If you want to be successful in any sales industry, there are a few things that you need to look for to make this happen. I am a firm believer that in any sales career there are certain things that are needed to be successful.
A. Clear Model
Our model is business financial planning. Only business financial planning. We use Financial Four Square as our planning software, and every client’s information goes on this model. We have a team of specialists to do the things we are not experts in, and we work as a single unit.
B. Easy to communicate.
Your clients must be able to understand exactly what you are selling. I am selling business financial planning. “I have a model that we created because it did not exist before now. We can use this model to find mistakes that could cripple your business. If we can fix these mistakes and put capital back into your business or personal pocket, then would you want to see what that looks like?”
C. High Demand
You do not want to sell a product or service that is on every street corner. There are 6.9 million business owners in America. There are only a handful of people that do exactly what we are doing.
D. Support
You are going to need a support staff. If you do not have one, use mine.
E. Replicate
Can you do the same thing over and over? We do build custom plans, but our presentation is the same every time. Walking in to see a business owner for the first time can be tough. Research the company before the first meeting. Use marketing material to explain to the business owner exactly what you do and describe the team that you have collaborating with you even if they are not
present. You are not a lone eagle! Replicate the process until it becomes second nature. The business planning knowledge with get there in time.
Chapter 4: The Model
a. Image
Represent yourself as a business financial consultant. Look the part. Dress professional. Create professional marketing material which we have developed. Create a brand so that people know what you do when they see you and your name. Be brand Specific.
b. Current position
Know exactly where you are in your career. Know what you can and cannot do. Let people do the things that you cannot do. Do not try to reinvent the wheel. If you are not an expert in the business planning world, then that is ok. Surround yourself with a team that is highly skilled and can help you make money.
c. Solutions
We have spent tons of money building the Financial Four-Square software. It has taken decades to create, and it is only getting better. Learn it and use it. Surround yourself with teammates who understand the process. Let them make you money. Be the quarterback.
Chapter 5: Market Overview
a. Number of business owners
6.9 million business owners.
b. Amount of revenue generated.
5.9 trillion dollars generated in revenue.
c. Competitors
Less than 10 business planning firms in the country today.
Chapter 6: Failure Rate
a. 80% of all businesses fail by the 10th year.
b. 20% of businesses fail in the first 12 months.
c. By the 5th year 50% of businesses have failed.
I am 99% sure that most businesses do not set out to fail. Many times, businessowners even hang on a little too long. So, the dedication is usually there. I also believe that most business owners are skilled at their particular craft. They could be a dentist, a
plumber, a hair stylist, or anything else. They may not be particularly good at bookkeeping, or employee benefits, or taxes. If this is the case, then how do business owners make decisions? Who do they turn to? They turn to their CPA or their attorney possibly. CPA’s and attorneys are good with taxes and law, but they typically are not good with insurance products, and this is ok. Insurance agents are not typically good with taxes and law. It is not what they are trained to do. I once had a CPA tell me that he does not need an insurance license to give insurance advice, because legally he is exempt from being licensed. I agreed with him, but he is not exempt from a lawsuit from giving wrong advice. The moral to the story is, stay in your lane. This is exactly what is wrong with the financial services industry. There is bad advice being given from advisors who are not qualified in other specialties. Do what you are an expert in and surround yourself with the people that you need to do the things that you cannot and aren’t good at. It takes a team working together to really outperform your competition. My team consists of accountants, legal advisors, insurance agents, and investment advisors. Inside this model, I have a team of specialists. Tax specialists, Property &
Casualty Specialists, Life insurance Specialists, Disability Insurance Specialists, Retirement Plan Specialists, Health Insurance Specialists, Legal Advisors, Investment Advisors, and myself “the quarterback.” Someone must make sure that all of these
specialties are working in the best interest of the client, and products become part of an overall strategy. This is where the Financial Four Square software comes in.
