Easy Ways to Generate Deal Flow

How much more successful would you be if you had lunch once a week with insanely successful entrepreneurs who share their biggest secrets on how they think and achieve success? Grab your seat at the table because this is business lunch with Roland Frazier and Ryan Deiss.

So I'm going to talk about getting clients, and this one is, is it's easy to get overwhelmed with all of the things that you can do to get clients. And so the thing that I want you to do is, as we're going through this, let it kind of wash over you and see which thing feels the best to you. And then as we're talking about these, whatever resonates with you, just make a note to yourself, oh, I like strategy number 17, or I like strategy number four. And that's what I'm going to ask you to do as your homework. So I'm gonna give you the how this week, and then I want you to pick one, pick one and focus on that this week, on getting deals so that you don't get overwhelmed. Because if you, if you just think, oh, my gosh, there's all this stuff that I can do, it's going to be really hard for you to get something actually done this week. And if you think about starting, you know, number one and number seven and number 12 and number 20, then you're not going to be focused enough in this short period of time that we really want this to be a sprint to make it happen. So as you're listening, be thinking about which one of these feels the best to me. And it may be like the first few are very, very simple. And so you can certainly start doing those things this week. But I really want you to think about just ideally, what's the one that you feel can move the needle and that resonates with you, that you feel good about, because we also have different platforms. So with that, we are talking about getting clients. And just to kind of summarize, the best clients are going to come from referral. Like, overwhelmingly, 59% come from referral. And compare that to the next highest categories of cold calling and branding and digital. You know, those are good, but there's just nothing like going in with somebody who wraps their arm around you and says, you know, this is my person. This person can help you like nobody else can. So I had a referral from a friend of mine a couple days ago for 25K. And we had a phone call, and on the call, my friend is saying, you gotta get Roland to do a half day with you. And he was another Client that I consulted with, he said, you gotta get Roland to do a half day with you because he helped me. Blah, blah, blah, blah, blah, blah, blah, blah. And I'm just on the call and this is like, that's, that's just such an easier way to get conversions for business. And the guy said, yeah, I'm in. Send me the agreement. And that's it right now. Yesterday I had another. I had a person who is in one of our masterminds come to me and said, my business partner needs help with a business that we're working on. And so he introduced him to me and said, and so I think we need to do this 25k consult. Like, that's just so easy. Whereas even though you'll see and we are having a lot of success with absolute cold traffic outreach to convert 25, 35 $40,000 clients. And Jay just, Jay Abraham just sent me over some things he's doing. He's spending about 10,000 digitally to get 100, and I think it's $120,000 client. And so those things are working and. But they're so much harder to me than just getting referred. And so a lot of the strategies that we'll talk about today will be referral based as well, like designed to get you positioned, but they've already got the audience to wrap their arm around and bring them in and say, this is my person. This, you got to do this. They're crazy not to do this. That's just going to be so, so much more helpful. So, so don't get too caught up in. I have to build a funnel, I have to build a webpage, all that, because I didn't for years. And, and any of these things that we talk about going forward that feel like they might be hard for you because you don't have a technical knowledge or anything like that, just know that that's just one option. So that's, that's just, you know, something I wanted you to think about. And then the next thing is in terms of where do the referrals come from? So when you're thinking about building your centers of influence, and I want to actually take some time to create some stuff for you on this. Past clients, as I mentioned, that's like, that's just so great because you've already delivered that benefit. Now here's one thing that Deanna is amazing at. Deanna will reach out from time to time to past clients and say, hey, how are things going? And is there anybody that you know that I might. That we might be able to help. Right. So just asking for those referrals in a very pleasant, touching base kind of way. So you're touching base, sincerely interested in how they're doing and if they, and maybe they'll say, I'm having this challenge with this and then maybe you can help them with that on the phone really quickly. That's a good investment of your time and it's good to help your past clients. Right. Then ask for referrals. It's amazing how few people do this and it really makes a difference. She even has some really cool emails that have sad puppy dog faces and things like that that perform ridiculously well. So we'll put together some information for you guys on that. And we've talked about accountants being good referrals. Financial advisors. And I would also throw in their wealth managers. Wealth managers are really, really great because they have higher level people. For somebody to have a wealth manager versus what's typically referred to as a financial advisor is, is a higher level. They typically have significantly higher net worth. They're almost, almost always entrepreneurs and very, very good sources. Attorneys. I get referrals, but that's a great place. Lenders. I don't get a ton of referrals from lenders, but that's mostly because I don't do a lot of work with lenders because most of the deals that we do don't really require commercial lenders. But if you have some or if you want to network with them, they can be good. But I think it's really nice to see like, what are the best type of referrals. Knowing that almost 40% of general consulting referrals come from past clients tells you, I mean, you, you all have people you've worked with before and even if you haven't worked with them as a consultant, even if it was a firm that you worked at as an employee, reaching out and telling them what you're doing, catching up. If there's some value you can add, great. And then closing with telling them what you're doing and asking for referrals, I think is really, really smart. And whether you feel comfortable paying referral fees or not, that's entirely up to you. I don't do referral fees. People generally just refer and they're happy. And I'm building relationships with all of those people anyway, so I don't ask for them when I connect them with people and they don't ask me. So that, that kind of works out. But there's nothing wrong with having that relationship as well. So whatever you feel comfortable with there. And then in terms of marketing tactics, just to kind of really hammer this home, you know, 41% of the best on. In addition to Referral, remember, about 40%, 39% of the clients come from referral. Right. Well, now, 42% of those referral clients. Excuse me, 41% of those referral clients come from networking. So networking is very, very good. Digital great. I think you find that retargeting, which, which Ed will probably get, Ed, if he's willing to do it, to do a little bit of a segment on how to do that, just kind of on the concept. You don't want to do it yourself. You want to hire somebody and then direct mail. Both Ed and I do quite a bit of direct mail, and that can be very effective as well, because a lot of people don't do it. Now, I'm going to argue for you to use the things that we're talking about before you really dive into these things other than networking. Networking to me is just the best ever. And networking can be done digitally. It doesn't have to be face to face at a rubber chicken dinner at some chamber of commerce meeting where you hate your life. It can be reaching out and just being involved in communities. And I want to really be just laser clear on this. Clients, you may already have things. So the pick your brain clients, that's the number one source. We've talked about this. Almost. Almost everybody, when I speak, I ask, I said, how many people in the last 90 days have had somebody say, can I pick your brain? It's almost impossible for somebody not to do that. It's such a popular saying. So that means that people are seeking you out for advice. And so as we talked about, you can kind of fall into this free advice treadmill. And it is. It's a hamster wheel because you give a little bit of advice and then they come back and they ask for more and then they go off. And nobody, like, there's never any big value that they get because you're sprinkling little pixie dust, bits of advice on them, and they're not invested in it. So these pick your brain people definitely are potential clients. So I want you to be sure that you respond, have that response ready to go, so that anybody that asks you if they can pick your brain or any version of that, you can say, absolutely, here's how I do this. So now I talk about setting this up as auto text in your phone. I'm going to walk you through how to do that. So this is really important, right? It will make you do this. If you, if you set this up, it'll make you actually do this. So if you have an iPhone, which, I mean, everyone should have an iPhone, if you don't have an iPhone, your homework is to go out and buy an iPhone. No, I'm just kidding. But Androids will do this too. But here's how it works, right? So the very first thing is you just go to settings on your phone, and I'm sure that the Android is a version of this as well. Go to Settings on your phone and then you will see that if you scroll down a little bit, there's a category called general. If you click on general, it will open up the general selections and you'll see down a little bit lower that there's a keyboard option. If you click on the keyboard option, then it will take you to this page and right off the bat you'll see that text replacement is one of the things that you can do. So I want you to click on text replacement, and then you'll see a little plus sign up at the top. And so if you click on that plus sign, then it will open up the ability for you to put a shortcut that when you type that shortcut, it will replace it with however much text you want. I don't even know what the limit is, but I've never run into it. So I do HDC for half day consult. Okay, So I just put as my shortcut hdc. And then for phrase I paste in this, I'd love the opportunity to work with, help you with that. The way I do it is a half day, it's 25,000, blah, blah, blah, blah, blah, right? The same thing that we all know. So I paste that in, I copy that out of my notes, I paste that in, and then I just click and paste it into the phrase place. Then I click save. And then when I'm in, this is WhatsApp and this works across every app. That's what's awesome. So if somebody reaches out to you on WhatsApp, or somebody reaches out to you on Facebook or Facebook messenger or Instagram or wherever, or even in an email, right? You can just hit hdc and then it will give you the option to hit the space bar. It'll suggest this long thing or at least the first few lines of it, and it pastes the whole thing in, right? So then you've got, you've got this reply that only takes you a second. Now, I do personalize it. You can see it says consulting blurb. Thanks, Mike. So I just basically change that to, you know, hi or hello or whatever they greeted me with and their name. But it saves so much time. And it means that you'll do this because if you have to type this message, and I know because I used to type this all out, right? And sometimes I'd be like, I'm too busy, right? But if you do this, so you just type HDC to anybody that's asking if they can pick your brain, get advice, buy you lunch, buy coffee, any of those kinds of things, then you'll get into the habit of replying and you'll be able to reply to a lot of them. As your deal flow increases and the brain pickers come in greater throngs to you, you'll be able to handle it and you'll be excited about it because you'll see some of those starting to turn into business. Now, a lot of brain pickers will not turn into business. So don't be sad or depressed if they don't, but be excited. Because every one of those that you respond with this message to, you've done a couple of things. One is you've drawn a line in the sand as to your value and they know what you charge and they know that you'll insist on doing that. And they know not to come back for free, which will mean it's a victory for you because it's going to free up your time, even in responding, right? Just in responding. So think about if you spent eight minutes responding to 10 of these a week, that's an 80 minute per week recovery of time savings. Right? That's a lot. That's a lot. So the other thing it will do is that some of these will actually take you up on it, which is great. And some of them will say, not now, but they'll be interested in coming back later. And so that pipeline will start building of people that you've put out there. And I have people come back from a couple years ago that just like it wasn't right then, but it's right now. Which goes back to why you want to stay in touch with, with people as well. But just this alone to me will be so good for you in drawing a line in the sand saying, I'm not doing this for free. I am here to help you and I want to help you. And if you notice the text, it says if this isn't a fit for you, it's no problem. Right? So you're not even pissing them off. You're not doing anything except saying, I just don't have time. This is the way I do that. Now, you can also do this in a sequenced approach. So this is what Ed is really, really brilliant at. And you can create a chatbot if you want, but please don't create a chatbot if you don't already have customers through one of these other ways because it's just going to take more time than you need to take. You can just do what I showed you with the text replacement type HDC and be done right. If you're going to do something longer, then you're going to go more with, hey, I'd like the opportunity to work with you and help you with you. What are the biggest challenges you're facing with respect to that right now? So now this is going to lead them in. This requires more work, but it will have a higher conversion rate because you're getting them engaged. Right. I've got enough people that are asking, can I pick my brain that I can just respond with that? And I don't need to do a nurture campaign. This is more like that. So you can set this up, like I said, as a chatbot, or you can set this up and just, I mean you can just write this down and reply or you can create multiple auto texts. You could do HDC1, HDC2, HDC3 and follow this sequence so you didn't have to spend a lot of time typing this out because it's the same thing pretty much every time. So thanks, John or Mike or Mary. I'd love the opportunity to work with you to help you with that. Notice it's generic. What are the biggest challenges you're facing with respect to it right now? After they reply, you say thanks again. First name. What would you say you believe is calling? You'll see that this causing this. You'll see that this is exactly what I tell you guys to talk about, to give advice without giving advice. What would you say you believe is causing whatever the challenges? I usually just cut and paste them that you told me about in your last reply right now, then they'll reply and say, these are the things that are causing. I'll do the magic wand question. So thanks. If you could wave a magic wand and fix all of the things that they told you are their biggest problems, what would the results look like? This is future pacing them so that you can say, gosh, man, if I could get these things taken care of, then it would be amazing because I'd have this and this and this and this. So now they're selling themselves on why they need to invest in solving these challenges. Then. Okay, let me just be sure I understand we're just restating now, right? And we're restating with the magic wand. So. Okay, let me just be sure I understand everything. So far your biggest challenges are paste in the challenges right now you think the primary causes of those challenges are the causes they told you an ideal fix of those challenges would likely restate the benefits that they said. Is that right? You're just confirming and showing that you're listening to what they have to say, which most people don't. After their reply, then you go with the standard thing. This is the way I do this. Except I restate their magic wand outcome. I'd love the opportunity to work together with you to help you achieve this ideal result. You want to achieve the way that I do. That's with the half day consult, et cetera, et cetera. And then that is a nurtured approach. And like I said, you can set this up with HDC 1, 2, 3, 4, 5 so that you've got these replies kind of pre typed. You'll still be cutting and pasting. So there's more work than just doing the standard that I, that I send out. But, but I think it's, it's very, very effective and you're definitely going to get a lot more conversions.

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