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Reply to Guidance for New Life Agents     
Old 12-28-2016, 03:12 PM   #131
DHK
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DHK on Guidance for New Life Agents
 
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Guidance for New Life Agents Re: Guidance for New Life Agents DHK is the thread starter for: Guidance for New Life Agents

Just wow!

You Tube

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I just finished reading three books by Claude Whitacre. Claude is the one who made the Ben Feldman recordings public that I posted earlier in this thread. Anyway, he wrote 3 OUTSTANDING books that, in my opinion, if you want to excel, you need to buy, read, and apply.

Claude just happens to think and write the way I tend to think and write. Now, he did sell life insurance for a while, but he's been selling vacuum cleaners for a long time. Claude says he uses about 71 different selling techniques, and only ONE came from his industry. Almost everything else he does, came from other industries. (Like me, he has also studied network marketing sales strategies and applied what he can to what he does.)

Here's his review of The Feldman Method book by Ben Feldman:
You Tube

Here's his review of Frank Bettger's book on "How I Raised Myself From Failure To Success in Selling":
You Tube

Current pricing is $2.99 for each Kindle book... or thousands of dollars NOT to read them.

https://www.amazon.com/Selling-Essen...cm_cr-mr-title

My review:
This is a FANTASTIC framework for training new salespeople. I certainly wish I had a manager that would've had such an organized way to train when I first went into full-time, field-based, commission sales. I would've avoided a lot of pain, similar to what Claude outlined in the beginning as to why he wrote this book in the first place.

It often seems that most companies hire by this maxim: "Hire 'em in masses, teach 'em in classes, sell all their family and friends, and fire their ***es." The reason is because there is far more demand for a "position" than there is talent and skill to teach these new people. It's also a sad thing that I've found that many sales managers are sales managers because they BARELY made their own quotas themselves, or their personal experience is 25 years ago.

I also want to suggest an idea to the reader: If you're looking for a job, and you're considering commissioned based sales, use this book to help you craft a LOT of questions to ask in the interview process as to what you know you're going to need to be successful. Then rate their answers on how specific these recruiters/sales managers are for each point. Remember that YOU have far more risk for the success of your new career than the company does. It's unfortunate, but because YOU have more risk for the position than they do, YOU need to ask more questions of THEM, than they have to ask of you. And no, it won't work against you. They'll see that you have a great deal of potential by asking such pointed questions... they'll WANT you.


https://www.amazon.com/Sales-Prospec...cm_cr-mr-title

My review:
I've been in sales for a long time. I admit, I did not learn much in this book. However, this book has some of the BEST LESSONS in it that I had learned and concluded from being in my "School of Hard Knocks". Part of me wants to give it less than 5 stars for practically GIVING these lessons away so inexpensively that I've paid for myself in lost sales opportunities and paid training courses (that literally cost THOUSANDS).

In short, for me, this book just reaffirms the way I think about a professional's selling process. Sometimes I wonder if I'm on the right track with the way I think. Yes, I get decent results, but having this book as an 'affirmation' of sorts is valuable in and of itself.


https://www.amazon.com/One-Call-Clos...cm_cr-mr-title

My review:
I've read several dozens, if not hundreds of books on sales. You could probably eliminate 75% or more of them just by buying, reading, and applying what is in this book.

Here is the basic theme of this book: Be honest, be direct, and be sincere... with a little showmanship. Selling has ALWAYS been about the experience you deliver for the prospective customer. Make the entire experience one that is enjoyable for you and them, and profitable... which you will leverage into referrals. This book will help show you how. My career will forever be changed because I bought and read this book. I've got some work to do now.


If you can't afford the $10 for these 3 books, you should go find something else to do.
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Last edited by DHK; 12-28-2016 at 03:24 PM.
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Old 02-13-2017, 03:13 PM   #132
DHK
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Guidance for New Life Agents Re: Guidance for New Life Agents DHK is the thread starter for: Guidance for New Life Agents

Just stumbled onto this video on YouTube. Michael Kitces primarily writes his blog and his materials for the financial advisor/RIA market. However, if you're offering comprehensive life insurance planning and retirement planning with annuities (as taught by the Insurance Pro Shop that I highly recommend or any other selling system/method), this is a FANTASTIC way to craft your professional introduction and bullet points of what you do and who you do it for.

This is my preferred method of prospecting/introducing myself, but I have customized my talking points relevant to my products and what they do for the people I work with.

You Tube

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Old 02-14-2017, 12:05 PM   #133
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Guidance for New Life Agents Re: Guidance for New Life Agents
"Chewie, we're home"

I can't wait to cozy up to an adult beverage and sip on this for a while.
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Old 03-29-2017, 05:05 PM   #134
DHK
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DHK on Guidance for New Life Agents
 
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Guidance for New Life Agents Re: Guidance for New Life Agents DHK is the thread starter for: Guidance for New Life Agents

Choosing a Market Niche:

Okay, we get this question a LOT on this forum - people who are looking for a job, people looking at companies, IMOs, etc., and just looking for a way to sell insurance.

However, we know that before one can give a company or IMO recommendation, we need to know what MARKET the agent wants to be in. Most newly licensed agents don't necessarily know HOW to think about their "ideal market" or the kinds of products they want to sell. They simply want mentoring and guidance to earn a 6-figure income.

Well, a while ago, I came up with a "model" of the various kinds of insurance markets, based on the classic Monopoly game.

This morning, I finally recorded a presentation on it:

You Tube

Here's the "Cliff's Notes":
Here’s a summary of my monopoly/target market opinions:
- Mediterranean Ave / Baltic Ave = Supplemental Health Insurance (AFLAC, Combined, Colonial life)

- Connecticut / Oriental / Vermont = Group Insurance (Health, Dental, Vision, Life, Disability, etc.)

- St. Charles Place / States / Virginia = Senior Market (Medicare Supplement & Final Expense, with generally limited opportunities to cross-sell annuities and long term care)

The only designations that I think may matter to this point, may be the educational content of the CSA or Certified Senior Advisor designation for the senior market. Check with your state insurance department to verify if the designation itself is allowed to be used. (It is not allowed in California.)

- St. James Place / Tennessee / New York Ave = Middle Income Market with fixed insurance products only (Whole life / UL / IUL, Disability, Critical Illness, rollovers to fixed and fixed indexed annuities)

- Indiana Ave / Kentucky Ave / Illinois Ave = Middle Income Market with Series 6 & 63 securities licensing (same as the orange property group but adding mutual funds and variable life and annuity products)

- Atlantic Ave / Ventnor Ave / Marvin Gardens = Retirement Market with Series 7 & 66 OR a Series 65; wealth management, annuities, and other products. Most investment firms, such as Merrill Lynch and Morgan Stanley are firmly in this space here.

- Pacific Ave / North Carolina Ave / Pennsylvania Ave = Business Owner Planning Market; buy/sell, key man, executive comp, 401k, and other planning.

- Park Place and Boardwalk = Premium Finance cases; borrowing money to pay the premiums because of an illiquid estate or other business situations.

Through this point, I think that financial planning designations along with the skills and ability to simplify financial concepts would be very helpful. CFP, CLU, ChFC, and perhaps other “post-CFP” designations for various specializations.

- Railroads = Term and Disability Insurance

- Utilities = product specialists that work with other professionals, such as long-term care and life settlements

I am not affiliated with the Insurance Pro Shop or Wayne Cotton, aside from finding great value in what they teach and sell.

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Old 06-15-2017, 01:19 AM   #135
DHK
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DHK on Guidance for New Life Agents
 
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Guidance for New Life Agents Re: Guidance for New Life Agents DHK is the thread starter for: Guidance for New Life Agents

Just found this on YouTube. It's Ben Feldman and a CLIENT on stage at MDRT discussing "The Anatomy of a Sale". If you listened to the other recording from 1978, I'm reasonably sure this is the client he has insured for $50 million of whole life insurance... and you can hear from HIM why he bought when Ben Feldman presents.

You Tube


And I uploaded this one myself. This was the free mp3 from the old 'John Savage System' website. I turned the mp3 into a video and uploaded it. And it really is "The Best of John Savage".

You Tube

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Last edited by DHK; 06-15-2017 at 01:59 PM.
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Old 06-19-2017, 08:20 PM   #136
DHK
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DHK on Guidance for New Life Agents
 
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Guidance for New Life Agents Re: Guidance for New Life Agents DHK is the thread starter for: Guidance for New Life Agents

I just found THIS video of Marvin Feldman (son of Ben Feldman) and right now, I'm about 20 minutes into it.

Here's the weird thing: Notice how many EMPTY CHAIRS there are! I'm surprised that his session isn't packed! If I was there, I'd be in the front row taking notes.

You Tube

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