How to Remove Doubt and Uncertainty | #TomFerryShow 90

TL;DR

Learn to eliminate doubt with a daily business strategy.

Transcript

for over 20 years I've dedicated my life to bringing you the very best selling marketing and business building strategies to keep your business thriving get ready to experience the success you've been searching for Welcome to the Tom Ferry show hey everybody Welcome to the Tom Ferry Show episode 90 thank you so much for all the comments and the fee... Read More

Key Insights

• Tom Ferry emphasizes the importance of knowing your 'daily number' to bring certainty and success to your real estate business.
• The 'daily number' is a formula that helps determine how many conversations you need to have to achieve your transaction goals.
• Ferry suggests breaking down yearly goals into daily tasks, advocating for 1,800 conversations annually to meet a target of 36 transactions.
• He advises dividing the 1,800 conversations across 10 months, resulting in 180 conversations per month, or approximately eight per day.
• Half of the daily conversations should be with your existing database, nurturing relationships and providing value.
• The remaining conversations should be split between new leads and follow-ups, expanding your network and maintaining connections.
• Ferry stresses the need for discipline and consistency, urging viewers to start implementing these strategies immediately to prepare for the new year.
• He highlights the importance of adapting to market uncertainties by focusing on controllable aspects of the business, such as daily interactions.

Questions & Answers

Q: What is the main concept introduced in this episode?

The main concept introduced is the 'daily number,' a strategic approach to eliminate doubt and ensure business success by focusing on a specific number of daily conversations. This method is designed to provide certainty and structure in achieving transaction goals.

Q: How does Tom Ferry suggest calculating the daily number?

Tom Ferry suggests calculating the daily number by first determining your annual transaction goal, then multiplying it by 50 (the average number of conversations needed for one transaction). This total is divided over 10 months, resulting in a monthly and then daily target of conversations.

Q: Why does Ferry emphasize the importance of starting the strategy now?

Ferry emphasizes starting the strategy now to build the necessary discipline and momentum before the new year. By practicing the daily number approach immediately, individuals can enter the new year already accustomed to the routine, thus ensuring a strong start and consistent progress.

Q: What types of conversations should be included in the daily number?

The daily number should include two types of conversations: those with your existing database, to nurture relationships and provide value, and those with new leads, to expand your network. Follow-up conversations are also essential to maintaining and developing ongoing connections.

Q: How does this strategy help in uncertain markets?

This strategy helps in uncertain markets by focusing on controllable aspects of the business. By consistently engaging in targeted conversations, individuals can create their own certainty and reduce reliance on unpredictable market conditions, thus stabilizing their business performance.

Q: What is the significance of the 1,800 conversations target?

The target of 1,800 conversations is significant because it represents the total number of interactions needed annually to achieve 36 transactions, based on the average conversion rate. This target provides a clear, actionable goal that guides daily business activities and progress measurement.

Q: How does Ferry recommend dividing daily conversations?

Ferry recommends dividing daily conversations evenly between existing clients and new leads. He suggests four conversations with each group, ensuring a balanced approach that nurtures current relationships while also seeking new opportunities.

Q: What is the role of discipline in implementing the daily number strategy?

Discipline plays a crucial role in implementing the daily number strategy, as it requires consistent daily effort and adherence to the routine. This disciplined approach ensures that the necessary conversations are conducted regularly, leading to steady progress toward achieving the annual transaction goal.

Summary & Key Takeaways

• Tom Ferry introduces the concept of a 'daily number' as a way to ensure business success by eliminating doubt and uncertainty. He provides a formula to calculate this number based on transaction goals, emphasizing the importance of regular, targeted conversations.

• The episode breaks down the process of achieving business goals into manageable daily tasks. Ferry suggests having eight meaningful conversations a day, split between existing clients and new leads, to reach a target of 36 transactions annually.

• Ferry encourages viewers to start implementing the daily number strategy immediately, to build momentum and discipline before the new year. He underlines the role of consistent communication in creating business certainty amidst market fluctuations.