Motivation & Disciplines for Financial and Insurance Professionals

 

Motivation  & Disciplines for Financial and Insurance Professionals

Surround yourself with the dreamers and the doers; the believers and thinkers; but most of all, surround yourself with those who see the greatness within you, even when you don’t see it yourself. - Edmond Lee.

Wish you a productive day ahead !

Don't focus too much on your dreams; focus on your systems instead.

Winners and losers have the same dreams, everybody wants to win.

What makes the difference are the systems you put in place, every single day, to reach your dreams.

Unexpected Problems Are Part Of Life...so also Unexpected Results...

Never Lose Hope And Never Give Up At Any Condition..

Anything Is Possible...

 With our Attitude and Efforts

UNEXPECTED PROBLEMS CAN BE CONVERTED INTO UNEXPECTED OPPORTUNITIES TO BRING.....

UNEXPECTED VICTORY

If you make it a habit..

To make your Today better than Your Yesterday..

then..

For sure, Your Tomorrow will be better than Your Today!

Maintain your innocence in getting a YES or NO.

You’ve asked for the sale. The response is either YES, NO, or

“Let me think about it.”

 

YES and NO are both good answers.

Give up hoping for a YES and you’ll

get more of them. If YES is heaven

and NO is hell, purgatory is “Let me

think about it.”

Tell your prospective clients that “Let me think about it” is a NO,

at least for now—and that it’s okay for them to say NO.

Be willing, too, to accept a NO. It’s not a rejection.

Needy is creepy.

Your need is the ugliest thing that you can ever show a client or

prospect. If a prospect or client suspects that you’re trying to meet or trying

to make a sale for your benefit—and not entirely for theirs—you will lose them.

No matter how much you need business, it can’t show. And it

would be much better if you could convince yourself that you

don’t need it. Focus on the clients’ needs. That’s what gets you

the sale.

Drill down to find the goals behind your clients’ goals—

the needs behind their needs.

Discipline 7 is connected here: Finding

out what the clients really want. Ask a question about something the client

wants and she will tell you “A”.

Ask, “If

you have “A”, what will that get you?”

She will tell you “B”.

Now ask, “If you have “B” what will that

get you?”

She will tell you “C”.

Now

ask, “If you have “C”, what will that ultimately get you?”

Here’s an example:

You: Radha, if something happened to Raju, would you want to stay

in this house?

Radha: Yes. If I can. (A)

You: A lot of women answer that way. What do you see as the

importance of staying here?

Radha: Well, we picked this area because it has an amazing school

system. If we had to leave, the kids’ lives would be

disrupted, but the real problem would be that they might

not be able to live where they have a school system like

this. (B)

You: I see. Does the school system really matter that much?

Why is that important?

Radha: If they go to a good school and do well, they can pretty

much get into any college they want and they’ll do well

there. (C)

You: So college obviously pretty important in your mind. What

does getting into a great college ultimately mean for

them?

Radha: You’re kidding, right? A good college is everything. They’ll

meet the right kind of people who will be lifelong friends.

They’ll be able to get decent paying jobs….(D)

The ultimate benefit now of the insurance policy, is that Radha's

children will get into great colleges and have a better life no

matter what. That’s what you sell.

Sell to the specific needs of clients.

 

As discussed in discipline 6, the best way to ensure a client’s

buy-in on a recommendation is not to talk about features and benefits. Instead, talk about “ultimate benefits”.

You could tell someone that

upon his death his family will receive few million rupees or you can tell him how the death benefit will ensure that his wife doesn’t

have to go back to work and will be able to raise the children in

their home, knowing that the mortgage is paid and the funds

are also available for that college education they wanted.

The rupee amount will have much less impact than the specific

ways in which the money will help his family reach their goals.

The more you can tie your sale to the specific needs the prospect

expressed in your conversation, the more likely it is that he’ll

jump on your offer.

Sell with stories and examples, not features and benefits

Most advisors spew out features, benefits, data and statistics to

dazzle their prospects with the marvelous products they are

offering. What prospects crave are stories, examples, analogies, metaphors and similes.

Draw them pictures—3 buckets for their money—an elevator

with five cables and an elevator with a single cable to show them

the advantage of diversified investing, an umbrella over their

money to shield it from taxes in a tax-deferred account, the river

where money flows down to the Internal revenue system from the estate with the

bridge they can use to carry the money across it to their heirs.

Use the ones you’ve learned. Make your own.

Every financial and insurance

professional must have at least five stories at their fingertips of

clients they’ve helped who have expressed their gratitude, what

they found when they sat with them and how it ended up. The stories will do the selling.

Don’t sell by mail or email.

Rarely are sales made without face-to-face,

or at least voice-to-voice interaction. The

likelihood that someone will read your long

email explanation and then authorize a sale

is much smaller than the likelihood that he

will authorize it when you meet in person.

But many advisors want to talk about features and benefits in a

long, well-written, detailed letter or email. Don’t do it.

Use emails to set and confirm appointments and for

administrative things, not sales.

Always keep the “half-life” of prospect enthusiasm in

mind.

If yours is a 2-appointment sales process, keep the appointments

as close as possible.

A prospect might be convinced after that first appointment that

you are the best advisor in the world and that you are the one

he needs. He might have authorised you to analyse his situation

and do some research and to come back with recommendations.

But if weeks go by, that initial enthusiasm drops from an “OMG,

I have to do this” to “I should do this” to “I probably should do

this” to “maybe I should wait and get another opinion”…and

so on.

This is what I mean when I talk about the half-life of enthusiasm.

The solution is to schedule the second appointment as close

to the first as is possible for you and the prospect.

Use your “inner circle” for most of your prospecting.

The people you already know and those you personally meet at any point in your career are the people who

are easiest to ask about working with you and most likely to

be open to meeting with you. So, before you exhaust yourself

on mailings and cold calls, look to your “inner circle”—the

people you know already—as the source of your business.

If you do this right, you can build a great 6-figure practice

without cold-calling without doing mailings, even without

seminars.

Deliver a “WOW” experience from the very first contact.

There are two primary ways to

turn clients into raving fans who

are 100% willing to give you all

their business and refer you to

everyone they know:

1.Serving them deeply & Wholeheartedly.

2. Astonishing them with your Integrity & Honesty.