
I got from an attorney from New York. And I'll read it to you and I'll give him
some love with his first name and then I'll tell you the approach he took. This, to me is impressive. This is the prime example. We get fan mail all the time. All the time. We get people that stop by and visit and they'll
say, "Pat, I'm in town, you have to say yes, I just want to meet you for five minutes and
shake your hand; great. They'll come up, we'll shake hands, as long
as nothing is too creepy, great, we'll meet them. We get some random strange things that happen
here, and we've got a lot of guards and all that stuff to make sure we're protected. But I was so impressed by this letter. And so, he's an attorney out of New York,
John. I will give you love, John, and you know who
you are. It's a law firm out of New York, Astoria,
New York is where he's at. So John, if you're watching this, you know
exactly what this is. I want to read it to you. I want to read you his letter, and he's got
two cigars here for me, and this is not a regular cigar. He sent me a nice, I want to say it's Fuentes,
I think it is. Yes, Fuentes. Yeah, it's a Fuentes cigar, okay, good. So it's a decent cigar, nice cigar. Thank you, John. Here's how the letter sounds like. I have been watching your YouTube channel
for a few weeks. And yes, I subscribed. [Thank you for the sub.] I've infrequently watched various speakers
over the years and they were simply there. You, however, were presented and you made
me present. You were able to grab my attention and hold
it. It was so much your words or your plethora
of books on the wall, but it was your energy, and your voice isn't annoying - family consensus. [Well I appreciate your family consensus. Apparently somebody said the other day, "I
can't listen to his voice, he sounds like a porn star." Which I've never been called a porn star before
for my voice. I don't even know what a porn star sounds
like, but apparently I have that voice. Okay, don't get distracted, I want to continue
with the letter. And then he says. . .] I now mostly watch your videos with my
wife and children. As you, I work with my wife, and I believe
we equally share the belief that we aren't simply parents, but responsible for assuring
our children are leaders and not cattle. Towards that end in addition to other books,
I make sure that my eldest child, 10-years-old, reads certain books so that he may have the
opportunity to understand at an early age trials and tribulations that he will face
in life as he journeys to fulfill his dreams, instilling in him -- I hope -- the belief
that he can accomplish his goals through helping others providing them, emphasizing that others
will perceive, must perceive the value or there is none. A few books that he's read that I recommend
are the following books: Dr. Seuss or Bob Berg [ a good book, the Go
Giver], The Alchemist by Paulo Coelho. What books would you recommend. What prompted this correspondence was your
video on how to work with family. I watched it online with my family and found
myself thinking about it the next day. I share your belief and practice as well with
my wife. But near the end where you discuss how you
would handle your children at the workplace or potential business venture resonated and
impacted upon me, your dedication and discipline. Your content offers value to our family and
as a small token [listen to this, watch this] and as a small token of my appreciation, I
offer an open invitation any time you're in New York City to join me for fresh squeezed
juice. [He's a regular watcher so he knows right
now I've lost 17 pounds.] Since you don't drink coffee [I don't drink
coffee], lunch or dinner would be fine. Perhaps you can challenge me to find a great
spot for liver. [Interesting. John, if you like liver, man, we've got to
go some Mediterranean place. I just got to tell them how to make it.] I am enclosing two cigars. One for each of us, hoping you will save them
until we have our encounter. I would enjoy the opportunity to meet. [signature] The enclosed cigars are short,
not because I want to limit our time together but because I value your time." Listen, man, John, I've got to tell you. I mean, you are pretty much an example of
how to do this part [referral and maintain customer relationship]. You know, this is class. I like this. I want to give John some love. So John, if you want to disclose that it's
you with your last name, you can comment on the bottom. It's all good with me. If you don't, I'm giving you love for what
you did. I'm impressed by that. That tells me he probably treats his customers
that way, and he maintains customer relationships. See, the world of business -- and an attorney
is a salesperson, because you're selling people. A CPA is a salesperson. An accountant is a sales. . . a dentist, a great dentist that makes
a lot of money, I know solid dentists in L.A. who make 2-300 grand a month. But they're sales people. I went the other day and I was test driving
a Lamborghini. The guy comes with a Porsche and he bought
a brand new Aventador and I said, Hey, what do you do? And he said, "I'm a dentist." How do you make 200 grand a month as a dentist? Well he makes 200 grand a month because he's
a businessman and a salesperson, on getting other people's business. But I guarantee you there's some of this [maintain
customer relationships] going on. Without this, you aren't going to go to the
top. Very simple. Because they talk to one another. You've got to learn how to treat them very
good. So again, as you look at this, people often
ask me, "Well, Pat, based on your opinion, which one do you think is the most important?" Well let me tell you which one without it,
nothing exists. If you don't do this [prospecting], kiss it
goodbye. You know what's crazy? What's crazy is, some of you who are watching
this, you are incredible at this [presenting through maintaining], but you are so frightened
of this [prospecting]. Because of that, you'll never make it big,
unless you face your fears here [prospecting] and start doing this and this [prospecting
and approach and contact]. Because you know where the money's at? The money's here [prospecting and approach
and contact.] You know where the guarantee is at? Here [follow up, referral, maintain]. This guarantees you. This [presentation] means nothing. Very little. It means some, but not the most. This [prospecting and approach and contact]
is what's most important. Any time, I always tell people, if your phone
doesn't run out of batteries twice a day, you aren't working hard enough. Your phone's got to run out of batteries twice
a day. Not because you're playing -- tell me some
of the games people play on the phone, Michaelangelo - Angry Birds, Pokemon, Clash of Clans. Some of these things that people play, right? Okay? Your phone should be running out of batteries
twice a day because you're making 200 calls a day. Okay. If you're a rookie entrepreneur, and you're
not making 200 calls a day, you're not really hungry. You're just kind of winging it. You're hoping this thing works out for you,
and you get lucky. There's a guaranteed formula to this. So with that being said, one, if you've got
any questions or comments about this, comment on the bottom. Two, if you haven't subscribed to the channel,
Michaelangelo, throw me my favorite pillow, I need your help! I need you to subscribe. Help us get to 100,000. Share our content with other people you know. We've been growing very fast. That last couple of months our YouTube channel
has, which is quite exciting. But our goal is to get to a million. Our short-term goal is to get to 100,000 subs,
on entrepreneurs to learn more about content here. Again, subscribe if you haven't. And then what else? If you watch this video on a completely different
website, you can always go back to PatrickBetDavid.com and get all the content we offer for entrepreneurship. With that being said, thank you so much for
watching. Take care. Bye bye.
