Sales Idea 3 - A Classic MDRT sales Idea- Nov 08

A Classic MDRT Sales Idea

This MDRT sales idea has been working for years.

Draw the following line and divide it as you see into 10, 20, 30,40,50,60 and 70.

You can explain that, according to the Bible, “three score year and 10” is considered a good life, and that equates to 70. Everything else is a bonus. If we take each decade and relate it to a day in the week …
So if you can explain….

· 0-10 was Monday and you were a child
· 10-20 was Tuesday and you were in full time education
· 20-30 was Wednesday and you started to work…
· Are you planning to work Thursday?
· Are you planning to work Friday?
· Are you planning to work Saturday?

- Having established the age of your client, you amend your questions.
- Having established their age and marking it on the line and establishing when they want to retire and marking that, then work out how many months there are between the two ages.

Then you say:” If you save just $100 per month, then…”

Now take the number of months you calculated and add two zeroes.
You will show them how much they will have to save and established with them if that would be enough to retire on. . It usually isn’t.

Foe example, Sally is 35 years old and has never saved, so she is already halfway through Thursday and says she wants to retire at 55 years of age in 20 years’ time.
She has 240 months to go. If she saves just $100 per month, that is $24,000. Is that enough to retire on?

What income does she need? Let her stat the amount ……..
(You can work with her amount other wise you can suggest any amount)

Take for example $ 20,000 a year, and for the next 20years she will need about $400,000
Divide $ 400,000 240 months is $1,666 per month.
Of course we hope to get some growth (But miracles can’t work it)
She needs to start saving now, and $ 00 won’t be enough. Would it?
.
What can she afford to put aside?

And we can review it for Sally again on her next pay raise
If she doesn’t have enough, it may just mean that she will have to work a little longer

Happy selling

Richaard Wong
MDRT Regional Coordinator, CTI