Today, Coach Collard is bringing the power… POWER TEAM!
He’s discussing the importance of the Power Team, and what it looks like to begin building a strong Power Team, and the fact that it’s easier than you think. For many, the Power Team looks like a big elephant, but reality shows us that it is not.
So, just like any elephant, you eat it one bite at a time. I’ve found over the years for those NOT already in real estate full time, they sometimes find it difficult to establish relationships with professionals that can support their investing. This is ONLY a story they tell in their heads though, as 90% or better of all the real estate professionals, in all their different specialties, are always helpful and available to build new relationships, and in fact, they spend most of their time finding other professionals to work with. I know for a fact that my team wants to know more people, so let’s get to it!
FUNDAMENTALS necessary in using power teams
– go at least 3 deep in each position – any good team needs a backup bench
– expect that they are minded like you, and provide education
– have them show you how they work, up front, and make sure it can fit in your process – example: You contractor needs to have time frames, and be a good communicator, so that if you need an estimate, it doesn’t take 6 weeks to get him/her out to your property, especially if you are working to get it under contract.
– blue collar and white collar are necessary – expect professionalism, communication and respect from all, and provide the same to and for them
– lastly, make sure your white collar professionals are investment minded, and have experience in what you are needing – many people work in specialties, but don’t actually have experience or context of your work. I promise you, this is a difference maker.
– IMPORTANT NOTE As you build these relationships, remember, they are in business, just like you are… start expecting and ASKING for services and ask them how they work, and ask if you can see a sample, or even better yet, can they show you how they work. You’d be amazed at what your POWER TEAM will give and do for you, by just asking.
My partner, and fellow wax-on wax-off master, Jon Lee (not related to Bruce), has a great POWER TEAM script to use with friends, colleagues and other professionals. Feel free to use it.
“Hi, this is Jon Lee over at Outback Investment Solutions, and I’m calling you because Coach told me you are a great resource for xyz service. I’m interested in building a business to business referral relationship with you, and would appreciate if you would meet with me to discuss your services. Also, I’m certain you work with other great professionals, and I’m curious if there are a few other professionals that you highly recommend and believe in.”
This script is a game changer, and has the ability to grow your POWER TEAM fast and furious, although slow and steady works too. 🙂
That’s it for today…enjoy and go get your dreams!