Epic Real Estate Investing - How to Build Your Epic Team | Team Builder Episode 5 | Financial Freedom Friday

Episode Date: January 24, 2014

It's Financial Freedom Friday at Epic Real Estate! This is the 5th in a series of 6 lessons on how to build an "EPIC" real estate investing team. Get the rest of the lessons for free by subscribing to EpicRealEstateInvesting.com Or... Watch the video versions at EpicREI.tv Learn more about your ad choices. Visit megaphone.fm/adchoices

Okay, in the last video lesson, you learned that you will look to your inner circle of friends, seek out referrals, attend weekly face-to-face networking functions. You're going to use social networks, and you're going to scan online and offline advertising and marketing materials to build your network. We also briefly touched on using a database to keep track of contact information and categorize your new contacts. And of course, we discussed once again that not every person you meet during your networking adventures will be on your epic team. a select few. The best of the best can make the cut to be on your team. These individuals must be exceptional both personally and professionally. And on top of that, they must be a good fit with you, your vision, and your mission. So in a nutshell, we've covered the what, the why, the who, and the where. So let's get down to the nuts and bolts of how to build your epic team.

Now I'm going to lay out a step-by-step system for selecting and narrowing down your network to find the individuals who will fit into the five epic team categories that we've touched on in video three. So I want you to know nothing. Absolutely nothing builds a network better than face-to-face networking. Because of that, I'm using networking meetings as an example here for how you will identify and select your team members. Now, as we go through these steps, you'll see how this process also pertains to the other networking options, the other hotspots that I mentioned in video four. Before we begin, though, I want to share two tips with you that transform, the entire networking experience for me. I mean, initially, I hated networking.

And because I did, my results were poor. So these two tips, they transformed my experience and my results to a point where I actually enjoy the activity. And here's what I mean. I mean, if you're anything like me or the millions of other people that cringe when they just hear the word networking, I understand. I mean, many people liken networking to selling yourself

to as many people as possible while they are trying to sell themselves to you. Who wants to do that? Yuck. So here are my two tips that might positively transform your perspective experience and results. Also, networking tip number one. Instead of networking, think of what you're doing as connecting. You aren't there to network.

You aren't there to sell. You are there to connect. So meet people with the intent to connect. And trust your gut during this process. I mean, if there is no connection, no big deal. Move on. Look for another connection. And if you don't make any way.

connections at that meeting no big deal that's going to happen frequently so don't beat yourself up about it just enjoy the coffee and enjoy the the scenery and just make sure that you attend at the next meeting now networking tip number two instead of trying to meet everybody in the room just focus on one person at a time I mean if you happen to spend the entire night talking to just one person and make a great connection that's far better than talking to everybody in the room creating several so-so connections All right? You're going to build your epic team one member at a time. So connect as such to make sure that you get the right people on your team.

Okay, so here it is, your step-by-step system for building your epic team. From introduction all the way to team selection. So step one, be interested. You know, to meet the right people in networking meetings and have others show an interest in getting to know you, you must first show an interest in them. Your job here is to be inquisitive, to be interested in everyone that you meet. But don't be weird about it and interrogate everybody, but be naturally interested and where people are from and what they do, how long they've done it, and how they do it.

Ask questions and listen to the answers. Really listen. Be interested. This will get the ball rolling and potential relationships on the right track. Step two, wait to talk about yourself. When the conversation eventually does turn to you, and you are asked, so what do you do? You're going to say, I buy and sell houses. Now, I recommend that phrase over saying, I'm a real estate investor because, you know, I found that real estate investor tends to frequently just shut the conversation down. Not exactly sure why, but my hunch is many people think that they know what real estate investing is, so they don't ask many if any follow-up questions. I mean, you'll get all types of responses, but rarely do any of them carry the conversation forward.

I mean, at the very minimum, I buy and sell houses, at least that evokes, say, what kind or in what area? I mean, those are the types of answers that open the door for you to share your criteria. And that's ultimately what you want to do. That's what works for me. But, you know, feel free to experiment with different answers to what do you do. I mean, to find the one that really works best for you. Whatever it is, just know that there is strength in descriptive simplicity, like I buy and sell houses. Descriptive and simple.

Step three, exchange information and leave a favorable impression. You know, if you feel there has been a connection, ask for the individual's business card and finish the conversation with something like this. As you can probably imagine, you know, I meet a wide variety of people in my line of work. If I should come across your ideal client, how would I know that and how would you want me to introduce them to you? This is a really powerful and memorable closing statement, showing your willingness to give and not just receive. I mean, often at this point in the conversation, you'll receive a showing of gratitude and an offer to also do the same for you. That's a good indicator of someone who you might want on your team. Remember, your epic team will only function at top form when everyone is working for the benefit of everyone else on the team.

Step four, take notes. Make a note, either mental or written, of what you learned about the person to input along with their contact information in your database later. a moment to reflect on the feeling that you got from each individual during your discussion. Think about how the discussion went and whether or not they had the same vision of success as you do. Were they likable? Did they seem competent? Step 5.

Follow up. Follow up the next day with the people you could see yourself potentially doing business with in the near or far future. You'll want to follow up the very next day for two specific reasons. One, your conversation is as fresh in each other's memory as it will ever be. And two, nobody else they met is going to do this. Following up the next day is going to separate you from every other networker that they met at the meeting.

I mean, that one call is going to establish yourself in the mind of the person that you're calling as someone who is professional, courteous, and ready to do business. Most of all, memorable. Step 6. Book a meeting. During your follow-up calls, your intent is to arrange a meeting, one-on-one face-to-face meeting in order to learn more about each other's business to determine if it would make sense to stay in touch. Maybe it will. Maybe it won't. That's what you want to find out.

And during this FaceTime, you need to also reflect on whether or not this person's personality is a good fit for you. You know, having a team member that is wildly successful but causes you to cringe every time you are doing a deal together. That's no good. All right? And remember, your epic team is your team and your path to financial freedom. Right now, not the time to compromise. Step seven, lead the meeting and get recommendations. You know, during your one-on-one meeting, again, I want you to be interested. That's your job to always be interested. I mean, if you want to be interesting to other people, you must first be interested.

So take the lead and get to know as much about that person, what they do and what they need to further their business. Don't talk about your business until they ask about you. And then somewhere near the end of the conversation, I want you to ask these two questions. And I'll share with you why in the next two steps. But first question, now that you know a little more about what I do, who do you know that I should know? That's the first question. Here's a second question. If you are in my shoes and had the same vision of success, what would you do to make that vision a reality?

Those are your two questions. Take note of how these questions were received, what the answers to these two questions were, and then follow the next two steps once your meeting has concluded. Step 8. Follow through. Call anyone that the individual recommended that you should know and set an appointment to get together with them. And when you make that call, it might begin something like this. Hey, John, my name is Matt, and we haven't met, but we have a mutual friend and Steve, and Steve suggested that I give you a call. And your name came up on our conversation the other day, and Stephen thought it might make sense for us to get together over a cup of coffee and just talk shop. Would you be open to getting together for a quick chat? It's very simple, right? If they accept and meet with you, you'll carry out the same structure as you did in the meeting that you had with the person that referred you. And if they don't accept, no big deal.

And it's never a big deal, by the way. It's a process. Now, as you meet each new person, you're likely going to walk away with one of the following two feelings or responses to that meeting. You're going to think to yourself, why in the world would anyone recommend this individual to me? And in that case, you might want to just scratch both individuals off your epic team list of potentials. Now, the second response you might get after your one-on-one meeting is, wow, I can see exactly why this person was recommended. And if you were genuinely wowed by the individual, then you should definitely put both the recommended and the recommender on your short list of epic team candidates. And you'll also want to follow up with the individuals that they recommend to you because they will likely wow you as well.

Birds of a feather, they flock together. In business, they most definitely do. Step 9. Go deep. You know, if you were given advice to that second question, what would you do if you were me? And the answer, it made sense to you. Go do it. And once you've done it, call the person back that gave you the advice and share with them

the results of what happened when you followed their advice. But don't stop there. I want you to go deeper and follow up with another question. and ask, do you have a suggestion for what I should do next? If the individual seems genuinely interested in answering that question and even better gives you more great advice, then I'm thinking you want to put them on the short, short list of potential epic team members. In fact, if the advice you receive is better than anyone else provides and the individual willingly offers more than you ask for, then you most likely have found yourself either a mentor candidate and or a member of your Epic Insiders team.

Step 10. The last step of the system. It's simple. Go back to step one and repeat the process. Repeat it again and again and again. Don't stop until your team is complete. Yes, I know it sounds like this team building might take a long time. Maybe.

Maybe not. Let's say it is going to take a long time to build your epic team and the sound of that is deflating you. Or maybe it even sounds grueling. I understand. Been there, felt that. Pay attention. You're going to have to meet and interact with a lot of people as a real estate investor. There is no getting around that.

You might as well make it as productive of an experience as possible by putting a system in place to meet all of these people. And know this. A consistent approach creates consistent results. Your progress and overall success is infinitely easier to manage this way. It takes no more effort to implement a system than it does to not. There is no difference in effort. The difference, however, lies in your results. Choose the system.

Trust me. Further, you know, I'd like to ask you, what is a life of where you get to wake up every day and do what you want to do as opposed to what you have to do worth? And I ask you that because that's the type of life that an epic team will lay at your feet. This system is the shortest path to that life.

Now, I covered a lot of information in this video. This system, along with the next video lesson, it contains the real meat of this course. So please watch it again. You might have to watch it multiple times. And I've included a transcript of the course below. So print that out and follow along. And I recommend some role playing of this process with a friend or an associate. You know, the more meetings that you conduct, the better your meetings are going to get.

But run through it a few times before your first meeting. that your first meeting is perceived as professional, comfortable, and natural. Now, once you have your epic team members in place, life is good, but your job isn't done. This is your team. You are responsible for leading the team, managing the team members, and always looking for ways to improve your team. So in the last video lesson, I'm going to show you how to do just that. All right? See you there. Sweet Radio Network. For more top business podcasts,

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