The First 30 Days
What To Do as a New Entrepreneur
Who should listen: This episode is for entrepreneurs who need guidance about the things they should do to quickly capture their first clients.
Key idea: If you want to be a top earner, then you have to be willing to put in effort that tops what others are doing.
Action item: Prospect. Prospect. Prospect.
As a new real estate agent, independent financial advisor, insurance broker, or other entrepreneur, what you do during your first 30 days in business will set the tone and help you form the habits that can make or break your success. Follow these 5 action steps, and you’ll be well on your way to winning your first client. Don’t follow them, and you may end up as one of the many who fail within their first 2 years.
1. Start to establish your brand
Among the many activities involved in branding your business are:
- Developing your unique value proposition (UVP) and what it means to your clients.
- Getting active on social media. A great way to begin is to document your journey—why you got into your business of choice, the services you provide, your expectations and goals, etc.
2. Get a CRM tool
A customer relationship manager (CRM) will help you to keep all your leads, clients, and their related information in one place. When deciding upon a CRM, make sure it can be integrated with your other systems, is scalable, provides custom reports, is easy to use, offers live customer support, and is affordable.
3. Begin to build your list
Once you have your CRM, you need to start populating it with information. Start with your sphere—friends, family, colleagues, business partners, social contacts, and anyone else who could become a client or who might refer you. You’ll want to collect their contact information and as much as possible about who they are—their family, their occupation, what they like to do, and what they hope to do. We provide great tips for getting both types of information.
4. Prospect from the outset
Prospecting for leads is the most important thing you can do to ensure your success. Without leads, you have no business. Do not let other tasks take precedence. It’s far too easy to get caught up in administrative and operational tasks and get distracted from what is, in the beginning, the only income-producing activity you have. Make prospecting a daily habit.
5. Study your craft
Knowledge and practice will give you the confidence you need to prospect, offer a stellar pitch, answer questions with authority, ask for referrals, and encourage trust. Study your market—strive to know everything you can about what affects your business and your clients. Practice your scripts—if it’s good enough for Tom Hanks, it’s good enough for you. Read every day. Listen to podcasts that inspire, motivate, and educate. Find a mentor, and hire a coach. (We cannot think of a Stay Paid guest who hasn’t benefited from having a coach.)
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