Transition Man and Friends Success Series Interview of James Malinchak

By Rubin Price

"The Art of Networking"

Part 3 of 8

Johnny: So you're saying one of those keys to being a master networker is being somebody who's there to solve people's problems.

James: Right, especially if you want to be a success in business. We're in the people business. We're in the relationship business. You're not in a management business. You're not in a sales business. You're not an entrepreneur. You're not in an accounting business. You're not in the marketing business. We are all in one business and that business is the people business. People don't care how much you know until they know how much you care about them and if you really want to get a lot of people to attract to you, they want to do business with you...

Johnny: Yes

James: Learn how to solve their problems.

Johnny: Oh, definitely.

James: Learn how to give them what they're hoping to get.

Johnny: Ok. That's one of the new rules. Could you share what another rule is?

James: Yes, absolutely. I am just so thrilled to be able to share this with you. Another rule is that you really have to figure out how to position yourself.

Johnny: Position? Precisely what does it mean, position yourself?

James: Essentially positioning means how you are thought of in the minds of prospects or customers. If somebody were to think of you and your business how do they think of you? They think of you as this is an enthusiastic realtor, this person, they sold my property in a week. It was amazing. They were courteous. They had great customer service. They called me and followed up with me. Or, do they think of you as "Oh God, you know what, yes that realtor sold my house but man it was 60 days and that guy never called me back and you know what he said I was going to acquire a free something, something if I..."

I will give you a prime example. I used a realtor to buy a house not too long ago that I was buying. This guy really pitched me on good stuff. "Oh man when I sell the house for you and you have to move I bought a whole truck that is my own truck and I'll have some guys to come out and move your stuff for you. You don't have to pay movers nothing. Then just as a special thank you I have a masseuse who is going to come over after you're done moving everything in and get settled and they are going to give you a two hour massage, all paid for by me. I've got new mailing labels printed up for you already with your new address and I picture of your new house and blah, blah, blah." I have yet to see any one of those things.

Now here's what this person doesn't realize. I know lots of people and I have a large network and refer lots of people. I live in Las Vegas and I refer lots of people to other business people here. Can you imagine how much business this individual is losing out on? I've actually referred 3 people within the last 30 days to a different realtor.

Johnny: Wow, yes.

James: My realtor that I had, I think his commission was about eight or nine thousand dollars off of this little sale. Lets say that eight thousand dollars times three that I referred to someone else. He lost out on twenty-four thousand dollars because in my mind he had positioned incorrectly as a realtor because he did not fulfill the promises that he said he would fulfill.

Johnny: Yes, definitely.

James: That's a negative position. What I talk about is you need to figure out. Most people in business they just go and do business. That's ridiculous. That's silly. You need to sit down and think about this things. How would you like to be thought of a.k.a positioned in the minds of prospects and customers?

Another part of that positioning is what sort of little tag line or slogan or something that you can do, may be a gift you give or anything that you can do that makes you stick out in their mind. What makes you different? If you're a realtor maybe you provide everyone with a little booklet on the ten things you have to know before selecting a realtor. Nobody else is doing that. Essentially you're educating them. You're giving them a little gift, probably something you typed up on your computer and called it a little booklet, but you're going the extra mile. You're doing one thing that's different.

Now if someone asks you, "hey, how about that realtor you had?" I had this realtor who was dynamic. What I say is "Oh man this guy was dynamic. His customer service was excellent. Everything that he/she said that he/she would do they followed up on and did. Check this out. They also gave me this booklet before I ever decided to work with them that educated me on the ten things that I needed to know before choosing a realtor that I didn't know before.

Here's the trick. Every realtor or every businessperson listening to this tape ought to be doing this. Nobody ever educates the prospects or customers on the seven things they have to know before selecting a dry cleaner. The seven things or ten things they should know before selecting a realtor. The 10 things you should know before buying life insurance. If you will just simply do that thing and you educate them on 10 real important points then the perception is "Man this person truly cares about helping other people because they're teaching people about these 10 things". I want to go with that person.

Johnny: Right

Part 4 of 8 can be found online...

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