- 7,790
IMHO I would avoid family and friends if you want to keep them happy.
Determining a Client's Needs....
- Thread starter LifeIn403b
- Start date
IMHO I would avoid family and friends if you want to keep them happy.
- 220
This makes no sense to me. From this statement you are telling me you don't do a good job and if they would work with you they would be unhappy and regretful for doing so. I have no issue working with family and friends because I know I am improving their situation. For this they are grateful not resentful.
- 1,459
Although I didn't go the family and friends route, I don't think there is anything wrong with it if done correctly. The key isn't to get their business, the key is to network through them for introductions to others. Any business they do with you is a bonus.
Chuckles, I believe you are with NML. They do a better job of getting introductions than any other organization I know of. A buddy of mine was with NML a few years back. His leads were going low, so he started cold calling business owners on the phone. The GA (managing partner) came over and hung up his phone. Saying, "that's not how we do business here." That being said, my buddy ran out of warm leads and failed out within 18 months.
I know a few who have been successful without working referred leads (I am one of them) and I do know a few who have made it work strictly working F&F and working their way out. I think the right mix is something in between. JMO.
Chuckles, I believe you are with NML. They do a better job of getting introductions than any other organization I know of. A buddy of mine was with NML a few years back. His leads were going low, so he started cold calling business owners on the phone. The GA (managing partner) came over and hung up his phone. Saying, "that's not how we do business here." That being said, my buddy ran out of warm leads and failed out within 18 months.
I know a few who have been successful without working referred leads (I am one of them) and I do know a few who have made it work strictly working F&F and working their way out. I think the right mix is something in between. JMO.
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I agree the family and friends wrought isn't the only way, but from my experience it seems to at least make it a little easier to get started. I am with NML and we do work almost exclusively on referred leads. This is very tough to do, really there is no "easy" way in this business. I feel sorry for your friend and feel the GA overreacted a bit. I still do a few non-referred calls a day. They aren't necessarily cold though as I usually try and call fellow alumni from my college that I find on LinkedIn.
Congrats on making it the way you did. I know the hard work it takes to get into this business and commend anyone that can do it. I was giving the guy what I feel is the easiest way to break into things at the start.
- 7,790
Wrought? You may mean route. IMHO it is better to avoid family and friends until you are established in the business. You won't lose family but you may lose friends.
- Thread starter
- #26
LifeIn403b
Expert
- 39
Thanks for all the replies guys. I'm excited to take some of what everyone has contributed to this thread and take it to the field.
In my teenage years, I sold Cutco knives and Kirby vaccuums, so I got pretty used to the word "NO" and every now and then rude people. But, I did learn you hear a lot of NOs before you get a yes. Plus, I'm pretty good at overcoming objections. Hell, I probably got 50 NOs before my wife finally decided to marry me...
In my teenage years, I sold Cutco knives and Kirby vaccuums, so I got pretty used to the word "NO" and every now and then rude people. But, I did learn you hear a lot of NOs before you get a yes. Plus, I'm pretty good at overcoming objections. Hell, I probably got 50 NOs before my wife finally decided to marry me...
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Briefcaseboy
Guest
Lifein403b,
When I was a teenager, I sold needle threaders. They had just come out. Buy them for .25 cents and sell them for 2.00. Go to any house, demonstrate it and you had a sale.
Back in the old days, late 50's early 60's kids sold Clover Salve and garden seeds. Remember the Fuller Brush man ? He drove a truck that looked like a UPS truck, sold brushes, cleaning products etc. I wonder if they are still in business ?
When I was a teenager, I sold needle threaders. They had just come out. Buy them for .25 cents and sell them for 2.00. Go to any house, demonstrate it and you had a sale.
Back in the old days, late 50's early 60's kids sold Clover Salve and garden seeds. Remember the Fuller Brush man ? He drove a truck that looked like a UPS truck, sold brushes, cleaning products etc. I wonder if they are still in business ?
- 1,011
Eliminate your clients debt when he or she dies
The biggest debt and asset one accumilates is their home
Get enough to cover that, and tack on more if they have children for college expenses, additional funds for surving spouse if he or she is not working.. work your way down from there
The biggest debt and asset one accumilates is their home
Get enough to cover that, and tack on more if they have children for college expenses, additional funds for surving spouse if he or she is not working.. work your way down from there
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Briefcaseboy
Guest
TPAAGENT,
Would you recommend, for instance, term life until retirement, then convert to whole life or purchase term and whole life at the same time and then just drop the term at retirement ?
Would you recommend, for instance, term life until retirement, then convert to whole life or purchase term and whole life at the same time and then just drop the term at retirement ?
- 220
Combo, you don't even want to know the cost of whole life later in life.
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