Today’s kids just aren’t motivated. We have spoiled and coddled them. They don’t have drive, and can’t deal with competition.

Yeah, right.

Yesterday Missy Franklin put an exclamation point on her first world swimming championships in Shanghai.  She won five medals in all — two golds and a silver in relays as well as a gold medal in the 200 back, and a bronze in the 50-meter backstroke. Her performance put Michael Phelps meet – which was outstanding – into the second paragraph of news articles. Phelps was quoted as saying, “She does it all… she’ll remember this for a long time.”

Did I mention Missy Franklin is only 16?

Missy teaches us some wonderful lessons. You are never too young (or too old) to realize big dreams, but those dreams come with a price! During the broadcast, the commentators from NBC mused about the influence of Franklin’s coach, Todd Schmitz. Schmitz taught his young swimmer that when you practice, it is similar to making deposits in the bank. You keep making deposits whenever you practice, and you equate the amount of the deposit to the quality of the practice. When you compete, you get to withdraw everything you have deposited!

Apply this to your business. How can you make “deposits” into your business? What can you “practice” that will result in significant withdrawals in the future? Consider practicing:

• Exceptional Service
• Keeping Promises
• Presentation & Delivery
• Staff Empowerment & Development
• A Never-Ending Commitment to Improvement & Excellence

Congratulations, Missy Franklin. Thank you for your inspiration, and best wishes for continued success, and a long and happy life.

And to you…

Good Selling!

Wholesaler utilization continues to be a never-ending topic of discussion. Professional advisors seek new ways to partner with quality wholesalers and wholesaling companies, and the wholesalers also look for ways to differentiate themselves. There are a number of successful strategies for wholesaler utilization, including “5/60 Events (TM).”

A wholesaler comes to you with an idea you feel merits attention by a number of your clients. You have decisions to make. Do you:

• Present the idea to one client at a time at reviews?
• Conduct a large seminar?
• Do a mailing?

Consider a “5/60 Event.” Contacting clients one by one is a long process, and labor intensive. Seminars can be expensive and are also labor intensive. All of us know the challenges with large mailings, and quality advisors often prefer a more personal approach. A 5/60 Event involves inviting five, (yes, only five) clients/prospects to a luncheon, breakfast, or coffee to hear an idea of interest. The time commitment is 60 minutes, and the small number of attendees allows for prompt, professional follow up. A 5/60 Event is economical, efficient, and effective. You and your staff avoid the challenges of complex meeting planning, and the small number of invitees provides a wonderful forum for idea sharing and relationship development. The wholesaler presents and participates in the cost of the event. Simple!

How many wholesalers call upon you with quality ideas? What if you did monthly 5/60 Events? What if you opened accounts with just a third of those who attend? What would that do for your business? Consider building 5/60 Events into your Q4 Marketing Plan.

Good selling!

Client reviews are sometimes difficult to schedule. The client says something like, “Well, no need to get together. We are happy where we are.” We assume that means they are “satisfied” – and we are right. However, satisfied clients are not necessarily loyal clients. Maybe we need to examine our review process. Maybe, just maybe, the client does not see the value of sitting down for a review. Maybe the problem is us; we don’t really provide a quality review! Many advisors consider a review to be a time to simply go over account statements, increase positions, and sell additional services.

One of the biggest constraints you face when making any presentation is a limited amount of time to get your point across. You have to deliver your information as efficiently as possible, and address everything you can in the time you have. Your goal isn’t to make listeners instant experts on the subject but to include as much information as they can effectively process. Keep the following pointers in mind, both during your preparation phase and while you’re conduction the review.

1.    Know Your Client. Knowing your clients well helps you determine how best to help them quickly, based on what they want and need to learn. Ask yourself: Who is this person, and do I not know about them?  What’s most important to them? How does your information help them? Don’t worry about your needs; focus on the review from their perspective.
2.    Prepare Carefully. A quality client review begins with a tight, succinct agenda; utilizing an organized, logical process which is goal-attainment. Use a standard meeting agenda. Keep everything as simple and straightforward as possible, supporting your message with facts, without being overly technical.
3.    Broaden Your Appeal. To maximize information transfer, you have to appeal to the basic types of learners. Build your review around their preferred method of gathering, sharing, and organizing information. Some people want the bottom line. Others want detail. Some like visual communication tools, while others are verbal. Know your clients’ communication styles.
4.    Use Effective Visuals. Speaking of visuals, the old saying that a picture is worth a thousand words may be a cliché, but that doesn’t mean it’s untrue. Charts, graphs, and props can add immeasurably to your ability to get your message across, but only if they’re easy to read and easily grasped. Graphics are especially useful for quickly presenting statistical measures and numeric indicators, in order to get your points across. As with your words, though, they need to be concise.

Examine your review process, and consider how you can make it more effective. This pays dividends for the client and for you.

Good selling!