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Creating New Sales Streams During Hard Times

Updated: May 8, 2023

As markets get tighter and consumers slow down, it can create a panic within your team. Opportunity knocks as everyone is trying to figure out what to do next. Don't panic with them, just follow these few simple steps and get your team off the ground and moving at incredible speeds.

Step 1: Stop, Drop, and Get Clear

Similar to a fire drill, you must remain calm in the heat of the inferno. Take a moment to stop panic prospecting, drop the busy work and get clear on what the next steps must be. Start with the end result in mind and work backwards.

Clarity is king and will save many tears, pain, time and stress. You have to know what the mission is, other than make more sales and money. You need to have a specific outcome drilled down. For example: I will take our declining sales and turn them to an incline by two additional sales per agent, every month/week/day. This will enable us to invest in marketing to create an additional 5 sales. This is not the stage of How, instead What needs to happen.

Step 2: Maximize What You Are Already Doing Right.

Now that we know what needs to happen to reach your goals, let's explore the best way to get there. I love exploring the path of least resistance first, because starting with the simplest solution is typically the best. If you have a sales funnel or system that is already working (email lists, center of influence, open houses, paid prospecting, social media, etc.) look to see if any of these can be utilized to the fullest degree.

Are you being consistent in your email list with relevant and valuable information? Are paid leads answered and followed up within minutes of the initial interaction? Are you networking regularly without regard to what you are getting out of it? Really have an honest conversation with yourself about what you are or not doing. If the answer is your current funnels are maximized, continue to step 3.

Step 3: Find New Roads to Pave the Way!

You have identified what needs to happen and maximized what you are doing right, what's next? There is inspiration all around you for business, you just need to take notice of what is likely to come and start creating around that,

When home sales started to slow down, I started to look at untapped options, before the industry caught on. At the beginning of Covid-19, I realized this crazy market was not going to be sustainable and asked," What will be the needs of people at the end of this and how does that affect their housing?" I realized early on that pre-foreclosures and foreclosures are sure to come back and divorces could become very likely. I became certified in short sales and pre-foreclosures while the market did not have a demand for it yet.

I created a divorce housing survival guide and positioned myself as the pre-foreclosure specialist which allowed more referrals in these areas. Holding classes, webinars, and collaborating with similar professionals and organizations are all ways to get your mission and new funnel going.

Keep in mind new roads take longer than maximizing what you're already doing right and are not an instant fix. New roads are about the long game with an end result in mind, and can still start to yield results in 6 months or less.

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