YOUR NETWORK IS YOUR NETWORTH

We’ve spent a lot of time considering your goals and motives. I can’t overemphasize the importance of keeping your vision and a strong mentality with you. As we continue on into new subjects, keep your Legacy Goals in mind and read them every day. It will keep you focused and on track toward your goals and dreams.

Understanding your Market

Now that you have clear goals set, it’s time for us to get into the field. It is imperative that you can get working in your market as soon as possible. Obviously, you want to make money here. To make money, you need to get some good clients. To get clients, you have to step out of the box a little and talk to people.

You never know who might really be in need of your help, whether it be to help them towards their retirement goals or whether they feel dissatisfied with their current professional situation and are looking for a better business opportunity. At WFG, we have a great system that will allow you to be able to consistently find good clients and business partners without ever having to knock on doors or do any cold calling. In order to do this, you have to understand your market.

Your market can be divided into 4 different categories

Natural Market: This is a great market for starting out. This includes family, friends, neighbors, co-workers and colleagues, social contacts, and business contacts. We will look a little more into the Natural Market in just a bit.

Friendship Farming: This is when you form new relationships. As you make new friends, naturally these friends will want to know more about what you do. As you work at WFG you will form countless new friendships, and many of them will support you in your efforts. Some of them may even join you in this crusade.

Friendship Borrowing System: Forming new markets through a well-constructed third-party referral system. Almost everyone you work with will know someone who lives in a similar situation to themselves (Birds of a feather flock together, right?). Because of that, referrals are an extremely effective way to expand your business. As you sincerely strive to help people, they will naturally want to direct you to their friends and family.

Professional Prospecting: Utilizing strong professional networks with industries of overlapping functions. For example, estate planning attorneys, loan officers, and CPAs may often request the help of a financial advisor to meet the needs of their clients.

As I mentioned before, your natural market will definitely be the easiest place to start. In our meetings together, we have briefly talked about visiting these people together in order to assist you in your training. These visits can be extremely effective in launching your business toward the success that you imagined in your business plan! The sooner you begin to complete these appointments and do as many of them as you can, the sooner you can expect to make money and begin to see great things happen in your business.

So who do we visit? The best answer to this question is another question. If you went to a great restaurant or saw a great movie who would you tell if you got the chance? In most cases your friends, family, and maybe even old co-workers. You can think of neighbors, past teachers, or even someone you heard about that’s in need of financial help. In reality, you should at least consider talking to every person that you can possibly think of.

Again, you never know who might be looking for you and for the services and opportunities that WFG provides! Try your best to resist the tendency to deny someone the opportunity because you think they may not like it, they might be too busy, or they already make too much money. Even if they aren’t interested, you never know if they have a few friends that have been waiting for help!

You should begin by creating a list of 100 people in your natural market. There is a format attached in the Fast Start Packet in which you can write those names and phone numbers. Just like your top 10, you should try your best to find people that fit our M.A.C.H.O.E.D. acronym. As a review, M.A.C.H.O.E.D. means:

M: Married

A: Age 25 or older

C: Children

H: Home Owners

O: Occupation paying $40k/year or more

E: Entrepreneurial

D: Dissatisfied

The more you talk to people that fit these criteria, the more success you will find and the more you will enjoy what you do. These kinds of people tend to take their financial futures more seriously. There are occasional 20-year-old youngsters that’ll do some good work, but for the most part, they don’t have enough money to begin any sort of savings plan and they usually aren’t too interested in doing so.

Focusing on M.A.C.H.O.E.D. markets also allows for much more stability in your business, and allows you to have more opportunities to get in contact with the kind of clients and business partners that will make your business really take off!

Writing these 100 names shouldn’t take longer than an hour. Next time we meet, we will look a little deeper into these names and we’ll talk a little bit more about the next steps to take. Again, the sooner you finish this list and get yourself onto some training appointments, the more you set yourself up for success in this business!

Review

Now you know how to get started in your market! Remember to include anyone that fits in the M.A.C.H.O.E.D. standard into your list! You won’t regret it. Next time we meet, we’ll talk a little more about these people and take the steps necessary to get you into the field training appointments.

It’s always exciting to be working in the field! You can be confident that these people will appreciate your service. They will appreciate that you thought of them and offered this tremendous opportunity. Remember that the minimum standard of success for new associates is 5-5-30.

Your field training appointments can be a very effective way to make that happen! If you plan on building a multi-million dollar business empire here, do at least 10 field training appointments in the next week.

You won’t regret it!