The other day while doing my typical failing scrolling through FB (100% for OmniDrip lead gen—and investors and AM’s can find deals this way as well)…
I came across a struggling new investor…
This time was different.
He wasn’t a typical newbie who says:
“I’ve cold-called 100 times and I can’t find a deal 😥 !!!!”
No this was different.
He actually did a LOT of activity. (200 offers made per month for 6 months; calling prospects 6 hours a day).
So I’m going to roll up my sleeves, put on my coveralls, and peek under the hood.
Because this sort of problem is actually easy to identify.
He has LOTS of data.
He’s “tested” the market, his offer, his skills etc.
And when it comes to something that’s NOT selling (and you’ve done enough “tests”)…
You can boil down a failing business into 2 categories:
1.) Bad Lead quality (None of the leads you’re putting your offer in front of, are the right people (none are selling)).
2.) Bad Offer (Your offer is way off; probably too low; ARV off)
Yes, many of you can say: “Well his sales can be bad” or “he’s not following up enough”…
Yes, that’s all true…
But he made 1200 offers!!
Even at a .1% close rate (Complete fools, bumblers who trip over themselves, or mutes can achieve better than that) …
…. He’d still at least close 1 deal.
So what about lead quality?
He definitely has an efficient lead quantity (a factor that most new people miss). And he mentioned he’s reaching out to all the niche lists that everyone else works AND they’re asking to see his offer… So my guess is it’s NOT lead quality.
The only thing left is the offer.
He’s massively miscalculating his offers.
And at this MASSIVE fail rate, it can usually boil down to the basics I pointed out.
Only basics can create such big fails/wins early on in a business.
Bottom line: The fundamentals. It’s worth going back to.
Look I’m not a wholesaler today so maybe you’re rolling your eyes at this.
But here’s the thing…
Whether you’re selling cash offers, coffee mugs, airplanes, or software…
… the basics don’t change.
A good growing business can be broken down into these factors (In this order):
-
You have a good offer.
-
You get that good offer in front of enough of the right people.
-
Overdeliver on the promise.
-
Put the right people/contractors/employees in your business.
If you can’t get #1 and #2 right… you won’t have a business.
I didn’t mention anything about sales hacks, the sexiest marketing/copy, the best scripts, etc.
Because none of that matters if #1-2 is off.
#1-#2 make your business.
Once you get the basics THEN tweak the business with better copy/marketing, hacks, etc.
– Paul “Putting getting under the hood” do Campo
P.S. Where are the basics with OmniDrip? I’ve got #1 NAILED. #2 is there but needs to be scaled. #3 is definitely there, and I’m always improving it. #4 I’m working on.