Mike leads a training session on effective phone skills for sales, emphasizing the importance of engaging and enthusiastic communication. They advise standing, using a headset, and varying voice inflection to make interactions more interesting. They suggest asking open-ended questions to encourage natural conversation and recommends focusing on a prospect's monthly budget rather than asking about price range. They also highlight the importance of creating a friendly and non-threatening atmosphere to build trust with prospects. They encourage using the LP Momma technique (Location, Price, Mortgage, Appointment) to enhance sales interactions.