How Will I Get Trained?¶

• Licensing.
• Curriculum.
• Cumminuty Resrouces: MKOM, AFC.
• Personal training: face-to-face, phone, video-chat, field training.

I don't like sales¶

1. This objection is often thought but not always stated explicitly by your prospect. You may consider bringing it up to help alleviate their fear of sales.

Version 1¶

"(Prospect), why do you feel that way?" (Isolate what it is about sales they don't like.)

"I understand what you mean (prospect), however would you enjoy helping other people?"

And would you have any objection to showing your friends, relatives and business acquaintances ways to make smart choices about their money?

That's the bottom line of what we're all about. In addition, we take an educational approach, we never do business on the first visit, and our style is non-threatening and easy-going.Does that alleviate your concern about being 'salesy' or 'pushy'?"

Version 2¶

"(Prospect), I used to feel the same way until I realized that I haven't met a human yet who wasn't selling something from products to friendship to what movie we're going to see or where we'll go to dinner. All of us sell, only some people are better at it than others, and they generally enjoy a better quality of life. The truth is, selling is all about persuading another person to see your point of view and how it can benefit them. And our business is nothing more than accurately explaining proven concepts such as Buy Term and Invest the Difference in mutual funds, and retirement income planning, and building your own business. So if I could teach you how to become financially independent by teaching others how to make smart choices about their money, would you be willing to give it try?"

Version 3¶

"I don't want my friends to think I'm trying to make money off of them."

"First of all (prospect), you shouldn't present anything, including our business/products, if it isn't good for them. And we will not ask anybody to do business with us, or join our company, unless we can absolutely improve their current situation. And if we can, won't your friends be glad you showed them our business and products?"

I SUPPOSE.

"In addition, we will always take a non-threatening and soft approach. We never ask for business on the first visit, and we will treat them respectfully. If I commit to you that we will take this attitude, and always do the right thing for them, would you be willing to at least introduce our ideas to them?"

I can't do this business¶

This objection is seldom stated out-loud but it is a lingering question in every new prospects mind. Hence, you should address it regardless if expressed.

Version 1¶

Have a "gentle" tone-of-voice when asking these questions.

"What do you do now?"

"Are you pretty good are your job?"

"How long did it take for you to get comfortable in that job?"

"What did it take for you get comfortable?"

"(Prospect), would you consider yourself reasonably intelligent?"

"So if you applied yourself, you could probably learn most anything, couldn't you?

"If I took the time to teach you, and you decided to learn, couldn't you also learn this business?"

Version 2¶

You may string the two versions together.

"I understand how you feel (prospect), most people feel the same way - they don't really believe that they are capable of doing our business. The fact is, anyone willing to invest time and energy to learn our products and the proper skills can be successful. In addition, we will teach you how to contact people in a professional way so you can share what you've learned. Also, we will show you how to answer the questions that people have which delay them from going ahead."

"The truth is, we have found that people with no prior experience often do the best in our business. The less you know about our industry, the better, that way we don't have to untrain you and then retrain you. By the way (prospect), you didn't know everything about your current job before you took the position, did you?"

I GUESS NOT.

"That's why we have a very comprehensive hands-on training program, and I'll be with you every step of the way. Fair enough?"

I don't like working on commission.¶

Watch I don't like working on just commissions VIDEO

This objection can come from a philosophical issue and/or a practical one. Some people are opposed to the idea of a commissions pay-structure. Others agree with the ideology of production-based pay, but their current financial situation makes commission-only difficult. You want to address both perspectives.

Additional concepts you may want to cover:

• Trails and residual income.
• Overrides
• Salary + Commission

The Script¶

Prospect: I don't like working on commission.

Advisor: Tell me, why do you feel that way?

Prospect: I don't like not having a guaranteed income.

Advisor: I understand (prospect), and many people have felt the same way, until they realized that commissions and overrides are a much more profitable pay structure than salaries are. Let me give you an example of what I mean: let's say I'm a school teacher and I tell all my students that there will be no more As, Bs, Ds, and Fs, only Cs. Everyone gets the same grade no matter how they perform. That hurts those students who deserve As and Bs, and the D and F students get grades they didn't earn. What would that do for our children's motivation and work ethic?

That's right. Fortunately we don't use this system in our schools, but isn't that the way salaries work? Companies pay people this way because it saves them a lot money in the long run. In fact, they make at least four times your salary from the work you do. In the best case they're only paying you 25% of what you're worth. So, if you're a hard worker then you are continually underpaid, and the lazy people are overpaid; the best people end up subsidizing the worst people. And by the way, isn't it true that they pay you just enough so that you don't quit, and most people work just hard enough not to get fired?!

We believe in Performance Pay. We pay you based upon your results. That way the hard workers are rewarded and encouraged to do more, and the lazy people quit because they're not making any money - and we don't want them anyway! For the right kind of person this is the greatest opportunity in the world. Your earnings are based on a merit system - your income is in direct proportion to the work you do. And (prospect) don't you want to get paid what you're worth?

I just don't have time.¶

Watch I don't have time VIDEO

Most people feel the same as you do (prospect). They don't have extra time unless it's for something they feel is very important or unless they will be adequately compensated. For example, if you were called this evening by the California State Lottery informing you that you have won $10 million, but you had to commit 10 hours a week of community service work to receive it, you would make the time wouldn't you (prospect)?

Well, sure.

So, "I-don't-have-any-extra-time" is actually a statement of priority, based on whether the time spent will be beneficial to you. If I could demonstrate to you that your time involved in our business would be worthwhile, you could and would make the time, wouldn't you (prospect)?

I want to spend more time with my family.

"I understand (prospect). What family obligations do you currently have?"

THIS AND THAT.

"From what I hear you saying, your main concern is the quality of time you spend with your family, isn't it?"

YES.

I understand. Many people just like you (prospect) have found it easy to invest one or two evenings a week in order to build a brighter future for their families. And, once they begin to see the results of your commitment to improving their future, they are very supportive and encouraging. By the way, which evenings are your least favorite shows on?"

How are you doing at it?¶

Use this when your prospect puts you on the spot and asks you how much success you've had thus far in the business. You have two choices on how to answer this question:

• Provide a brief history of your success, including your Client Log and income. And also a summary of your goals. Most people do not have clearly defined targets and merely having them will impress.
• Deflect the question back to them.

Version 1¶

Some of the items you can bring up:

• Use your Client Log (Google Spreadsheet) showing how you've helped families.
• Income you've earned.
• Advisors' you've hired and developed and their successes.
• Your goals.

Prospect: So how are you doing at the business?

Advisor: "Better than I expected. Looking at my Client Log I have helped over a dozen families, earned $35,000, developed two fully-licensed Advisors who have each earned over $10,000 within the last six months; all part-time! More importantly, my goals is to develop five more fully-licensed Advisors by the end of the year - and perhaps you'll be a part of that."

Version 2¶

Prospect: So how are you doing as a financial advisor?

Advisor: "Better than I expected. I''ve gotten fully-licensed and am on track to reaching all of my goals. But what's more important is how you'll do at it. And from talking with you and getting to know you; I believe you have all the skills necessary to be a success if you choose to. So, the only question is, do you choose to?"

Can I make money here?¶

Use when your prospect feels he cannot do this business, or assumes it takes certain skills that he does not have. This response also allows you to shift the burden of success from you to your prospect's shoulders.

The Script¶

Prospect: "I'm not sure I can make money at this business. What does it take to be successful as an advisor?"

Advisor: "That's a good question and the answers may surprise you...

1. 1) Do you have a warm market? Do you have a network of friends and associates? Are a significant number of your social circle people who fit our "client profile"?
2. 2) Do you think you are you respected in your community? Do you have credibility with your warm market? Do they like and trust you?
3. 3) Are you willing to set-up client appointments with your warm market?
4. 4) Are you willing to go through the expense and effort to get licensed?

If the answers are "yes" then the only thing left is the effort make it make happen, and that's up to you..."

Big mistake / little mistake¶

Well, John, let's look at it this way. If you were going to make a mistake in life would you rather make a little mistake or a big mistake?

Well, let's look at how this would apply to our business. If you go to work with me, go through the licensing process and through the training process. It only take 3 to 6 months and is on a totally part-time basis. Let's say that you find out it's not for you and you never make a sale and make no money. But nonetheless, you blow the few hundred dollars it cost for licensing to find out it's not for you. At least you tried. You could call that a little mistake.

Look at it another way. You do not give it a try. And three years down the road, 4 or 5 people you know are in my business earning $50,000 to $100,000 a year. These are people that could have been in YOUR business. Each one of these people is worth a minimum of $20,000 a year to you. That's about a $100,000 income for LIFE without you doing anything! Missing out on that is what I would call a big mistake, don't you agree? $100,000 vs.few thousand dollars. Which mistake would you rather make?

I'm emotionally attached to XYZ company, and I can't leave.¶

Watch I'm emotionally attached to XYZ company, and can't leave VIDEO

Use this script when your prospect is attached emotionally to their current broker/dealer even though they admit that ours is a superior opportunity. This is especially true about Primerica reps and to a lessor degree Edward Jones reps.

The Script¶

Prospect: I don't want to leave XXX because I've been there so long and have a lot invested there emotionally. It is very difficult to leave.

Advisor: I understand. Think of it as already having your own practice and all you are doing is changing your product providers platform, compliance development, payroll department etc, from ABC to our firm. Just like switching from Verizon to AT\&T; or from UPS to FedEx. You are still the same Advisor as before, your now just better equipped to offer you clients more and better products."

Why do I have to pay licensing and on-going fees?¶

Compare to Doctors, Lawyers, Nurses and truck drivers.

The securities fees are actually a blessing in disguise. There are three benefits to the fees and I recommend you address them early in the recruiting process. It filters out non-serious and non-financially stable prospects. It gives the rep a sense of ownership because they have skin the in the game. They tend to take the business more serious because they have to produce to pay the fees.

When reps quit the business they really quit. I was in a company for many years that had very, very low fees and many reps would "hang around" which gives you a false perspective of you business. It is good when reps who are not producing (and thus not paying their fees) leave the business.

Why do you recruit? / I don't like the idea of recruiting people.¶

Watch Why do you recruit? I don't like the idea of recruiting people VIDEO

The Script¶

Do you know of any Fortune 500 companies with 1 person?

Are you aware that every successful organization in America became great by recruiting key individuals that led them to success?

NOT REALLY.

You see, all major companies have ongoing recruiting machines; they call it a personnel department. They know they are going to lose people through career changes, illness or even death. So in order to fulfill their objectives they must hire people faster than they are leaving or they will experience a crisis.

At our firm you are the head of your own business, and you have the same challenges that the big corporations do. Your goal is to increase your business size and the only way to do that is to add more agents to your agency. You are in the recruiting and people-development business, and the great news is that there are no restrictions or limitations imposed upon you; you are free to build your agency as big as you want! Therefore, it's imperative that you approach almost everyone and explain why they should at least investigate the possibilities at at firm. Then you don't see anything wrong with giving others the same opportunity you have, do you?

Where do I get names?¶

Watch Where do I get names VIDEO

Script¶

"That's a good question (prospect). If you had a choice about how to get your name out to people, how would you do it?"

"WELL, I'D ADVERTISE, USE FLIERS, POSTCARDS, USE LEADS ETC." Let the person talk and wait until he/she is completely talked-out. Don't interrupt and don't criticize!

"I thought about that too until I realized that those methods are very impersonal and tend to cost money. Let me ask you this, if you were in search of a good movie or restaurant, would you put more weight into an advertisement or the recommendation of a friend?"

"MY FRIEND"

"That's right. It's called word-of-mouth, and that's what we use. It's effective because it's based on trust. We believe in the grass-roots approach. . .people telling people, friend to friend, neighbor to neighbor. We find potential clients and trainees through referrals, references and recommendations. That's where you come in (prospect). You know people who don't know about our concepts yet, but need to know. So with your contacts and my skills, we'll build you a business. And just as our financial concepts and business opportunity make sense to you, wouldn't they also make sense to others we share them with?"

I can get (or want) a higher commission rate¶

This thinking comes from the limited-thinking of a sales person, as opposed to the exponential-thinking of a business owner.

Never make a decision based upon your starting contract. Pretend every company you're considering is starting you off at the entry-level. Six months from now you won't care what your starting level was, but you'll care about other more important issues. Don't make a long-term career decision based on the very-short term.

I've found that if a firm needs a "high" contract to attract an Advisor, then they're probably lacking elsewhere - it's a smoke screen. And a firm that doesn't need to use that carrot is probably very solid and confident (that's why we don't use high contracts as "carrots" at our firm). Also, there's something satisfying about earning it, instead of it begin gifted to oneself. Finally, if you are going to build a team, you it actually better to start a low as you possibly can, so you have a precedent. If you come in at a high level, then where do your future Advisors come in? If you bring them all in a high level, there goes your override spread. But, imagine you can show them you journey of coming in at a low level and working your way up.

Profit Percentage¶

When discussing/comparing commissions you should add your personal commission level plus the spread/override of all your directs. For example,

• You are at a 50% securities commission level.
• And, you have the following directs with these overrides:
• 25%
• 20%
• 15%
• 10%
• 5%

Thus, your "profit percentage" level is 125%.

I'll go to your meeting if you come to mine.¶

P: I'll go to your meeting if you go to mine.

A: I see.

You know Michael, have you ever thought about that to be successful in business, especially where you're training and attracting other people, one of the key elements is leadership and dedication, and having this image of being someone who is going somewhere?

Well, I'm one of those people.

I think in business of any organization, if you can find someone who really believes they're are going somewhere and you want to go in that direction, you should unhook your wagon and hook it with theirs.

I've been in business long enough, and I know where I'm going.

Imagine if you were developing a team, and they found out that after all this time, they found out you were looking elsewhere.

Do you feel that that would instill confidence or instill doubt?

(WFA, wait for answer)

A: Right.

And again, I'm in that position right now.

If you continue to go with that mindset, of looking here and there, you will be in that boat for the next 90 years.

It's possible that you will find it eventually. But I found mine and I've planted my feet.

I promise you that if you work with me I will lead you to success.

The reason isn't because of the business, versus another company. It's because I've developed other people for success.

What do you think about that?

If it's so good so why isn't everyone doing it?¶

"If it's so good so why isn't everyone doing it?" / "I know someone who tried it and they didn't succeed." / "Don't you have a high turnover rate?" / "What's the catch?"

(Use when you wish to position the burden of success to them.)

"Would you agree with me (prospect) that there are a lot of things in life that are good for us that we don't do?. .[no pause]. . .things like exercise, and eating the right kinds of foods. They require discipline, don't they, (prospect)?"

YES.

"Well, this business is a lot like that. It requires a certain amount of discipline to succeed - and some people aren't willing to commit to that discipline. However, I'll help you; you are never alone. We have a very comprehensive hands-on training program, and I'll be with you every step of the way. So let me help you build the confidence and discipline you need to reach all your goals and that's what you really want, isn't it (prospect)?"

Is this an MLM / Pyramid?¶

Use this when your prospect thinks you are an MLM, Network Marketing business, or "Pyramid scheme".

The Script #1¶

Prospect: Is this like Amway (or any other MLM)?

Advisor: ""(Prospect), do you like the idea of (company)?"

If "YES" then say, "Great! You'll love our company then because we're very similar, except our income opportunity is proven to be far greater, and that's the bottom-line, isn't it (prospect)?"

If "NO" then say, Why not? (WFA)

"Great, you'll love our company then because we're really nothing like them. You see, with us you must get licensed to market our products, and we offer only a few select financial services, not thousands of different ones. And we have a very comprehensive and rigorous training program that's the finest in the industry. In addition, our income opportunity is proven to be far greater than that type of company. So, in every way, other than the opportunity to build your own agency, we are different.

Most Networking Marketing companies are focused on recruiting first, and product selling second. We are a financial planning company first, that happens to allow our Advisors to hire other Advisors and build a sales force, a management team and possible build their own agency.

The Script #2 Prospect: Is this Is this a pyramid?"

Advisor: "What do you mean by a 'pyramid/mlm' (prospect)?"

YOU KNOW. YOU HIRE PEOPLE, THEY HIRE PEOPLE, ETC.

"I see. Let me ask you a question. Does the company you work for have different levels of management?"

YES.

"And do those managers at various levels get compensated according to their ability to get lower level employees to do their jobs?"

YES.

"And do the higher level employees get paid more than the lower?"

OF COURSE!

"By the way, what is the probability for new employees of becoming a Vice President at your company?"

NO CHANCE.

"So, from what you told me (prospect), it sounds like you work for a pyramid/mlm because our company works the same way, except with us you have a clear cut way of getting promoted and a realistic chance of becoming a Vice President and that's more attractive, isn't it (prospect)?"

Laying Bricks vs Owning a Goldmine¶

To be used when comparing a job with owning a business.

A job is a lot like laying bricks. They give you a pile of bricks, you work hard to place one on top of another and they pay you a couple of bucks. Then they give you some more bricks, you work hard to place one on top of another, and they pay you a couple of more bucks. And you do it day in and day out. But no matter how long you do it, someone else owns the land and somebody else owns the finished product.

But owning your own business is a lot like heading into a goldmine everyday. You put on your hard hat with the light in front, you grab your pick-axe and swing it few times and you find a little nugget, maybe just big enough to keep you in business for a few more weeks. And on many days you don't find anything. Then finally, you swing that pick and hit a gold vein and you are set for life, because you own the mine, the gold and the final product!

You shouldn't be surprised when people get rich owning old mines, and that one will never become financially independent laying bricks for someone else.

Little Red Wagon Story¶

Watch Little Red Wagon Story VIDEO

The idea behind LRW is that can Advisors whom you're leading enroll in your vision. People will buy into you and where you are headed. The LRW story below is one you can use a template to develop your customized personal story. The second paragraph is where you will make the most adjustments based upon your goals.

The Story¶

Bob, I am going to be upfront with you today. I am looking for people who are dreamers and doers. I am interested in those who are sick and tired of being sick and tired who want to do something great with their life and break the norm.

So, let me give you a snap shot of myself and where we are headed. One of my biggest goals in life is to build a business that generates a residual income in the high six-figures. In order for me to do that, I need to help 7 to 10 individuals will earn $100K to $250K.

Bob, I heard a very successful business once explain, that if you can find someone who has the vision, the vehicle and more importantly can look you in the eyes and back his story, then you should un-hook your little read wagon from whatever it's attached to, and hook it on to him, because he can help drag you to success. Bob, I believe I am that person, and I invite you to hook-up your red wagon to mine. What do you say?