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hey guys welcome back to the hustle with your host myself ben anderson today i'm talking about new sales people and how to get business when you're starting out at sales there's a lot of errors that i made that i can help you avoid and that i know you are making that i can help you avoid and it starts by looking at where do i get business from so i'm going to dive deep in today to show and this is not just for new sales this is for all sales people but especially if the market's changed and you're looking for a restart and you're getting back in sales or maybe you want to get in sales and you're being told by your manager how to get business so i'm going to unpeel all of this onion today on how to get business and sales think about it your number one priority is getting business so how do you get business where do you start and should you pay for leads so you buy online marketing and then how do you keep clients for life so let's jump into this where do you get business from that's where you have to figure out day one i'm going to start in mortgage i'm going to start in real estate i'm going to start selling before you can even start to sell you have to have a game plan of who am i going to sell and where is that business going to come from there's three places that that business primarily can come from number one you can buy leads number two you can get referrals or number three you can work off of your book of business that maybe you don't know that you already have so what's the right option let's examine all three and i'll give you my opinion after buying leads so if you're jumping into sales and you're going to buy leads do not buy leads out of desperation meaning if you don't have the budget to buy leads for six months then don't buy leads at all because you're buying leads with the hope that you close a bunch of deals and then put that money back into leads you're gonna be inconsistent so it's is it worth it to spend two thousand to make four thousand you're just only made two thousand and it's been 30 60 days you're gonna always feel behind the eight ball so if you're going to buy leads and you're starting in sales make sure that you have a monthly budget and that it can last for six months because i think it takes 90 days to get your money back before you start to make money and if you can't afford to do that then don't you have to have a budget number two you can get business from other sources that you didn't originate or didn't start so what would that mean that means getting jills from referral partners or having your company dish you leads what's the golden rule in sales he who has the gold makes the rules so just know that if you're living off someone else's leads you are beholden and captive to the way they want to do business so for example if a company is referring you business you're probably making a very small split because they're paying for the business it's not really your lead if you're a loan officer and you are working with a realtor who is referring you business for a fee it's their client you must jump when they say jump show up when they say show up and do what they say you're not working for yourself you're working for the person that's feeding you so the second way to get business is let someone else feed you and that comes with its own red tape and the third way to get business if you're new in sales or restarting or just wanting more business is to work off of your own book of business and if that's your mindset you're working through people that you already know the biggest challenge there is making the ask i'd rather have that be your biggest challenge than financial let's just recap real quick i'm new in sales i want to get business before even starting your job or doing sales you must understand there are three general funnels for where business comes from you can buy business you can take business or you can make business remember that you can buy business you can take business or you can make business you already probably know where i'm going with this i think you should make business if you make it you own it and it's yours i wouldn't go buying leads because that's probably a long road to the top and you constantly have to spend and it's expensive and it's someone else's business now if you're starting nothing wrong with buying leads but my advice for lead buyers out there is make sure that there's six months of reserves in your bank for your business because it takes three to four months to get the roi then you start to make money it's a good model and then eventually you can wean off of the business buying once you have a business that pays for itself number two there's nothing wrong with going out there and getting referral partners but if you're new would you work with you think about it if you're a realtor and a loan officer calls you and that loan officer might be you and you're trained by your company to go get a bunch of realtors what's your value going to be hi i'm ben i'm a new loan officer can i do open houses for you can i take out your trash can i give you flyers you're going to be doing whatever you can to get business and if that's your mindset it's not probably very good you're going to be having a low value with the super high turnover because people are going to figure out that you're new you don't have a lot to offer if you're a new loan officer what can you really do for the realtor that somebody else can't if you're new and going down that road is a lot of your time and a lot of lunches and entertaining people and paying for marketing maybe with them and there's not a lot of return i'd rather have you build your business and then go find an equal partner so if you are getting deals from your company because it's where you're starting nothing wrong with that it's a smaller split but notes only a start that's not where you want to be if you're paying for leads it's only it starts not where you want to be the third model is if you make it you take it it's your business but i don't know where to start i'm new in mortgage and who do i talk to first and what do i say well here's what you want to do people need money for homes either buying a home selling a home or refinancing a home whether they use you or the local bank they're using somebody so why not use somebody that they know so the first thing that i would do if you're new or getting back into sales or tired of buying leads or tired of taking business from realtors or other people in your sales job you need to work with your book a business and just talk to them all hey it's ben i'm your cousin i'm in lending i'm with this company we're offering friends and family pricing what are you looking for what's your next move how can i help you and just have conversations and set yourself a goal of having blank conversations per day with your existing book of business then when you close enough deals to really go back to your partners then you can go back to them and say i have experience i'm demanding that you work with me because i'm the best fit for you and now you have something to go back whoever makes the whoever has the gold makes the rules it's kind of calling it like fu money that may sound bad but it's true having fu money is if you work for somebody that's not treating you right but you need the paycheck they can take advantage of you it's just the way the world works but then you win the lottery and you go back to your boss and say fu boss i don't need this kind of treatment anymore i got enough money in the bank to do what i want that's how you have to control your business in sales you must approach your business like you have fu money because no one should tell you where to go or how to do anything it's about you getting business for yourself now you get that is by working with people that already know like and trust you so my challenge for you people who are new in sales is not to go to the well and buy leads certainly don't go to a bunch of new partners who don't know you because it's going to be months to get deals from them and you'll have to pay them with your time and probably your money start with people in your book of business and i'm starting with my cell phone go through your cell phone if there's 500 contacts put those contacts into categories maybe it's siblings aunts and uncles friends from college people from the pta people that i met casually people who i don't know who they are but i met them somewhere if someone's in your phone they're very important and then put them into categories pick up the phone text them reach out let them know what you do people must know what you do and that you want to help them if you can let people know in your network here's what i do and i can help you this way if one in 10 people say yes or yes ma'am yes sir you've gotten a pretty good ratio if you have 600 people in your network and one in 10 and say let's go help me there's 60 opportunities start there because if you start there you'll find people that actually care so if you're new in sales and you want to find out where should you get your business don't go buy leads unless you have a war chest of money to outspend the churn don't go chase business partnerships unless you have production behind you people who know you like you and trust you will give you a chance to get the deal done and they won't be so overbearing when you make a mistake because we're new we all make mistakes so if you're new in sales work with people that know you like you and trust you it's more rewarding you'll make more money because the cost of doing their business for you is going to be zero that's all i got today keep tuning in and let's go crush it