company and I have been teaching proven-effective selling practices to professionals in the financial services industry since the release of my first book, How to Master the Art of Selling, in 1980. We’ve had the privilege of helping to make a difference in the future of the world as families and individuals enjoy the peace of mind that comes from knowing they’ve made wise choices to protect their families, build wealth and plan for long-term retirement.
You may be wondering if the content of this book talks about your specific products. I know the industry is broad and includes everything from basic life insurance to intricate retirement and estate planning strategies. But, regardless of the product there is one common denominator----people. Yes, you sell financial products, but to whom? People. You are first and foremost in the people business. The skills for working effectively in the people business are covered here in detail and in a way that lets you start putting those skills to work immediately. Get your product knowledge from your company. Get your “selling products to people” skills here.
This book was written to customize the most requested topics from our general sales training to the financial services industry. I encourage you to make it a working tool, one that you continually refer to for information, guidance, help and inspiration.
Fold the page edges so you can easily find important passages.
Use a highlighter or underline material that strikes a chord within you.
Take notes in the margins, or use flags and Sticky Notes.
Read it, re-read it several times and really use How to Master the Art of Selling Financial Services to build, enhance and sustain your career in this exciting field.
Take what you learn here to achieve the goals that are most dear to your heart by providing superior service to your clients through professional selling.
“The empires of the future are the empires of the mind.”~ Winston Churchill
CHAPTER 1
Mentally Preparing for Sales Success
Congratulations! You have chosen a career in one of the best fields of all times. I mean that. Money really does make the world go around. Those who are wisest with their money have opportunities to enjoy more of what our world offers, including more fun, more security, and more wonderful opportunities. And you have chosen to become well-educated on financial products to earn a very nice income for yourself while serving the needs of others. By picking up this book, you have come to the right place to begin. I’ve always been known as a foundational teacher so we’re starting at the ground floor.
Speaking of ground floors, we’ll use a building analogy throughout this book. None of today’s great architects would begin a structure without a complete set of blueprints. Follow their example. Do not attempt to build your business without developing your own personal set of plans to arrive at the final completed structure of your dreams.
Take Advantage of the Advantages
Before we get into creating your career blueprint, let’s consider some of the greatest advantages of this exciting, challenging and most rewarding field. Why is this industry the best place for you?
Advantage #1 – Nearly everyone is a potential client. Unless you plan to specialize, such as working only with the affluent who have $10 million or more in net worth or some other niche, your pool of potential clients expands to nearly every adult on the planet. Think about it. Who doesn’t need knowledge and sound advice on keeping and growing their money? It doesn’t matter if their discretionary funds are only $50 or as much as $50,000 a month, everyone has a need for what you offer. Millions of people are seeking to earn, save, invest, and increase their fortunes. They need life insurance, debt consolidation services, long term care, annuities, 401K plans, full blown investment programs and other financial services. Most will have a continuing need for those services and so will their families as the children grow and are told, “Just call Bob/Sally. He/She has taken good care of us for a long time. You’ll do well with them, too.” Your legacy will grow with continual referrals from satisfied clients.
Advantage #2 – You, and only you, determine your income level. You get to choose how hard you work, how long you work and how many clients you want to work with. You also choose how well you’ll develop your skills.
Some of the best advice I ever got about selling as a career is this: Selling is the highest paid hard work and the lowest paid easy work there is. That’s it in a nutshell. If you’re willing to work hard, the reward is huge. My job in this book is to help you learn how to increase your income and your sense of accomplishment by working smarter as well.
Sure, you can double your income by working twice the hours and with twice as many clients. The real fun begins when you develop your skills to a point where you’re working half the time and still making the same income. Or, if you choose, you’re working the same amount of time for double the income! No one limits your income potential in this field but you.
NOTE: It doesn’t matter how well or not-so-well you’ve done so far in your financial services career. You are to be commended for investing in your financial future by owning this book, by investing your time to read it, and by applying its tactics and strategies to create a better life by better serving your clients. You are already demonstrating your desire to go beyond average to achieve “champion” status.
Advantage #3 – You’ll experience real joy and satisfaction in helping others throughout your career. Who doesn’t want that as a reward for their daily toil? If you’re in this business for the right reasons—to serve the needs of others—it’ll warm your heart every day that you help a family or an individual take one more step toward doing the right thing with their money because you educate them. You help them make wise decisions to protect their families and their assets, to start investing for growth and planning for the future. You’re making a powerful, positive difference in people’s lives. What a bonus!
I’m constantly amazed at the shockingly high percentage of our population that hasn’t the foggiest idea of capital, how it works, and how it can be used to better one’s life. This is where you come in. You are an integral component of our free enterprise system. Your knowledge, wisdom and experience with financial matters puts you in a position to help fuel the dreams and ambitions of individuals, families, companies and organizations—it’s how you make things happen.
Advantage #4 – You are in charge of your time. Of course, most financial planners work specific hours but you have the freedom to choose those hours and the flexibility to include important non-work activities in your schedule. There are few things worse than achieving business or financial success while losing touch with the loved ones who make the rewards worthwhile.
Most folks in the financial services industry are entrepreneurs, or independent contractors who work on their own, but not alone. They align themselves with large companies or groups whose products they offer. Those companies have your back. They provide education, service and support for what you do, but they don’t dictate your hours. You inhabit the very best of both worlds.
Advantage #5 – You can live and work practically anywhere on the planet. It’s wise to build your business and your reputation in the community
