I want to share with you the Rule of 52 – and this is really about referrals.
The #1 sales person in the world is a guy named Joe Girard; how do I know he’s #1? It was in the Guinness Book of World Records – and they are always right!
They called him the #1 salesman that has ever lived.
Joe Girard is said to have sold over 30,000 cars.
Think about that.
He’s also the only sales person in the Automobile Hall of Fame; so he’s a pretty successful guy any way you want to slice it.
He lives by what’s called the “Rule of 52”.
The Rule of 52 is that we each know an average of 52 people.
This is the average attendance at a wedding or a funeral, which means we all know an average of 52 people.
When you ask for a referral, they could open you up to 52 people.
Let’s say, when you sell one person, it’s $2,000 in commissions.
You can get to one person and, if you’re starting with yourself, you know 52 people.
So let’s say you start with one person and they know 52 people, they can open you up to a potential commission of $104,000.
Let’s say you only get half of that – that’s great, you just made $52,000.
Let’s say you only get a quarter of those, now you’ve got $25,000.
…and you are just getting started.
Now those 52 would open you up to 2,704 people – and those 2,704 people have a potential commission of $5.4 million.
Now I know you are probably saying, “Matt that sounds outlandish”. But we started with one person; start with a bite-size chunk and get one referral, two referrals.
Let’s say you just get 25% of that, now you are at 700. With 700, you’re at $1.4 million in target.
That’s because you had a system and process that you have to follow.
You are strategically and methodically following a system and process.
So how do you get referrals?
I’m going to give you my complete system right now on a silver platter. Here it is:
In our business, we do a two-step close typically – and in that script we ask for referrals four times.
Then the fifth time, we actually put the offer in front of them to secure the referral.
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