Transforming Business BrokerageHow To Be The One
They ChooseGlen J. Cooper, CBI, CBA, BVAL
President, Maine Business Brokers
217 Commercial Street, Suite 401 • Post Office Box 7346
Portland, Maine 04112-7346
www.MaineBusinessBrokers.com
tel: 207-775-1957 • fax: 207-775-6573
Questions are Alive. Answers are Dead.
• What’s Wrong? Does It Need
Transforming?
• What Can We Do To Transform It?
• What Do We Need to Learn?
• Who Are We Becoming?
What’s Wrong? Does It Need Transforming?
• Brokers/Agents are frustrated!
60% fail in first 9 months?
• Seller Clients are frustrated!
Only 20% actually sell?
• Buyer Prospects are frustrated!
Only 2% ever buy?
Brokers are Frustrated!
• Not Enough Money
• No Predictability
• No Standard Methods
• Not Much Training
• No Respect
Sellers are Frustrated!
• Don’t Know How to Sell
• Don’t Know When to Sell
• Don’t Know What It’s Worth
• Fear of Broker
• Fear of Confidentiality Breach
Buyers are Frustrated!
• Don’t Know How to Buy
• Don’t Know When to Buy
• Don’t Know What It’s Worth
• Fear of Broker
• Fear of Making Mistake
What Can We Do?
• We CAN’T solve problems
• We CAN address the frustrations
by transforming the process
- Transforming the process creates hope
- Hope leads to right action
- Right action leads to empowerment
- Empowerment relieves frustrations
Six Transforming Steps
• Choose Our Market
• Develop Our Promise
• Create Systems to Generate Leads
• Create Systems to Convert Leads to
Listings
• Create Systems to Convert Listings to Sales
• Create Systems to Deliver Our Promise
• Segment the Market
• Focus Our Attention on Our
Intention
• Assess Our Own Strengths
• Assess Market Perceptions
• Run With Our Strengths
Choose Our Market
Develop Our Promise
• What Frustrates Our Market?
• What Would We Like to Promise?
• What Dare We Promise?
• How Will We Experience It?
• How Can We Deliver It?
Create Systems to Generate Leads
• What Does the Firm Need to Do?
• What Does the Agent Need to
Do?
• Who’s Making Initial Contact?
• Who’s Following Up?
• What Works and What Doesn’t?
Create Systems to Convert Leads to Listings
• 1st Contact Agenda
• 1st Meeting Agenda
• 2nd Meeting Agenda
• Listing Presentations
• What Works & What Doesn’t?
Create Systems to Convert Listings to Sales
• Valuation Systems
• Confidentiality Systems
• Marketing Systems
• Screening & Qualifying Systems
• Negotiating & Closing Systems
Create Systems to Deliver Our Promise
• Primary Aim & Mission Statement
• Goals, Objectives, Strategies &
Tactics
• Standards of Operation
• Policies & Procedures
• Training & Recruiting
What Do We Need to Learn?
• Michael Gerber’s Entrepreneurial
Myth
• Working “On” vs. Working “In”
• The “System” Is the Solution
• Each Other’s Stories
• What’s Easy; What’s Not
Michael Gerber’sEntrepreneurial Myth
• The Easy Book: “The E-Myth Revisited”
• The Big Book: “E-Myth Mastery”
• The Best Audio: “The E-Myth Seminar”
• The Website: “E-Myth.com”
• Why I Recommend Gerber as a Source
Working “On” vs. Working “In”
• Purpose of Our Business
• Entrepreneurs, Managers &
Technicians
• The Viewpoint We Need
• The Skills We Need
• 7 Areas of Focus
The “System” Is the Solution
• No Matter What Size Business
• Gerber’s LensCrafters® Example
• Gerber’s FedEx® Example
• Gerber’s McDonald’s® Example
• Business Brokerage Systems
Each Other’s Stories
• How We Define Our Market
• What’s Our Big Idea?
• What Are Our Best Systems?
• What We Think Is Still Wrong
• What We’re Doing About It
What’s Easy; What’s Not
• Understanding the Message:
Easy
• Innovation: Easy
• Quantification: Hard
• Orchestration: Harder
• Documentation: Hardest
Who Are We Becoming?
• What’s Our Primary Aim?
• What’s Our Mission?
• What’s the Work?
• Where’s the Money?
• What Will Our Business Brokerage
Practice Look Like When It’s
Finished?
What’s Our Primary Aim?
• The Purpose of Our Business
Is Our Primary Aim.
• Are We Adding or Creating Value?
• Are We Constantly Improving?
• What Are Our Unifying Principles?
What’s Our Mission?
• Our Promise Is Our Mission.
• Does Our Promise Touch Us?
– So we can proclaim it , live it and
enjoy being with people who share it
• Does Our Promise Touch Others?
– So they will join us, refer to us and find
compelling reasons to do business with us.
What’s the Work?
• Adapting & Taking the Six Steps
• Defining & Redefining Our Markets
• Telling & Retelling Our Story
• Working & Reworking Our Systems
• Educating & Re-educating Ourselves
Where’s the Money?
• How Many Clients Do We Need?
• How Many Client Presentations?
• How Many Appointments?
• How Many Leads?
• The Money Is In Following Our
Systems!
What Will Our Practice Look Like When It’s Finished?● Visionary, ethical, effective, efficient
● School for stretching, testing, enlarging
● Money making machine
● Fun place to go to work
● Broker of choice for the market we choose
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