LL Global Services, Inc.© 2015

The Elements of a Successful Insurance Career

Welcome

The objective of this Workshop is to provide you with a few insights on the importance of developing positive habits and building your Career in the Insurance business.

By applying this knowledge, you will benefit through improved:

• Activity• Sales Results• Job Satisfaction

Today’s Agenda

Introduction – Being a Winner Habits - the common denominator of success In Business for yourself not by yourself Prospecting Cross selling Your book of Business Annual reviews Annual planning Goal setting The Principles of Success

Introduction

From Dictionary.com . . .

win·ner

– noun 1. a person or thing that wins; victor.

– Idiom 2. winner take all, a situation or outcome whereby the winner receives all the prizes or rewards

Related Words for winner: Victor, achiever, succeeder, successful

In our business Winning Agents are highly productive and self-sufficient leaders.

The Common Denominator of Success

“The secret of success of every man (or woman) who has ever been successful – lies in the fact that he/she formed the habit of doing things that failures don’t like to do.”

Albert Gray, 1940 NALU Convention

The Common Denominator

Successful people are influenced by the desire for pleasing results.

Failures are influenced by the desire for pleasing methods and are inclined to be satisfied with such results as can be obtained by doing things they like to do.

Successful people have a purpose strong enough to make them form the habit of doing the things they don’t like to do in order to accomplish the purpose they want to accomplish.

If you do not deliberately form good habits, then unconsciously you will form bad ones.

The Effect of Habits

Positive Habits can impact your career far more than Knowledge and Skills

Good habits will improve Knowledge and Skills over time The right Habits will:

Establish consistent activity Drive performance Achieve goals

It’s Your Business

Are you having fun with the Job? Do you recognize the benefits and satisfaction of doing your work?

Find ways to make things fun Build on your natural enthusiasm for the opportunity Take time to recognize success and celebrate Minimize and overcome the negative experiences Gravitate to that which produces the best results Do Joint Field Work

It’s Your Business

You’re in business for yourself, but not by yourself You have the opportunity to succeed or fail Your Company will help you manage your activity and

provide training, supervision and development Your Manager is a resource – use it

It’s Your Business

This business will be whatever you make it to be If you do what is necessary to become successful, your

business will give you financial security, freedom, and a lifestyle that will be fulfilling and pleasing.

Sales can be the best paying “hard” work and the worst paying easy work. It’s your decision what you will have from your business at the end of the day!

Commitment to the Business

Are you committed to doing what it takes?

You must be completely committed to your career Your belief in the potential is critical Do what you said you would do The “Pain of Discipline” vs. “the Pain of Regret” You must be accountable to yourself – follow up

Commitment to the Business

Work a Full Day . . .

Start early each day Put in a full day of (activity) work Include appropriate time for:

Study Case preparation Keeping accurate records Effective analyses of needs, etc.

Commitment to the Business

What is a Full Day’s Work?

It does not start at 8.30am and end at 5.00pm You can’t expect a sale daily 25 Activity Points should be the minimum (20 Pt System) 3 Levels of tracking:

1. Record at the end of the day (conscious)2. Record during the day3. Habit (unconscious)

A Consistent Process

Do you follow a consistent Sales Process? Following a consistent sales process and mastery of the underlying skills will improve your Sales success rate.

Be an expert at Prospecting Cross Sell your customer base Promote Annual Reviews Complete an Annual Plan for Yourself

Prospecting

Prospecting is either a Habit or a Problem!

Know the prospect qualities to look for Know where to find qualified candidates Master the Referred Lead talk Qualify your Suspects

Do they have a need Can they be seen on a favorable basis Can they afford the solution (Premium) Can they pass any health requirements (healthy)

Good prospecting takes time & effort. Prospecting is a contact sport played 24 hours a day, 7 days a week, 365 days a year

Cross Selling Your Business

Propose a Financial Check-up for your clients . . .

Is your life insurance adequate? Have you had a change in family status? Is your medical / health coverage up to date? In the event of accident or natural disaster, is your Auto and

Home Owner’s cover adequate? Is your children’s education adequately funded? Is your retirement planning in Place?

Your customers have these needs – help them to be met through your business or through a colleague.

Consistent and thorough annual reviews can help . . .

Decrease your chances for customer complaints

Increase repeat business with existing clients

Increase your persistency

Increase your referrals

Help you to be perceived as providing high quality service

The Annual Review

The Six steps to conducting an effective annual review. . .

Get reacquainted with the client

Update the client on the Company and yourself

Update the client about his/her portfolio

Conduct a new fact-finder and needs analysis

Ask for referrals

Set up for the next step or next annual review

The Annual Review

Annual Planning

An Annual business Plan consists of three parts . . .

The Direction – A Clear Picture The Foundation of the Business Plan Unlimited Potential Balanced Goals Quality of Life Cost Business Plan/Strategic Direction

The Strategy – How you will get there Implementing Your Business Plan Major Breakthrough Tactics

Change Management – Implementing the necessary changes Critical Success Factors Breakthrough Continual Analysis

Annual Planning

Balanced Goals consistent with your core values that can be achieved in the next 3-5 years . . .

Education – What I want to learn Family – What I want to do with my family Career – What key financial Financial goals Health and Fitness – What are my general health goals Social and Cultural – What I want to do just for fun Spiritual – What I want to do for inner peace

Know the Rules ! ! !

Rule # 1 is Understand your Compensation

Rule #2 is Maximize Rule #1

Annual Planning Rules

Annual Plan Progress

Being personally accountable for your activity will produce dramatic results.

Measuring and monitoring your progress is essential Follow the company’s Activity Management system Use Agent Activity Tools that are available Track your activity vs. standards Keep Score by using the 20 Point Activity System Identify any development needs with an action plan

The 20 Point System

Goal Setting

Goals have been defined as “dreams with deadlines”. . .

They must be definite and quantifiable with time limits for accomplishments.

 

Examples:

A wish is to have a big house. A goal is to purchase a 300 sq m home in a specific place by a specific time (example by January 2018).

A wish is to be more professional. A goal is to complete one LOMA course per quarter starting in July, 2015.

Goal Setting

  Your one-year goals should be the most specific The 1-3 year goals should allow you to dream  The goals you set should be top of mind awareness If your goals are clear and deeply rooted, they are on a

collision course with success. 

Ideas To Help You Win

Begin With the End in Mind Run your practice like a business Do quarterly planning sessions Participate in a sales builder group Participate in a study group Share case studies with your peers Do annual reviews with your clients Create your own development plan

Ideas To Help You Win

Set goals, write them down, and keep them visible Stay in touch with your best clients Plan your day and week and year Know the economic value of your key activities and

focus on what you control Do your daily habits support your goals. . . regarding

time and effort. . . calls made, referrals obtained Participate in networking to market yourself Identify how you want your practice to look like in 3-5 yrs Find ways to motivate yourself

What we Sell . . .

Until called upon in time of need, a life insurance policy is just a piece of paper. At death it is much more . . .

– Food, shelter, clothing, education– Allows a mother to spend time with her children– Party dresses, bicycles, birthday presents

If you live it provides……

– Money in retirement to supplement your current lifestyle,

to travel and vacation

It is without question the finest financial product ever invented by the mind of man.

Life Insurance

The Character Sale . . .

Life insurance is the only product that requires more than money to buy it. It takes money, good health, and character to purchase insurance.

1. Don’t expect the least when you can expect the most . . .One Plain Bar of Iron ($5.00) can be created into many

different items of vastly different value:–A Hammer ($10.50)–Sewing Needles ($3250.85)–Balance Springs for Watches ($250,000)

The same is true of another kind of material – You!

Success Principle 1

Success Principle 2

2. There is no substitute for hard work

Every morning in Africa, a gazelle wakes up. It knows it must outrun the fastest lion or it will be killed.

Every morning in Africa, a lion wakes up. It knows it must run faster than the slowest gazelle or it will starve.

The Moral: It doesn’t matter whether you’re a lion or a gazelle – when the sun comes up, you’d better be running!

3. The Importance of People – People are No. 1.

Encourage them to dream and help them achieve their dreams for their families. This is your prime responsibility.

Success Principle 3

Success Principle 4

4. Guard your habits.

Good Habits will propel your success but bad Habits will destroy you.

Success Principle 5

5. People grow by making decisions and assuming responsibility for them.

“Good judgment comes from experience.Experience comes from poor judgment.”

Mullah Nasrudin (circa 1208)

6. Your Direction Is as Important as Your Speed

Success Principle 6

Success Principle 7

7. Time Management – Manage your time wisely.

Have short, to the point, conversations and make every minute of the day count.

Success Principle 8

8. Remember Your Purpose – going from success to significance.

You will never succeed beyond the purpose to which you are willing to surrender.

Success Principle 9

9. Maintain a Sense of Humor.

Think objectively and keep a sense of humor. Make the business fun for you and for others.

Success Principle 10

10. Believe in the Value of Life Insurance

Be enthusiastic - sell what life insurance can do Lead People to Buy What you do makes a difference Life insurance provides security and peace of mind

“Big thinking precedes great achievement.”- Wilfred A. Peterson

Final Thoughts to Ponder

“Without labor nothing prospers.” - Sophocles

Thank Youand

Good Luck ! !