Intro to System
Your ability to duplicate yourself will determine whether you will remain an employee or become a business owner.
Charting Your Course To Success
Your goals are likely big… enormous even… and that’s a great thing. The pathway to obtaining those goals will require extensive personal growth and the development of a number of skills you may not currently have. Be excited about that! It means you will be one of the few people in the world who took the time to develop themselves, and in so doing, accomplish only those things to which world-class leaders can lay claim.
With all that being said, the company has done a phenomenal job at not making it your responsibility to simply ‘figure it out.’ In fact, it’s quite the opposite. The most successful people in our company aren’t paid exorbitantly well because they are great at ‘creating’ businesses built around their personalities. Instead, they are fantastic at duplicating the existing model! Be coachable and willing to test things thoroughly before assuming they will or won’t work.
Let’s discuss each section of the Business Format System very Briefly. But know you will need the actual manual to more thoroughly study and implement each of the different facets of the system in your own business.
The Business Format System
I think sometimes it’s easiest to understand the system by reverse engineering your ultimate goals here. For the most part, almost every single person I’ve ever talked to has a desire to live a great lifestyle at some point in their life. That means you need a LOT of income without the necessity of always having to work for it. Otherwise, you have money, but no time to spend it with the people you love, doing the things you love to do. Let’s talk about what it takes to create the circumstances where that can be possible.
In our business it looks like this:
Goal=Lifestyle
Lifestyle Requires Income & Time
Income & Time Requires New Clients
New Clients Require Presentations to Potential Clients
Presentations Require Appointments Set
Appointments Set Require Prospects Called
Prospects Called Require Lists of Prospects to Call
Lists of Prospects to Call Require Prospecting
Pretty simple right? To reach the end, you must start at the beginning. So let’s start with the beginning, step one, the prospect.
Step 1 – Prospect
This step is simple really. I am not going to go into GREAT depth on each of the major points here, as I want you to spend some time in the manual and a LOT of time in the field practicing. This will at least provide a brief overview.
Frankly, you must – and I repeat – MUST get good at this section if you want to be successful in any capacity here. Prospecting is the most basic element of the progression to lifestyle as I covered above. As a review these are the 4 basic categories of prospects:
1- Natural Market – This is the act of simply reaching out to those you know. Seek training, exposure, and referrals as a result of your interactions. We generally recommend using the E.T.H.O.R. script for setting up appointments here.
2- Friendship Farming – This is a very rewarding skill to develop as relationships enrich our lives! This is simply speaking with strangers and turning them into friends. Notice the objective here is turning them into friends, NOT business partners or clients. That may be a natural byproduct of this section, but NOT the goal. Just get the name and the number.
3- Friendship Borrowing – This is the tried and true method for getting referrals. Get good at simply asking for them. We can train MUCH more extensively on this later, but remember, as part of the upfront contract with every new client comes a list of 10 new names & numbers of families to help.
4- Professional Prospecting – Ask friends and family “who do you know that is a great CPA, Loan Officer, Real Estate Agent, Estate Planning Attorney, etc… as these career paths overlap our industry extensively. As a result, you can often create strong mutually beneficial arrangements for each other as well as your clients.
Step 2 – Approach and Contact
Now that you have the name, you have to make the call! One of the most important skills you will EVER learn here is the ability to set up an appointment.
Every call to one of your prospects should be brief and to the point. Open your Additional Info Packet provided on the home page, and you will see multiple scripts designed to help you set those appointments. I know it’s tempting to ‘say your own thing’ – and by no means am I suggesting you be and sound like a robot – but if you want your lifestyle long-term you’ll want to get really good at using those scripts.
I’ll explain later in step 6. And DO NOT be afraid to fail! It’s OK that you mumble or bobble up your words from time to time. You’ll never get good unless you fail faster.
Step 3 – Presentation
Now that your appointments are getting set, you may want to learn how to actually present the information. I will tell you right now though, that the absolute BEST way to get results quickly, is to get your guests on to the Zoom Financial Workshop instead of you trying to set it up for you and a trainer to meet 1-on-1. Even in those appointments, the goal is to get them to attend a Zoom Financial Workshop.
The flipside to that though, is that you aren’t the one presenting and you MUST learn this presentation quickly. So do both! Make the initial invitation to the Zoom Financial Workshop 99% of the time and then for those who simply cannot make it on that, fall back to the 1-on-1, in-person, or zoom meetings (sometimes called the KTP or Kitchen Table Presentation-style appointment).
You can view the First Presentation on the Home Page or by going to the Presentation page of the main site. There are also a few recordings of leaders completing the First Presentation to guide you through every discussion you’ll have with a client the first time sitting down with them. These can be viewed through the Orientation Page > Presentation & Scripts Course
I suggest you get familiar with this presentation as soon as possible. Our objective is for you to have the confidence in completing at least the Frist Presentation with clients following your first 10 training appointments.
Step 4 – Follow Up
This is where so many people drop the ball. Just because you had a great first appointment doesn’t mean the client is going to take the initiative to jump through all the hoops necessary to launch their investment or life insurance. It’s up to you to control the point of contact and move the client through that process. Don’t worry too much about this right now, as it’s the trainer’s responsibility to drive this process, but you certainly need to know about it and should bug the trainer to make sure he/she is driving this process.
Step 5 – Start-Up
These last two steps pertain specifically to new business partners. A slow start for your new associates will almost certainly lead to ‘business fatality’. Which is a massive waste of time and energy for you and them. Make sure you get off to (and get them off to) a fast start and provide adequate information and direction to get moving quickly. Again, all of these should be studied in much greater depth with the actual Manual and should be regularly seen in the field with your trainer.
Step 6 – Duplication
Now, this is where the magic happens. Duplication is what creates the vast majority of your lifestyle. You can go out and make a decent income selling a LOT of different things, but it’s your ability to effectively replace yourself that creates a true lifestyle.
Think of it this way. If you were to start your own restaurant tomorrow, you are basically EVERYONE (Chief Cook, Chief Cashier, Chief EVERYTHING). It’s stressful but fun because it’s yours and you know it. But if you really want to enjoy the fact that you now own your own business, you better eventually start replacing each ‘version’ of yourself in that restaurant, otherwise, you will not only will you burn out, but you may create a jaded perspective on running your own business forever! A great book that teaches this concept well is called “The E-Myth Revisited”. You need to hire, train and develop a chef, cashier, and whatever another integral piece of the puzzle is necessary for you to win in that way.
Here it is no different. You will launch out of the gate excited to learn and grow, but just know you won’t really obtain that level of lifestyle you seek until you can replace or duplicate yourself over and over again. And eventually, when you’ve done that, you’ll turn around and wonder why you waited so long to do it. So, as I mentioned above, stay scripted as it is a far more effective approach to duplicating yourself quickly. Personality can be incredibly challenging to duplicate.
Conclusion
As usual, I know this can be overwhelming at the sheer amount of data you are trying to process. However, If you are hungry to advance and have already completed the previous homework, then listen to Monte’s talk on building a big base shop.
MONTE’S TALK
Next time we sit down, let me know how it’s coming along! You have what it takes to win here. Make the decision to make today, right now, your time to win! Learn to run the system like clockwork, and like clockwork, the results will follow.