Recently, I came across some good, practical advice from one of our top advisors. Mike R. is from Michigan and year to date he’s on pace for $21 million in FIA sales, $5 million added under management and $300,000 in target life insurance. All that while working only three days a week with clients. (He doesn’t work Fridays and reserves one day a week for strategic planning.)
One of Mike’s keys to success is his sales processes. Not just “winging it” during appointments, but making sure that he has systems built for any scenario. And it’s been huge for him. Which brings me to the practical advice; specifically, what does Mike do when a prospect doesn’t buy?
A year ago Mike met with a pair of prospects who appeared to be perfect potential clients. Things were going according to plan and everything felt in order until the low-pressure close. That’s when they said no. It didn’t make sense practically or emotionally for the clients to not hire Mike, but the bottom line was that the prospect thought he could manage their money better on his own and he wanted to take more of a market-based position than Mike was suggesting. Anyway, a year later, they came back around to do business. What changed? Why did he call Mike back?