Prospecting/ My 20 Point Day System

[STIBROKER]

Unless I'm reading this wrong, you can get in for 2006 with $151,000 in premiums? If I could teach my cat to talk he'd write more than that. Pretty low standards to be in that club.

dahamm....you mean I could have qualified for that all these years......I could be rubbn' elbows with curly joe......

 

[MIBizInsurance]

First, I think the point system may be good for a noob or first time work at home person. Have seen many folks fail due to working at home and not actualing "working"
System like that may help keep people focused. Taking care of my family is all the focus I need.


The MDRT is a bit fuzzy. Is that commision after expenses?

When I interviewed at NYL I spoke to a salesperson and he stated he made ruffly $100k but he spent over 40k in expenses.

 

[James]

John,

Maybe within your niche it's true that if they don't roll over immediately you are done and should just get out, but that is flat wrong in my market. Every prospect we see is about as well qualified as you are going to get and we assume they are in the buying mode. I could send just about anybody into those houses and they would sell about 25% just by sticking to a canned script and quoting a price. To get another 25% you have to know how to get the people to tell you what they want to buy. It's not a matter of coming at them from another angle or the stupid "get three no's before you give up" thing, it's a matter of figuring out what it is they DO want to buy. In my market, if you do that, you can get to 50% closing ratio fairly easily.

I definitely have points where I know I'm wasting my time and I'm better off to get out and move on to the next appointment, but it certainly isn't immediately upon them saying the first quote doesn't work for them.

Very true. My statement applies to health insurance. I'm not gonna stand toe to toe with any potential client who says he either doesn't need health insurance or doesn't need it now. I'm out the door in 2 seconds flat.

Saying that, I'm never in front of anyone unless it's a sale. I see people only to help them with their choices, but it's very well established over the phone that I'm coming out to fill out an application. Their time is valuable and so is mine. You think I'm going over plans for an hour at 7pm only to hear "this sound good....you have a card?" Bullcrap on that. I could be home with my family watching CSI.

My line to every client on the phone is this:

"I'll go with whatever method you prefer. I can either take your application over the phone or we can meet. Which would you rather do?"

An overwhelming majority want to do it over the phone. Rarely will someone will say "I'd rather meet with you." People would rather roll around in broken glass then have an insurance agent in their home.

Maybe they rather roll over glass then have you in thier home or business? I can't believe some here are attempting to minimize the likes of Burt Meisel? I suppose Savage and the likes of Feldmen will be next?

Guys, you really have to get over yourselves! Narcissism seems to be running deep here lately.

 

[Atlas]

MDRT Qualifying Membership Commission 75,700

Court of the Table Commission 227,100

Top of the Table Commission 454,200

Burt has been TOT for like 35 years or something like that. maybe your cat could do that also.

Man those guy in that photo look rough. :shock:

I have made it yet never joined. Now maybe I know why

 

[Atlas]

James

" Maybe they rather roll over glass then have you in thier home or business? I can't believe some here are attempting to minimize the likes of Burt Meisel? I suppose Savage and the likes of Feldmen will be next? "

I agree with you 100%

Maybe the guys here are better than all three. They seem to think so any way.

 

[somarco]

The $151k, if that is a current figure, is a weighted AP figure. Permanent plans are weighted 100%, UL and other flex premium plans are based on target premium, term is weighted at 20%, and annuities at 3%. My percentages may be off a bit but you get the idea.

MDRT is indeed challenging to obtain unless you are fully committed to the life business. A very small percentage of life agents will attain those goals.

That being said, I have never heard of this guy either. My focus is not life insurance, but I do subcribe to some industry publications and his name has never been mentioned (to my knowledge) in any of the publications.

Some of the "greats" in the industry include Mehdi Fakharzadeh, Al Granum, Marshall Wolper, Joe Gandolfo, Tom Wolfe and of course Ben Feldman.

If you don't know who any of these guys are, then you really haven't been around the industry long enough to really appreciate what these guys did long before laptops.

 

[James]

Well guys Burt is a life member of MDRT and has used this forever and still uses it.

I made MDRT using it buy June of this year. With the 5 ways you are selling buy sells, biz count., DI buy sells, ect. There are only 5 way you can go out of biz, this takes care of all of them. The bottom line is you may can say it will not work, yet it seems that it has worked for thousands and thousands of agents for 50 years. That is very easy to say it will not work you have never tried it. To put down something you have never tried may not be the best idea, when it has worked for so many others

It may be an old idea, however Burt is the most famous agent in the USA today and has been famous for about 45 years. The 5 ways made him famous, and it is keeping him famous He still writes for life insurance selling mag. he is still their number one speaker. He makes more in speaker fees than 20 of us put together make selling insurance. He may have made more that all of us on this web site put together selling insurance last year. The bottom line is he is just like John Savage and the circle talk, it worked 50 years ago and it works today. If you do not want to use 5 ways by all means do not use it. Yet do not tell people that it will not work when it works better than any face to face script in life insurance selling history.

What you're confusing is his methods and simply working hard. Burt is obviously an extremely hard worker and what we're trying to get across is there's other pitches while going B to B that are just as effective, if not more effective.

Burt simply found a method that fit his personality and his style of selling and hit the street. What needs to be discussed is you won't be successful unless you find a pitch that fits YOUR personality - not Burts.

Agents die in this business because they don't work hard. I can guarantee you and even would be willing to bet you that if any agent went B to B for a few hours a day, believed in what they were selling and was confident you can almost say anything and get a lot of clients.

The reason I'm against "systems" is supposedly it's a "one size fits all" approach to selling. Basically the concept is "say this word for word and you'll be as successful as me." That's misleading. If I used that pitch I'd feel uncomfortable and that would come across to the owner. I'd tank. Then I'd wonder what I was doing wrong.

I can guarantee that anyone could do as well as Burt if they worked just as hard as him and used a simple: "I'm ________ and I'd like to introduce myself as a local independent agent...." pitch.

I'm not going to say hardwork is wrong, but you have to understand that hardwork itself isn't the foundation of success. One thing that made Meisel and others such as Feldmen Icons of the Insurance World is the fact that everyone likes them! In other words people they had as clients like them and were thrilled to have them in their homes or businesses. Obviously reading the statements by you that people hate insurance people is quite telling in many ways about you. You have simply brought into a suburban myth.

Plus the "5 Way", is not a "System", its simply a opening line. Yet though I'm sure you understand that but you seem to have canned lines yourself such as: "The reason I'm against "systems" is supposedly it's a "one size fits all" approach to selling." The 5 Way or the idea of the "Link in a Chain" are not systems, they would be best understood as concepts, the concept of the 5 Way is simple, most succesful business owners have had failures! They understand the failure has to be planned for as well as success.

 

[James]

Some of the "greats" in the industry include Mehdi Fakharzadeh, Al Granum, Marshall Wolper, Joe Gandolfo, Tom Wolfe and of course Ben Feldman.

If you don't know who any of these guys are, then you really haven't been around the industry long enough to really appreciate what these guys did long before laptops.

Don't forget Savage, but Meisel ranks up there with these people in every aspect. I like Savage books the best though! Go get a copy here of a good Savage book, http://www.mdrtpowercenter.org/product.asp?dept_id=138&pf_id=B59905

 

[James]

James

" Maybe they rather roll over glass then have you in thier home or business? I can't believe some here are attempting to minimize the likes of Burt Meisel? I suppose Savage and the likes of Feldmen will be next? "

I agree with you 100%

Maybe the guys here are better than all three. They seem to think so any way.

There is a few here attempting to use these public forums as a stage to make themselves famous if not in their own minds! I've no doubt some here think their posting here is better then the books written by these men mention in this thread!

 

[flatfive]

gone....because I am p u s s y AND EVERYONE MADE ME MAD.......AND I REALLY WAS NAA ALL ALONG....