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The Truth, The Whole Truth,
And Nothing But The
Truth!

One of the biggest problems we have in the insurance and financial services industry is that many people are not telling the whole truth, they are exaggerating, misleading and flat out lying, just to make a sale.  And then they wonder why people don't trust agents, why we have so many compliance issues and why people are suing agents and companies?

Why Has Lying Become An Acceptable Way Of Selling?

Unfortunately, not telling the whole truth has become a perfectly acceptable way of doing business for some sales people.  For many organizations it's a case of the end result justifying the means!  Even many of today's leading marketing and sales trainers, in a very subtle manner, are encouraging us to use these less than ethical “techniques” to attract prospects, set appointments and close sales.

I don’t know about you, but when I was growing up, my parents taught me to always be truthful and that lying was a bad thing.

Everything we teach at the Insurance Pro Shop is about being open, transparent, and honest, and above all listening to and helping people to find real solutions to their problems, which is the basis of an honest business relationship.

(Note:  In case you're wondering.  Contrary to what some agents, advisors and planners may want to believe, all of the information, success stories, and endorsements, etc. about our systems and training is Not exaggerated or hyped.  It's all true.  The people who are earnestly studying our materials and following our recommendations, are actually doubling and tripling their incomes within 30 to 60 days.)    

Here is an article Bill Bachrach wrote a few years ago that will help you to be upfront and completely honest with your clients and prospects...

Can I Succeed Telling The Truth?
by Bill Bachrach

Why do so many financial advisors rationalize, justify, slightly exaggerate, sugar-coat it, or simply tell prospects/clients whatever they want to hear?  Too many believe that's what they have to do to succeed, or maybe even survive in this market.  I suppose this is similar to why some athletes think it's okay to take performance- enhancing drugs:  "I have to dope to remain competitive because everyone else is taking them."

One of my highly productive advisor clients was in a quandary recently.  He was so frustrated with this phenomenon that he was seriously considering leaving the business.  I asked what seemed like the obvious question:  "Why don't you just tell the absolute, bottom-line truth every single time instead of sugar-coating or being overly optimistic with your projections?"  His response was the absolute, bottom-line truth, "Because I don't know if I can succeed telling the truth."

Not only can you succeed by telling the truth, you can thrive telling the truth.  The reason is that you will attract clients with lots of money who can handle the truth, and prefer the truth.

Here are some examples of truths you ought to be telling if you want that kind of client in your business:

   *  "There are no guarantees.  The best we can do is to give you the highest probability of achieving your goals regardless of the circumstances.  If things get bad enough there's no telling how it might affect your finances: nuclear war between India and Pakistan, Arab countries unite and invade Israel, every major company turns out to have overstated their earnings, etc., etc., etc."

   *  "The bottom line is that no matter what might happen that's out of your control, the things that are within your control have to be executed in the most intelligent and prudent manner."

   *  "Bad things happening both inside and outside our borders do not give you license to procrastinate or make poor decisions."

   *  "The most we can project is 8 percent on your plan, provided you have at least 10 years before you have to touch the money."

   *  "No, I have no strategy to get you from where you are, to where you want to be in the time frame you have given me. To get there, you are going to have to save/invest more money.  You can cut back on your lifestyle spending.  You can get a second job.  You can get your butt in gear to become a better business person so your business generates more revenue and/or becomes more profitable.  Your spouse can go to work.  You can change your time frame.  You can lower your goals.  There are only so many options.  We will focus on those within your control."

   *  "I have no idea what the market is going to do."

   *  "I have no idea what is going to happen with interest rates."

   *  "All we can do is take the action that will give you the highest probability of achieving your goals, regardless of what happens in the market, the economy, or world events."

   *  "I don't think you are going to become disabled either, but the statistical probability is the same whether you believe you will or you believe you won't.  So, yes, you do have to buy the disability insurance."

   *  "No, I don't believe in investment gurus who can consistently beat the market.  I believe that successfully achieving your goals is the result of the action you take.  It's not about what some money manager does.  If you believe that your success is outside your control, then I really can't help you."

The question on the table is whether you really can succeed if you tell the truth.  Can you tell people the exact return they need to meet their goals, and also tell them if they have unreasonable expectations?  And then discuss a reasonable goal and a plan to really get there?  Can you succeed by telling the truth about your own business?  Can you admit that you can't predict the future, but that there are certain things every one of us can do to greatly enhance the chances of our success?

The answer is yes, absolutely you can.  It can actually give you a competitive advantage in a market glutted by advisors full of hot air.  Most advisors fear nobody wants to hear the truth, but of course they do!  And the ones who want to hear the truth will be your best and most lucrative clients.  Most successful people respond to bare-bald-buck-naked facts, because most successful people got that way by remaining grounded in reality.

Jack Welch, arguably the greatest CEO of our times, held the philosophy, "Tell me the truth, and tell me early."  If something happened and you knew and didn't tell him about it, you were fired.  But if you came to him early and told him, "You know what?  This whole project is screwed up, and I don't know what to do about it," you'd go a long way with Jack Welch.

People can go to any salesperson to hear hype and buy whatever's "in" this week.  But a business built on this kind of clientele is exhausting and expensive--you're always on that prospecting and marketing treadmill.  The best clients seek out a Trusted Advisor to keep them from doing what they would do if they didn't have an advisor, which for the most part is nothing or the wrong thing.  These clients deserve and demand the truth.

Don't be a salesperson; be a Trusted Advisor.

by Bill Bachrach
, Bachrach & Associates, Inc.  All Rights Reserved. Bill Bachrach is the author of Values-Based Financial Planning:  If you want to get into Fee Based Selling, he makes it easy for you.

Message to Financial Advisors...

What have you done in the last sixty days to increase your sales?  Is there any question that during the year, you're going to spend thousands of dollars in time, money and effort bringing in new clients to your business?  Then wouldn't it make sense to do it the most cost effective, money-making ways?  Why not learn the marketing, prospecting, appointment setting and sales strategies that most of the leading agents, advisors and planners on the planet use?  Jeremy and Lew Nason

 

P.S. If you are a current member of NAIFA, GAMA, MDRT, or the IARFC give us a call for your special discount. (If you're NOT a member… You should be!)

 

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"A while back I found the Insurance Pro Shop and signed up for their (FREE) weekly newsletters and started applying some of their techniques, and they worked.  So, nine months ago, I decided to visit with them to meet Lew and Jeremy.  After meeting them, I decided to purchase their Found Money Management System and their Fact Finding DVDs.  However, with the holidays and running my P&C business, I didn't get to begin to earnestly study their materials until a few months ago, and then I attended their Found Money Management Boot Camp.  In the past three months, I've sold more life insurance premiums, than I did in the previous 8 years.  I've placed 12 policies with annual premiums ranging from $800 - $30,000.  Their systems and training work.  And, now I'm here at their Advanced Fact-Finding Techniques Sales Skills Boot Camp to learn as much as I can from them.  Lew Nason has the marvelous ability to make the complicated, simple.  He gives small practical helps that can only help to make your agency grow.  What a mentor!
John Stewart,
FMM - GA (P&C Agency Owner), (16 years) July 2009
 

Important Prospecting Update…
 
Stop Chasing The Wrong Prospects...
 

The problem that most agents, advisors and planners have today is they are being told that selling life insurance, annuities and their services is just a numbers game.  They are being told that the more people they see, the more sales they'll make.  Technically that may be correct.  However, because most agents, advisors and planners are willing to believe that insurance sales is just a numbers game, they are focusing on finding high quantities of leads, instead of attracting the right high quality leads!  Which, ultimately means they end up wasting most of their time and money chasing the wrong prospects.

Think about it... Does it matter how many life insurance and annuity leads you have, if they aren't the right leads, and you aren't able to consistently turn those leads into an appointment and then into a sale?

Chasing the wrong life insurance and annuity prospects is a major reason why 90% of the people who enter this industry struggle and are out of the business within 5 years!  And, it's a major reason why the average income for agents, advisors and planners (as reported by LIMRA) is less than $40,000 per year!

 

If you want to succeed in this business, then you need to learn how to attract the prospects you have the best chance of selling!  Who actually needs and want the products you are selling?
 

"Acting On A Good Idea Is Better
Than Just Having A Good Idea."

Testimonials and Success Stories…

 

"Many "experts" claim to have the answers on how to grow your insurance business.  It is nice to actually meet someone who really has the tools and strategies needed to succeed.  Lew Nason is the person who truly delivers.  I have attended his boot camps and purchased his training kits and it was the best investment I could have made in my practice!
Kevin Davis, NY (18 years w/Northwestern Mutual) October 2009

"Thank you very much for the eye-opening and the best training boot camp I have attended so far.  And also thank you very much for your hospitality.  The boot camp is worth more than what we paid for and the information we got out of it is life changing After attending, I now have no doubts about you and your system.  You guys are the most honest and truthful people I have met.  I wish I had attended the boot camp when I first bought your system about a year ago.  From now on I will discard all the other so-called "systems" out there and just follow your system and ingrain it into me so that it becomes a part of who I am and what I represent..."helping people to live debt free and truly wealthy".  Thank you very much and hope to see you soon.  Yours sincerely,"
C.C. Koo, Marketing Director, World Financial Group, Canada, October 2009 (7 years)
 

 “Wisdom is knowing what to do next,
skill is knowing how to do it,
and virtue is doing it.” 

David Star Jordan


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"The training courses by Insurance Pro Shop are the best I have found, because of the focus on basics that will eventually make you successful in this business.  Lew and Jeremy Nason are very committed to helping agents succeed by providing real ideas and methods that are proven to work.  You will walk away with more than you expected!"
Carol Pratt
- CA

Important Prospecting Update…
 

Help People To Convince Themselves That They Need
To Meet With You

 

Obviously, the first step in selling is to get in the prospects door under favorable circumstances.  Since people seldom will call you to ask for life insurance, long term care insurance or even annuities, you are the one who will have to create the favorable circumstances.  Simply put, you have to be able to get in front of people who are expecting you and who have been given a good reason to be interested in your product and services. 

 

However, finding people who are open minded and willing to listen is not enough.  You have to be addressing a problem they currently have and want to solve.  Many people, if you can get hold of them, will agree to sit and listen to an exciting new idea, but will politely turn you away no matter how many different closing strategies you use.  Very few prospects will be swayed by your new and exciting products or ideas, especially in this economy.

 

You'll have to find a unique problem that you can solve for your prospects to get them to agree to see you?  You need to find the best ways to deliver your unique message to help people to convince themselves that they want what you have and they need to meet with you.

 

"Acting On A Good Idea Is Better
Than Just Having A Good Idea."

Testimonials and Success Stories…

 

"Many "experts" claim to have the answers on how to grow your insurance business.  It is nice to actually meet someone who really has the tools and strategies needed to succeed. Lew Nason is the person who truly delivers.  I have attended his boot camps and purchased his training kits and it was the best investment I could have made in my practice!
Kevin Davis, NY (18 years w/Northwestern Mutual) October 2009

"Thank you very much for the eye-opening and the best training boot camp I have attended so far.  And also thank you very much for your hospitality.  The boot camp is worth more than what we paid for and the information we got out of it is life changing After attending, I now have no doubts about you and your system.  You guys are the most honest and truthful people I have met.  I wish I had attended the boot camp when I first bought your system about a year ago.  From now on I will discard all the other so-called "systems" out there and just follow your system and ingrain it into me so that it becomes a part of who I am and what I represent..."helping people to live debt free and truly wealthy".  Thank you very much and hope to see you soon.  Yours sincerely,"
C.C. Koo, Marketing Director, World Financial Group, Canada, October 2009 (7 years)
 

 “Wisdom is knowing what to do next,
skill is knowing how to do it,
and virtue is doing it.” 

David Star Jordan


Fast Track Advisor Guides!


Life Insurance and Annuity
Marketing, Lead Generation, Overcoming Objections, Questions and more...
Tips, Ideas and Training

E-books - 'Immediate Download'
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By Brett Anderson 

This is the best definitive book on Indexed Life and Retirement Planning that I have ever read!  This book will be great for consumers, but also great for insurance agents to learn about the value of Indexed Life. http://www.lastchanceretirement101.com/IPS.html
   

Well, that's it for this weeks 'Moneymaking... Marketing and Sales Tips' Newsletter.  I hope you found the information interesting and helpful in your efforts to grow your sales and income.

 

Lew and Jeremy Nason
'The 9 Out Of 10 Guys'
Marketing and Sales Coaches

 

P.S. Do you have a friend or associate who is struggling in this business and needs help?  Why not tell them about our Web site and forward this newsletter to them. They'll thank you!

 

© 2009, Insurance Pro Shop® - All rights reserved
Lew Nason, with his sons Jeremy Nason and Will Nason are the founders of the Insurance Pro Shop
®

and the creators of the Found Money Management Advanced Life Insurance Sales System the most endorsed and successful Life Insurance prospecting and sales system available for today’s insurance professional!  Lew has been helping agents and advisors to achieve long-term success in financial services industry for almost three decades.  His unique perspective, on how to truly help clients, has enabled scores of agents and advisors reach the top levels of their profession.  Visit his web site at http://www.insuranceproshop.com/ or call 877-297-4608.

 

Helping Insurance Agents and Financial Advisors create endless
streams of new, repeat and referral business…

 

www.insuranceproshop.com
Toll Free # 877-297-4608