Mentoring Week 6

http://www.campconnelly.com

Welcome

http://www.campconnelly.com/


www.yeattsperformance group.com

Rick’s Recap



Today’s Objective

Using stories

and analogies to keep it

simple



What’s the most popular flavor of ice cream in the world?



Your job is to influence and persuade. The higher up the economic chain you dare to go, the more money you will make.

If everyone understood everything you said, you would be the richest person on earth.

Become an effective storyteller. The whole world loves a story teller.

Keep it simple. Simple is beautiful. Simplistic is naïve.

Vanilla, vanilla, vanilla



Vanilla

• I believe more in the scissors than I do in the pencil. Truman Capote

• Broadly speaking, the short words are the best, and the old words when short are best of all. Winston Churchill

• Storytelling is the most powerful way to put ideas into the world today. Robert McAfee Brown



Let me tell you a story about Camden, Maine



Moral?

• I understand that my definition of outstanding service is not as important as your definition of outstanding service



Let me tell you a story about Wayne



Moral?• We look for solutions that work



Let me tell you a story about a day in the life of a typical American



General Electric



Kraft



Caterpillar



Dupont



United Technologies



Verizon



Travelers



Microsoft



Would you have Invested?



Cisco



Lunch all across America!



JP Morgan Chase



3M



Johnson & Johnson



Merck



American Express



Boeing



WALMART



Walt Disney



Moral? A share of stock is not a lottery ticket.



Let me tell you a story about my role as your Financial Advisor



Moral?



How Far to Your Home?



Moral?



TopTier Advisors

Make Excellent Use

of Stories And Analogies



Morgan Stanley’s website

•“In general, the longer a bond's maturity, the higher its yield. Longer-term bonds are exposed to more market volatility and price fluctuations prior to maturity than shorter-term bonds. Thus, typically long-term bond investors are compensated with higher yields in exchange for this market risk exposure.”



My friend Bim

•“You date a CD. You marry a bond.”



Investopedia.com

•“Identifying areas where the price of an underlying asset has been unjustifiably pushed to extremely low levels is the main goal of many technical indicators such as the relative strength index, the stochastic oscillator, the moving average convergence divergence and the money flow index.”



My friend Paul

•“As the stock market is being pushed lower and lower by bad news, picture a beach ball being pushed underwater. The further you push it down, the higher it goes when you let go.”



Wells Fargo’s website• Organize your retirement resources - If you have a number of

retirement accounts at multiple financial institutions, it may make sense to consolidate them.

• Understand your income needs - Be sure to consider increasing costs (due to inflation) when you figure out how much annual income you will need.

• Manage your risk - Saving a portion of your assets in stocks may provide the growth potential necessary to outpace inflation.

• Create your retirement paycheck - Consider the effects of inflation, market volatility and income taxes when you’re deciding how to withdraw funds.



My mentor

• “Did you pay more for your last car than your first house.” If so, that’s why you need to buy equities.”



Simple Sales Stories & Analogies



Buying Low

The Acapulco cliff divers

Tuna Fish

Brick through the window

The sale at Nordstrom’s



Diversification

Fifty pencils

90% in one stock?

Women’s shoes

Three lanes of traffic

Three fire trucks

The tool box

Not just a pencil



Dollar Cost Averaging

Investing your money is like buying seasonal clothing



Fees and Commissions

$250 fee from doctor

Commission conscience or results conscience



Gathering Assets

You can’t have two accounts



“I want to think it over”Sixty miles in one hour

Tailor’s measuring tape

Draw a clock



Life Insurance

Two checks



Long Term PerspectiveDOB, HS graduation date, wedding date

Strawberry plants

Driving from San Francisco to New York

Did you brush your teeth today?

If you’re 49 years old . . .

The Litany of Disaster



Managing Client Expectations

The beach ball under water

Q + T & D = R/W

10% = one stride

The textile mill owner

If cheaper, shall I call you?

Soar & plunge



Overcoming Objections

There are only three objections you can get



Tax Advantaged Investments

Barack Obama cutout

The perfect investment

Paper or plastic

Tree too close to the house



Why do I Need You?

Airline pilot story

Kernel of corn

Compass and map

Only three people can make a decision

Monthly haircuts

Buying groceries at random



My Next Session

•Prospecting ideas

•Moving past unprofitable clients



Today’s Homework

Send me your

best analogy

!!



• THE END?

•

67


Mentoring Week 6

Economy & Finance

Transcript of Mentoring Week 6