*** 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:
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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:
- 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.
- 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.
- 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
Private Money Academy Conference:
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
https://www.JayConner.com/MoneyPodcast
Jay Conner is a proven real estate investment leader. He maximizes creative methods to buy and sell properties with profits averaging $67,000 per deal without using his money or credit.
What is Real Estate Investing? Live Private Money Academy Conference
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