Property Management Growth with DoorGrow DGS 197: The Benefits Of Having A Pitch Deck For Your Property Management Business
Do you use a pitch deck when you're selling to potential property management clients? If not, you might be missing out on more deals than you realize…
Join property management growth expert Jason Hull as he dives into the reason why property management entrepreneurs should have a pitch deck/visual aid when selling to potential clients.
You'll Learn…
[01:53] Why use a visual aid?
[06:49] What needs to be in a pitch deck?
[08:32] Creating a visual roadmap for clients
[11:52] 10 tips for creating a pitch deck
[17:09] More tips for sales in property management
Tweetables
"Businesses can't grow unless you're working on them instead of just in them."
"Now, in using visual aids, like in a pitch deck, having things that people can see, it will definitely help you increase your close rates"
"You offer a really great service and you solve their problem, and if they don't understand that, they need to be educated on that."
"Your product really is your business. It's not property management. Your product really is your team. It's your service. It's your philosophy. It's your values as a company."
Resources
Transcript[00:00:00] It doesn't matter if you're selling to somebody and they just forget everything instantly. And so if they can retain the information that you share and they learn, that education that you give them during the sales process increases the likelihood that they're going to work with you.
[00:00:15] Welcome Doorgrow Hackers to the DoorGrowShow. 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, then you are a DoorGrow Hacker. DoorGrow Hackers 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. 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. I'm your host, property management growth expert, Jason Hull, the founder, and CEO of DoorGrow.
[00:01:12] Now let's get into the show. So at the time of this recording, we are in kind of the no man's land in between Christmas and New Year's. This time period I see a lot of entrepreneurs put their head down and they get a little bit bored and they start to focus on working on their business sometimes for the first time in a long time because there's a lot of business owners. A lot of y'all are working in your business constantly, and you're not working on your business, and businesses can't grow unless you're working on them instead of just in them, right? I call that strategic time instead of just daily tactical time doing the work. So today's topic that I wanted to talk about... I've been working with my sales team on helping to create better visual materials. So one thing that I've noticed is I've started using an app called Notability, and I draw a lot on my iPad with my Apple pencil and I've been doing a lot of drawings in educating, teaching clients, and I just notice that at the end of our group coaching calls and stuff, I have way less questions. There's much higher retention rate, people absorb the information better, and it's really helped me to understand the power in visuals. Not only that, but we've bought into several high ticket programs and masterminds, and I've noticed that some of the ones that we closed very easily with, they had a very nice pitch deck.
[00:02:44] And so I wanted to share an idea with all of you that you should have a pitch deck for your property management business in selling. This is something that I coach clients on, and so I wanted to just touch on, kind of sell you on the idea of having a pitch deck. Now, I know, ironically, I do not have a pitch deck to show you right now to sell you on the idea of having a pitch deck. That would be really cool, right? But this is a podcast, so not everybody is going to see anything anyway.
[00:03:17] But I'm going to go over some topics and if you saw my previous episode on ChatGBT, I actually had ChatGBT do some of the research for me. So AI helped me create this podcast episode. So one of the things that makes Pitch Decks really effective is there's this power in visual storytelling. Visuals help convey complex ideas really quickly. They help people get the idea and see it and absorb it a lot faster. Not only that, but it's engaging and it gives somebody something they can remember in association with it. So I think also with having something like that, you know, if it's designed even marginally well, it doesn't have to be amazing, but it helps build credibility and it shows a better first impression that you've thought through some of these concepts. So, I share frameworks, but I like to share them in a visual way so that people can absorb and learn these frameworks. We use these during our sales pitch, during the sales process.
[00:04:19] Now, in using visual aids, like in a pitch deck, having things that people can see, it will definitely help you increase your close rates because if people are absorbing information faster and if people can see the information and they're visual learners and they're not just auditory learners, then they'll be able to absorb it a lot more quickly. And some people are kinesthetic learners. They have to kind of see and feel. And so visuals help them to kind of imagine how these things could work, especially if you're using sort of visual analogies or pictures that involve people touching, doing, acting right? For those kinesthetic learners out there. I mentioned that retention is a lot higher, so it doesn't matter if you're selling to somebody and they just forget everything instantly. And so if they can retain the information that you share and they learn that education that you give them during the sales process increases the likelihood that they're going to work with you because the only reason they would not work with you is because they aren't educated enough, right? Because you offer a really great service and you solve their problem. And if they don't understand that, they need to be educated on that.
[00:05:30] So let's talk about the benefits of having a pitch deck, right? So, we talked about how it can visually help showcase the value proposition of your product or service. The pitch deck also can help the sales team if you have a sales team. This helps them to actually sell the way that you would want them to. It helps keep them on track during a presentation, and it helps them be more organized. It creates consistency because-- how many of you have created a sales script. Many of you probably don't have one, which really sucks, but how many of you created a sales script and then you listen to a call and your team don't follow it? And so the visuals kind of force them to go down a similar path to what you would want them to. And you can build the script into the pitch deck. If they're doing it digitally, they can be the notes on the slides. And so they have to talk about what they're showing visually, right? Pitch deck also can help establish and build credibility and it is kind of set you as a leader in your space because a lot of your competition probably don't have one.
[00:06:31] I'll be honest, like most property managers' sales process is just hope somebody calles in and then just wing it and answer whatever questions they have, and hopefully, maybe they'll want to sign up, and that's like really ridiculous, right? It's not a very effective sales strategy. So we teach a lot more effective ways of building a sales process through multiple interactions, spread out over time, and using effective language, how to deal with objections and building the ultimate pitch using our golden bridge for phase selling and et cetera. So you want to build this out to be really effective. The pitch deck also can help your sales team anticipate and address the objections or questions from potential customers. So the pitch deck that I'm building out right now for my sales team has all of the most common objections and the ways to deal with those objections built into it. Now, they don't have to use every slide, like if they went through and used every slide that we have that I've put in the pitch deck and talked about them all and shared every framework, it'd probably be like a two hour conversation. It'd be really long. They don't need to. One of the early slides in the pitch deck is to triage and identify what their challenges are, and then later we have slides to deal with those challenges. You don't need to talk about anything else, right? You don't need to talk about stuff that you can solve for them that they're not dealing with if they're potential client, they care about the problems they have, right? And so that is another tool or another way that a pitch check can help is that it can help address objections or these questions and get them thinking about how you can help them solve this. Pitch deck can also help future pace people, so you can showcase a roadmap or a path that includes you in the future, and really this is why people work with you, is they imagine a different future than they've been experiencing in the present or in the past.
[00:08:32] They imagine there's a different outcome or a different result in the future that includes you and it allows you to visually showcase here's the journey that you're going to go on. Which is why it's important to have maybe a roadmap or a journey. And if you haven't seen our roadmap for property managers, which is the DoorGrow Code, we've cracked the code on the process for growing and scaling your business from zero to a thousand plus doors in a relatively short period of time, and this roadmap it creates a lot of clarity for our clients and for our potential clients very quickly. They can see, oh, this is the problem I should be working on instead of this, and here's where I'm at and here's what I need to do to get to the next level. So they don't waste a lot of time doing the wrong stuff. Right? If you set up a call with our team, you'll definitely see that this is how we triage clients now. It's how we help them see the future of how we can help them. So the pitch deck also will help the, your sales team-- or yourself if you're selling-- persuade the potential customers because it'll highlight the key features, benefits of the product and service. You can showcase these. So if it's property management, you can showcase in your pitch deck through your slides, like the benefits of using a property manager over what other alternate vehicles they might have been thinking about doing, like doing it themselves or getting their realtor to do it, or whatever, right?
[00:09:55] A pitch deck also can help your sales team close deals, by providing a clear call to action, and then outlining what happens after that, right? So you can have a clear call to action, which one of the biggest challenges I've noticed with sales teams is that they just don't ask. They don't go for the close. So you build that in and they will ask every time. And you need to ask for the close-- I teach my sales team-- you need to ask for the close, even if you know they won't do it yet , but because it brings out the objections. It allows those objections to come out or come to the foreground. It kind of shakes the gold out of the dirt, so to speak. It allows you to see the real objections in what you need to deal with, and if you don't ask, a lot of times you don't get to the objection, and she's like, "well, do you think you might do this?" "Yeah, maybe." "Cool, okay, well, you know, I'll follow up with you after you've taken a look at some things." "Okay." right. That's not very effective. But if you say, "Hey, is there anything that would prevent you from signing up or getting started with us today?" And, you know, "are you ready to do this?" They're going to say yes or no. They might say yes, right? And they might say, "well, no, I need to do this." Or you'll hear some typical objections like, "well, I need to talk to my spouse first, or I need, you know, I need to get the funds together," or whatever it might be. They're going to bring up some sort of objection. "Well, I'm working on this with the property first and I need to do this." Okay, cool. So now you know what the objection is, and you can say, "well, we can help you with that thing," or "We solve that problem, by the way," or "that's included" or "here's why you probably don't want to go down that path and do that. Instead, have us do this," right? So you can now solve that objection that's preventing them from signing up with you right now.
[00:11:43] All right. So let's talk about some things to include in a good pitch deck. So this is what ChatGPT says. So here's some ideas, right? So it should have a clear and compelling value proposition. This should be the main focus of the pitch deck and should be communicated in a way that resonates with the audience, right? There needs to be value, right? How is this going to benefit me? Is what your prospect's thinking. Number two, a strong visual design. Use clean professional design elements to make the pitch deck visually appealing and easy to follow. You want it to be very visual, not text heavy. That's PowerPoint. Death by PowerPoint is you just include everything that you're going to say text-wise and then it's really annoying. It's almost insulting. You're like, "well, I'm going to read you what's on the screen right now." right? You don't want to do that. Use visuals that back up what you're going to say and have what you're going to say in the hidden notes on your desktop or on your screen, or in front of you, right? Where are we at?
[00:12:43] Number three, detailed product or service information. So provide detailed information about the product or service being pitched, including key features and benefits. Now, if people get too caught up on the features and benefits, it's often because they don't trust you a lot of times. So just be aware of that. If they trust you, then the features and benefits can help move them towards the close. Number four, customer testimonials. So make sure you include quotes or video testimonials from satisfied customers to build credibility and trust. They need social proof. This is a risk for them to trust you, and so you need a showcase or have some stories, some success stories to share and showcase real people-- faces. They need to see faces of humans that say, "you should work with this property management company." Number five, a solid business model. Outline the company's business model and how the product or service fits into that model. So you think that your business, actual product, your product really is your business. It's not property management.
[00:13:51] Your product really is your team. It's your service. It's your philosophy, it's your values as a company. And so I think it's important to showcase that. Number six, market analysis. You could provide data and research to demonstrate the size and potential of the target market. So I think this could be helpful in property management because one of the big challenges or objections people will have if you're trying to convert them maybe from an accidental investor to a long-term buy and hold for example or something. They might have concerns about external factors related to the real estate industry, the market as a whole. "Should I even keep this property?" And that could be very relevant to have some data about the market and why it's good to invest there and why it's good to hold onto the investment, et cetera. Number seven, marketing and sales strategy. Outline the marketing sales strategy for the product or service, including details on target audience, pricing, distribution channels. So you will be marketing these properties. And so they're going to want to see some of that stuff. Like, "here's how we're going to help you get this thing rented out. Here's how we're going to market. Here's our process. Here's how we're going to make a video of the property and how we're going to put it out there and how we're going to get you the best tenants" and stuff like this.
[00:15:10] Number eight, team and leadership. So introduce the team and leadership behind the company highlighting the relevant expertise and experience. So I think that's very helpful to showcase that it's not just a one man show if you can, and to showcase that your team have knowledge and experience and to showcase your expertise. A lot of times you aren't talking enough about yourself and like, "here's why I'm an expert." So for example I would say, "I've spoken to thousands of property managers. I've helped hundreds. We have hundreds of clients. We have about 90 businesses in our Mastermind right now, paying us thousands of dollars a month, right?" so I want to showcase my expertise. Right. So you need to be willing to toot your own horn and showcase that you're an expert. Otherwise, why should they trust you? Right? They don't care how much you know or what you know until they know that you are an expert and are safe and they can trust you, right?
[00:16:08] Then they'll start to listen to you. I usually recommend you qualify yourself early in your pitch deck and early in the conversation. Okay. What else? We've got number nine, financial projections. So providing financial projections, including revenue and profitability estimates to show the potential return on the investment for the product or service. So that can be a little bit dangerous, I think, legally. You need to be careful. You can't make certain promises, but I think with their rental property, you could show a performance. You could show some projections of the future of what they could be doing versus where they're at now, which creates a pain gap between the results you can get them and where they're currently sitting. You could showcase rent range reports and what their property should rent for. You could have comps, stuff like this. And then number 10, a clear call to action. So of course at the end, you should end with a clear call to action and outline the next steps, right?
[00:17:09] So that is the idea of creating a pitch deck. Now I have a lot of psychology and science that I put into pitch decks. I don't have the time to go into all of that here on a podcast episode. We go deep. There's a lot of cool stuff that you can add into your pitch and into your pitch deck. As part of our rapid revamp program, I spend two weeks, two of our calls are spent just focusing on how to create the ultimate pitch, and then we have a whole training in DoorGrow Academy in Sales Secrets, how to build the ultimate sales pipeline and process. And then how sales language that you can use, which is based on neurolinguistic programming to psychologically shift people's attention towards the things they should be focused on to deal with objections, stuff like this. And then we get into my four phase Golden Bridge selling, which I think is the most authentic way to sell to create trust, which is about transparently sharing your real motivation besides just getting money from them and sharing, connecting it to their motivation and showcasing how your business is a vehicle for you to get what you want. So you can go back and listen to my episode on the Four Reasons for starting a Business. So it gets into that a bit and then connecting it. So if they understand your motive, the business motive, and it connects to their motive, everybody's in alignment and you know there's going to be a win-win win between all three entities here, right? So the business gives you what you want and helps give them what they want, and that's the golden bridge.
[00:18:42] The business is the bridge between both of you getting and connecting with your desires, connecting to each other, right? And it's the most authentic, easiest way to create trust and to sell. And we get into the four phases of that in our selling process, and then we get into what I call the three dominoes that you need to knock over in order to have the ultimate pitch, which is during phase three is the pitch part. So, if you're curious about learning this, you want to increase your close rate, you want to close more deals, you want to get more clients, reach out to DoorGrow. We would love to help you out, and our clients are crushing it. We had our growth accelerator call today with our group coaching clients. One of our clients just added 37 doors in the last month. So kudos to that client. And he just broke the hundred door barrier. He knows how to get doors, doesn't have to spend any money on advertising. And he's like, "it's becoming painful." And that's exactly what we define at that stage in our DoorGrow Code. You break the hundred doors, and it's going to start to become painful because you now are a promoter and you know how to grow your business. Adding doors is not hard. So we solved that problem. So now he needs our super system. He needs to start building out the back end of the business operations, et cetera.
[00:19:58] And if you're already beyond hundred doors, you're probably making some of the most typical mistakes. You're thinking, "I need more processes. I need to micromanage my team more, I need more KPIs." These are very typical thinking of entrepreneurs that are stuck and will never break 600 doors because they are focused on the wrong problem. It's not that you need to micromanage more. You need a better team that you don't have to micromanage. And so we can share all of that with you during our sales call. We have slides for this that I think you'll real will blow your mind. So reach out to DoorGrow. We would love to help you grow and scale your business. Reach out to us. You can check us out at doorgrow.com. Book a call with our team and we're going to help you make a lot more money, but get more fulfillment, freedom, contribution, and support in your business.
[00:20:43] And until next time, to our mutual growth. Bye, everyone.
[00:20:46] You just listened to the #DoorGrowShow. We are building a community of the savviest property management entrepreneurs on the planet in the DoorGrowClub. Join your fellow DoorGrow Hackers at doorgrowclub.com. Listen, everyone is doing the same stuff. SEO, PPC, pay-per-lead content, social direct mail, and they still struggle to grow!
[00:21:13] At DoorGrow, we solve your biggest challenge: getting deals and growing your business. Find out more at doorgrow.com. Find any show notes or links from today's episode on our blog doorgrow.com, and to get notified of future events and news subscribe to our newsletter at doorgrow.com/subscribe. Until next time, take what you learn and start DoorGrow Hacking your business and your life.