Guidance for New Life Agents

Discussion in 'Getting Started Selling Insurance' started by DHK, Apr 3, 2011.

  1. DHK
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    DHK Well-Known Member

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    Just wow!



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    I just finished reading three books by Claude Whitacre. Claude is the one who made the Ben Feldman recordings public that I posted earlier in this thread. Anyway, he wrote 3 OUTSTANDING books that, in my opinion, if you want to excel, you need to buy, read, and apply.

    Claude just happens to think and write the way I tend to think and write. Now, he did sell life insurance for a while, but he's been selling vacuum cleaners for a long time. Claude says he uses about 71 different selling techniques, and only ONE came from his industry. Almost everything else he does, came from other industries. (Like me, he has also studied network marketing sales strategies and applied what he can to what he does.)

    Here's his review of The Feldman Method book by Ben Feldman:


    Here's his review of Frank Bettger's book on "How I Raised Myself From Failure To Success in Selling":


    Current pricing is $2.99 for each Kindle book... or thousands of dollars NOT to read them.

    https://www.amazon.com/Selling-Essentials-Your-First-Days-ebook/dp/B01MCSYGNL/ref=cm_cr-mr-title

    My review:
    This is a FANTASTIC framework for training new salespeople. I certainly wish I had a manager that would've had such an organized way to train when I first went into full-time, field-based, commission sales. I would've avoided a lot of pain, similar to what Claude outlined in the beginning as to why he wrote this book in the first place.

    It often seems that most companies hire by this maxim: "Hire 'em in masses, teach 'em in classes, sell all their family and friends, and fire their ***es." The reason is because there is far more demand for a "position" than there is talent and skill to teach these new people. It's also a sad thing that I've found that many sales managers are sales managers because they BARELY made their own quotas themselves, or their personal experience is 25 years ago.

    I also want to suggest an idea to the reader: If you're looking for a job, and you're considering commissioned based sales, use this book to help you craft a LOT of questions to ask in the interview process as to what you know you're going to need to be successful. Then rate their answers on how specific these recruiters/sales managers are for each point. Remember that YOU have far more risk for the success of your new career than the company does. It's unfortunate, but because YOU have more risk for the position than they do, YOU need to ask more questions of THEM, than they have to ask of you. And no, it won't work against you. They'll see that you have a great deal of potential by asking such pointed questions... they'll WANT you.


    https://www.amazon.com/Sales-Prospe...spects-ebook/dp/B00ICR4V1C/ref=cm_cr-mr-title

    My review:
    I've been in sales for a long time. I admit, I did not learn much in this book. However, this book has some of the BEST LESSONS in it that I had learned and concluded from being in my "School of Hard Knocks". Part of me wants to give it less than 5 stars for practically GIVING these lessons away so inexpensively that I've paid for myself in lost sales opportunities and paid training courses (that literally cost THOUSANDS).

    In short, for me, this book just reaffirms the way I think about a professional's selling process. Sometimes I wonder if I'm on the right track with the way I think. Yes, I get decent results, but having this book as an 'affirmation' of sorts is valuable in and of itself.


    https://www.amazon.com/One-Call-Closing-Ultimate-Guide/dp/1484907779/ref=cm_cr-mr-title

    My review:
    I've read several dozens, if not hundreds of books on sales. You could probably eliminate 75% or more of them just by buying, reading, and applying what is in this book.

    Here is the basic theme of this book: Be honest, be direct, and be sincere... with a little showmanship. Selling has ALWAYS been about the experience you deliver for the prospective customer. Make the entire experience one that is enjoyable for you and them, and profitable... which you will leverage into referrals. This book will help show you how. My career will forever be changed because I bought and read this book. I've got some work to do now.


    If you can't afford the $10 for these 3 books, you should go find something else to do.
     
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  2. DHK
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    DHK Well-Known Member

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    Just stumbled onto this video on YouTube. Michael Kitces primarily writes his blog and his materials for the financial advisor/RIA market. However, if you're offering comprehensive life insurance planning and retirement planning with annuities (as taught by the Insurance Pro Shop that I highly recommend or any other selling system/method), this is a FANTASTIC way to craft your professional introduction and bullet points of what you do and who you do it for.

    This is my preferred method of prospecting/introducing myself, but I have customized my talking points relevant to my products and what they do for the people I work with.

     
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  3. Rick Deckard
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    Rick Deckard Well-Known Member

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    "Chewie, we're home"

    I can't wait to cozy up to an adult beverage and sip on this for a while.
     
  4. DHK
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    DHK Well-Known Member

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    Choosing a Market Niche:

    Okay, we get this question a LOT on this forum - people who are looking for a job, people looking at companies, IMOs, etc., and just looking for a way to sell insurance.

    However, we know that before one can give a company or IMO recommendation, we need to know what MARKET the agent wants to be in. Most newly licensed agents don't necessarily know HOW to think about their "ideal market" or the kinds of products they want to sell. They simply want mentoring and guidance to earn a 6-figure income.

    Well, a while ago, I came up with a "model" of the various kinds of insurance markets, based on the classic Monopoly game.

    This morning, I finally recorded a presentation on it:



    Here's the "Cliff's Notes":
     
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  5. DHK
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    DHK Well-Known Member

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    Just found this on YouTube. It's Ben Feldman and a CLIENT on stage at MDRT discussing "The Anatomy of a Sale". If you listened to the other recording from 1978, I'm reasonably sure this is the client he has insured for $50 million of whole life insurance... and you can hear from HIM why he bought when Ben Feldman presents.




    And I uploaded this one myself. This was the free mp3 from the old 'John Savage System' website. I turned the mp3 into a video and uploaded it. And it really is "The Best of John Savage".

     
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  6. DHK
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    DHK Well-Known Member

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    I just found THIS video of Marvin Feldman (son of Ben Feldman) and right now, I'm about 20 minutes into it.

    Here's the weird thing: Notice how many EMPTY CHAIRS there are! I'm surprised that his session isn't packed! If I was there, I'd be in the front row taking notes.

     
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  7. blmarsh1
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    blmarsh1 New Member

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    Thanks for sharing!
     
  8. DHK
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    DHK Well-Known Member

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    Whose Job Is it?

    The image below is copied from one of the mentors at the Insurance Pro Shop, and I agree with it, and disagree with it. The second paragraph says this:

    "Contrary to what you may believe, the vast majority of insurance companies, IMOs, agencies and brokerage firms are not going to spend a lot of their time and money training and coaching you on marketing and sales! Their main focus is on recruiting agents and product training. It's not their job to make you a super star salesperson. Their job is to provide you with the best products and each you how they work."

    Based on most company's recruiting practices, it SHOULD be the company's responsibility. They say "We'll train you"... but it's simply incomplete training. And there's no "holding companies accountable" for not delivering on recruiting promises for 'top tier training'.

    How do these companies rationalize these practices? Well, this is a video from an OLD friend of mine (I've lost touch with him about 20 years ago) and he's "big" in network marketing, and in this 3 minute video, he explains how GUILT almost knocked him out of network marketing.



    That's how they rationalize all this: "Our job is to give them the opportunity and it's their job to see what they can do with it. If YOU can't do it, it's not our fault. We'll just find another person." And with the low barrier of entry, and a "project 200" method of marketing, it's no wonder that recruiting can be "churn and burn" in and of itself - even if everything else is on the 'up and up'.

    Of course, you have two options: You can quit... or you can keep going 'until'. That's the ant philosophy that Jim Rohn talks about. Ants keep going... how long? Until they find it, or until they die.



    John Savage says the secret to this business is to last. And of course, ongoing personal development and learning. It's up to YOU. That's the REALITY of this business. It's up to YOU to go searching for the answers that work for you and how you plan to work and build your career.
     

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