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RUNNING A SUCCESSFUL REIA MEETING
There are a lot of factors that we'll get into throughout the course of
this book, but you should know that more is not always better.
Some REIAs feel the need to have a selling speaker at every
meeting, every single month of the year. At first glance, it might
make more sense to have more selling speakers to generate more
income; however, that's the exact opposite of how it works in the
real world.
We equate this way of thinking to the shoe store that's just not
selling enough shoes. The shoe store owner thinks to himself, "I'm
just not making enough money. There must be a better way!" So in
an effort to make more money, he raises the prices of all of his shoes
by 50% thinking that if he only sells the same amount of shoes he's
been selling in the past, his profit will go up substantially and he'll
be a much happier business owner. Unfortunately, this way of
thinking doesn't necessarily take into consideration what really
works. This approach may make sense on paper, but the reality is
that raising prices alone actually alienates the few customers he had
coming to his store. Now, even the old customers stop coming
altogether, irritated that shoe prices skyrocketed for no reason. No
extra value was provided, just higher prices.
Many REIA owners have the shoe store owner mentality, and try to
solve their cash-flow challenges by having more selling speakers
each year rather than focusing on a handful of really good ones. The
shoe store owner should have never increased prices, at least,
certainly not without providing more value than he was previously.
Instead, he should have increased the value perceived by each
existing customer and increased the amount of customers coming in
to the store each day. Instead of raising prices, perhaps he should
have spent a little more time, focus, and even money, giving people
a good reason to even come into his store, then providing them with
evidence that proves he's got the best shoe store around.
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