may already be strong in some of these areas. Most people who get involved in a career in financial services enjoy meeting new people and getting to know them. They may also be good at explaining new ideas and concepts to others. Those skills are essential to giving effective presentations. The goal of the following pages is to help you understand that there is a step-by-step process to effective selling and to teach you where your existing skills fit in. For those areas in which you may not be as skilled, we’ll cover very specific, how-to strategies for taking those steps in the most productive manner.
Before we begin with our selling steps, let me give you one bit of advice. If you truly want to improve where you are right now, it will take some dedicated effort on your part. You will need to commit to read this entire book not once, but several times. In fact, most of our students have found it most beneficial to read our books a minimum of six times to gain solid retention of the training. Don’t panic! I’m not telling you to read it six times through over and over, though that’s not a bad idea.
Rather than overwhelm you with directions of how to proceed, make a commitment to live by the following twelve words that have made all the difference in my career and the careers of millions of my students.
I must do the most productive thing possible at every given moment.
That’s it. Simple, isn’t it? In fact, you could probably memorize that sentence right now if you just repeat it to yourself six times. That little sentence is something I have lived by for many years. I’ve encouraged others, like you, to do the same and it’s amazing what happens. If you ever find yourself stuck on a plateau in your career, stop doing whatever it is you’re doing. Take a moment to consider if what you’re doing is the most productive thing possible. If it’s not, make a new plan and move on with energy, enthusiasm and confidence.
It’s probably not productive to work on analysis of your client’s financial information during times when you could or should be talking with clients directly. Plan your time to do those things when it’s most productive.
Many people have a fear of planning their time. They think if they plan it all out and something changes the schedule their world will come crashing down. It doesn’t if you plan correctly. Plan for client time, analysis time, study time, time to reflect on what you’re doing right, time to consider where and how to improve, time to rest, time to take care of your personal needs, and quality time to invest with your loved ones. (Please note, your loved ones shouldn’t be last on your list of how to be productive with your time. If you do put them last, you may find yourself financially successful but with no one there to share the rewards.)
Those twelve words above can be the most profound source of direction for you in wise time management. Obviously, since you’re still reading, you must consider this time most productively used for learning new ideas for selling more effectively. Let’s get on with it!
“Service to a just cause rewards the worker with more real happiness and satisfaction than any other venture of life.”~ Carrie Chapman Catt
CHAPTER 2
Prospecting—Finding the People to Sell
Prospecting is the art of finding the right client for your products and services. It’s a two-step process:
Finding the people to sell.
Selling the people you find.
Here, There and Everywhere
If you want to find potential clients, just follow the lead provided by a song from The Beatles, “Here, There and Everywhere.” That’s precisely where they are. That fact presents more of a challenge than an opportunity if you’re cold calling. Of course, in selling financial s e r vices, looking here, there and every w h e r e will have you bouncing left and right, up and down, and back and forth like the metal ball in a pinball machine. Warm prospecting is a wiser course when marketing investments, insurance, financial plans, peace of mind, and the joy of anticipating favorable returns.
Friends and Family. Start by contacting your friends and family. These folks know, like and trust you. If they don’t, you might consider a line of work where you can survive as a loner. Hopefully, they’ll be excited that someone in the family is picking up some expertise they don’t have themselves, but can benefit from. They should want to pick your brain and use your services.
As a bonus, they will have their own network of friends, acquaintances and co-workers. Some will surely be in need of your financial skills and the products and services you offer, if not now probably in the future.
Here’s an example of how warm prospecting can work.
You have friends who are in all sorts of professions, but do you consider them sources of business leads? I’ll bet it never crossed your mind. In fact few people who market a product or service realize the wealth of warm prospecting opportunities they already have or encounter on a regular basis.
Extend your prospecting antennae. Everyone you know knows other people—lots of them. Never again leave a meeting, whether you’re giving or receiving service, without considering who this person might know that needs your services.
Acquaintances. Speak to those who are just acquaintances, as well. You cross paths with a lot of people every day. Some will need your product and some will know of others who can benefit from your service. I bet you haven’t a clue as to how many people you meet (or could potentially meet) every day. Mentally walk back through today or yesterday and trace your footsteps. Did you stop at the coffee shop? Did you drop off a prescription for a refill? Did you eat lunch somewhere besides your home or your desk? Did you pick up your kids at soccer practice? Or, drop them off? How about on the way home from work? Did you run an errand? Could you have?
Every one of those situations brings you into close encounters with other people traveling in similar paths. Stop running on autopilot, reach out and meet them.
Prepare a 30-second “commercial” about you, your product and your service ready so you can use it at a moment’s notice when you make a new acquaintance. And then be sure to use it.
“Hi, I’m Hank Martin. I help people achieve their share of the American Dream by providing professional analysis of investment opportunities so you can be certain your money is doing exactly what you want and need it to do for you. I guess you could say I show families and individuals ways to save and make money, thus, eliminating debt and building toward financial independence.”
Suppliers . Other busine sses offer great oppor tunities for prospecting. Work hard to impress every business you hire or purchase from. Word of mouth is one of the most powerful forms of advertising. When respected business people recommend you, other people listen.
Itch Cycle. Take advantage of what I call the itch cycle. Every product or service has a limited lifetime. Bonds mature. Term insurance comes to an end. A five-year financial plan doesn’t automatically roll over into year six. Contact clients before the product “winds down” so you can be there to pick up the business when they need to renew. Or, guide them to another product that’s right for the next phase of their lives.
For example, if you notice that the bond market is easing into a decline, it’s a good idea to contact the individuals
