MDRT sales idea 25 - Walk About
From time to time, when you find you’re are hitting a wall and getting nowhere in your sales results and spending too much time in the office, schedule a walk about.
Perform a walk about, lined up several business clients in proximate geographic areas. Most importantly don’t carry your brief case or an application. Simply go from client to client and greet them with” How are you?”
The response has been amazing. Most often, they ask what you have for them today, simply respond:” I just came by to say hello and to see how you were doing”
The most unusual response came from a client who said “Well what about accidental coverage or disability insurance, do you do them?”
These walk about have enabled you to meet your client on their turf without any expectation in the most relaxed manner. I am sure this will build relationships and solidify your position with your clients and their business partners.
Schedules walk about and do it. It will change the way your clients relate to you.
Thursday, May 14, 2009
Thursday, May 7, 2009
6 ways to achieve Sales Success
6 ways to achieve Sales Success
Here are 6 ways to stay on track and achieve sales goals
1. Use a journal or dream book
Write down what you want to accomplish in your business and personal life. Refer to it weekly and continue adding to it. List everything, however big or small, that you want to achieve. Over the years, you will be surprised how many items on that list has been checked off
2. Read a wide range of material
Read not only books and articles that pertain to our industry, but make time to read books and magazines in other areas. Include books and periodicals that are new and different from your usual reading routine
3. Use your commute wisely
Your MP3 is your personal university. Listen to learning CD, inspirational materials that help you stay motivated. Down load MDRT talks, you’re training classes that you have recorded. Make it a habit to record all the seminar and training that you attend and listen to it again to catch something that you might have missed
4. Connect with others
Connect with fellow MDRT members or your elite clubs friends, get close to them and you will be motivated and pick up good habits and sales activity. Join local toast master clubs or business man meetings. Be active in your local community. Volunteer to help in any way you can, in service the local community
5. Get assistance from Mentor or coach
Seek out a mentor or coach; Join the mentoring program that your agency is organizing.
These mentors can challenge your comfort zone and stretch you to do better in your business and personal life. These are high flyers and achievers with big dreams and you can get really motivated to act like them
6. Start or join a study group
By joining other serious minded advisors, you formalize your desire to grow and be inspired to lead others.
This will bring the best out of you especially so when you make public commitment and do everything to achieve it.
You can seek out other MDRT members to develop a small study group. There’s nothing like being a member of a group of highly skilled and motivated individuals who share the same levels of passion about the selling profession
Here are 6 ways to stay on track and achieve sales goals
1. Use a journal or dream book
Write down what you want to accomplish in your business and personal life. Refer to it weekly and continue adding to it. List everything, however big or small, that you want to achieve. Over the years, you will be surprised how many items on that list has been checked off
2. Read a wide range of material
Read not only books and articles that pertain to our industry, but make time to read books and magazines in other areas. Include books and periodicals that are new and different from your usual reading routine
3. Use your commute wisely
Your MP3 is your personal university. Listen to learning CD, inspirational materials that help you stay motivated. Down load MDRT talks, you’re training classes that you have recorded. Make it a habit to record all the seminar and training that you attend and listen to it again to catch something that you might have missed
4. Connect with others
Connect with fellow MDRT members or your elite clubs friends, get close to them and you will be motivated and pick up good habits and sales activity. Join local toast master clubs or business man meetings. Be active in your local community. Volunteer to help in any way you can, in service the local community
5. Get assistance from Mentor or coach
Seek out a mentor or coach; Join the mentoring program that your agency is organizing.
These mentors can challenge your comfort zone and stretch you to do better in your business and personal life. These are high flyers and achievers with big dreams and you can get really motivated to act like them
6. Start or join a study group
By joining other serious minded advisors, you formalize your desire to grow and be inspired to lead others.
This will bring the best out of you especially so when you make public commitment and do everything to achieve it.
You can seek out other MDRT members to develop a small study group. There’s nothing like being a member of a group of highly skilled and motivated individuals who share the same levels of passion about the selling profession
Standby Credit
Standby Credit
When discussing the need for insurance to underpin the guarantees for a buy- sell agreement , one of the most common objectives thrown back by the business owner( or the owner’s advisors) is that the survivors” can simply borrow the money needed to close the purchase”
The following idea is so effective in countering this objection and steer the discussion and elicit a positive response
1. Most will agree with the statement that the loss of a key person (and shareholder) of a company will have a negative, not positive, impact on the creditworthiness of the business. In fact, sometimes lenders will ask for a reduction in the debt outstanding as a sign of good faith by the business owners.
What might be prudent then is for the business- while on a stable financial footing and with all shareholders and key personnel in place- to negotiate a standby line of credit facility to be available should a triggering event occurs, as addressed by the buy- sell agreement.
2. A standby credit facility is a renegotiated access to a specified loan amount. The funds are available on demand by the business at any time (as covered by the agreement)
Because a lending institution must set aside from other lending the amount of the standby credit facility, they normally charge a nominal amount on an annual basis- usually 1 percent to 2 percent. It is also normal for the credit facility to be reviewed by the lending institution from time to time to make certain the quality of the credit is still adequate and acceptable. WHAT THEY DON’T DO IS REVIEW THE CREDITWORTHINESS AT THE TIME THE LOAN IS CALLED FOR
To establish this facility on behalf of clients and companies, you can offer a very unique product for their consideration
Just the bank, there will be a detailed review at the outset of the business and the owners, and the annual cost will be around 1.5 percent of the amount of the credit facility. But there are some differences, too and theses are all in favor of the business. The facility never has to be revised again once granted, and the annual charge is guaranteed never to change or to be renegotiated.
3.The advantages and uniqueness becomes apparent at the time the line of credit facility is drawn upon. First of all, some of the annual payments are refunded along with the credit advance. But the best part is that once the credit facility has been paid out, the arrangement is closed, and no repayment is required.
At this point, the owner and advisor are usually scratching their heads” what kind of loan is this anyhow?” comes the often asked questions
“This is how life insurance works” the partial refund of the annual fee is the cash option or paid up addition of a whole life policy
When discussing the need for insurance to underpin the guarantees for a buy- sell agreement , one of the most common objectives thrown back by the business owner( or the owner’s advisors) is that the survivors” can simply borrow the money needed to close the purchase”
The following idea is so effective in countering this objection and steer the discussion and elicit a positive response
1. Most will agree with the statement that the loss of a key person (and shareholder) of a company will have a negative, not positive, impact on the creditworthiness of the business. In fact, sometimes lenders will ask for a reduction in the debt outstanding as a sign of good faith by the business owners.
What might be prudent then is for the business- while on a stable financial footing and with all shareholders and key personnel in place- to negotiate a standby line of credit facility to be available should a triggering event occurs, as addressed by the buy- sell agreement.
2. A standby credit facility is a renegotiated access to a specified loan amount. The funds are available on demand by the business at any time (as covered by the agreement)
Because a lending institution must set aside from other lending the amount of the standby credit facility, they normally charge a nominal amount on an annual basis- usually 1 percent to 2 percent. It is also normal for the credit facility to be reviewed by the lending institution from time to time to make certain the quality of the credit is still adequate and acceptable. WHAT THEY DON’T DO IS REVIEW THE CREDITWORTHINESS AT THE TIME THE LOAN IS CALLED FOR
To establish this facility on behalf of clients and companies, you can offer a very unique product for their consideration
Just the bank, there will be a detailed review at the outset of the business and the owners, and the annual cost will be around 1.5 percent of the amount of the credit facility. But there are some differences, too and theses are all in favor of the business. The facility never has to be revised again once granted, and the annual charge is guaranteed never to change or to be renegotiated.
3.The advantages and uniqueness becomes apparent at the time the line of credit facility is drawn upon. First of all, some of the annual payments are refunded along with the credit advance. But the best part is that once the credit facility has been paid out, the arrangement is closed, and no repayment is required.
At this point, the owner and advisor are usually scratching their heads” what kind of loan is this anyhow?” comes the often asked questions
“This is how life insurance works” the partial refund of the annual fee is the cash option or paid up addition of a whole life policy
Sunday, April 26, 2009
Emotions: Know Them,Manage and Chose
Emotions: Know Them, Manage Them, Choose Them
Emotional Intelligence is recognizing, understanding and choosing how we think, feel, and act. Emotional Intelligence has five components:
1) Know Your Emotions
What upsets you, and how are you handling it? Think about your emotional triggers. Is it being in a traffic jam, or maybe your teenager rolling her eyes? When you figure out what your emotional triggers are, you can become proactive and use your Emotional Intelligence.
2) Manage Your Emotions
We speak to ourselves between 600-800 words per minute, and 75 percent of these words are usually negative. Unfortunately, your brain believes what you say. You need to replace those negative thoughts with positive thoughts; a positive mantra. What does your body do when you get emotional? Many times, when we get emotional, we stop talking, or we don’t realize what’s coming out of our mouths or we explode in anger! You need to be aware of how you react to certain emotions so you can be proactive.
3) Recognize Emotions in Others
Seven percent of your communication is verbal, our words. Thirty-eight percent is pitch and tone, the way we say things. Fifty-five percent is our body language. It’s often the way we say things that get us in trouble. Be aware of the emotions reflected in your pitch and tone, and be aware of other’s pitch and tone. Listen for how you say things to your employees, peers and family. We have to constantly be aware of what our body language could be saying and what others could be telling us. Our body language can redefine our message with a simple gesture. You might say nicely, “Can I help you?” But your body language might indicate, “I don’t care,” because your eyes have slightly rolled. You may have your arms crossed, which can mean, “I don’t care what you have to say” or “I am not going to agree to this change.” Hands on the hips can mean, “I’m right and you’re wrong” or “I am better than you.” Being aware of body language is the quickest way to gauge others’ emotions; just look at them.
4) Choosing Your Emotions
What is the number-one obstacle that is stopping you from choosing? You! You choose to be mad, you choose to be glad, and you choose to be sad. No one else can choose for you.
5) Handling Your Emotions In Relationships
People are not difficult, they are just different. We seem to get emotional over these differences, and we define people as difficult. The Myers Briggs Personality Indicator, the D-I-S-C profile and many others provide insight into others, as well as yourself. By understanding differences and emotional characteristics, you can get more of what you want from you relationship with others.
Candy Whirley is a professional speaker and leadership and team-building expert who has been addressing audiences for 20 years and consulting companies for eight years. She has co-authored several books, including Ordinary Women . . . Extraordinary Success and Magnetic Leadership. Her entire 2008 Annual Meeting presentation is available at www.mdrtpowercenter.org.
Emotional Intelligence is recognizing, understanding and choosing how we think, feel, and act. Emotional Intelligence has five components:
1) Know Your Emotions
What upsets you, and how are you handling it? Think about your emotional triggers. Is it being in a traffic jam, or maybe your teenager rolling her eyes? When you figure out what your emotional triggers are, you can become proactive and use your Emotional Intelligence.
2) Manage Your Emotions
We speak to ourselves between 600-800 words per minute, and 75 percent of these words are usually negative. Unfortunately, your brain believes what you say. You need to replace those negative thoughts with positive thoughts; a positive mantra. What does your body do when you get emotional? Many times, when we get emotional, we stop talking, or we don’t realize what’s coming out of our mouths or we explode in anger! You need to be aware of how you react to certain emotions so you can be proactive.
3) Recognize Emotions in Others
Seven percent of your communication is verbal, our words. Thirty-eight percent is pitch and tone, the way we say things. Fifty-five percent is our body language. It’s often the way we say things that get us in trouble. Be aware of the emotions reflected in your pitch and tone, and be aware of other’s pitch and tone. Listen for how you say things to your employees, peers and family. We have to constantly be aware of what our body language could be saying and what others could be telling us. Our body language can redefine our message with a simple gesture. You might say nicely, “Can I help you?” But your body language might indicate, “I don’t care,” because your eyes have slightly rolled. You may have your arms crossed, which can mean, “I don’t care what you have to say” or “I am not going to agree to this change.” Hands on the hips can mean, “I’m right and you’re wrong” or “I am better than you.” Being aware of body language is the quickest way to gauge others’ emotions; just look at them.
4) Choosing Your Emotions
What is the number-one obstacle that is stopping you from choosing? You! You choose to be mad, you choose to be glad, and you choose to be sad. No one else can choose for you.
5) Handling Your Emotions In Relationships
People are not difficult, they are just different. We seem to get emotional over these differences, and we define people as difficult. The Myers Briggs Personality Indicator, the D-I-S-C profile and many others provide insight into others, as well as yourself. By understanding differences and emotional characteristics, you can get more of what you want from you relationship with others.
Candy Whirley is a professional speaker and leadership and team-building expert who has been addressing audiences for 20 years and consulting companies for eight years. She has co-authored several books, including Ordinary Women . . . Extraordinary Success and Magnetic Leadership. Her entire 2008 Annual Meeting presentation is available at www.mdrtpowercenter.org.
Standby Credit
MDRT sales idea 23 Standby Credit
When discussing the need for insurance to underpin the guarantees for a buy- sell agreement , one of the most common objectives thrown back by the business owner( or the owner’s advisors) is that the survivors” can simply borrow the money needed to close the purchase”
The following idea is so effective in countering this objection and steer the discussion and elicit a positive response
1. Most will agree with the statement that the loss of a key person (and shareholder) of a company will have a negative, not positive, impact on the creditworthiness of the business. In fact, sometimes lenders will ask for a reduction in the debt outstanding as a sign of good faith by the business owners.
What might be prudent then is for the business- while on a stable financial footing and with all shareholders and key personnel in place- to negotiate a standby line of credit facility to be available should a triggering event occurs, as addressed by the buy- sell agreement.
2. A standby credit facility is a renegotiated access to a specified loan amount. The funds are available on demand by the business at any time (as covered by the agreement)
Because a lending institution must set aside from other lending the amount of the standby credit facility, they normally charge a nominal amount on an annual basis- usually 1 percent to 2 percent. It is also normal for the credit facility to be reviewed by the lending institution from time to time to make certain the quality of the credit is still adequate and acceptable. WHAT THEY DON’T DO IS REVIEW THE CREDITWORTHINESS AT THE TIME THE LOAN IS CALLED FOR
To establish this facility on behalf of clients and companies, you can offer a very unique product for their consideration
Just the bank, there will be a detailed review at the outset of the business and the owners, and the annual cost will be around 1.5 percent of the amount of the credit facility. But there are some differences, too and theses are all in favor of the business. The facility never has to be revised again once granted, and the annual charge is guaranteed never to change or to be renegotiated.
3.The advantages and uniqueness becomes apparent at the time the line of credit facility is drawn upon. First of all, some of the annual payments are refunded along with the credit advance. But the best part is that once the credit facility has been paid out, the arrangement is closed, and no repayment is required.
At this point, the owner and advisor are usually scratching their heads” what kind of loan is this anyhow?” comes the often asked questions
“This is how life insurance works” the partial refund of the annual fee is the cash option or paid up addition of a whole life policy
Sincere Appreciation,
Richaard Wong, Assistant Vice President
When discussing the need for insurance to underpin the guarantees for a buy- sell agreement , one of the most common objectives thrown back by the business owner( or the owner’s advisors) is that the survivors” can simply borrow the money needed to close the purchase”
The following idea is so effective in countering this objection and steer the discussion and elicit a positive response
1. Most will agree with the statement that the loss of a key person (and shareholder) of a company will have a negative, not positive, impact on the creditworthiness of the business. In fact, sometimes lenders will ask for a reduction in the debt outstanding as a sign of good faith by the business owners.
What might be prudent then is for the business- while on a stable financial footing and with all shareholders and key personnel in place- to negotiate a standby line of credit facility to be available should a triggering event occurs, as addressed by the buy- sell agreement.
2. A standby credit facility is a renegotiated access to a specified loan amount. The funds are available on demand by the business at any time (as covered by the agreement)
Because a lending institution must set aside from other lending the amount of the standby credit facility, they normally charge a nominal amount on an annual basis- usually 1 percent to 2 percent. It is also normal for the credit facility to be reviewed by the lending institution from time to time to make certain the quality of the credit is still adequate and acceptable. WHAT THEY DON’T DO IS REVIEW THE CREDITWORTHINESS AT THE TIME THE LOAN IS CALLED FOR
To establish this facility on behalf of clients and companies, you can offer a very unique product for their consideration
Just the bank, there will be a detailed review at the outset of the business and the owners, and the annual cost will be around 1.5 percent of the amount of the credit facility. But there are some differences, too and theses are all in favor of the business. The facility never has to be revised again once granted, and the annual charge is guaranteed never to change or to be renegotiated.
3.The advantages and uniqueness becomes apparent at the time the line of credit facility is drawn upon. First of all, some of the annual payments are refunded along with the credit advance. But the best part is that once the credit facility has been paid out, the arrangement is closed, and no repayment is required.
At this point, the owner and advisor are usually scratching their heads” what kind of loan is this anyhow?” comes the often asked questions
“This is how life insurance works” the partial refund of the annual fee is the cash option or paid up addition of a whole life policy
Sincere Appreciation,
Richaard Wong, Assistant Vice President
Your Marketing Tips
Your Marketing Tips
Simple yet effective, marketing initiatives can help your business
1. Customized business cards
Customize your business card can leave a lasting impression with potential clients.
By adding a photo and listing the services offered would be a great opener to prospective clients.
A recommendation by a 6 years MDRT from Jamaica,” I have a very affable, smiling photo that puts my best face forward placed on my card and on the inside, I carefully lay out all the services I offer. This is followed by all my qualifications. Lastly, the MDRT logo.
On the back, I use a photograph of a family sheltering under a large umbrella, which covers them from the pouring rain. This indicates the excellent coverage of my services offer”
2. Postcard
10 years MDRT, Caroline Kheng of Singapore uses postcards to let clients know she’s thinking of them.
Before leaving to attend the annual MDRT meeting, she sends a letter to her clients; explaining her attendance. While there she buys postcards and mails them from the annual meeting location. Her clients love receiving the postcards because they know upon her return; she will have greater knowledge to help them meet their financial goals.
3. Public speaking
An18 years MDRT member from Bahamas, love to speak in churches, associations, unions, and colleges “It is widely shard view that public speaking is one of man’s greatest fears”
He said” perhaps this is why giving speeches as a means of prospecting is such an underutilized technique”
Public speaking is a great way to market yourself because everyone in the audience sees you as the expert. With effective follow up, 25% to as many as 50% will become qualified prospects
4. Marketing tools and products
MDRT’s web site, www.mdrt.org, offers free marketing tools to help members promote their business and market their services to current and prospective clients. Find the following tools under Members section
- Marketing 101. Creating a Plan for your Business
- Power point presentation to explain the value of MDRT membership to clients
- Newspaper/ congratulatory ad
- Logos to use in promoting your membership
- Customized brochures, press releases, address labels
- Content for client newsletters
- Public relations tips and guidelines
- Client communication tips
Richaard Wong
Best Practices, Training & Development
Simple yet effective, marketing initiatives can help your business
1. Customized business cards
Customize your business card can leave a lasting impression with potential clients.
By adding a photo and listing the services offered would be a great opener to prospective clients.
A recommendation by a 6 years MDRT from Jamaica,” I have a very affable, smiling photo that puts my best face forward placed on my card and on the inside, I carefully lay out all the services I offer. This is followed by all my qualifications. Lastly, the MDRT logo.
On the back, I use a photograph of a family sheltering under a large umbrella, which covers them from the pouring rain. This indicates the excellent coverage of my services offer”
2. Postcard
10 years MDRT, Caroline Kheng of Singapore uses postcards to let clients know she’s thinking of them.
Before leaving to attend the annual MDRT meeting, she sends a letter to her clients; explaining her attendance. While there she buys postcards and mails them from the annual meeting location. Her clients love receiving the postcards because they know upon her return; she will have greater knowledge to help them meet their financial goals.
3. Public speaking
An18 years MDRT member from Bahamas, love to speak in churches, associations, unions, and colleges “It is widely shard view that public speaking is one of man’s greatest fears”
He said” perhaps this is why giving speeches as a means of prospecting is such an underutilized technique”
Public speaking is a great way to market yourself because everyone in the audience sees you as the expert. With effective follow up, 25% to as many as 50% will become qualified prospects
4. Marketing tools and products
MDRT’s web site, www.mdrt.org, offers free marketing tools to help members promote their business and market their services to current and prospective clients. Find the following tools under Members section
- Marketing 101. Creating a Plan for your Business
- Power point presentation to explain the value of MDRT membership to clients
- Newspaper/ congratulatory ad
- Logos to use in promoting your membership
- Customized brochures, press releases, address labels
- Content for client newsletters
- Public relations tips and guidelines
- Client communication tips
Richaard Wong
Best Practices, Training & Development
Set daily goals
MDRT sales idea 21 - Set daily goals
- Set daily sales goals
- Sales to complete
- Help with closing
What do you expect to achieve in a year?
- All the top producers have a daily budget for their personal value and set daily sales goals
- Many sales people are afraid to visualize the income they‘ll earn if they close the sale
- Set meaningful; personal goals
- People run for their own reasons, you’re no different
Keep a list of all potential income
-This sale to complete list is like a “work In progress” List. It shows you your current inventory and ensures you accurately address the income potential available to you
The add on sale - having sold, sell again
- Market research shows that people who have bought recently are very often happy to buy again immediate.
So identify your last 20 clients and see how to offer them more of the same
- Keep your own records track your own results personally, every week. don’t delegate it, don’t compute it, calculate it personally with a pen
- What you write you own, you’ll be truly aware of your shortfall if you track your own results
Detailed agenda
Have a detailed agenda of a personal goals and a definite chief aim in life, through your own personal goals gives you the drive the motivation.
Anything is possible; decide what it is you really want
Keep those goals clearly on hand so that you are driven by them daily, that way your daily sales goals will fuel your long term goals
Richaard Wong
Assistant Vice President
- Set daily sales goals
- Sales to complete
- Help with closing
What do you expect to achieve in a year?
- All the top producers have a daily budget for their personal value and set daily sales goals
- Many sales people are afraid to visualize the income they‘ll earn if they close the sale
- Set meaningful; personal goals
- People run for their own reasons, you’re no different
Keep a list of all potential income
-This sale to complete list is like a “work In progress” List. It shows you your current inventory and ensures you accurately address the income potential available to you
The add on sale - having sold, sell again
- Market research shows that people who have bought recently are very often happy to buy again immediate.
So identify your last 20 clients and see how to offer them more of the same
- Keep your own records track your own results personally, every week. don’t delegate it, don’t compute it, calculate it personally with a pen
- What you write you own, you’ll be truly aware of your shortfall if you track your own results
Detailed agenda
Have a detailed agenda of a personal goals and a definite chief aim in life, through your own personal goals gives you the drive the motivation.
Anything is possible; decide what it is you really want
Keep those goals clearly on hand so that you are driven by them daily, that way your daily sales goals will fuel your long term goals
Richaard Wong
Assistant Vice President
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