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March 01, 2011 at 07:00 PM
I know the only secret to spectacular sales success. If you keep reading, you will too.
That’s a bold statement. However, since I have individually coached as well as otherwise helped create some of the spectacular successes in this industry, I am prepared to venture into this dangerous territory.
My search for the “only secret” goes back to 1989. At that time, I was writing for Registered Rep magazine. I wanted to know: Is there one thing that those at the top of the heap do (or don’t do) that is missing from the activity matrix of those who don’t make it to the end of the rainbow? What is it?
To answer my own question, I designed a survey, which turns out to have been my first of many “work habits” surveys. I asked about every possible thing I thought it could be. I received something over 1,200 replies, and when I tabulated the survey I was initially dismayed. There was no “secret of spectacular sales success.” No matter how I tabulated, no one thing jumped out.
So perhaps, I thought, it’s not one thing. There may be several secrets. Once again, I pored over the surveys, and gradually “the secret” emerged from this smoking pile of data.
The fabled “only secret,” was simply: those who made it to the end of the rainbow did a little bit better at practically every aspect of the business. To put it another way, the only secret is: master more “best practices.”
Since then, my focus has been to identify the best way to close, develop referrals, provide great service, stay in touch, mass market, do promotion and deliver seminars. As I have focused my clients on these best practices, their production has soared.
But a question I constantly pose to myself is: Did I get it right? Did I miss anything?
After a lot of thought on the only secret, I answered myself, “Yes, I got it right but …”
Remember that wonderful statement from George Orwell; “All animals are equal but some animals are more equal than others.” In the area of best practices, his statement translates to “All best practices are equal but some best practices are more equal than others.” Of all the best practices that you could implement, which is the “most equal”?
Time Management
It’s your time management strategy.
Everyone coming into this industry as a rookie is exactly equal to everyone else. There are no favorites. There are no hidden advantages. While personality, communication skill, drive and a whole host of intangibles do count, each rookie has exactly the same amount of time available. Those who spend it the best are more likely to go the distance than their more talented peers who squander this most precious resource.
My “best practices” time management strategy has two components: Your team determines how much time you have available. Your Model Day determines how well you spend the time your team creates for you.
The Optimum Team
In all modesty, the team structure I have designed is the best practice for building a team. There is really no other structure out there except ad hoc. I have compiled my team building articles from Research into a single white paper, available at www.billgood.com/time_management along with a Model Day Worksheet, all free for the taking.
To get you to high six and into seven figures, you need a two-and-a-half person team consisting of a full-time service assistant, full-time sales assistant and part-time computer operator.
