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Mentoring Week 4


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Presentation that accompanies the FOURTH Yeatts-Connelly Mentoring call.

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Mentoring Week 4

  1. 1. Welcome: May 5, 2010<br />
  2. 2. www.yeattsperformance<br />Rick’s Recap<br />
  3. 3. Don’s Recap<br />Three things must happen if people are going to do business with you<br />A Repeatable Process trumps talent<br />Set reasonable goals<br />Create a mission statement<br />Create a marketing plan<br />Create a business plan<br />A little bit about prospecting<br />The three rules of selling commodity-type products<br />Why so few Advisors escape the curse of the bell curve<br />
  4. 4. A few thoughts for today: Passion<br />“To play without passion is inexcusable” - Ludwig van Beethoven<br />“Great dancers are not great because of their technique. They're great because of their passion” - Martha Graham<br />“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<br /> <br />
  5. 5. Determination<br />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.<br />Successful people do what unsuccessful people won’t do.<br />“If you haven't the strength to impose your own terms upon life, you must accept the terms it offers you”<br /> - Poet T. S. Eliot<br />
  6. 6. Toughness<br />“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”<br /> Nora Roberts<br />
  7. 7. Choice<br />“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. “ <br />Chris Widener, Consultant<br /> <br />
  8. 8. Finally, good habits over bad <br />“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<br />
  9. 9. The shared traits of top sales people<br />
  10. 10. According to Harvard Business School<br />“Most people can be top sellers if they are willing to study, concentrate and focus on their performance.”<br />The Selling Advantage<br />“<br />
  11. 11. The Eight Shared Qualities according to HBS -as reported in The Selling Advantage<br />#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.<br />#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.<br />
  12. 12. The Eight Shared Qualities according to HBS-as reported in The Selling Advantage<br />#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. <br />#4: They had high levels of empathy. They were able to put themselves into their clients’ shoes and appropriately respond to their needs. <br />
  13. 13. The Eight Shared Qualities according to HBS-as reported in The Selling Advantage<br />#5: They were intensely goal-oriented. They knew exactly where they were going and were able to minimize distractions. <br />#6: They had above average will power and determination. The always persist toward their goals. <br />
  14. 14. The Eight Shared Qualities according to HBS-as reported in The Selling Advantage<br />#7: They were impeccably honest with themselves and their clients. This allows them to gain each client’s trust. <br />#8: They had an ability to approach strangers even if it was uncomfortable. <br />
  15. 15. Today’s mission: Learn how to …. <br />Make a compelling opening statement<br />Address your client’s needs<br />Explain the features and benefits of the solution to those needs<br />Determine how they feel about the solution you are recommending<br />Get all the objections on the table<br />Overcome those objections<br />Secure a commitment<br />
  16. 16. The Repeatable Process<br />
  17. 17. Professional Selling Skills (PSS)<br />
  18. 18. The Presentation<br />Something set forth for the attention of the mind<br /> A descriptive or persuasive account <br />
  19. 19. The Five Presentation Components<br /><ul><li>Initial Benefit Statement
  20. 20. Probing
  21. 21. The Presentation
  22. 22. Overcoming Objections
  23. 23. Closing the Sale </li></li></ul><li> Initial Benefit Statement<br /> This tells them why they should be interested <br /><ul><li>Begin by verifying the client’s need
  24. 24. Make a general reference to the product
  25. 25. Relate one product benefit to the client’s need</li></li></ul><li> Probing<br />They like it – always support<br /><ul><li>Restate the favorable comment
  26. 26. State the importance of the product
  27. 27. Refer to an additional benefit</li></li></ul><li> Probing<br />If they are resistant – never support<br />Open or Closed Probe<br />Open Probe: Let them go wherever<br />Closed Probe: Very Specific<br />
  28. 28. The Actual Presentation<br /><ul><li>Refer to the product we want to recommend
  29. 29. Determine client’s familiarity with product
  30. 30. If familiar, determine feelings toward product
  31. 31. State three specific features
  32. 32. Relate the benefits of those features to client’s need
  33. 33. Probe for acceptance</li></li></ul><li>Overcoming Objections<br />Two primary reasons we get objections<br />
  34. 34. Reason Number One: The client doesn’t appreciate your recommendation and needs more information<br /><ul><li>Restate the objection in question form
  35. 35. Provide the additional information he is lacking
  36. 36. Introduce additional benefits </li></li></ul><li> Reason Number Two: The client has a conflicting need <br /><ul><li>Restate the objection in question form
  37. 37. Introduce additional benefits that outweigh the conflicting need</li></li></ul><li> Closing the Sale<br /><ul><li>Restate the general benefits of investing in a vehicle of this nature
  38. 38. Restate the specific benefits of this particular product
  39. 39. Request a commitment</li></li></ul><li> Homework for today’s session<br />Pick both a product and a typical scenario:<br /><ul><li> Construct an Initial Benefit Statement
  40. 40. State the most common objection you encounter and the words you will use to overcome it from now on</li></ul><br /><br />