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Why Real Estate Partnerships Fail: Patrick Precourt Reveals How to Create Thriving Collaborations · Partner & Profit Podcast

• 0:00
  SPEAKER_02: Most people partnership out of fear, right?
• 0:02
  SPEAKER_02: They want somebody else to bear the burden of what they're about to do, so they're not doing it alone.
• 0:07
  SPEAKER_02: The unsuccessful are unwilling to do, are unwilling to learn the habits of the successful.
• 0:12
  SPEAKER_02: Typically, people always default to say, I need more.
• 0:15
  SPEAKER_02: It's only information until you convert it to knowledge through execution.
• 0:21
  SPEAKER_02: Do you want to be chasing or do you want them to come to you?
• 0:24
  SPEAKER_02: Which one's going to be a better client to work with?
• 0:27
  SPEAKER_01: Yeah.
• 0:28
  SPEAKER_01: What's up, everybody?
• 0:29
  SPEAKER_01: Grant Wise here.
• 0:30
  SPEAKER_01: Welcome back to the Partner Profit Podcast.
• 0:32
  SPEAKER_01: Excited for you all to meet my guests today.
• 0:34
  SPEAKER_01: I've got Patrick Precourt here.
• 0:36
  SPEAKER_01: Patrick, man, thanks for being on the show.
• 0:38
  SPEAKER_02: Hey, man, been looking forward to this, Grant.
• 0:39
  SPEAKER_02: Thanks for having me on, brother.
• 0:41
  SPEAKER_01: Of course, yeah.
• 0:42
  SPEAKER_01: For people that maybe don't listen to this and don't know much about you, let's give them a little bit of the backstory.
• 0:46
  SPEAKER_01: How'd you get to where you are today?
• 0:47
  SPEAKER_02: Oh, wow.
• 0:48
  SPEAKER_02: Well, um, I know a lot of our listeners here are real estate.
• 0:51
  SPEAKER_02: So you know, I've been in real estate uh pretty much all of my adult life.
• 0:54
  SPEAKER_02: Um, started in the contracting space, home building space, home framing space, home remodeling, then uh worked in a family home inspection business for many, many years, and then on a tail end of that, that was probably 10 years of my life.
• 1:05
  SPEAKER_02: Tail end of that got into real estate investment through investors I was doing home inspections for.
• 1:10
  SPEAKER_02: So that's like the late 90s, right?
• 1:12
  SPEAKER_02: And I got hot and heavy in the real estate investment space in the 2000s.
• 1:16
  SPEAKER_02: Uh, I got in real estate investment education, so about 10, 12 years we spent exclusively focused on short sales from about 2000 to about, you know, about 2000 to 2010, 12 in that area when it really unwound.
• 1:29
  SPEAKER_02: Got an education space in the middle.
• 1:31
  SPEAKER_02: That was one of the founding members of one of the largest educational platforms in the US.
• 1:35
  SPEAKER_02: And during that time got more involved in the psychology and behavior of what it takes people to be successful in what we do.
• 1:42
  SPEAKER_02: And it came about in the sense that we provided the same education, which was an outstanding education grant, but different people got different results, actually wild, wildly different results.
• 1:52
  SPEAKER_02: As a matter of fact, I'll just be honest, very few, less than 10%, got outstanding results, but they got insanely outstanding results.
• 2:00
  SPEAKER_02: And then there was a sharp drop-off to where everybody else sat.
• 2:03
  SPEAKER_02: So it forced me to dive more into understanding human behavior, uh, what makes us do what we do and and not do, especially when we know when we know what to do, we know like we deeply desire the result, we know how to do it, yet we still don't get ourselves to perform the behavior consistently.
• 2:22
  SPEAKER_02: And that's the space I in today.
• 2:23
  SPEAKER_02: So we owned a gym.
• 2:24
  SPEAKER_02: Uh we opened that in 2012 as well.
• 2:26
  SPEAKER_02: It's kind of as I was winding down the education space and ran that for 13 years, and we became known as the gym that gets people results.
• 2:34
  SPEAKER_02: I'm not a trainer, uh, I don't know a nutritionalist or anything like that.
• 2:38
  SPEAKER_02: But when you bring the behavioral aspect into it, um with a little bit of information, you can get people massive results.
• 2:46
  SPEAKER_02: So, anyways, that all kind of fast-forwards to where we are today.
• 2:48
  SPEAKER_02: We have a number of different programs that we uh execute in that space, and you know, around all of that, husband and and and dad have been married 33 years with three amazing kids, and that's always been a top priority of mine, um, keeping that out in front of everything we do.
• 3:01
  SPEAKER_01: Love it, man.
• 3:02
  SPEAKER_01: Yeah, it's fascinating to me.
• 3:04
  SPEAKER_01: Uh, I'm a student of human behavior.
• 3:06
  SPEAKER_01: It's one of the most interesting things in the world to me.
• 3:08
  SPEAKER_01: Of course, marketing and advertising and sales, which is all my background, it's all human behavior.
• 3:13
  SPEAKER_01: I'm interested to know first a couple of things.
• 3:16
  SPEAKER_01: What what what did you find?
• 3:17
  SPEAKER_01: Like, what was it that you found was the trigger that really took people from you, you know, maybe average to good to great to excellent?
• 3:24
  SPEAKER_02: Wow, so if we were to really, really simplify this, it'd be in the space of we as entrepreneurs, when we're not producing results, we're not getting results, we always default to one thing that we need more: knowledge, education, resources, funding, partners, whatever.
• 3:40
  SPEAKER_02: We we reach out, look for more instead of reaching in.
• 3:43
  SPEAKER_02: And I have found that 99.9% of the time the answer is not out there, not outside the window, it's in the mirror every single time, grant.
• 3:53
  SPEAKER_02: Now that answers it at a very surface level.
• 3:55
  SPEAKER_02: There was a study done, The Secret to Success, and it was done in the 1940s, and it was called the Common Denominator of Success.
• 4:04
  SPEAKER_02: I think that was the title to it.
• 4:06
  SPEAKER_02: It was done in the life insurance industry, door-to-door life insurance sales, okay, which is 1940s, you know, World War I or rather World War II.
• 4:16
  SPEAKER_02: It's an interesting period of time, right?
• 4:18
  SPEAKER_02: But the study was said it was to determine out of these, you know, 4,000 or so life insurance salesmen, what was a common denominator of that 10% that are ruthlessly successful, where the other 90% are marginally at best successful, right?
• 4:34
  SPEAKER_02: And it came down to a very, very simple understanding that the successful are, well the unsuccessful are unwilling to do, are unwilling to learn the habits of the successful.
• 4:45
  SPEAKER_02: Now, that's like duh, no kidding, right?
• 4:48
  SPEAKER_02: You say, well, well, what was the number one habit that drove success?
• 4:52
  SPEAKER_02: It was our willingness to delay, to delay winning, to delay the need for gratification now.
• 4:59
  SPEAKER_02: So bring that into like the weight loss space.
• 5:03
  SPEAKER_02: Are you willing to discipline yourself, eat foods maybe that you don't even like, that aren't emotionally satisfying now, and delay the gratification of weight loss later, or do you need that immediate gratification?
• 5:14
  SPEAKER_02: You track with me on that?
• 5:16
  SPEAKER_02: Same thing in the business.
• 5:17
  SPEAKER_02: Have you ever seen somebody have immediate success, early success in a business?
• 5:20
  SPEAKER_02: And instead of taking all that money, resource, time, energy, and dumping it right back in the business, they go out and buy a fancy car and they're freaking broke again.
• 5:28
  SPEAKER_02: Don't have the money to support the business, right?
• 5:31
  SPEAKER_02: So um it's the recognition that the answers are in here, they're not out there.
• 5:36
  SPEAKER_02: And then number two, um, our willingness to delay gratification, to put in the work first in order to receive the thing that we say we want so so so deeply.
• 5:48
  SPEAKER_01: Man, that's um that's so fascinating.
• 5:50
  SPEAKER_01: You know, my favorite quotes is uh about delayed gratification is most people give up what they want most for what they want now.
• 5:59
  SPEAKER_01: And um it's so true.
• 6:01
  SPEAKER_01: It's so unbelievably true.
• 6:02
  SPEAKER_01: But I love what you said, because you said the answer typically people always default to say, I need more.
• 6:08
  SPEAKER_01: And you know, obviously we talk about partnerships a lot.
• 6:10
  SPEAKER_01: It's I need more partnerships.
• 6:12
  SPEAKER_01: So I'm wondering, how do we apply what you're saying to this idea of you know partnering with people to grow our business?
• 6:19
  SPEAKER_01: If I don't need more partnerships, what do I need to do in order to get the most out of the one I've already got?
• 6:26
  SPEAKER_02: Yeah, so it the answer is always more action.
• 6:29
  SPEAKER_02: It's always taking more action.
• 6:31
  SPEAKER_02: Here's, you know, we always think so.
• 6:32
  SPEAKER_02: Go to like, we don't want to take the next step because we don't know everything we think we need to know, and we might fail, make a mistake, whatever.
• 6:39
  SPEAKER_02: Most of what we need to know in order to succeed is only available to us once we've taken the steps, once we move forward.
• 6:47
  SPEAKER_02: Yeah, that's when it's all revealed.
• 6:49
  SPEAKER_02: You know, I use this example in martial arts jujitsu all the time where I could take a practitioner giving him an entire year to study the best practitioners in jiu-jitsu, right?
• 6:59
  SPEAKER_02: And then show up for to compete against the guy who's been on the mats in my gym for only two weeks, and the guy who's been on the mats in my gym for two weeks will always spank the guy who's been studying, practicing for a year, every single time.
• 7:14
  SPEAKER_02: And it's it's allowed me to create a definition around intelligence because it works a lot better for me.
• 7:20
  SPEAKER_02: Instead of measuring, honestly, IQ, um, intellectual intelligence being really your ability to retain information quickly.
• 7:27
  SPEAKER_02: That's really what we measure, right?
• 7:29
  SPEAKER_02: How about the new definition, the functional definition of intelligence is a speed of implementation of new information?
• 7:38
  SPEAKER_02: How fast you take new information and put it to work.
• 7:42
  SPEAKER_02: Because truthfully, it's only information until you convert it through to knowledge through execution.
• 7:49
  SPEAKER_02: Does that make sense?
• 7:50
  SPEAKER_02: Yeah.
• 7:51
  SPEAKER_02: Like if we really wanted to teach kids in school, they would never go and just sit in school.
• 7:56
  SPEAKER_02: They'd go and learn something and go out and apply it.
• 7:58
  SPEAKER_02: And then learn it and go out and apply it, and learn it and go out and apply it.
• 8:02
  SPEAKER_02: And that would teach, that would genuinely create knowledge in kids in schooling.
• 8:06
  SPEAKER_02: But we do it a little backwards there.
• 8:08
  SPEAKER_01: Yeah, I would agree.
• 8:09
  SPEAKER_01: Um, you know, it's part of the reason we homeschool.
• 8:12
  SPEAKER_01: I was an athlete, right?
• 8:13
  SPEAKER_01: So in sports, you learn something, you go play or practice, you play a game or you practice, and then you watch film or review, and then you tweak and adjust, and tweak and adjust, and tweak and adjust, and so you get to a level of mastery, and then you're really, really, really good at whatever it is that you're doing.
• 8:29
  SPEAKER_01: And it sounds similar in concept, right?
• 8:31
  SPEAKER_01: You you're taking in information, you're using that information, and then you're reviewing how you you were able to use that information to get a result, good, positive, you know, positive or negative, and then you learn from that experience, and then you just go keep keep doing it over and over and over again.
• 8:46
  SPEAKER_01: And so if let's say I'm, you know, I've got a partnership, you know, we'll talk about obviously what we do is co-marketing, but a lot of people do affiliate marketing.
• 8:54
  SPEAKER_01: So let's say it's like, okay, I've gotten some great partners that are going to help me promote my product or service, um, or but nothing's really happening.
• 9:02
  SPEAKER_01: I'm not getting the types of results that I would want to get.
• 9:04
  SPEAKER_01: If the answer's not, I need to go get more partners, I need to it's it sounds like the answer is I need to I need to do more with the partners that I've already got.
• 9:11
  SPEAKER_01: What action do I need to take to get greater results from the relationships that I've got in your in your mind?
• 9:18
  SPEAKER_02: Good good question.
• 9:18
  SPEAKER_02: And I'll answer it the best I can without knowing the nuances of your partnership, right?
• 9:22
  SPEAKER_02: Partnership means a lot of different things, a lot of different people.
• 9:25
  SPEAKER_02: Of course.
• 9:25
  SPEAKER_02: When I talk to people at the beginning, say, Grant, that's a few years ago, you can always say, Pat, should I partnership with this guy over here?
• 9:32
  SPEAKER_02: I'm like, well, let's let's talk about it.
• 9:34
  SPEAKER_02: It's a good good question, right?
• 9:35
  SPEAKER_02: If you can show me, Grant, where one plus one like you equals four or five, then at least it's a good conversation to have.
• 9:43
  SPEAKER_02: But if one plus one equals two or maybe three, then no, it's off the table.
• 9:47
  SPEAKER_02: I've got to remember most, I'm not saying you, but most people partnership out of fear, right?
• 9:52
  SPEAKER_02: They want somebody else to bear the burden of what they're about to do, so they're not doing it alone.
• 9:57
  SPEAKER_02: They don't do it for all the right reasons, right?
• 10:00
  SPEAKER_02: So with that said, uh, you gotta go back and ask yourself, well, what was he or she bringing to the table that made my multiple equal four or five to begin with?
• 10:10
  SPEAKER_02: That's where we start.
• 10:11
  SPEAKER_02: And if you weren't clear on that, they say, all right, stop, pause.
• 10:14
  SPEAKER_02: I gotta go back as if I was starting over, right?
• 10:18
  SPEAKER_02: There's me and there's them.
• 10:20
  SPEAKER_02: Say you're a great manufacturer, you dialed in manufacturing, you're awesome at producing the product, the fulfillment side of the thing, right?
• 10:28
  SPEAKER_02: But you suck at marketing and sales.
• 10:30
  SPEAKER_02: Well, the right marketing and sales team, plus what you do, can really magnify outcome.
• 10:35
  SPEAKER_02: All they they're in a lane, that's all they do.
• 10:37
  SPEAKER_02: You're in a lane, that's all you do.
• 10:39
  SPEAKER_02: Fantastic, right?
• 10:40
  SPEAKER_02: Go together.
• 10:41
  SPEAKER_02: So one of our that education platform that I was part of, I told you, it was one of the largest in the US.
• 10:46
  SPEAKER_02: All we did, my entire company, our relationship there was we did fulfillment.
• 10:51
  SPEAKER_02: We didn't do any marketing, we didn't do any sales, we didn't do any customer service.
• 10:55
  SPEAKER_02: All we did was all of the coaching necessary to fulfill the product.
• 10:59
  SPEAKER_02: And we were in a lane, we buried our heads, and they ran to the moon with marketing and sales.
• 11:04
  SPEAKER_02: Never had to worry about collecting money, never had to worry about unpaid bills, any of that.
• 11:09
  SPEAKER_02: See how the two together worked perfectly.
• 11:12
  SPEAKER_02: So step one, if you go back and say, all right, what do they have and what do you have?
• 11:16
  SPEAKER_02: Right?
• 11:16
  SPEAKER_02: Um, and now if on paper it's supposed to work, now you go, okay, if on paper it's supposed to work, but it's not working, then you have to have an honest conversation with both sides and what are we not doing?
• 11:31
  SPEAKER_02: Not in a judgmental way, but in a uh solve the problem kind of way.
• 11:38
  SPEAKER_02: Does that make sense what I'm saying?
• 11:40
  SPEAKER_00: Yeah.
• 11:40
  SPEAKER_02: Because if if you had certain results you were expect uh expecting, they're based on some sort of facts to begin with, right?
• 11:49
  SPEAKER_02: You've just got to figure out what's out of alignment in that relationship now.
• 11:53
  SPEAKER_02: And it's not that anybody's doing anything wrong, so it's it's gotta come from a perspective, we're just here to make it better.
• 11:58
  SPEAKER_01: Right.
• 11:59
  SPEAKER_01: I talked to a lot of people, and they everybody, like you said, everybody's got a different definition of partnerships.
• 12:05
  SPEAKER_01: And I think a lot of people that I've talked to have used partnerships in in different ways.
• 12:09
  SPEAKER_01: They've used, you know, I partner with some people to help me grow my company by, you know, through client acquisition.
• 12:14
  SPEAKER_01: Um, maybe, maybe you have an audience of people I need to get in front of, so I'm gonna go work with you and you know, let's create some content, let's get in front of your audience, and then ultimately I'm gonna get some trust from your audience, and you know, my sales are gonna grow.
• 12:26
  SPEAKER_01: And then other people use it kind of like in a way that it sounded like you described as strategic leverage.
• 12:32
  SPEAKER_01: You know, you're gonna do this thing because you're really good at it, and I'm gonna do this thing because I'm really good at it, and that's gonna help us.
• 12:36
  SPEAKER_01: We're we're both gonna grow as a byproduct of that.
• 12:39
  SPEAKER_01: How have you guys used it primarily to grow you know all of the businesses that you've been a part of and what you're doing now?
• 12:44
  SPEAKER_02: Yeah.
• 12:45
  SPEAKER_02: And again, I guess we're using a loose definition of partner.
• 12:48
  SPEAKER_02: So my idea of partner is that you have ownership, I have ownership.
• 12:53
  SPEAKER_01: Uh-huh.
• 12:53
  SPEAKER_02: Now, I know there's other definitions of partner, meaning that we're really we're associates.
• 12:58
  SPEAKER_01: Or in or in relationship, you know, we we just have a relationship and we're both doing our part.
• 13:03
  SPEAKER_02: Yeah, we're on a single project with an equity share, something like that.
• 13:06
  SPEAKER_02: That's whatever, right?
• 13:08
  SPEAKER_02: Um, so the way I've used partners that way is, and I do this on my keynote speaking, is I'll have somebody who's already put together, curated a mastermind group, for an example, right?
• 13:20
  SPEAKER_02: That's a lot of time, energy, effort, money to make all of that happen.
• 13:24
  SPEAKER_02: There's tremendous resources that go into curating a tight little group of people that fit my avatar per uh perfectly.
• 13:32
  SPEAKER_02: Instead of me charging them to go uh keynote at their event or do a workshop, I do that as a participant for them in exchange for exposure to.
• 13:44
  SPEAKER_02: Now, they, the group owner, never pay me a penny.
• 13:47
  SPEAKER_02: And there's no sales happening, right?
• 13:50
  SPEAKER_02: I put back into them, they've already done their part by putting curating these people together.
• 13:55
  SPEAKER_02: I allow the people who are interested to come back to me on their own.
• 13:59
  SPEAKER_02: Does that make sense what I'm saying?
• 14:01
  SPEAKER_00: Yep.
• 14:01
  SPEAKER_02: That's how I use part like uh relationship partnerships all the time.
• 14:06
  SPEAKER_00: Um yeah.
• 14:10
  SPEAKER_01: Yeah, so so you speak at masterminds or events, webinars, uh, meetups, whatever, and you find people that have already created or curated these types of experiences, and you come in and you you present as a value add, and obviously, you know, you're you're providing value to the audience in exchange for exposure to the audience.
• 14:31
  SPEAKER_01: And um the the person that's putting on the event, they need really good speakers to come in and do the same thing.
• 14:37
  SPEAKER_01: So this kind of works as a mutually beneficial relationship.
• 14:41
  SPEAKER_01: You're growing and they're growing at the same time, right?
• 14:44
  SPEAKER_02: Mm-hmm.
• 14:45
  SPEAKER_02: Exactly.
• 14:45
  SPEAKER_02: So if we're to look at it from a higher perspective, this is all businesses fall into this in some way, shape, or form.
• 14:52
  SPEAKER_02: There's the fulfillment of the product, the delivery of the product, that's one piece.
• 14:56
  SPEAKER_02: There's the lead generation, where did the lead come from?
• 14:59
  SPEAKER_02: That's the next piece.
• 15:00
  SPEAKER_02: And then there's the selling of the lead.
• 15:02
  SPEAKER_02: So those three make a triangle, right?
• 15:04
  SPEAKER_02: Inside of that is operations and all that other stuff, your direct overhead, all that kind of stuff, right?
• 15:09
  SPEAKER_02: But those three have a near equal value to that relationship.
• 15:16
  SPEAKER_02: Does that make sense?
• 15:18
  SPEAKER_02: So if you're providing uh access to your clientele, but you're maintaining fulfillment and sales, um, you'll give up one-third of whatever comes in in that relationship.
• 15:30
  SPEAKER_02: Let me just give you an example, you know, and that's how most businesses um come together.
• 15:35
  SPEAKER_02: Even a mom and pop shop sitting on the side of the street, their leads come from somewhere.
• 15:39
  SPEAKER_02: They don't just happen.
• 15:41
  SPEAKER_02: That's their marketing effort, their costs, or online, all that kind of stuff.
• 15:45
  SPEAKER_02: You know, so it it all boils down the same way.
• 15:48
  SPEAKER_01: How how do you identify those opportunities for yourself?
• 15:51
  SPEAKER_01: Let's just stick with speaking for an example.
• 15:53
  SPEAKER_01: You know, how do you how do you both identify the opportunities?
• 15:56
  SPEAKER_01: And it's not an easy thing to get on somebody's stage, right?
• 15:59
  SPEAKER_01: It's not a it's not just like a oh yeah, let me on your stage.
• 16:02
  SPEAKER_01: Like it's not an easy thing to do.
• 16:03
  SPEAKER_01: So how do you identify those opportunities and then how do you how do you get those opportunities?
• 16:08
  SPEAKER_02: Identify them.
• 16:08
  SPEAKER_02: You look for people who have curated the avatar that you're targeting.
• 16:12
  SPEAKER_01: That would be the okay, so really easy, like you have my audience, and so I want to work with you.
• 16:17
  SPEAKER_01: Like that's that's pretty simple.
• 16:18
  SPEAKER_02: Yep, you you start there, and then next is all right, who do I know that's already in there?
• 16:23
  SPEAKER_02: Where's where's my one where's my one step out connection?
• 16:28
  SPEAKER_02: If not, where's my two steps out connection, right?
• 16:30
  SPEAKER_02: After that, it's a cold reach in and it's called say, listen, do you uh do you guys do any virtual stuff?
• 16:35
  SPEAKER_02: And do do you have any guest speakers come in?
• 16:37
  SPEAKER_02: I'd love to come in, speak for or speak for an hour or so on all of these different topics, whatever you want to talk about, right?
• 16:44
  SPEAKER_02: Whatever you feel bringing value to your people, uh nothing in exchange, no pitch.
• 16:48
  SPEAKER_02: You don't even give care if you give them my name and email, doesn't matter.
• 16:51
  SPEAKER_02: Let me just pour in first.
• 16:52
  SPEAKER_02: What I'm really doing is selling the owner of the group that's what's happening right there.
• 16:59
  SPEAKER_02: So this isn't a you know, this isn't a point of sale kind of thing.
• 17:04
  SPEAKER_02: This isn't you know direct response marketing.
• 17:06
  SPEAKER_02: This is runway building up a relationship with the intent that, yeah, for the next few years you're gonna be involved in a group bringing as much value as you possibly and I'm I hate, I mean, I hate even use those words because everybody says bring value.
• 17:19
  SPEAKER_02: But I mean bringing impactful value that people can leave and and do something with, like they can create a measurable outcome off of what you shared with them.
• 17:28
  SPEAKER_02: Does that make sense?
• 17:29
  SPEAKER_02: And that's how I always look at it.
• 17:31
  SPEAKER_01: Yeah.
• 17:32
  SPEAKER_01: So you c you identify the people that have influence over the audience that you want to be in front of, and then you through either a relationship or you know, cold interaction, and a cold interaction is just I don't know you, and I called you and said hey, so it's that's what a cold interaction is for people listening.
• 17:50
  SPEAKER_01: Um you you then find ways to be valuable to that person through you know a presentation that you'll give.
• 17:56
  SPEAKER_01: If you can add value to their audience, it helps them in some way, that's typically what you're going after.
• 18:01
  SPEAKER_01: And then does that just kind of naturally lead to speaking engagements on stages?
• 18:05
  SPEAKER_02: Or that's how it develops, you know?
• 18:08
  SPEAKER_01: Yeah.
• 18:08
  SPEAKER_02: Um provided you do your part, you bring, you know, someone what has to happen is their people have to afterwards say, Grant, man, that was a great interview.
• 18:17
  SPEAKER_02: Um when when when can we get that guy back?
• 18:20
  SPEAKER_02: Yeah, that's what has to happen, right?
• 18:22
  SPEAKER_02: And and that means you got to go in with one intention, and it's not selling or anything like that.
• 18:28
  SPEAKER_02: How do I make an impact on these people that matter for them?
• 18:31
  SPEAKER_02: So back in our real estate days, um we we focused exclusively on short sales for 10 years, and we were the expert in the area without, and I'm not just saying that to be egotistical, at the very beginning in 2000, 2001, nobody even knew what a damn short sale was, you know?
• 18:44
  SPEAKER_00: Yeah.
• 18:44
  SPEAKER_02: Um, so we went around to uh real estate brokerages training on short sales, everything we knew, how to do them.
• 18:53
  SPEAKER_02: Not no sales, no pitch, nothing.
• 18:57
  SPEAKER_02: Knowing that a lot of realtors would be like, screw this, this is something we shouldn't be getting involved with.
• 19:03
  SPEAKER_02: Uh Pat did say something that about his company will handle the short sale for us and we shall get our commission.
• 19:10
  SPEAKER_02: Let's reach back out to Pat.
• 19:12
  SPEAKER_01: Yeah.
• 19:14
  SPEAKER_02: Tracking me on that.
• 19:15
  SPEAKER_02: So that's one way in our real estate space, and we did that.
• 19:17
  SPEAKER_02: We probably went out, man, a couple times a week, grand.
• 19:21
  SPEAKER_02: I'm talking about the full-blown buying them lunch.
• 19:23
  SPEAKER_02: The easiest way to get realtors to show up is buying lunch, right?
• 19:26
  SPEAKER_02: So we just stepped into the the methodology they've already used, and we'd be buying them lunch and putting on these, should should have been an hour, and they go out sometimes two and a half hours because it was a topic that mattered to them and they wanted to be able to service their clients, right?
• 19:40
  SPEAKER_02: And we're providing the resources they need to do that.
• 19:43
  SPEAKER_02: And I would suggest that anybody listening to this, that's all it takes.
• 19:47
  SPEAKER_02: You know, if you have an expertise in something, right?
• 19:50
  SPEAKER_02: Um just start sharing it with others with no no intentions, no expectations.
• 19:56
  SPEAKER_01: I think that's the part that a lot of people get twisted.
• 19:58
  SPEAKER_01: It's like, well, I gotta get in there, I gotta pitch, I gotta sell, I gotta do something like that.
• 20:02
  SPEAKER_01: I think a lot of people try to have a relationship from their pocketbook.
• 20:06
  SPEAKER_01: It's very transactional.
• 20:07
  SPEAKER_01: It's just like I want to get in, I want to sell my thing, I want to get out.
• 20:10
  SPEAKER_01: And what you're saying is, no, identify the people you want to be in a relationship with, add as much value to them as you possibly can so that they see no other alternative than just wanting to do business with you.
• 20:21
  SPEAKER_01: You don't have to pitch, like you don't have to sell stuff.
• 20:23
  SPEAKER_01: If you add enough value to people, they very naturally want to reciprocate by doing business with you.
• 20:29
  SPEAKER_01: Is that kind of what you're saying?
• 20:31
  SPEAKER_02: 100%.
• 20:31
  SPEAKER_02: It's the idea of do you want to be chasing or do you want them to come to you?
• 20:35
  SPEAKER_02: Which one's gonna be a better client to work with?
• 20:38
  SPEAKER_02: Yeah, right.
• 20:39
  SPEAKER_02: And that's and and we've all listened we're not I'm not judging anyone because we've all chased, me included, right?
• 20:45
  SPEAKER_02: Um and I've learned over time, you know, that the lighthouse approach is a lot stronger than the tugboats, you know, tugboats boats racing out uh to find a boat to save and bring back to shore.
• 20:57
  SPEAKER_02: I want to be the lighthouse and just let them come in to me, you know?
• 21:01
  SPEAKER_01: Yes.
• 21:01
  SPEAKER_01: Um it's it's so much easier.
• 21:03
  SPEAKER_01: Um there's a period of time though, where I and this is what I think gets a lot of people mixed up is there's a period of time of contribution where not so many people are coming and knocking on your door.
• 21:14
  SPEAKER_01: It does it doesn't happen like just a fire hose immediately.
• 21:17
  SPEAKER_01: It slowly starts.
• 21:18
  SPEAKER_01: You've got to build that relationship with your audience by adding value to them, and then it gets bigger and it gets bigger and it gets bigger, and you get to a point where you can't you couldn't turn it off if you wanted to, but um, yeah, I think it's a simple philosophy.
• 21:32
  SPEAKER_01: Um, when you're looking at partnering with people to grow your business, identify the people that have a relationship with the audience you want to have, and then add so much value to them it would be irrational for them not to want to do business with you.
• 21:47
  SPEAKER_01: You don't always have to sell or or do all of those types of things.
• 21:51
  SPEAKER_01: And if you can do that for a long extended period of time, I think you're gonna be blown away by how successful your your business or your venture project or whatever that is would be.
• 22:00
  SPEAKER_02: Yeah, absolutely.
• 22:01
  SPEAKER_02: And there is always like the immediate respond of the early adopters.
• 22:05
  SPEAKER_02: You'll always get something right or from generally a a runway to client engagement.
• 22:11
  SPEAKER_02: And it's something I'll share there.
• 22:12
  SPEAKER_02: Like um it's important for anyone listening.
• 22:16
  SPEAKER_02: If this is like, hey, I can do this, you can.
• 22:19
  SPEAKER_02: Uh and spend a little time knowing who you're speaking to in advance to make sure that the problems that you solve are in alignment with what's going on in their head now.
• 22:33
  SPEAKER_02: Not what you want to solve or not what you think is smart, but what the conversation that's already going on right there, we just want to step right in front of that, right, and provide solutions to it.
• 22:45
  SPEAKER_02: That that's the way to connect really, really quick with people.
• 22:49
  SPEAKER_01: It's a simple formula for success, my man.
• 22:51
  SPEAKER_01: I appreciate you giving it to us.
• 22:53
  SPEAKER_01: Uh, this was an awesome conversation.
• 22:55
  SPEAKER_01: I'm wondering how can we, as listeners of the Partner of Profit Podcast, how can we partner with you?
• 23:01
  SPEAKER_01: How can we walk alongside you and support you?
• 23:03
  SPEAKER_02: So, any if anybody wants to follow me on social media, I'm easier to find just Patrick Precourt, right?
• 23:08
  SPEAKER_02: A little more um active on Facebook and Instagram than anything else.
• 23:12
  SPEAKER_02: I don't do any TikTok or anything like that.
• 23:14
  SPEAKER_02: Just have it look my age, okay?
• 23:15
  SPEAKER_02: That just ain't happening that way.
• 23:17
  SPEAKER_02: Um, if you want to do anything more than that, you know what, Grant, I can send you a link with a little more information about me and some of the things that we do.
• 23:24
  SPEAKER_02: But we do a lot of neat programs working with individuals, growing businesses from where you are to where you want to go.
• 23:29
  SPEAKER_02: My expertise is helping individuals close the gap.
• 23:33
  SPEAKER_02: Like if you're here and you want to be here, but this here's been here for a while, right?
• 23:38
  SPEAKER_02: Um, my job is to get you over that in a short order.
• 23:41
  SPEAKER_02: You know, we didn't get into beliefs at all right now.
• 23:43
  SPEAKER_02: So I push back against the whole motivation, inspiration, manifestation, vision board space that's been out there, culture that's been out there, primarily because that's not what it takes for us to succeed.
• 23:57
  SPEAKER_02: What takes for us, what it takes for us to succeed, Grant, is us taking actions that we're refusing to take, which is usually the scary, hard stuff that we're worried about, right?
• 24:07
  SPEAKER_02: And the fear comes from not knowing whether or not we're gonna succeed or fail.
• 24:12
  SPEAKER_02: And there's a a pattern to how we operate, but there's also a blueprint on how to get through that.
• 24:17
  SPEAKER_02: And the blueprint always makes it sound bigger than it is.
• 24:21
  SPEAKER_02: It's behavioral engineering.
• 24:22
  SPEAKER_02: If it's really, go back and look up the word courage, right?
• 24:26
  SPEAKER_02: It's acting in the face of our fears, doing the things we're afraid of, and it's in that space that everything we think we need to know is revealed to us immediately.
• 24:36
  SPEAKER_02: And everything I do is about pushing people to that behavior until the new behavior, the behavior necessary to be successful, becomes our new identity.
• 24:45
  SPEAKER_02: And that's kind of here, right?
• 24:47
  SPEAKER_02: That's without getting too far into it.
• 24:49
  unknown: Yeah.
• 24:50
  SPEAKER_01: So if you listen to this and you've got a goal that's been out there for a long time, and it's uh and and there's something that you feel is holding you back, but maybe you can't describe what it is, you don't know what it is, and you want somebody to help you get over that.
• 25:02
  SPEAKER_01: Is that what I hear you saying, Patrick?
• 25:03
  SPEAKER_01: You can help those people uh accomplish those goals, whatever they might be.
• 25:07
  SPEAKER_02: Yeah, and understand again, it's not motivation, it's not anything like that.
• 25:10
  SPEAKER_02: It's it looks at look at it as buttons and levers on a machine, yeah, and just aligning the order that you push yours to get the results.
• 25:18
  SPEAKER_02: And it's not necessarily easy, it's scary because we're working against some core beliefs that are no longer in alignment with who we need to become to have what we want to have.
• 25:28
  SPEAKER_02: But that's exactly the space I play in.
• 25:30
  SPEAKER_01: Love it, love it, love it.
• 25:32
  SPEAKER_01: Well, we'll make sure uh that we link up all the ways that people can connect with you if they're interested in in working with you.
• 25:39
  SPEAKER_01: We'd love to support you that way.
• 25:40
  SPEAKER_01: Man, I appreciate you being on with me today and spending some time, and uh, it's definitely been a valuable conversation.
• 25:45
  SPEAKER_02: Awesome.
• 25:46
  SPEAKER_02: Pleasure being here, guys.
• 25:47
  SPEAKER_01: Yeah, yeah.
• 25:48
  SPEAKER_01: All right, guys, thank you for continuing to listen to the Partner Profit Podcast.
• 25:52
  SPEAKER_01: This has been an epic conversation today.
• 25:54
  SPEAKER_01: I'll see you on the next episode.
• 25:56
  SPEAKER_01: Peace.