October 18, 2024 • 23 mins
Check out Alex's original video here from the Aircraft Broker Academy:
https://youtu.be/hNvYzQohry0?si=oJ-bMR9r9JbXnh6v
WHY do new Jet Brokers Fail??
In this video, Tom Lelyo reacts to Alex's "Top 5 Mistakes New Aircraft Brokers Make." He discusses key challenges in the industry and offers practical advice for aspiring brokers.
Key Takeaways:
📉 Unrealistic expectations are common—new brokers often underestimate the work required.
🤝 Building a network and trust takes time; it's not a quick path to success.
💪 Learn to handle rejection and discipline disappointments to stay motivated.
📞 Follow-up is crucial. Provide value in your outreach, not just a sales pitch.
⏳ Focus on the long game—patience and perseverance are key to success.
🤝 Join our FREE Private Online Community for aspiring Jet Brokers: https://circle.jetlifeaero.com
✈️ For more BizAv news delivered directly to you via text - https://cristobal.ai/
Being a Private Jet Broker is a life changing opportunity for those seeking a career in an industry that has low competition and extremely high commissions.
Let's book a call so you can discover how to get your FIRST SALE and start a new career in Aviation - https://www.theultimatejetguide.com
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
So if you're a jet broker and all you're doing is
calling, hey, you want to sellyour jet, hey, you want to sell
your jet, hey, you want to sellyour jet no one's going to
listen to you.
The how you know doesn't doanything, even though you've
changed different hows, the whatis all you're doing is asking
them a question.
That doesn't help.
Hello, hello everybody andwelcome.
(00:20):
My name is Tom Lelio and onthis channel we pull back the
curtain on private aviation.
Whether you're a buyer or abroker or an inspiring broker,
we help you buy and sell privatejets with no experience
necessary.
Today we're doing a reactsvideo with my buddy, alex B,
over at the Aircraft BrokerAcademy Just dropped another
(00:43):
amazing video why new aircraftbrokers fail the top five
mistakes and we're going to see.
Over at the Aircraft BrokerAcademy Just dropped another
amazing video why New AircraftBrokers Fail the top five
mistakes and we're going to see.
We're going to see if he knowswhat he's talking about and if I
agree with him or not.
So let's check it out.
Speaker 2 (00:54):
The number one most common mistake that new aircraft
brokers make is havingunrealistic expectations.
Boom boom.
Speaker 1 (01:00):
Number one, I'm with you, let's go.
Speaker 2 (01:07):
I can't tell you how many times students have told me
that they want to be like SteveBarzano and sell Gulfstream
Globals or Falcon.
Speaker 1 (01:11):
How come nobody's telling them that they want to
be like Tom Lelio?
I mean, I don't know.
He's got to be talking to thewrong people.
I guess they're watching thewrong YouTuber.
Speaker 2 (01:18):
I'm not saying it's impossible, but many new
aircraft brokers enter theindustry believing that they
will be able to closemillion-dollar deals quickly and
make huge profits.
Speaker 1 (01:28):
I'm going to push back just for a second here.
When it comes to unrealisticexpectations and I think you
might get to it later for meit's not that people come in and
think that they're just goingto sell Gulfstreams, it's more
they don't understand the amountof work that it's going to take
to get to that level.
But I think he might go intothat later, we'll see.
But let's just see what he'stalking about with their
(01:48):
unrealistic expectations.
Speaker 2 (01:50):
However, the reality is that it takes time to build a
network, establish trust withyour clients and understand the
complex process involved inbuying or selling aircraft.
Speaker 1 (01:59):
That's true.
That's true.
So selling and buying privatejets is simple, but it's not
easy and it's also complex.
And what I mean by that is youfind a jet, you list a jet, you
sell a jet.
It's that simple.
But within that, there's a lotof different steps that go into.
Well, what does that mean?
To get a listing?
How do I market a listing?
(02:20):
How do I handle offers?
How do I write up offers?
How do I open up escrow?
How do I navigate through thepre-buy?
How do I help them takedelivery?
There's a lot of things that gointo it.
But yeah, if you don't have allthat stuff, you shouldn't be
calling yourself a broker.
Speaker 2 (02:37):
For example, I started in the piston market
selling Cessna 172s, navajos andWarriors.
It might not be as glamorous asselling a G550, but you can
still make a great commission.
So to avoid this mistake, it'simportant for new aircraft
brokers to have a clearunderstanding of the industry
and set realistic goals forthemselves.
Building a successful career asan aircraft broker requires a
(03:00):
lot of patience, hard work andperseverance.
For example, back in 2018, whenI started my brokerage, it took
me a whole year to sell myfirst airplane, but I never gave
up and eventually I startedbuilding momentum.
Now this leads me to the nextmistake.
Speaker 1 (03:14):
So before we get into the next mistake, a couple of
things With Alex.
I'm 90% sure when he became abroker he wasn't doing that full
time.
I think he was also a pilot.
So for him to take a year tosell a jet or to sell an
aircraft, okay great, you hadother things going on.
So that's what happened, and Ithink it's to his point to have
realistic goals.
(03:35):
And so people will come andtalk to me and say like, hey,
tom, when can I get my firstcommission?
And I'll usually tell themabout six months, and that's a
little bit of an overshoot, butI think it's probably going to
be where it's at.
And the reason I give that isbecause that's what happened to
me.
I came into aviation with nobackground.
I was a youth minister for 10years and when I came into
aviation I had no idea.
(03:56):
I had no idea what to do.
I had no idea how aviationworks.
I had no idea how complex thesystems were.
I had no idea, you know,building relationships over the
phone Was this the first time Iwas doing it?
So you know, I came into it,but my first year I did 20 deals
and made six figures, and thereason I was able to do that was
because I just put my head down.
(04:17):
I did what my coaches and mymanagers told me.
I paid for extra training.
I dropped over $10,000 my firstyear once I got commission to
get more training.
So the money I made went rightback into my training and I
think that's part of the reasonswhy my income doubled the next
year and tripled the followingyear.
So, yeah, I mean, I'm with you,alex, 100%.
(04:38):
I think that's really importantto get all those things and
have the right expectations andset good goals and be and be.
Just have a realisticexpectations that you can get
into this part-time, but it'sgoing to take you longer.
So if you want to make if Imade six figures my first year
full-time if somebody wants togo part-time, it might take you
(05:00):
a full year to make 50K,something like that, and just
don't be afraid to adjust yourexpectations.
What I want to say is don't letyour expectations hold you back
from getting started as abroker.
So if you need a six-figureincome but you can't quit your
job and go nine to five, what Iwould say is go part-time and
(05:23):
just be okay with and satisfiedby, 50k for the year.
Don't wait till you have toquit your job.
Just grind it out for a littlebit and get the experience so
that the following year you canreally crush it.
Speaker 2 (05:36):
Able to deal with rejection.
I'm going to be completelyhonest with you.
When I first started, I wasfrightened and I even felt
embarrassed at times to tellpeople what I was doing, since I
didn't have any experienceselling airplanes.
Speaker 1 (05:47):
Yes, I totally felt this way when I first started
selling jets.
I was embarrassed to tellpeople I sold jets because I had
never sold a jet.
And even when I started sellingjets I felt weird because I was
like I can't believe this isreally happening.
I sell jets and even now it'sfunny because sometimes you go
into industry you know mixersand stuff and they're like, hey,
what do you do?
I'm like I sell jets and like,oh, cool, which ones?
And I'm like, well, the oldones you know from the 1970s and
(06:09):
80s.
I'm like, really, I can'tbelieve anybody buys that
anymore.
It's like, well, thanks, theydo, and I'm happy living my jet
life to the fullest.
Oh, but that's why one of thegood things about working with
Jet Life Aero is you can lean onthe success of the company and
(06:32):
you don't have to worry aboutyour own personal success.
It's one of the advantages ofworking with a brokerage instead
of just trying to do it on yourown.
Speaker 2 (06:36):
I'm worried about what other people thought about
me, since I also started otherbusinesses that failed.
The funny thing is that thepeople whose opinions I cared
about are still stuck in thesame place, so I can emphasize
how important it is to get ridof these feelings.
Speaker 1 (06:52):
Yes, it's really important that Alex points out
that.
The think about who you'relistening to and if the people
whose opinions that matter mostto you are individuals that
don't have the level of success,whatever that means spiritual,
emotional, financial, business,If the people that you're
listening to don't have thatlevel of success that you're
striving for, I think you shouldcount their opinion a little
(07:14):
bit less.
Now, of course, spouses andfamily.
You know they have a specialplace, but at the same time, if
your family members in lawsaren't in the same financial
situation that you want to be,why are we listening to them for
advice on how to get out ofwhere your current situation is?
Speaker 2 (07:32):
And unfortunately this is not something that I can
teach.
This is an internal battle thatyou must win on your own, so
don't be afraid to put yourselfout there and getting rejected
by clients.
It's important to remember thatit is not a reflection of your
skills or abilities.
Sometimes the timing may not beright for the client.
The key is not to takerejection personally and instead
(07:54):
use it as motivation to improveand continue pursuing new
opportunities.
Speaker 1 (07:58):
Another mistake that this is really important
Learning to deal with rejection.
A couple of things.
Number one you got to learn howto deal with your
disappointments.
I'm sorry, discipline yourdisappointments.
It's important to learn how todiscipline your disappointments.
You're going to be disappointed, that's natural, it's okay.
But what happens is over time.
If you learn how to disciplinethem, you get disappointed for a
(08:19):
shorter amount of time.
So maybe the first I rememberthe first time I made a phone
call.
Uh, I was like hey, do you wantto sell your jet?
And they're like Nope, click.
And like that was my very firstphone call as a private jet
broker and I was disappointed.
And I mulled over that forabout a half an hour and I was
like what did I do wrong?
Could I have done this better?
Maybe I should have looked upsomething, and then I just got
back on the phone.
(08:49):
You can discipline yourdisappointments two ways.
One you can be in anenvironment where you have
permission to fail.
Which is a good thing aboutworking with a brokerage is that
you can be in an environmentwhere you're expected to learn
calls in one day.
Maybe your next milestone is ahundred calls in a day and maybe
then you start to shift thingsover to you know what, instead
(09:19):
of just making 50 calls, I'mgoing to go for 50 no's.
I'm going to need 50 people totell me no or hang up on me or
not, right now, before I get offthe phones.
And then you just kind ofchange your little mindsets and
that's how you build momentum.
And when you have that momentumit increases your confidence,
so you're able to disciplineyour disappointments even better
.
So good stuff, alex.
Let's see what else you got,buddy.
Speaker 2 (09:40):
Workout brokers often make is not putting enough
effort into generating leads ornot even knowing what to start
with a potential client.
Speaker 1 (09:47):
Preach.
Let me give you some advice.
Speaker 2 (09:49):
First and foremost, you have to understand that this
business is all about buildingrelationships and it takes
multiple touch points forsomeone to agree to work with
you.
Don't expect someone to sign anexclusive listing or
acquisitions agreement with youon the first email or phone call
.
This is not going to happen.
Speaker 1 (10:06):
Two things about this .
Number one, think about whatyou're doing as a broker.
You're hello, mr Smith, mrUltra high net worth individual
that can afford a $2 million jet.
You've never met me and youdon't even know what my face
looks like or know anythingabout me, but I'm calling to ask
you if I can list your $2million jet and be responsible
for selling it for you.
And, by the way, will you payme $100,000 to do that?
No wonder you get a click allthe time.
(10:29):
Right, what you're asking ishard, it takes time and and and
it takes multiple touch points,like Alex is saying, and that's
why you got to have a system inplace, a process in place to to
reach out and to be as effectiveas possible.
Every time you reach out, tofollow up on a consistent basis,
to recognize that you're goingto have to talk to that person
or reach out to them at least 10, 12, 15, 20 times, and you're
(10:51):
going to be okay with it.
This is part of your job, thisis about commission, this is
about going out, hunting, eatingwhat you kill.
This is the life man, and theother thing I would say about it
is having the systems andprocess is super important.
Speaker 2 (11:07):
And then, as far as what did he say, he said
something that it is importantto also keep track of them in a
CRM such as PipeDrive.
Now there are two ways togenerate leads that I want to
cover in this video.
Speaker 1 (11:20):
Okay, before I go into that, there was something
he was talking about.
They underestimate howdifficult it is.
Yeah, I mean, you're calling arandom stranger interrupting
their day and you have to builda relationship off that.
That's really tough, I think.
At the end of the day, what Iwant to say is that's why it's
really helpful to work with abrokerage, that's why it's
(11:42):
helpful to have a coach or amentor or somebody alongside
with you to do that.
So I mean, if you guys arelooking to get into aviation,
when you think about aviationfor a second.
It's such an untapped market.
There's so much potentialbecause it's been gated for so
long.
There's a lot of amazingbrokers out there right now been
in the industry for 10, 20, 30,40 years.
It's generational, and thoseare amazing brokers.
But guess what?
They can't serve the entirepopulation of people who want to
(12:06):
be in aviation because more andmore people are getting
involved in private aviation.
It's becoming more accessibleas prices kind of change, kind
of change and and and and.
There's a new influx of, ofultra high net worth individuals
, I mean the, the old ones, they, they, they, they pass on.
And then there's new richpeople and those new rich people
are going to need people tohelp them and and maybe it's
(12:26):
those, those brokers that havebeen in business for years.
But I think there's enough of amarket share for new people, for
individuals, maybe likeyourself, that are looking for
career change, looking forsomething exciting, or who want
to be a part of aviation.
But maybe you don't.
You can't get a pilot's license, it's too expensive, or you
can't get the medical, or maybeyou used to be a pilot, now you
want to try something different.
I don't know.
There's just so manyopportunities and reasons why
(12:47):
people want to get in aviationand I want to help them.
That's why we created JetLifeArrow and that's why we have the
program.
Go to theultimatejetguycom andschedule a call with me so I can
walk you through how you canget involved in aviation on the
sales side and the acquisitionside.
Anyway, it's really cool.
I'm really excited about it,but let's get back to Alex and
let's see what else he wants totalk about how to get leads.
(13:08):
This will be good.
Speaker 2 (13:09):
Which are active and passive lead gen.
Let's start with passive leadgen.
The easiest way to get startedis you know what?
Speaker 1 (13:16):
If you want to see active and passive lead
generation, I think you shouldgo watch his video.
I'm going to give that one toAlex, so let's see what else
he's got to say about themistakes that people make.
So go check out the video ifyou want active, passive leads.
Speaker 2 (13:31):
Next in the list is lack of follow-up.
So, now that you have a list ofpotential clients you contacted
or they have interacted withyour content, many aircraft
brokers make the mistake of notfollowing up consistently with
their leads and this is wherethey lose potential customers.
A study by HubSpot states that80% of closed deals require at
least five follow-ups after theinitial contact of closed deals
(13:53):
require at least five follow-upsafter the initial contact.
Therefore, it's essential tohave a proper system in place
for a consistent follow-up,whether it be through email
campaigns or phone calls.
I highly recommend using a CRMsuch as Pipedrive or Salesforce
to manage and track your leads.
It's also crucial to have aschedule and stick to it.
Speaker 1 (14:13):
Yeah.
So follow-up is great.
It's a really important skillto have and it can just feel
like so much when you're doingthis on your own.
You're just like, oh, I'malways following up, I don't
know, there's so much stuff todo.
I got to make new calls.
I got to follow up.
Listen, keep it simple.
Pick a market, call that market, call them again.
Keep calling them.
Send them an email, send them atext message.
(14:34):
Give them value.
Send them a market report.
Find a news article, email itto them, text it to them.
I think something that's reallyimportant that people don't
differentiate between is when itcomes to follow-up.
There's how you follow up andwhat you follow up with.
The how is pretty basic Call,text, email, direct mail, social
media.
That's the how.
(14:55):
I think what's more importantis the what.
What is your follow-up?
How can you provide value topeople so that they want to talk
to you?
If someone calls me, I get acold call.
Usually it's Medicaid or healthinsurance enrollment or sales
training.
Those are the main things I getcold calls on, and the most
effective ones are the salestraining ones, because they
usually have something to offerme.
(15:15):
Hey, we've got a new deal.
Hey, we've got a new eventcoming up.
Hey, we've got a new book, newproduct, new service, yada, yada
, yada.
The Medicare and the healthinsurance people are the worst.
They're like hey, we're callingabout Medicare.
Hey, we're calling about healthinsurance.
No, hey, we're calling abouthealth insurance.
Take me off your list.
Hey, we're calling about healthinsurance.
I told you to take me off mylist.
Like they, just that's all theysay.
(15:35):
They literally call and they'relike hey, I want to see if
you're ready to sign up forhealth insurance.
So if you're a jet broker andall you're doing is calling hey,
you want to sell your jet.
Hey, you want to sell your jet.
Hey, you want to sell your jet?
Send a text message.
Hey, you want to sell your jet?
Send them on social media, dm.
Hey, you want to sell your jet?
The how doesn't do anything,even though you've changed
(15:58):
different hows.
The what is all you're doing isasking them a question that
doesn't help Provide value tothem.
Hey, listen, I'm sure you'reprobably not looking to sell
your jet right now, but I have amarket report on the CJ2s.
Would you like me to send it toyou so you can see what your
jet is worth?
Or, hey, for the next week, I'mproviding free evaluations on
VREF for owners that arethinking about selling.
(16:20):
Or have you thought aboutselling your CJ2 and would you
like a valuation, an appraisalon what your jet might be worth?
Or hey, I've got a guy that'slooking for a CJ2.
I know you weren't looking tosell.
Would you be open to possibleoff-market offers?
Or hey, we just noticed thatthe sales price on the CJ2s are
dropping.
You're giving them news?
Or hey, we just noticed that.
(16:45):
Hey, I found this funny videoabout why people hate commercial
airlines.
Check it out, get a laugh.
The how is important, but Ithink the what you do as your
follow-up is even more important.
And again, that's why we havetraining with this and this is
why we give details out forpeople who are aspiring jet
brokers, because we do need tofollow up multiple times, but we
can't keep asking them hey, doyou want to sell your jet?
Hey, do you want to sell yourjet?
Hey, do you want to sell yourjet?
Speaker 2 (17:07):
It's not going to work that way, Whether it be
when it comes to convertingleads into customers.
Last in the list is not settinggoals for yourself.
Without goals, it's challengingto measure success and identify
areas for improvement.
You should set both short-termand long-term goals, such as the
number of leads you want togenerate in a month or the
revenue you aim to make in ayear.
(17:29):
These goals will drive yourdaily actions and keep you
motivated to continually improveand grow your brokerage.
It's also important toregularly track your progress
towards these goals and makeadjustments as needed to stay on
track.
By setting specific, measurable, realistic and timely goals,
you will have the roadmap forsuccess in the aircraft sales
(17:49):
industry.
So this is it for today.
Speaker 1 (17:51):
I hope you enjoyed I'm going to push back on these
goals.
Yeah, smart goals are important,but I think you need to break
it down a little bit more.
So, yeah, I want to make sixfigures.
How am I going to do that?
I'm going to sell 20 jets andmake sure my commission is at
least $5,000.
Okay, I'm going to sell 20 jetsmeans I got to sell almost two
a month, okay, great.
Well, how are you going to getto those sales?
(18:11):
You need to know the numbersand so, if you work it backwards
, it comes down to, I think,something along the line of like
10,000 phone calls If you make.
It's something along the linesof if you make for every sale,
you would have had to have atleast three under contract.
If you would have had threeunder contract, that means you
(18:32):
probably had at least five to 10listings.
Let's go with 10 listings Inorder to get 10 listings.
So this is for one sale.
In order to get those 10listings and this is like having
a listing at a given time Inorder to get those 10 listings,
you probably had to do at least30 pitches, that's, people that
were qualified to talk to, andto get 30 pitches in front of
(18:54):
them, you probably had to get tosomething along the lines of
300 people that you had to talkto and that's like, have the
first conversation's, like havethe first conversation, like are
you open to selling, and theysaid yes Of the 300.
To get to there, you probablyhad to make 3000 phone calls to,
(19:15):
to, to, to get out that far, umto, to get to talk to people,
and if you do that a couple oftimes I think we start at like
10 K.
So so the challenge what we,what I tell people who come in
to work with me is it's a raceto 10,000 phone calls to get a
deal.
So if you need 10,000 phonecalls and you divide that by 100
(19:39):
calls a day, that's 100 days.
Now most people are not workingseven days a week, so a hundred
days.
They're usually working 22, 22days a month.
So a hundred divided by 22 isfour and a half, four and a half
months.
So you're about four and a half, six months to your first sale.
10,000 calls.
I'm going to break your.
(20:00):
So I'm taking what Alex issaying and I'm breaking it down
even more granular to show youwhat it's going to take.
So how fast can you get to10,000 calls.
That's a hundred calls a day infour and a half months, okay,
will you find someone who'sready to sell along the line,
Like before that?
Yeah, sure, it's definitelypossible.
So, yeah, I think Alex is right, like we need to set goals, but
also I'm going to get a littlebit more granular with those
(20:23):
goals.
So listen, before we head out.
I want to share one more thingwith you guys.
I'm really excited about this.
Like, if you're, if you'relooking to be a jet broker too,
there's two things you need todo.
Number one you need to go tothe ultimate jet guidecom, okay,
and you need to schedule a callwith me.
Let's talk.
I want to talk with you, I wantto answer your questions.
(20:44):
I want to, you know, share myexperience with you.
But, more importantly, like,answer the questions that you
have, like Tom, how do I getstarted?
Or like, how hard is it really,tom?
Or you know, what is it?
What does it cost?
So, step one go to theultimatejetguycom, check out
some videos.
What does it take to be a jetbroker?
Um, amazing YouTuber, check outhis channel.
Uh, learn the story of AlexStrohmeyer, who made $18,000 in
(21:07):
his first deal.
Uh, I think that was in likefour or five months from when he
started with us.
Um, learn about becoming anaircraft broker how you know
things kind of work on jet lifearrow and we've got other stuff
on our YouTube channel, but gothere and then, secondly, go to
circlejetlifearrowcom and checkout our circle community.
Within the circle community, wehave a free, free, free course.
(21:30):
Learn what are the apps that weuse as jet brokers.
How to get a job as a broker,choosing which jets you want to
sell.
What's the overview foraviation documents, how brokers
get paid.
How to get started withresearch.
This is also if you can do onyour own to become a broker and
to act like a broker withoutpaying anything, because there's
no license or certification tobe a jet broker.
So you can get started todaywith with nothing.
(21:50):
But if you're looking for a wayto shrink time and get started
today, work with me one-on-oneand learn all the skills and get
access to all the documentsthat we use at jet life arrow.
Get access to ongoing training.
We've've got our JetLife Academy, broker Academy, and the 24
lessons take about a weekend ora week depending on how focused
(22:12):
you want to be to get it done.
We work on how aviation works,how to become a professional,
what's the sales frameworkdocuments, overview everything
you need to know.
At the end of this program.
It costs $2,500 right now.
End of this program.
It costs $2,500 right now, butat the end of this program
you're also going to spend twodays with me and at the end of
those two days you're going tohave three options.
You can either one you canbecome a jet broker yourself.
(22:35):
Number two I'll write you aletter of recommendation.
Get your foot in the door withother brokerages throughout the
country.
Or, number three come work withJetLife Aero.
We have a whole program andsystem in place for people just
like you, with no aviationbackground, to get started in
aviation, and I would love toshare more with you about that.
So if you want to learn more,go to TheUltimateJetGuycom.
Don't forget to click thesubscribe button.
So if you're a jet broker and all you're doing is
calling, hey, you want to sellyour jet, hey, you want to sell
your jet, hey, you want to sellyour jet no one's going to
listen to you.
The how you know doesn't doanything, even though you've
changed different hows, the whatis all you're doing is asking
them a question.
That doesn't help.
Hello, hello everybody andwelcome.
(00:20):
My name is Tom Lelio and onthis channel we pull back the
curtain on private aviation.
Whether you're a buyer or abroker or an inspiring broker,
we help you buy and sell privatejets with no experience
necessary.
Today we're doing a reactsvideo with my buddy, alex B,
over at the Aircraft BrokerAcademy Just dropped another
(00:43):
amazing video why new aircraftbrokers fail the top five
mistakes and we're going to see.
Over at the Aircraft BrokerAcademy Just dropped another
amazing video why New AircraftBrokers Fail the top five
mistakes and we're going to see.
We're going to see if he knowswhat he's talking about and if I
agree with him or not.
So let's check it out.
Speaker 2 (00:54):
The number one most common mistake that new aircraft
brokers make is havingunrealistic expectations.
Boom boom.
Speaker 1 (01:00):
Number one, I'm with you, let's go.
Speaker 2 (01:07):
I can't tell you how many times students have told me
that they want to be like SteveBarzano and sell Gulfstream
Globals or Falcon.
Speaker 1 (01:11):
How come nobody's telling them that they want to
be like Tom Lelio?
I mean, I don't know.
He's got to be talking to thewrong people.
I guess they're watching thewrong YouTuber.
Speaker 2 (01:18):
I'm not saying it's impossible, but many new
aircraft brokers enter theindustry believing that they
will be able to closemillion-dollar deals quickly and
make huge profits.
Speaker 1 (01:28):
I'm going to push back just for a second here.
When it comes to unrealisticexpectations and I think you
might get to it later for meit's not that people come in and
think that they're just goingto sell Gulfstreams, it's more
they don't understand the amountof work that it's going to take
to get to that level.
But I think he might go intothat later, we'll see.
But let's just see what he'stalking about with their
(01:48):
unrealistic expectations.
Speaker 2 (01:50):
However, the reality is that it takes time to build a
network, establish trust withyour clients and understand the
complex process involved inbuying or selling aircraft.
Speaker 1 (01:59):
That's true.
That's true.
So selling and buying privatejets is simple, but it's not
easy and it's also complex.
And what I mean by that is youfind a jet, you list a jet, you
sell a jet.
It's that simple.
But within that, there's a lotof different steps that go into.
Well, what does that mean?
To get a listing?
How do I market a listing?
(02:20):
How do I handle offers?
How do I write up offers?
How do I open up escrow?
How do I navigate through thepre-buy?
How do I help them takedelivery?
There's a lot of things that gointo it.
But yeah, if you don't have allthat stuff, you shouldn't be
calling yourself a broker.
Speaker 2 (02:37):
For example, I started in the piston market
selling Cessna 172s, navajos andWarriors.
It might not be as glamorous asselling a G550, but you can
still make a great commission.
So to avoid this mistake, it'simportant for new aircraft
brokers to have a clearunderstanding of the industry
and set realistic goals forthemselves.
Building a successful career asan aircraft broker requires a
(03:00):
lot of patience, hard work andperseverance.
For example, back in 2018, whenI started my brokerage, it took
me a whole year to sell myfirst airplane, but I never gave
up and eventually I startedbuilding momentum.
Now this leads me to the nextmistake.
Speaker 1 (03:14):
So before we get into the next mistake, a couple of
things With Alex.
I'm 90% sure when he became abroker he wasn't doing that full
time.
I think he was also a pilot.
So for him to take a year tosell a jet or to sell an
aircraft, okay great, you hadother things going on.
So that's what happened, and Ithink it's to his point to have
realistic goals.
(03:35):
And so people will come andtalk to me and say like, hey,
tom, when can I get my firstcommission?
And I'll usually tell themabout six months, and that's a
little bit of an overshoot, butI think it's probably going to
be where it's at.
And the reason I give that isbecause that's what happened to
me.
I came into aviation with nobackground.
I was a youth minister for 10years and when I came into
aviation I had no idea.
(03:56):
I had no idea what to do.
I had no idea how aviationworks.
I had no idea how complex thesystems were.
I had no idea, you know,building relationships over the
phone Was this the first time Iwas doing it?
So you know, I came into it,but my first year I did 20 deals
and made six figures, and thereason I was able to do that was
because I just put my head down.
(04:17):
I did what my coaches and mymanagers told me.
I paid for extra training.
I dropped over $10,000 my firstyear once I got commission to
get more training.
So the money I made went rightback into my training and I
think that's part of the reasonswhy my income doubled the next
year and tripled the followingyear.
So, yeah, I mean, I'm with you,alex, 100%.
(04:38):
I think that's really importantto get all those things and
have the right expectations andset good goals and be and be.
Just have a realisticexpectations that you can get
into this part-time, but it'sgoing to take you longer.
So if you want to make if Imade six figures my first year
full-time if somebody wants togo part-time, it might take you
(05:00):
a full year to make 50K,something like that, and just
don't be afraid to adjust yourexpectations.
What I want to say is don't letyour expectations hold you back
from getting started as abroker.
So if you need a six-figureincome but you can't quit your
job and go nine to five, what Iwould say is go part-time and
(05:23):
just be okay with and satisfiedby, 50k for the year.
Don't wait till you have toquit your job.
Just grind it out for a littlebit and get the experience so
that the following year you canreally crush it.
Speaker 2 (05:36):
Able to deal with rejection.
I'm going to be completelyhonest with you.
When I first started, I wasfrightened and I even felt
embarrassed at times to tellpeople what I was doing, since I
didn't have any experienceselling airplanes.
Speaker 1 (05:47):
Yes, I totally felt this way when I first started
selling jets.
I was embarrassed to tellpeople I sold jets because I had
never sold a jet.
And even when I started sellingjets I felt weird because I was
like I can't believe this isreally happening.
I sell jets and even now it'sfunny because sometimes you go
into industry you know mixersand stuff and they're like, hey,
what do you do?
I'm like I sell jets and like,oh, cool, which ones?
And I'm like, well, the oldones you know from the 1970s and
(06:09):
80s.
I'm like, really, I can'tbelieve anybody buys that
anymore.
It's like, well, thanks, theydo, and I'm happy living my jet
life to the fullest.
Oh, but that's why one of thegood things about working with
Jet Life Aero is you can lean onthe success of the company and
(06:32):
you don't have to worry aboutyour own personal success.
It's one of the advantages ofworking with a brokerage instead
of just trying to do it on yourown.
Speaker 2 (06:36):
I'm worried about what other people thought about
me, since I also started otherbusinesses that failed.
The funny thing is that thepeople whose opinions I cared
about are still stuck in thesame place, so I can emphasize
how important it is to get ridof these feelings.
Speaker 1 (06:52):
Yes, it's really important that Alex points out
that.
The think about who you'relistening to and if the people
whose opinions that matter mostto you are individuals that
don't have the level of success,whatever that means spiritual,
emotional, financial, business,If the people that you're
listening to don't have thatlevel of success that you're
striving for, I think you shouldcount their opinion a little
(07:14):
bit less.
Now, of course, spouses andfamily.
You know they have a specialplace, but at the same time, if
your family members in lawsaren't in the same financial
situation that you want to be,why are we listening to them for
advice on how to get out ofwhere your current situation is?
Speaker 2 (07:32):
And unfortunately this is not something that I can
teach.
This is an internal battle thatyou must win on your own, so
don't be afraid to put yourselfout there and getting rejected
by clients.
It's important to remember thatit is not a reflection of your
skills or abilities.
Sometimes the timing may not beright for the client.
The key is not to takerejection personally and instead
(07:54):
use it as motivation to improveand continue pursuing new
opportunities.
Speaker 1 (07:58):
Another mistake that this is really important
Learning to deal with rejection.
A couple of things.
Number one you got to learn howto deal with your
disappointments.
I'm sorry, discipline yourdisappointments.
It's important to learn how todiscipline your disappointments.
You're going to be disappointed, that's natural, it's okay.
But what happens is over time.
If you learn how to disciplinethem, you get disappointed for a
(08:19):
shorter amount of time.
So maybe the first I rememberthe first time I made a phone
call.
Uh, I was like hey, do you wantto sell your jet?
And they're like Nope, click.
And like that was my very firstphone call as a private jet
broker and I was disappointed.
And I mulled over that forabout a half an hour and I was
like what did I do wrong?
Could I have done this better?
Maybe I should have looked upsomething, and then I just got
back on the phone.
(08:49):
You can discipline yourdisappointments two ways.
One you can be in anenvironment where you have
permission to fail.
Which is a good thing aboutworking with a brokerage is that
you can be in an environmentwhere you're expected to learn
calls in one day.
Maybe your next milestone is ahundred calls in a day and maybe
then you start to shift thingsover to you know what, instead
(09:19):
of just making 50 calls, I'mgoing to go for 50 no's.
I'm going to need 50 people totell me no or hang up on me or
not, right now, before I get offthe phones.
And then you just kind ofchange your little mindsets and
that's how you build momentum.
And when you have that momentumit increases your confidence,
so you're able to disciplineyour disappointments even better
.
So good stuff, alex.
Let's see what else you got,buddy.
Speaker 2 (09:40):
Workout brokers often make is not putting enough
effort into generating leads ornot even knowing what to start
with a potential client.
Speaker 1 (09:47):
Preach.
Let me give you some advice.
Speaker 2 (09:49):
First and foremost, you have to understand that this
business is all about buildingrelationships and it takes
multiple touch points forsomeone to agree to work with
you.
Don't expect someone to sign anexclusive listing or
acquisitions agreement with youon the first email or phone call
.
This is not going to happen.
Speaker 1 (10:06):
Two things about this .
Number one, think about whatyou're doing as a broker.
You're hello, mr Smith, mrUltra high net worth individual
that can afford a $2 million jet.
You've never met me and youdon't even know what my face
looks like or know anythingabout me, but I'm calling to ask
you if I can list your $2million jet and be responsible
for selling it for you.
And, by the way, will you payme $100,000 to do that?
No wonder you get a click allthe time.
(10:29):
Right, what you're asking ishard, it takes time and and and
it takes multiple touch points,like Alex is saying, and that's
why you got to have a system inplace, a process in place to to
reach out and to be as effectiveas possible.
Every time you reach out, tofollow up on a consistent basis,
to recognize that you're goingto have to talk to that person
or reach out to them at least 10, 12, 15, 20 times, and you're
(10:51):
going to be okay with it.
This is part of your job, thisis about commission, this is
about going out, hunting, eatingwhat you kill.
This is the life man, and theother thing I would say about it
is having the systems andprocess is super important.
Speaker 2 (11:07):
And then, as far as what did he say, he said
something that it is importantto also keep track of them in a
CRM such as PipeDrive.
Now there are two ways togenerate leads that I want to
cover in this video.
Speaker 1 (11:20):
Okay, before I go into that, there was something
he was talking about.
They underestimate howdifficult it is.
Yeah, I mean, you're calling arandom stranger interrupting
their day and you have to builda relationship off that.
That's really tough, I think.
At the end of the day, what Iwant to say is that's why it's
really helpful to work with abrokerage, that's why it's
(11:42):
helpful to have a coach or amentor or somebody alongside
with you to do that.
So I mean, if you guys arelooking to get into aviation,
when you think about aviationfor a second.
It's such an untapped market.
There's so much potentialbecause it's been gated for so
long.
There's a lot of amazingbrokers out there right now been
in the industry for 10, 20, 30,40 years.
It's generational, and thoseare amazing brokers.
But guess what?
They can't serve the entirepopulation of people who want to
(12:06):
be in aviation because more andmore people are getting
involved in private aviation.
It's becoming more accessibleas prices kind of change, kind
of change and and and and.
There's a new influx of, ofultra high net worth individuals
, I mean the, the old ones, they, they, they, they pass on.
And then there's new richpeople and those new rich people
are going to need people tohelp them and and maybe it's
(12:26):
those, those brokers that havebeen in business for years.
But I think there's enough of amarket share for new people, for
individuals, maybe likeyourself, that are looking for
career change, looking forsomething exciting, or who want
to be a part of aviation.
But maybe you don't.
You can't get a pilot's license, it's too expensive, or you
can't get the medical, or maybeyou used to be a pilot, now you
want to try something different.
I don't know.
There's just so manyopportunities and reasons why
(12:47):
people want to get in aviationand I want to help them.
That's why we created JetLifeArrow and that's why we have the
program.
Go to theultimatejetguycom andschedule a call with me so I can
walk you through how you canget involved in aviation on the
sales side and the acquisitionside.
Anyway, it's really cool.
I'm really excited about it,but let's get back to Alex and
let's see what else he wants totalk about how to get leads.
(13:08):
This will be good.
Speaker 2 (13:09):
Which are active and passive lead gen.
Let's start with passive leadgen.
The easiest way to get startedis you know what?
Speaker 1 (13:16):
If you want to see active and passive lead
generation, I think you shouldgo watch his video.
I'm going to give that one toAlex, so let's see what else
he's got to say about themistakes that people make.
So go check out the video ifyou want active, passive leads.
Speaker 2 (13:31):
Next in the list is lack of follow-up.
So, now that you have a list ofpotential clients you contacted
or they have interacted withyour content, many aircraft
brokers make the mistake of notfollowing up consistently with
their leads and this is wherethey lose potential customers.
A study by HubSpot states that80% of closed deals require at
least five follow-ups after theinitial contact of closed deals
(13:53):
require at least five follow-upsafter the initial contact.
Therefore, it's essential tohave a proper system in place
for a consistent follow-up,whether it be through email
campaigns or phone calls.
I highly recommend using a CRMsuch as Pipedrive or Salesforce
to manage and track your leads.
It's also crucial to have aschedule and stick to it.
Speaker 1 (14:13):
Yeah.
So follow-up is great.
It's a really important skillto have and it can just feel
like so much when you're doingthis on your own.
You're just like, oh, I'malways following up, I don't
know, there's so much stuff todo.
I got to make new calls.
I got to follow up.
Listen, keep it simple.
Pick a market, call that market, call them again.
Keep calling them.
Send them an email, send them atext message.
(14:34):
Give them value.
Send them a market report.
Find a news article, email itto them, text it to them.
I think something that's reallyimportant that people don't
differentiate between is when itcomes to follow-up.
There's how you follow up andwhat you follow up with.
The how is pretty basic Call,text, email, direct mail, social
media.
That's the how.
(14:55):
I think what's more importantis the what.
What is your follow-up?
How can you provide value topeople so that they want to talk
to you?
If someone calls me, I get acold call.
Usually it's Medicaid or healthinsurance enrollment or sales
training.
Those are the main things I getcold calls on, and the most
effective ones are the salestraining ones, because they
usually have something to offerme.
(15:15):
Hey, we've got a new deal.
Hey, we've got a new eventcoming up.
Hey, we've got a new book, newproduct, new service, yada, yada
, yada.
The Medicare and the healthinsurance people are the worst.
They're like hey, we're callingabout Medicare.
Hey, we're calling about healthinsurance.
No, hey, we're calling abouthealth insurance.
Take me off your list.
Hey, we're calling about healthinsurance.
I told you to take me off mylist.
Like they, just that's all theysay.
(15:35):
They literally call and they'relike hey, I want to see if
you're ready to sign up forhealth insurance.
So if you're a jet broker andall you're doing is calling hey,
you want to sell your jet.
Hey, you want to sell your jet.
Hey, you want to sell your jet?
Send a text message.
Hey, you want to sell your jet?
Send them on social media, dm.
Hey, you want to sell your jet?
The how doesn't do anything,even though you've changed
(15:58):
different hows.
The what is all you're doing isasking them a question that
doesn't help Provide value tothem.
Hey, listen, I'm sure you'reprobably not looking to sell
your jet right now, but I have amarket report on the CJ2s.
Would you like me to send it toyou so you can see what your
jet is worth?
Or, hey, for the next week, I'mproviding free evaluations on
VREF for owners that arethinking about selling.
(16:20):
Or have you thought aboutselling your CJ2 and would you
like a valuation, an appraisalon what your jet might be worth?
Or hey, I've got a guy that'slooking for a CJ2.
I know you weren't looking tosell.
Would you be open to possibleoff-market offers?
Or hey, we just noticed thatthe sales price on the CJ2s are
dropping.
You're giving them news?
Or hey, we just noticed that.
(16:45):
Hey, I found this funny videoabout why people hate commercial
airlines.
Check it out, get a laugh.
The how is important, but Ithink the what you do as your
follow-up is even more important.
And again, that's why we havetraining with this and this is
why we give details out forpeople who are aspiring jet
brokers, because we do need tofollow up multiple times, but we
can't keep asking them hey, doyou want to sell your jet?
Hey, do you want to sell yourjet?
Hey, do you want to sell yourjet?
Speaker 2 (17:07):
It's not going to work that way, Whether it be
when it comes to convertingleads into customers.
Last in the list is not settinggoals for yourself.
Without goals, it's challengingto measure success and identify
areas for improvement.
You should set both short-termand long-term goals, such as the
number of leads you want togenerate in a month or the
revenue you aim to make in ayear.
(17:29):
These goals will drive yourdaily actions and keep you
motivated to continually improveand grow your brokerage.
It's also important toregularly track your progress
towards these goals and makeadjustments as needed to stay on
track.
By setting specific, measurable, realistic and timely goals,
you will have the roadmap forsuccess in the aircraft sales
(17:49):
industry.
So this is it for today.
Speaker 1 (17:51):
I hope you enjoyed I'm going to push back on these
goals.
Yeah, smart goals are important,but I think you need to break
it down a little bit more.
So, yeah, I want to make sixfigures.
How am I going to do that?
I'm going to sell 20 jets andmake sure my commission is at
least $5,000.
Okay, I'm going to sell 20 jetsmeans I got to sell almost two
a month, okay, great.
Well, how are you going to getto those sales?
(18:11):
You need to know the numbersand so, if you work it backwards
, it comes down to, I think,something along the line of like
10,000 phone calls If you make.
It's something along the linesof if you make for every sale,
you would have had to have atleast three under contract.
If you would have had threeunder contract, that means you
(18:32):
probably had at least five to 10listings.
Let's go with 10 listings Inorder to get 10 listings.
So this is for one sale.
In order to get those 10listings and this is like having
a listing at a given time Inorder to get those 10 listings,
you probably had to do at least30 pitches, that's, people that
were qualified to talk to, andto get 30 pitches in front of
(18:54):
them, you probably had to get tosomething along the lines of
300 people that you had to talkto and that's like, have the
first conversation's, like havethe first conversation, like are
you open to selling, and theysaid yes Of the 300.
To get to there, you probablyhad to make 3000 phone calls to,
(19:15):
to, to, to get out that far, umto, to get to talk to people,
and if you do that a couple oftimes I think we start at like
10 K.
So so the challenge what we,what I tell people who come in
to work with me is it's a raceto 10,000 phone calls to get a
deal.
So if you need 10,000 phonecalls and you divide that by 100
(19:39):
calls a day, that's 100 days.
Now most people are not workingseven days a week, so a hundred
days.
They're usually working 22, 22days a month.
So a hundred divided by 22 isfour and a half, four and a half
months.
So you're about four and a half, six months to your first sale.
10,000 calls.
I'm going to break your.
(20:00):
So I'm taking what Alex issaying and I'm breaking it down
even more granular to show youwhat it's going to take.
So how fast can you get to10,000 calls.
That's a hundred calls a day infour and a half months, okay,
will you find someone who'sready to sell along the line,
Like before that?
Yeah, sure, it's definitelypossible.
So, yeah, I think Alex is right, like we need to set goals, but
also I'm going to get a littlebit more granular with those
(20:23):
goals.
So listen, before we head out.
I want to share one more thingwith you guys.
I'm really excited about this.
Like, if you're, if you'relooking to be a jet broker too,
there's two things you need todo.
Number one you need to go tothe ultimate jet guidecom, okay,
and you need to schedule a callwith me.
Let's talk.
I want to talk with you, I wantto answer your questions.
(20:44):
I want to, you know, share myexperience with you.
But, more importantly, like,answer the questions that you
have, like Tom, how do I getstarted?
Or like, how hard is it really,tom?
Or you know, what is it?
What does it cost?
So, step one go to theultimatejetguycom, check out
some videos.
What does it take to be a jetbroker?
Um, amazing YouTuber, check outhis channel.
Uh, learn the story of AlexStrohmeyer, who made $18,000 in
(21:07):
his first deal.
Uh, I think that was in likefour or five months from when he
started with us.
Um, learn about becoming anaircraft broker how you know
things kind of work on jet lifearrow and we've got other stuff
on our YouTube channel, but gothere and then, secondly, go to
circlejetlifearrowcom and checkout our circle community.
Within the circle community, wehave a free, free, free course.
(21:30):
Learn what are the apps that weuse as jet brokers.
How to get a job as a broker,choosing which jets you want to
sell.
What's the overview foraviation documents, how brokers
get paid.
How to get started withresearch.
This is also if you can do onyour own to become a broker and
to act like a broker withoutpaying anything, because there's
no license or certification tobe a jet broker.
So you can get started todaywith with nothing.
(21:50):
But if you're looking for a wayto shrink time and get started
today, work with me one-on-oneand learn all the skills and get
access to all the documentsthat we use at jet life arrow.
Get access to ongoing training.
We've've got our JetLife Academy, broker Academy, and the 24
lessons take about a weekend ora week depending on how focused
(22:12):
you want to be to get it done.
We work on how aviation works,how to become a professional,
what's the sales frameworkdocuments, overview everything
you need to know.
At the end of this program.
It costs $2,500 right now.
End of this program.
It costs $2,500 right now, butat the end of this program
you're also going to spend twodays with me and at the end of
those two days you're going tohave three options.
You can either one you canbecome a jet broker yourself.
(22:35):
Number two I'll write you aletter of recommendation.
Get your foot in the door withother brokerages throughout the
country.
Or, number three come work withJetLife Aero.
We have a whole program andsystem in place for people just
like you, with no aviationbackground, to get started in
aviation, and I would love toshare more with you about that.
So if you want to learn more,go to TheUltimateJetGuycom.
Don't forget to click thesubscribe button.
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