Every salesperson or agent dreams of becoming a millionaire. One individual was able to become a multi-millionaire insurance salesperson.
Half of the insurance agents who are recruited make less than $50,000 before they can start a business. How do you make a million bucks? Particularly if your job involves selling insurance. It wasn’t by working 70 hours per week. I was not inspired by any “get rich quick” insurance trade magazine article. I can’t recall ever working with millionaire clients. It would have taken a lot of policies in my case to collect a million dollars worth of premiums, and even more commissions. I have never received any of the more than 90 insurance designations that are currently available.
My case was about creating a formula that you could easily mix (with effort) to produce similar or better results. The ingredients consisted of four components for me.
WILLPOWER It is important to believe that I can achieve the insurance production goals that I set. I started by buying a series of books about positive thinking. They emphasize phrases such as “I Can” or “I Will” in them. These key words were repeated over and over again in my conscious mind and I noticed a steady increase in my sales success. It’s not enough.
Instantly, I was introduced to selfhypnosis. My insurance career changed dramatically. This was not a occult form hocus-pocus, but pure enrichment that builds upon itself. It all started with an English hypnotist client. I was fascinated and he offered to show me how the subconscious mind overrides my conscious mind. Then he graciously showed me how to hypnotize myself whenever I wanted. I set myself up for success and it was a success.
SALES SKILLS I was taught by insurance companies that my selling skills were not very good. It was easy to see that a bad habit can be dangerous for your career. As my income was increasing, I added another layer of dynamite in order to reach sales goals quicker. It was easy to double my closing ratio and see my income double.
I took the Dale Carnegie course to help salespeople. This course taught me the essential steps to follow if you want to make a sale. The surprise was when I learned that the course would require a presentation of two minutes or less to pass. This was when I realized a trait I had not used enough of came back to me.
DETERMINATION I set myself a goal beyond just passing the course. Despite the fact that there were only 25 students taking the course, it was a challenge I was determined to conquer. My presentation was voted the best among my fellow professional salespeople. It took determination, sales skills, willpower and willpower to win. I felt like I was floating high after winning. I felt like I could sell snow for an Eskimo.
NO FEAR I must admit that I was afraid when I first started selling insurance. To prove that I had no fear, it took me three ingredients and one more step. I had to try what no one else was able to financially succeed in doing. It was to sell, breaking all the rules and doing things that “experts” thought would only be possible with fools. My briefcase would be replaced by a yellow pad and a folder. My suit and tie would remain for funerals. I would keep my casual dress code simple, but elegant. Now, I was ready for my no fear test.
I didn’t set up a single appointment so I just knocked on the door of my prospects and did a brief presentation. If I had to close the conversation, I programmed myself so that I would act casually and use a “well maybe you can’t afford” approach. Knowing that most prospects are ready to hear that they can afford it, I was able to program myself to do so. The opposite effect would change their consciousness process.
My goal was to be the best. I started on Monday morning, and worked no evenings. I was self-hypnotized at the beginning and had about 50 prospect cards. Some of these were “leads”. We are talking about 30 years ago. Without appointments, I saw 25 prospects and closed 30 sales of all sizes. There was not a single sale. I had over $20,000 in premium, much of which was in annual cash payments. I decided to stop at $12,000 in commissions. In just four days, I was able to accomplish my goals. You can brake with a well-rounded, effective formula.
My FIRST MILLION was made then very easily. My success was based on breaking all the rules. Although my average policy size wasn’t huge, my closing ratio was amazing. I didn’t wear a suit, tie, or have a briefcase. My cars were new Mustangs and Camaros, so I stopped wasting my time trying to find appointments.
Programming yourself to reach a goal is dangerous. You are certain to reach it. Before you apply self-hypnosis to your mind, consider if it is healthy for your body and mind to do what it takes.
Do the opposite of what most insurance salespeople do to become multi-million dollar salesmen. Your own prospecting techniques, presentation skills, and closing tricks. Making an insurance sale is easier if you are familiar with the process and have the sales skills to support it.
It was my way. You can, too.
Don Yerke is a published author who likes to focus on the things you don’t know and what no one else dares print. It’s okay to tell it as it is.
His new paperback book will be available on Amazon in the spring. This book is full of great information about insurance marketing and recruitment.
