Recently Rob Shore, CEO and Founder of Wholesaler Masterminds®, was asked to field questions from a group of aspiring wholesalers who are enrolled in their firm’s training and development program.
The questions they asked are, likely, on the minds of many current and/or future wholesalers.
For that reason, we thought we’d share the questions, and his answers, with you.
Regarding MQ-Memorability Quotient®. How do you differentiate yourself in the business? Can you share any words of wisdom on that?
If you think about everything that we do in our craft as wholesalers, my overarching goal, as I’ve stated and by everything I’ve done, is that you can put this framework of MQ-Memorability Quotient® on top of it.
And what I like to say is, having an advanced degree does not necessarily give you a high Memorability Quotient®, but it’s a wonderful thing to have. Having a advanced credential, like a CFA, is a fabulous credential to have in the pursuit of a great wholesaling practice, but it doesn’t at all necessarily make you memorable.
You can have no college education, you could have no advanced degree, and still be remarkably memorable by doing things like being urgent, operating with a high sense of urgency; making sure that emails are returned promptly and effectively and efficiently; making sure the calls are returned in the same manner; making sure that when a request is made of you, it’s fulfilled without someone having to make that request a second time.
So urgency ups your Memorability Quotient®… having a philosophy of do what you say you’re going to do when you say you’re going to do it. I used to impart that on my staff all the time: do what you say you’re going to do when you say you’re going to do it. You know every single day you are let down by somebody that made some promise, of some kind, somewhere in your life, and they didn’t fulfill that promise. And sadly, it is a rare individual today that delivers exactly what they said they were going to do, exactly when they said they were going to do it. It’s sad, but it’s an easy way to differentiate yourself.
When you think about this concept of Memorability Quotient®, think about it as it transcends wholesaling. Think about it as how you operate as a business professional to another business professional, and how you apply it outside of work is, of course, your business. But inside of our business, inside of your firm, inside of working with your peers and your superiors, this is a way to differentiate yourself.