Property Management Growth with DoorGrow DGS 148: The 3 Dominos To Knock Over To Close More Property Management Deals
Property management growth expert and founder/CEO of DoorGrow, Jason Hull talks about three dominos that you need to knock over to close more property management deals.
Jason discovered the three dominos concept in sales from Russell Brunson, a New York Times bestselling author that popularized sales funnels and co-founded ClickFunnels to help entrepreneurs get their message out to the marketplace quickly.
You'll Learn...[01:25] Three Dominos Concept: How to pitch property management services.
[02:19] The three dominos are the vehicle, internal beliefs, and external beliefs.
[02:39] Domino #1: The vehicle is your service to get to what people want.
[03:29] Competition: What are all the alternative vehicles for property management?
[04:55] Lead Gen: Cold leads are costly and warm leads cost time but less money.
[06:33] DIY Option: Takes much longer to do everything and get the same results.
[07:12] Domino #2: Tackle all of the customer's internal beliefs by offering support.
[09:58] Domino #3: Deal with all external and false beliefs that concern customers.
[11:05] Logical Conclusion: Only thing left is to sign up with you and your service.
[13:45] What is sales? Helps people get what they want, and what you desire, as well.
Tweetables"There's three dominoes that you need to knock over in order to get somebody to buy your services and to sign up with you as a client."
"If you knock over all three dominos, the magic that happens is the only logical conclusion they have left and decision they have left is to work with you."
"Safety and certainty is really what these people want."
"I'm building trust, creating relationships, and I'm helping them see reality, and really, I think that's what sales is all about."
Resources TranscriptWelcome, 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, you are interested in growing your business and life, and you are 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. Now, let's get into the show.
So today's topic, I was hanging out with my coaching clients today. We had a great call, lots of people, and we had a brand new client. He was asking about, how do I pitch? Basically, the question was, how to pitch property management services? One concept or principle that I related that I would like to relate to everybody listening today is the concept of the three dominoes.
I don't think I've chatted about this before. If I have, then you can hear it again. Anyway, the three dominoes concept in sales, I got that idea from Russell Brunson. I've heard him talk about it. I just grabbed one of his books off the shelf here. In this book, he mentions it. He probably mentions it in his others, but there are three dominoes that you need to knock over in order to get somebody to buy your services and to sign up with you as a client.
These three dominoes are the vehicle, internal beliefs, and external beliefs. If you can knock over all three dominoes, the magic that happens is the only logical conclusion they have left and the decision they have left is to work with you.
Let me explain these. So the vehicle is the first domino. This is important. The vehicle is your service. Your service is the vehicle for them to get to what they want. If you're selling property management, the vehicle that you're selling or offering is your business doing their management. For me, the vehicle is our DoorGrow and Scale Mastermind, that's the vehicle that we offer.
Now when looking at vehicles, if you want to knock this domino over and accomplish the goal of them recognizing it, your vehicle is the best vehicle for them to get into. You have to throw stones at all the other vehicles. You have to destroy all the other vehicles in their mind so that the only logical vehicle left standing is your vehicle.
So if you want them to use your business for property management, you have to look at what are all the alternative vehicles? Write these down, figure out what are all the alternatives. They can self-manage. They could go to a real estate agent and ask them to do it. They could go to the big box company and franchise company down the street. They could go to the small mom and pop company that competes with you that's down the street. There are lots of different vehicles.
After you've looked at what are all the possible vehicles that exist for management and you make a list of these, you have to figure out, how can I throw stones at these? Why is my vehicle better than them self-managing, than them using the big box company down the street, the small mom and pop shop down the street that I compete with, or whatever?
If you don't have a good answer to that question, then you don't have maybe the best vehicle. How can you make your vehicle better? Sometimes you just need to work on your product and improve it. So you need to have the best vehicle.
With my vehicle, the DoorGrow and Scale Mastermind and the coaching program that we offer, the alternative vehicles people have for growing their management companies could be hiring some other coach, it could be doing SEO, it could be doing pay-per-click, it could be doing content marketing, it could be doing social media marketing, or it could be pay-per-lead services.
In my training that convinces people to sign up with us and work with us, I go through and explain why all of these vehicles generally are all cold lead advertising, and why cold leads are not as effective as warm leads. Why the close rate is typically 10%, or worse for most property managers with cold leads. Why cold leads are really expensive. You have to pay for these marketing services. You have to pay agencies, then you have to pay for ad spend, and it's really costly.
I contrast that to our opportunity, our vehicle, which is based on warm lead generation, which is based on things that don't really cost you money. It does cost time, but it actually takes less time than dealing with cold [...] leads and prospects that are just time wasters and tire kickers, that are at the end of the sales cycle, that are searching on Google, that are super price-sensitive, and are the worst. They're the scraps that fall off the warm lead or word-of-mouth table that my clients get to eat at.
This is how I attack the vehicle. For me, that's easy because it's true and it's obvious, I feel like. So I explain it, and then when people get it, they go, wow, that vehicle does sound better than these other vehicles and you might have written in some of these other vehicles. You might have tried them and you know from experience, they're not working really well.
In fact, most of the companies that are trying to do those other vehicles to grow their business are losing more doors than they're getting on right now due to the sell-off that's happening in the marketplace. A lot of the larger companies are down at least 200 doors over the last couple of years. That might be you. So the vehicle, so you have to know how to attack all the other vehicles.
I also have the alternate vehicle that is challenging or that I deal with, that clients will focus on which is DIY, just like you as property managers. We have people that are like, I can just read business books or I can just watch a bunch of videos on YouTube, I'll do it all myself. Awesome, I used to be that guy too. You could do that. And it will take you 10 years longer to get the same result.
I've seen it and I've been that guy. I've been that guy that thought I knew everything and could do it all on my own. Until I started getting coaches and mentors that collapsed time. So I'm attacking that vehicle. You have to figure out how do I destroy and attack all the other vehicles.
Once your vehicle is the only vehicle left standing, the next domino that needs to be knocked over in order for them to work with you is the internal beliefs. These are beliefs about their own internal self, beliefs about their own abilities to execute on this opportunity, beliefs about their concerns internally. You need to figure out what are all the internal beliefs and concerns that might prevent them from becoming a customer and from working with you, becoming a client, and signing the contract.
Any internal beliefs like, well, I don't know, maybe they have a need for price anchoring. They don't know what the price should be for property management, you've told them your pricing, and they don't feel safe. So you need to solve that challenge. Maybe they don't know what your values are or things like this, and they're nervous that they might be blind to something or missing something.
You have to figure out, what are all the internal beliefs that come up for your prospects? Make a list of these and you have to figure out, how can I throw stones and knock all of these internal beliefs down during my pitch? You've already knocked down all the external, third-party, and alternate vehicles. Now you need to deal with all those internal beliefs.
A lot of times, internal beliefs have to do with levels of support. In our program, we deal with the internal belief, concern, or challenge like maybe I can't do it. Maybe this works for others, but maybe I'm not good enough, maybe I'm not charismatic enough, maybe I'm not cool enough, maybe I'm not smart enough, or maybe I'm lazy. We have to figure out how can we attack those internal beliefs.
One of the ways is we focus on support. You get direct access to Jason. You can schedule a one on one with Jason as part of the mastermind. You're going to get telegram access to Jason so you can send him messages through Telegram—video, voice, and text throughout the week.
If you get stuck or have questions, we also have Adam, Maddie, and others on my team that are supporting you as you move through certain processes like branding, web design, or some of the things that we help clean up in a business. They're there to support you as well. What other internal beliefs?
Maybe I need to learn more. Awesome, we have DoorGrow Academy. We have a repository of training material we built up over the last decade of stuff that you can learn if you need to learn more in order to get the results. Cool, what about action? We have accountability and we have weekly check-ins that you're filling out each week to figure out whether you're doing it.
We've taken a look at all the internal beliefs that we could think of that clients had challenges with or that were preventing clients from getting results, and we figure out, how do we tackle that and how do we deal with that? We're always looking to improve in that area. Once internal beliefs are handled, there are no internal beliefs left, then people tend to go external.
So now the last domino that we need to knock over are all of their external beliefs. These are all the false beliefs they have about outside forces that could keep them from having success, things beyond their control. This could have to do with time, which keeps rolling on. It could have to do with the economy, which could be shifting. It could have to do with the real estate market at large. It could have to do with local laws and municipalities. It could have to do with the federal government.
All of these are external beliefs, COVID hitting. What if this happens? What if that? All these external things that they might have concerns about, how will this be dealt with? What will happen here? If you can tackle all the external beliefs that this investor might have and knock all of those down, you make a list, like I said, of the previous two dominoes. Make a list, figure out what all of them are, and figure out how am I going to deal with these so that I can make them feel safe.
Once you've eliminated all the external beliefs, you've thrown stones at all of those, the only logical conclusion left. They know that there's only one vehicle that makes the most sense. You've dealt with all their internal beliefs and concerns. You've dealt with all the external beliefs that they might have. The only logical conclusion left once those three dominoes are knocked over is to sign up with you, is to use you. There's nothing else that would make as much sense.
So if you build trust through this process, safety and certainty are really what these people want. This is a big secret for sales and property management. Nobody gives a shit about property management. This is not what they want.
They do not want to buy property management. They don't wake up in the morning and say property management is sexy and awesome. They don't read blogs about it and follow social media accounts about it. Unless they're property managers, they want safety and certainty. They want peace of mind. That's important for them.
So having the best vehicle, having dealt with all their internal beliefs, and dealing with all their external beliefs, they're going to have a high level of trust, safety, and certainty in you and in their ability to work with you. They know that you're going to be able to deal with all the external factors that they were concerned about. So there's nothing left to really prevent them from signing up.
Then you just say, if I can deal with all your concerns—internal beliefs and external beliefs—and I can explain why our vehicle is the best, would it be fair to say that you'd be wanting to sign up today? Is that fair? They'd say, yeah, probably.
If I can help you see how we're the best company in the market for you, how we can make sure that you feel safe and taken care of, that we can make sure that all of your external concerns are dealt with, and we have answers to those, would you be willing to sign up today? Is that fair? Then you say, yeah, that makes sense.
That's basically it. So put together your pitch. Go to the drawing board, you could write out each belief on a post-it note and get a whole list of all the internal, whole list of all the external, and figure out where all these vehicles—internal, external. Get clear on this.
You could build it out on a Trello board on trello.com and have each of these. This is how I put together my framework and my training for DoorGrow Secrets or the Seven Frameworks training that we give to potential clients for free that sells them on signing up. Some watch that training and then they just sign up.
It's like two hours long and I'm teaching a bunch of concepts, frameworks, and ideas for free, and adding value. I'm building trust, creating a relationship, and I'm helping them see reality. Really, I think that's what sales is really about. Sales isn't about manipulation. It isn't about control. It's about helping people see the real issue, the real problem, and helping them see the real path and how you can help them get what they want.
Sales really isn't about you getting what you want. It's about them being able to get what they want and you get what you want. This is that mutual thing. Your business is this magic bridge between your desires being fulfilled and their desires being fulfilled.
Hopefully this is helpful if you want to compound this. Once you have your pitch put together, add some images to it to drag this home. Don't fill it up with a lot of text, but some people have a hard time digesting all of this. So you'll notice in my training, I have slides and I have images to help people see and get these concepts quickly. So making a visual can help them understand these things quickly.
Have an image for each vehicle, have an image for each internal belief, each external belief, and you can crank right through these, explain them, and they'll get it. By the end, they'll feel like they have a lot more clarity than if you had no visual imagery. So you can put together a little slide deck or pitch based on these three dominoes. Then, of course, you can end it with a close or a call to action to solicit that.
Hopefully, this has been helpful for those listening. If you're wanting to take things to the next level, you want to become a badass at sales, you want to feel like you could close anybody that you talk to if you want them, and you want to shift from being the person that's trying to get everybody on to being the sexy guy or girl at the bar that does not feel the need to get with everybody, but you're a high value and people want to be with you.
If you want to shift that, then reach out to us at DoorGrow, and let's get you that Seven Frameworks training and our DoorGrow Secrets training and get you moving into our program hopefully. You'll be learning how to be really effective at closing more deals more quickly and doing things that are far more efficient than all those other vehicles.
I'm Jason Hull. I hope this was really helpful for those of you that are struggling during your pitch, losing deals. If you're dealing with anybody that is not a hot, warm lead, and your close rate is lower than you want it to be, then try applying this three dominoes principle to point them towards your ultimate opportunity or vehicle to help solve their problem. That's why businesses exist, to solve a real problem in the marketplace.
What if they don't have a problem? Then they don't need you. So you don't even need to pitch to them or sell to them. So identify the problem and then go into this pitch with your three dominoes. Knock them over and get some doors. I'm Jason Hull and I'm out. Bye, everybody. Until next time to our mutual growth.
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