Mentoring Week 4

http://www.campconnelly.com

Welcome: May 5, 2010

http://www.campconnelly.com/


www.yeattsperformance group.com

Rick’s Recap



Don’s Recap• Three things must happen if people are going to do business with you

• A Repeatable Process trumps talent

• Set reasonable goals

• Create a mission statement

• Create a marketing plan

• Create a business plan

• A little bit about prospecting

• The three rules of selling commodity-type products

• Why so few Advisors escape the curse of the bell curve



A few thoughts for today: Passion

• “To play without passion is inexcusable” - Ludwig van Beethoven

• “Great dancers are not great because of their technique. They're great because of their passion” - Martha Graham

• “The difference between a successful person and others is not a lack of strength, not a lack of knowledge, but a lack of will” - Vince Lombardi

•



Determination

• The hardest decision is deciding to get good. Once that decision is made, the rest is putting knobs on the radio. Most people just dream about being successful.

• Successful people do what unsuccessful people won’t do.

• “If you haven't the strength to impose your own terms upon life, you must accept the terms it offers you”

• - Poet T. S. Eliot



“If you don't go after what you want, you'll never have it. If you don't ask, the answer

is always no. If you don't step forward, you're always in the same place”

Nora Roberts

Toughness



“The measure of your success usually comes down to who wins the battle that rages between the two of you.

The ‘you’ who wants to stop, give up, or take it easy and the ‘you’ who chooses to beat back that which would stand in the way of your

success – complacency. “ Chris Widener, Consultant

Choice



Finally, good habits over bad • “The successful person has

the habit of doing the things failures don’t like to do. They don’t like doing them either necessarily. But their disliking is subordinated to the strength of their purpose.” - E.M Gray



The shared traits of top sales people



According to Harvard Business School

““Most people can be top sellers if they are willing to study, concentrate and focus on their performance.”

The Selling Advantage



The Eight Shared Qualities according to HBS -as reported in The Selling Advantage#1: They did not take “no” personally and allow it

to make them feel like a failure. They had high levels of confidence and self-esteem. They were not devastated by rejection.

#2: They took 100% acceptance of responsibility for results. They didn’t point the finger when times got tough. The worse things got, the harder they worked. The used negatives to their advantage.



The Eight Shared Qualities according to HBS-as reported in The Selling Advantage

#3: They had above average ambition and desire to succeed. This quality enabled them to determine proper priorities. It also determined with whom they associated and how they spent their time on and off the job.

#4: They had high levels of empathy. They were able to put themselves into their clients’ shoes and appropriately respond to their needs.




#5: They were intensely goal-oriented. They knew exactly where they were going and were able to minimize distractions.

#6: They had above average will power and determination. The always persist toward their goals.




#7: They were impeccably honest with themselves and their clients. This allows them to gain each client’s trust.

#8: They had an ability to approach strangers even if it was uncomfortable.



Today’s mission: Learn how to ….

• Make a compelling opening statement

• Address your client’s needs

• Explain the features and benefits of the solution to those needs

• Determine how they feel about the solution you are recommending

• Get all the objections on the table

• Overcome those objections

• Secure a commitment



Goal setting

Mission statement

Business plan

Marketing plan

ProspectingGetting the appointment

The presentation

Closing

Referrals

Perpetuating the

relationship

The Repeatable Process



Professional Selling Skills (PSS)



The Presentation

•Something set forth for the attention of the mind

• A descriptive or persuasive account



The Five Presentation Components

• Initial Benefit Statement

• Probing

• The Presentation

• Overcoming Objections

• Closing the Sale



Initial Benefit Statement This tells them why they should be

interested

• Begin by verifying the client’s need

• Make a general reference to the product

• Relate one product benefit to the client’s need



Probing

They like it – always support

• Restate the favorable comment

• State the importance of the product

• Refer to an additional benefit



Probing If they are resistant – never support

• Open or Closed Probe

1.Open Probe: Let them go wherever

2.Closed Probe: Very Specific



The Actual Presentation• Refer to the product we want to recommend

• Determine client’s familiarity with product

• If familiar, determine feelings toward product

• State three specific features

• Relate the benefits of those features to client’s need

• Probe for acceptance



Overcoming Objections

•Two primary reasons we get objections



Reason Number One: The client doesn’t appreciate your recommendation and needs more information

• Restate the objection in question form

• Provide the additional information he is lacking

• Introduce additional benefits



Reason Number Two: The client has a conflicting need

• Restate the objection in question form

• Introduce additional benefits that outweigh the conflicting need



Closing the Sale

• Restate the general benefits of investing in a vehicle of this nature

• Restate the specific benefits of this particular product

• Request a commitment



Homework for today’s session

Pick both a product and a typical scenario:

• Construct an Initial Benefit Statement

• State the most common objection you encounter and the words you will use to overcome it from now on

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Mentoring Week 4

Business

Transcript of Mentoring Week 4