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Traits of a Successful Broker · Industrial Advisors

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  I've always thought there's five things and if a broker can master
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  two of them, they can make money.
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  Right?
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  If they can master three of them be they're elite.
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  I've seen very few people master four, and I don't think I've
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  ever met somebody to master five.
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  Right?
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  So.
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  Uh, welcome to our Industrial Advisors podcast.
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  We are live at IMC in Indianapolis, and we're doing another five minute Friday
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  on, uh, traits of a successful broker.
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  So Matt, let's start with you.
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  What are some of the things that you think make a successful broker in the space?
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  Yeah, so I've always thought there's five things, and if a broker can master
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  two of them, they can make money, right?
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  If they can master three of them be they're elite.
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  I've seen very few people master four, and I don't think I've
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  ever met somebody to master five.
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  Right?
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  So the traits are work ethic.
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  The ability to do analytics and you don't have to do any, all of these.
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  Right.
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  Two of them really, really well.
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  Exactly.
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  Yeah.
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  Networking, which I always say you're the master of.
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  And then sales and the ability to not only sell, but understand how
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  humans interact with salespeople and how to improve that process.
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  And then finally, smart and creative, being able to.
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  Think ahead of the industry, see trends, and be creative and change
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  in technology, whatever it is.
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  Right.
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  So again, if you can really do well at two of 'em, and I always say work ethics easy.
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  You have to have that.
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  You have, if you don't have that right, you have to, you won't buy some other one.
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  Yeah.
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  Out of the five and you can make money.
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  Yeah.
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  Okay.
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  Find a third one in your elite.
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  Yeah.
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  Go to four and you're gonna make tens of millions of dollars.
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  Yeah.
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  Right?
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  Yeah.
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  Kyle, what do you think?
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  Yeah, I think another kind of ties into work ethic is discipline, right?
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  Because Yes, it, it's so hard and you're great at that.
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  Appreciate that.
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  Yeah.
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  Yeah.
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  Well, and having a plan, right?
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  Yeah.
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  Having a plan.
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  But it's so like it, it sounds great to say, I'm gonna come in at six,
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  I'm gonna leave the five every day.
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  I'm gonna grind to those 11 hours.
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  But motivation comes and goes, right?
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  That you can say that at a time when you're motivated, but at a time when
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  you're not, you still have to have discipline and come in and do the things
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  you say you're gonna do when motivation is well, which is why discipline is so much
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  more important, I think, than motivation.
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  So that tying in the work ethic, having that discipline behind the
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  work ethic is super important as well.
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  And then I think too, having a competitive nature, a drive is really important.
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  I think we see a lot of brokers that are former athletes.
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  Yeah, they just grew up with that competitive drive, but it's
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  a very competitive industry.
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  So to have that desire to win and to love to compete, I think
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  is really important as well.
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  Um, and then, yeah, I mean with the creative aspect
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  that you mentioned that no.
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  We harp on it all the time.
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  Brokers just monetize, right?
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  So how, how are you gonna make yourself stand out amongst your
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  competition and be different?
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  What are you gonna do to be different?
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  I think are three really important things.
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  Yeah.
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  All, all those things are, are great.
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  Um, you know, you make the point about winning, wanting to win.
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  You know, I, when we tell people that are getting in the industry, we told you
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  this, when you get into the industry.
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  Be obsessed with winning.
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  The money will come when you win.
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  Right?
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  So like, winning matters.
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  Okay.
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  Find a way to be different and win.
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  So that And the wins.
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  Yeah.
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  Yeah, absolutely.
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  Uh, and stack 'em.
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  Yeah.
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  Um, uh, the other couple things that I, that I would just add to all of those
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  great things, 'cause I would say those as well, you know, it's still a, uh,
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  it's, it's a people business, right?
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  So, you know, being authentic when you're dealing with people.
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  Your clients know and wanna work with people that are authentic, transparent.
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  And so that's a really important trait.
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  I think I look at some of the most successful brokers,
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  they're really authentic, right?
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  Can they be trusted?
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  All of that stuff.
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  Are they likable?
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  Right?
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  Like, you wanna work with clients that, that, that you, like clients
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  wanna work with brokers that they like.
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  That's right.
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  Uh, and then finally, you know, just obviously passion matters, right?
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  Like, do you have a real passion?
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  For the, for the industry.
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  You know, I remember when I started out I would see like a truck with
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  a phone number on it and I would just call the number right away.
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  'cause I'd be like, I don't want someone else calling these guys before I do,
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  you know, I'm gonna call it, these guys probably have a warehouse somewhere.
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  And so, you know, like having the passion for what you do obviously matters is Yes.
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  So Bill's win was always getting the guy in the car.
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  Yeah.
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  Get the guy in the we do room and then, and then they're yours.
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  Yeah.
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  So anyway, that's uh.
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  There are some good, good concepts I think that, that make successful
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  brokers, so thanks for sharing your shot.
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  I thought I, I do.
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  Thank you guys very much.
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  All right.
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  There we go.
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  Happy Friday.