The late, legendary Ben Feldman was one of the greatest salesmen in the history of the world, and has been written up in the Guinness Book of World Records for his accomplishments. He went from being a $10-a-week butter-and-egg salesman, to becoming one of the world’s greatest salesmen ever. Ben made the record books by selling ‘life insurance!’ For 52 years, from 1941 until his death in 1993, he sold life insurance for New York Life. His lifetime sales volume exceeded $1.5 billion… with 1/3 of his sales coming after he reached the age of 65. And, he did it all in Liverpool, Ohio, a small town of only 13,000 people!
There have been many books and articles written by and about Ben Feldman that have attempted to explain how and why he was able to achieve this extraordinary level of insurance sales success. Ultimately, it boils down to… Ben Feldman was successful because he mastered the basics, and did them better than any of his competition!
Nothing has really changed in our business, only our perceptions. If you want to be successful selling life insurance, (or anything else) then you need to get back to the basics… Marketing & Sales!
One of the primary reasons for Ben Feldman’s outrageous success is that for most of his career he spent two hours every night, from 10:00 P.M. to midnight, studying the field of life insurance. He not only studied life insurance, but also selling methodologies and persuasion skills, along with financial planning, actuarial tables, and every other subject he could think of that would make him more knowledgeable and, therefore, more capable of ‘serving’ his clients.
In Ben’s own words, “Read! Study never stops because publications never stop coming in. It’s read and study. And think about what you’re studying. Take it apart and put it together. Ask ‘why?’ And know the answers.”
Ben Feldman was famous for his ‘power phrases’ to get his prospects to take action. One of his most famous ‘power phases’ was: “Doing something costs something. Doing nothing costs something. And, quite often, doing nothing costs a lot more!”
The above quote certainly applies to everyone in this business! There is a price to pay in time and money if you want to be successful in insurance sales. There’s also a price you’ll pay by doing nothing, and that price is ‘Lost Sales!’