Your Philosophy...

[DHK]

I got a copy of that book over 10 years ago. I'm pretty sure it sold me on asking questions, but I was clueless on which questions and what order. I was trying to figure things out from scratch, and the book didn't necessarily help me at the time.

The Insurance Pro Shop teaches how to do this exceptionally well.

In addition, I'll throw out a 'shout-out' to Van Mueller's site. He has various training CDs and DVDs of "Questions, questions, questions." www.vanmueller.com

 

[DHK]

I was working for a bank when I first started in sales. They taught the "educational" approach and that has stuck with me ever since. Their thinking was, if you educate someone on X then they will start thinking about Y and Z....and be more likely to come back to the bank. Sadly I saw that method go out the door and more emphasis was placed on "just getting them into a product, any product."

I was trained as a banker at Wells Fargo back in 2001. Their "fact-finding" training was stupid and over-done like a bad acting job. After asking people about "MBG" (Managing, Borrowing, and Growing money), you're supposed to lean back, study your notes, and come up with a "custom solution". Sorry, but there simply isn't as much time for that when you're in a busy bank branch and/or there are bank operational tasks that have to be done too.


If you're on a bank platform for opening accounts, you didn't know how to leverage slow computers and networks into conversation time, or know how to ask very key questions that generated referral opportunities.

A key question could be "Do you have a 401(k) at a previous employer?" (That was always a good one to ask - especially if they are a new customer and moving to the area.)

 

[somarco]

I bought this book a year ago after seeing you recommend it. Now I need to read it

Slow reader . . .

 

[goillini52]

Slow reader . . .

And a problem with reading comprehension.

 

[Life Hawk]

Selling something means, another person need this and you can understand their requirement. Selling means to understand the customer needs and their future planning.

I would go a little further... understanding what they want... people more often purchase because a want... or how they feel... which is often more powerful than what they feel they need.

 

[Life Hawk]

I was trained as a banker at Wells Fargo back in 2001. Their "fact-finding" training was stupid and over-done like a bad acting job. After asking people about "MBG" (Managing, Borrowing, and Growing money), you're supposed to lean back, study your notes, and come up with a "custom solution". Sorry, but there simply isn't as much time for that when you're in a busy bank branch and/or there are bank operational tasks that have to be done too.


If you're on a bank platform for opening accounts, you didn't know how to leverage slow computers and networks into conversation time, or know how to ask very key questions that generated referral opportunities.

A key question could be "Do you have a 401(k) at a previous employer?" (That was always a good one to ask - especially if they are a new customer and moving to the area.)

How many times have I seen folks take their 401(k) and roll it right out before 59 1/2... Uncle Sam loves this..

 

[DHK]

Nothing wrong with that... but it could be questionable for people who are at least 55 and separated from service as distributions would be exempt from the 10% IRS penalty.

 

[Life Hawk]

I've seen some really poor decisions in this area... then there are those who lump sum at retirement because HR does a poor job of helping them understand the importance of tax shelters.