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Sales Tips…It's the Little Things!
Most agents are being led to believe that in order to make big money in this industry, they must make big changes. They are being told to stop what they are doing, completely change their market, and focus their efforts on the big money in the advanced markets!
And, it's easy to convince most agents to change. They want to believe there is an easier way. 'The grass is always greener on the other side of the fence.'
However, the truth is that in most cases there is no better market than the one you are in right now. If you look at industry leaders such as the MDRT, Top Of the Table qualifiers, the vast majority of them are not in the advanced markets. They run into one of the advanced cases every now and then, but their main focus is on a 'Bread and Butter' market where they consistently generate sales.
Top Producers know that it is the little things that make the difference. 'It's about continuous learning and continuous improvement. It's learning how to: ask better questions, close more sales, get more referrals, make larger sales and make repeat sales!
“It's not the answer, it's the quality of the question.”
Get to know us before you invest your time and money in any of our systems, training or support! www.insuranceproshop.com |
Success Tips…Make A Difference!
If you want to truly succeed in this business, then it's time to focus on making a difference in your clients' lives! You can make a difference by using all that you are, all you have learned and all you have experienced to help your clients to better their lives. You can be better and you can make the lives of your clients better.
Develop a passion for what you do! Insurance sales is more than closing sales and making money. It's about learning how to enrich your clients' lives, which will ultimately enrich your life. It's about believing in and feeling good about what you do.
Develop a passion for learning... Knowledge Is Power. The more you learn, the more you'll grow and the more you'll be able to help your clients. Seek out training opportunities that involve more than just learning about products and investment returns. Learn how to market yourself to the right prospects and learn how to get your prospects involved in finding solutions for their problems.
Develop a passion for being the best that you can be! Become more self-fulfilling. Live from the heart! Break down the barriers that prevent passion from flowing into your life. Rely on yourself and your passion to turn your plans, hopes and dreams into reality!
"Whatever the mind of man can conceive and believe, it can achieve." Napoleon Hill
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Providing A Lifetime Retirement Income?
Over the holidays, my wife and I had a wonderful time visiting with family that we don’t get to see very often. It was great talking to them and catching up on the news about them and their family. During one of the conversations, we briefly discussed their retirement income and they made the following comment - “As long as we earn an average 8 to 9% return our money will last forever.” It reminded me that many retired people are counting on their stockbroker to help them out perform the stock market during their 20 or more years of retirement. And, maybe they will? But even, if they have a great broker who is able to outperform the stock market, they still run the real risk of running out of money.
Let me explain. Over the years, I’ve had too many retired couples come to me asking for help because they are running out of money. For example: One of the couples retired in 1992 with a little over one million dollars. They had been taking $70,000 per year to live on and when I met them in 2003 they had less than $176,000. They were running out of money and didn’t know what they were going to do? Their investment broker had assured them that they would average an 8 to 9% return on their retirement portfolio… and they had. The problem is that although they had averaged the 8 to 9% return, they didn’t get that return each and every year. They had years where they made less than 8 to 9%, and years where they lost money. And, each of those years they still withdrew the $70,000 of income they needed to maintain their current life style. When you take an income from your retirement portfolio in years with low returns or losses, you are very often forced to dig into your investment principal, and you are compounding your investment losses.
Plus, each year they were paying management fees to their broker, whether their retirement portfolio made money or not. Consider, if you average 8 to 9%, and you pay a 2% management fee, then isn’t your net average return only 6 to 7% per year?
The final straw for them was when the stock market took the significant downturn in 2000 to 2003 and they lost over 40% of their remaining money. Because they had no way to recoup their losses and needed the income, they were forced into taking out a reverse mortgage on their home, significantly cutting back on their life style and looking to their children for help. This is much too common a story.
The Question Is: “Will Your Clients Run Out Of Money?” Even after the market correction at the turn of the century, I’ve still been recommending that retirees get out of the stock market with the money they use to generate an income. I believe that the stock market is still overpriced! Evaluating ‘Price to Earning Ratios’, ‘Dividend Yields’, ‘Relative Strength’ and other factors indicates that stock prices still appear to be higher than normal.
Why Is The Market Overpriced? There are many factors that contributed to the overvalued stock market of the 90s, such as new technology, an undervalued US dollar, declining interest rates, etc. However, one of the most dominant reasons is that in the 90’s many Baby Boomers, to make up for lost time, funneled most, if not all of their retirement savings into the stock market over a very short time. This caused the stock market prices, in the 90s, to soar dramatically.
In 2000-2003 we saw a significant price correction. However, because the ‘FED’ kept interest rates extremely low during and after that market correction, there appeared to be no better place for these people to invest their money to get a decent return. Consequently many Boomers, finding no better investment alternatives, left their money in the stock market, which prevented the stock market from making a full correction.
Even if you don’t believe the stock market is currently overpriced, is there any question that in the next few years, we are going to have unprecedented numbers of people retiring. What’s going to happen when each year more and more of these people start liquidating their investments to provide an income? When more money is being taken out of the market than is being put in, will we see a sharp decline in the stock market prices or just lack luster returns? Who knows? But, to expect an average return of 8-9% during the next 10 years or so would seem to be very unlikely and be just wishful thinking!
What’s The Best Way To Make Your Clients’ Money Last? There is no single investment or income generation strategy for retirees that will work in every situation! Every retiree’s situation is different. However, for most retirees, income laddering with a portion of their money, using annuities, may provide more potential for a longer sustainable income, with less risk to investment principal and no fees. There is also the new breed of annuities that are tied to a Stock Market Index, such as the S&P 500. These equity indexed annuities can provide retirees with the upside potential of the stock market, without the catastrophic downside market risks.
There is much to consider when helping clients in their retirement years and many questions that need answers. One of the most important questions for you is: “What’s more important, the amount of money your clients have invested, or the amount of income they get to spend?”
Lew Nason ‘The Nine Out Of Ten Guy’ Trainer, Coach and Mentor…
P.S. In our Annuity Sales Excellence™ Advanced Lead, Seminar and Sales System you'll learn how to really help retirees using proven concepts like Income Laddering with Split Annuities, Wealth Transfer, Roth IRA Conversions, Stretch IRAs, Social Security Income Tax Reduction and more… Plus, you'll learn the 12 best, most cost-effective ways to consistently generate a steady stream of high quality prospects.
“All of us do not have equal talent, but all of us have an equal opportunity to develop our talents.”
Get to know us before you invest your time and money in our systems, training, tools or support! www.insuranceproshop.com
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Important Prospecting Update… Generate A Consistent Flow Of The Right Prospects!
To attract the right prospects it is absolutely critical that you specialize in solving a specific problem they have. People are not looking for a sales person who is just trying to sell them another product or service that they can't afford. People are looking for expert advice and help from someone they respect and can trust. And that person can and should be you.
Your goal, if you want long term success, is to get your name out there as often as possible, so that prospects feel they know you. Then when you send out a sales letter, or run ads they feel comfortable calling you.
Get Your Name Out There To get your name out there you must get articles published, with your byline, in your local newspapers and newsletters, get newsworthy public service events published in your local news, write comments to the editor, be active in local associations, be interviewed on a local talk radio station, be listed on local websites and offer free educational workshops at colleges and libraries.
Why should anyone call you or set an appointment with you, if the have never heard of you.
"Acting on a good idea is better
than just having a good idea.”
Robert Half
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Testimonials and Success Stories…Will 2007 Your Best Year?"Your Found Money Management Boot Camp is very pragmatic, easy to understand and makes it easy to implement the ideas. Great passion Lew, thanks for having me here. Keep winning."
Roger Blair, Co-founder
of Solutions 21 Financial & DSC Lifestyle Services.
Woodbridge, Ontario, Canada. December 2006 (25 years)
"The fact finding, 5-minute
presentations and 2-page presentations are all invaluable! I really
appreciate your helpfulness, philosophy and ethical, non-greedy
approach."
“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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Hot New Sales Opportunities…
Get Off To A Fast Start In 2007...
If you were looking for the best marketing and sales training... What would you look for???
Testimonials From The Most Respected and Trusted Leaders In The USA
Testimonials From Agents and Advisors Who Are Using The Systems and Training
A Coach, Trainer, and Mentor Who Has A Documented, 25 Year History Of Success
Members in good standing of the Better Business Bureau of Metro Atlanta
A 60 Day, No Questions Asked, 100% Money Back Guarantee... On Our Systems
Get Off To A Quick Start For 2007, and You'll Make It Your Best Year Ever!
Yours in Success, Insurance Pro Shop Team 877-297-4608
"Success Doesn’t Come To You… You Go To It." Marva Collins
Get to know us before you invest your time and money in our systems, training, tools or support! www.insuranceproshop.com
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Lew Nason Marketing and Sales Coach Creator & Founder of www.insuranceproshop.com
P.S. Do you have a friend or associate who needs help? Why not tell them about our web site or better yet, forward this newsletter to them. They'll thank you!
©
2007 by Lew Nason, RFC, FMM, LUTC Graduate, All rights reserved
Helping Insurance Agents and Advisors create endless streams of new, repeat and referral business…
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