I want to talk to you about the best business strategy for growing your business on the planet. It is called the Circle of Cash Flow. The reason why the Circle of Cash Flow is so important is because about 99% of mortgage loan originators and realtors are losing millions of dollars in added commissions because they don’t understand the intentional process of seeking referrals.
I don’t know if this speaks to you, but everywhere I go and every audience I speak to, when I ask how many of you could do a better job building your business around referrals, every hand goes up. And so, this is a really painful thing for me to realize about the market, and that is that people are working way too hard, and because they don’t understand this concept, they’re not making anywhere near the amount of money they could make in the most profitable way that they could make it.
There is nothing more valuable and nothing that converts at a higher level than a personal referral. So I created this video and blog post to help you understand a step by step process on how you can begin to activate the Circle of Cash Flow in everything you do. And I will make you this promise before I tell you this step by step solution. If you follow this, more and more of your business each and every day, week, month and year will be coming from people that already know and love and trust you, instead of people that you’ve got to try to get to know, love and trust you. Would you like a lead that doesn’t have a referral that sets you up as a trusted advisor, or would you like a referral, not even a lead, a referral from somebody that totally sets you up as a trusted advisor? I think the answer is you would like that.
How to Close Deals Faster & More Efficiently
Now before I tell you the step by step process, what’s in it for you? Well, what’s in it for you is, you ready? I’m just going to give you things that come right to the top of my head. Number one, they will trust you faster. If I have a referral from somebody who trusts me, the referee will trust me faster. Second thing, they will shop me less. They will not be engaged in trying to get the best financial deal because they have been referred by somebody who can talk about the value proposition that you’re going to be offering, that I would offer, so that the referral and the cost for doing business sync up. They shop you less. They negotiate you less, okay? They decide faster. They stay longer. They buy more and they repeat that kind of ownership every day of their life when they think about you and what you brought to the table.
Who Do You Know? Who Knows You You Want To Know?
So let me tell you the question. So, before I tell you the steps, here’s the question. Write this down. Who do I know? Who knows who I want to know? That’s the formula. Practice that question every single day. Now let’s take it specifically to a mortgage professional. You have this opportunity to meet with a borrower, right? And that borrower is going to need mortgage financing. And that borrower needs to trust you and love you and commit to using you because of the value and because of the interview and because of the promises that you make. Before we go any further, you need to understand in a very simple way that the Circle of Cash Flow using this one example would mean that that borrower would know eight other borrowers. Maybe more, maybe less, it doesn’t matter. But when people are actively pursuing acquisition of a home and need financing to make that acquisition work, generally, they’re talking to friends who are going to, or who have done that same thing in the last year or two.
Building Referrals For Your Business
So, we want to use their voice as a referral. And what you want to use the science of an embedded command. Here’s how an embedded command sounds. I’m excited that I get to help you make one of the biggest financial decisions that you’re ever going to make. And I want you to enjoy this process and I want it to be stress free, and I want you to feel very, very safe as we go through this. The reason why I want all this for you is because during the transaction and at the end a transaction, my team and I are going to tap into you for anybody that you may know that you value as a friend, that would value the same kind of experience that we are creating for you. And the reason we do that is because we build our business on referrals.
I don’t want my team and I to spend time looking for business. I want my team and I to spend time making sure the business we have, we take care of brilliantly. And that includes you. So, if between now and closing, anybody says “Hey, who do you know?” Just know that’s us reaching out, and we want to talk to you about who do you know that we could help deliver the same kind of outcome as such a powerful embedded command. One of my top producing Elite clients, his name is Marty Preston, and Marty does the borrower interview better than anybody that I’ve seen. And, one of the things he asks a borrower during the process, so this is again step by step, right? During the process he asks this question, “What has to happen between now and the time that we hand you your keys so that you feel 100% comfortable and confident to refer us to your friends, family, and colleagues?”
Knowing that answer allows your team, whether it’s a transaction coordinator, an LO, a personal assistant, whomever, allows them to ask the question on a regular basis. How are we doing in that thing you said needed to happen for you to be a hundred percent comfortable referring us to friends and family? I don’t want you to overdo it, but I want you to realize that the Circle of Cash Flow.
Why is the Circle of Cash Flow so effective?
It’s effective because it takes any relationship you have, and in a like-minded way gives you introduction to that same relationship. So what does that look like? I can take the borrower as we just discussed. I could take a realtor and put the realtor in the middle, and I could ask the realtor “Who are the other eight agents you know, now that we’ve been doing business together for a couple months, that you feel would benefit by the kind of relationship I’ve established with you?” That’s easy, right?
So if I can contact eight of the realtors, and I can contact them on the referral of this realtor, I don’t have call reluctance. I’m able to make the call. I’m able to convert higher to appointments. And because they’re referred to by an agent that they know, love and trust, they’re going to know love and trust me faster. I could ask my borrower for their asset statements from their financial manager. Brokerage statements, right? Top of the brokerage statement has the financial planner. I know the financial planner, I’m going to put the financial planner in the middle of the Circle of Cash Flow. And then I’m going to find eight more financial planners.
Seeing the Circle of Cash Flow in Action
I was just talking with Denise Donahues, one of our HTSA graduates, and last year she funded $200 million in volume using the Circle of Cash Flow. One of the things she does on every borrower application is she personally calls the financial planner. It sounds like this, “Hey, Mr. Financial planner, my name is Denise Donahue. I am working with your clients, Mr. and Mrs. Johnson. They are also my clients. They’ve applied for a mortgage loan, and I wanted to see if the product recommendation I’m offering them syncs up with you as their financial manager. Do you have a few minutes?”
Right there in that call, I’ll have a little dialogue. Why did I recommend the mortgage product I did? Does it sync up with what you think you’re doing with them on the asset side? In your mind as a money advisor, do you think the debt thing syncs up on your side as well because we do want to manage that debt? And if the answers are yes, then I’m going to say, “You know what? As soon as we close this transaction, I’d love to buy you lunch. I’d love to come by, learn what you’re looking for in your wealth team, of which one should be a mortgage planner, and see if there’s a basis for us to do business together.”
So, I know a guy right now that has 21 financial planners, and all you do is start with one. I know a guy right now that found a guy, that he was sitting next to on an airplane, and found out that he had 2,000 physician clients, and he was with a large accounting firm in the same city in which this mortgage professional worked. So, he goes ahead and sets up an appointment with this guy and now he’s got access to a 2,000 person physician database. That is the Circle of Cash Flow. And when we think about it, we have to do it for life. It’s just so powerful. The reason why you’ve got to create a five star experience on every borrower transaction, and make sure the seller in that transaction or the builder, make sure the listing agent in that transaction, make sure everybody is blown away by how you deliver the mortgage stress-free experience that they want to actively engage you.
So we have people right now that are in their third year of making this transition. And, last year they were able to generate 70% of their entire closed loan book of business for the year was coming from that Circle of Cash Flow strategy. We have a couple of people right now that by the end of this year, they will be at 90%. Here’s what I want you to understand about the Circle of Cash Flow. It is the most powerful, influential, effective, bankable idea ever on the planet. And it removes all the stress, all the cold calling, all the call reluctance. All that is gone.
Building Stronger Professional Relationships Through Brand Lock-In
And so, what’s in it for you? More relationships, more profitable relationships, faster yes, longer loyalty, more referrals, and what we call brand lock-in. And brand lock-in is, everybody you do business with never thinks about doing business with anybody else except for you. I can make you a promise right now. If you’re doing a hundred mortgage closings a year, you’re helping a hundred families a year, if you plug in the Circle of Cash Flow, your number this year could go to 200. In the next 12 months, you could double, triple or quadruple your volume. How do I know that? Because the same, same experience happens all the time.
Again, let me go back to Denise, who last year funded $200 million. When she came through the High Trust Sales Academy in 2013, she had only funded $7 million. She comes through the academy in December 2013, in 2014 she funds $35 million. That is a 500% growth in volume, and all she used was a Circle of Cash Flow that I just explained to you. Now, that $35 million in 2014, obviously last year was $200 million. She had about a seven year run up on just building and building and building and building. And now it’s amazing to think about her life experience when she gets to help $200 million worth of families buy in financial real estate.
Learn More About the Circle of Cashflow
If you want to learn more about odd’s patented success strategy called the Circle of Cash Flow™ and unleash a universe of referrals, download our guide for free. It’s the most powerful way to accelerate your referrals to hundreds and even thousands of potential buyers. This strategy is at the heart of Relationship Marketing and will do ten specific things for your business.
Want to Build Better Professional Relationships?
Super exciting. So please, please, please understand this concept. If you’ve never had a coach explain it to you or show you how to implement it, please take advantage of a free coaching consultation. Go to our coaching page and sign up, it’s 30 minute no obligation. Let’s talk to you about how we can help you make more money in less time and less stress.
That’s the high trust promise and this Circle of Cash Flow, I will promise you, is the most absolute bankable, reliable, harnessing technique that you could ever have to grow your business and scale at a level unbelievable. Circle of Cash Flow rocks.