up with the same prospects , even when they display disinterest or nonresponsiveness . The quality of all lists is fluid and constantly changing .
All the above is a recurring process throughout one ’ s career . As the process becomes welllubricated through practice and experience , you will expect increasing momentum in business until you have so much business that you need to stop marketing temporarily . Assimilate the new incoming business , then get back on track .
“ You locate a buyer ; you do not create a buyer .”
A daily action habit is to spend a significant portion of your day calling or emailing “ actives .” However , I call my friends more frequently than every 60 or 90 days . Repeated calls can be bothersome . Restart the process every 60 to 90 days .
People change jobs , and companies go out of business , show disinterest or disrespect , habitually fail to return phone calls or emails , retire , change names , change email addresses , change business locations , etc . Information contained in the prospect list requires constant updates and expansion . The “ active ” prospects in the network are the only ones we may reliably count in determining the size of our network or lead base . Also , even with a sizeable “ active ” lead base , we may lose 20 % to 30 % of them annually for all the reasons stated . “ Warm ” leads should become “ actives .”
Replacing “ dead leads ” with “ active leads ” is necessary . We may drop the prospect from your “ active ” list and discontinue active followup over a
reasonable time , such as 24 months of consistent followup . The other option is to email them occasionally using our standard email blast . Over time , they may again become “ active leads .”
The quality of a prospect list may disintegrate overnight . In 2006 , my company was primarily using direct mail . We mailed about 1,000,000 letterform solicitations each month . Then , by September 2007 , the market crashed , and the leadbased list quality disintegrated overnight . Thousands of institutional and private money lenders , real estate agents , loan agents , investors , and builders / developers left the industry . The quality of my lead list immediately went up in smoke . Poof !
Prepare for that event ! You will need to reconstruct a new list starting from day one . If the quality of your lead base crashes , consolidate the list down to your “ actives .” Email or call to verify that they are still there .
A poor strategy is repeatedly following
People change jobs , and companies go out of business , show disinterest or disrespect , habitually fail to return phone calls or emails , retire , change names , change email addresses , change business locations , etc . Information contained in the prospect list requires constant updates and expansion .
Thank you Dan Harkey Educator and Private Money Lending Consultant 949 533 8315 dan @ danharkey . com Visit www . danharkey . com
MEET DAN HARKEY
Dan is President and CEO at California Commercial Advisers , Inc . He consults on subjects of Business Growth & Private Money . Dan often creates articles interrelated to these subjects . He has been active in the real estate and financial services industry since 1972 & possesses a lifetime teaching credential for secondary and adult education . He has taught over 350 educational seminars on subjects related to real estate lending , private money lending & loan underwriting for commercial / industrial properties .
Contact Dan Today Mobile : 949.533.8315 Email : dan @ danharkey . com
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