World Financial Group

Despite What They Say

Garth Beyer

Now is NOT the best time to become a Financial Adviser.

I have always loved hearing “Now is the greatest time to be doing *insert any career here.*” Simply because, if you believe it’s the greatest time, then it is. If you go into something thinking it will be easy, chances are it will be…hard. BUT, it will be much easier than if you go into something thinking it will be hard.

Zig always said, Positive thinking won’t let you do anything, But it will let you do everything better than negative thinking will.

Lately the biggest reference is that Now is the greatest time to start a business in this down economy. I however, have been mentally fixed on an echo of “Now is the greatest time to become a Financial Adviser!” Why? Simply because of World Financial Group/Transamerica Financial Advisers which I mention in my post The First Hand Fails: This Is How The Second Hand Succeeds In Sales

It wasn’t until the second time that I watched and listened to WFG/Transamerica’s introduction-presentation that I noticed a flaw. The flaw was in their backing of their statement, “Now is the perfect time to become a financial adviser, there has not been a more perfect time.” They began their backup of the statement by introducing a timeline of the baby boomer generation, first explaining how when the baby boomers began popping that the baby food business rocketed, then the car dealership business sky scraped when all the baby boomers started to turn 16, then real estate shot straight up when they wanted to buy their houses, and now they are saying that financial advising is going to explode because all the baby boomers are turning 65+ and need to have advisers to make sure their money lasts them until their deathbed.

Do you see the flaw? I could not stop thinking how slow minded WFG/Transamerica was in their sales presentation to not catch both their worst and biggest selling point. If you are reading this, then you know that very few baby boomers are going to seek financial advice this late in life. They have gone their entire lives without it, earned and worked hard and will not spend money to have someone else tell them how they should manage their money. With that, baby boomers are the most stubborn people on the planet . Not to mention, the baby boomers will be dyeing off soon, so how does a dead persons money get to you as a financial adviser? It doesn’t. This was one of the biggest mistakes of WFG/Transamerica.

The second biggest mistake was that they used the wrong example to really persuade people to take up a Financial Adviser career. Give me a shot, and if I don’t have you agreeing with me in just a few sentences, tell me so.

Maybe you have read that the baby boomers will be  inheriting over 11 trillion dollars over the next 20 or so years, by the time they have this money they will either definitely not want advising on it, they are going to live out their last days in glory or they won’t end up getting what they expected with the lack of funds for pensions, the failing of social security, the fact they will work until “the day they drop”, etc, the list goes on, or the last option, they will be dead by the time they receive the extra money. Which leads me to my next reasoning.

In the world of financial advising, baby boomers are a lost cause, but not my generation (Y) and the generation after (Z). They are not. They are the hot button of financial advising. We are looking at two generations of poorly money management educated groups of young adults. Plus, you take the 11 trillion dollars baby boomers are getting and roll it over the second exchange of wealth to generation Y and Z and now you will have over 22 trillion dollars being handed down.

Even more so, my generation and generation Z are scared out of our freaking minds that the economy is going to blow up and become the next great disaster – the great depression’s depression. It is in that idea (fear) that Financial Advising will be the most prominent and income enriching career in the next 5 to 15 years. For once in time, Financial Advising will be looked on as a necessity and will receive the spotlight for its educating purposes. Financial Advisers will be able to teach those who will be handling the 22+ trillion dollars how to manage it for the next 50+ years instead of teaching 65 year old’s how to manage it for 5 years.

And I will end with, So what if teaching the youth how to manage money only earns Financial Advisers a large income for 5-10 years until money management becomes a part of the learning process in school and at home? With the average rate of people only staying at their jobs for 5 years before getting a new job, I see it as a perfect way to make big $$$ in a short period of time, teach the next generations money management so the world can prosper, and move to the next career path you want to try!

Final breakdown,

  • Now is NOT the best time to be a Financial Adviser
  • In 5-15 years will be the BEST time to be a Financial Adviser which includes being a teacher, a world changer, an economy improver, and all the other hats you get to wear
  • In a world that is set on fast pace, Financial Advising will make you money quick and allow you to move on to other things that you may really be passionate about.

 

Stay Positive and Do What YOU Think Is Best, Not What Someone Else Thinks Because It Will Always Be The Perfect Time

Garth E. Beyer

 

 

 

 

The First Hand Fails: This Is How The Second Hand Succeeds In Sales

Garth Beyer

Do you want first hand experience with the philosophy and tactics of selling?

I do!     Err, I did.

Somewhere between not wanting to pay $250 dollars for a Seminar on selling and getting restless when I would read 200 pages of business/selling advice every day, I found World Financial Group. Better yet, they found me.

Side Note: Did you know that almost as many people who secondhand smoke end up with as many health problems and issues as someone who does the smoking? You can even agree that those who second-hand smoke, typically end up smoking. I never thought I could take such a terrible relationship and create an analogy out of it, but I am going to give it a puff, so read on.

The “I’m Gonna Make 500k a Year” Adrenaline Rush

It’s time to kick the adrenaline and excitement of selling out of your system. You can go to school, seminars and read as many books as you want on selling, but you still won’t be the best salesman. All that the knowledge will create is an adrenaline to sell, and when you go out to make your first few sales, you will most likely be unsuccessful>feel beat>not want to put the tad of extra effort to succeed>give up>go back to trying to be what your parents want you to be>and feel out-of-place the rest of your life. Unless…

You soak up the concept that I am going to share with you.

1. For the beginners in sales or those who simply want to learn the strategies of a salesman, this concept is perfect for you.

2. For those who are on the unsuccessful sales track that I presented above, this concept is the tad of extra effort you need to succeed in all your future sales.

3. For those who consider themselves experts in selling, congratulations on failing enough to turn your experience into something remarkable. This concept I am about to share is very much like your process — but in this concept, you don’t fail.

The concept: Become the second-hand smoker of sales.

I mentioned World Financial Group (WFG) and this will be the basis of explaining the concept you need to follow to skip failure in sales. If you have not heard of WFG they are a national seller of insurance, investments and financial advice.

I received a phone call from them about two weeks ago. The sales-field adviser in IL wanted to ask me a few questions related to my direction in life and thoughts about assisting families by providing financial advise. He told me one of my good friends recommended me for the position and he would like me to come to the office in IL for a presentation. (Remember, I live in WI now)

I thought to myself, “All the greatest leaders in history were at once involved with sales.” On top of that, if you can’t tell by the majority of the information on my website, I want to be a broker and financial advisor to families and individuals so this opportunity seemed like I could combine the two.

I went to the presentation in IL and really enjoyed the message and point of the company to help families with all financial variables, not just selling insurance. After the presentation I had a private meeting with the Field Advisor. During the meeting he began to talk more about the company and how it seemed that I would fit in and then he started asking questions about me. (Quick tip about me, when you meet me, you know immediately how much I love to talk) I began getting more excited, telling him about all my qualities that would be perfect for the company. I then started sending a torrent of questions about the company at him. I am not easily persuaded, I think things all the way through and I allow time between information intake and decision making when possible. He did not know this though…

75% of my excitement and energy came from the great position that I could place myself in, it’s a little bit of everything I want to be: My own business, financial advising, life improving, etc. The other 25% of excitement and energy came from acting like every other person that has walked through the door. (It is said WFG calls around 10,000 ‘friends of friends’ to come in and check a presentation out every month)

To shorten the rest of the story, I did not apply to become a WFG associate (yet). Instead, I wanted to check out the WI branch and see what they have to offer. To reiterate, I am going to check out the WI branch primarily because It seems like something I really want to do (75% of excitement and energy). It’s also another opportunity to learn selling techniques (25% of acting).

I Hope The Smoke Is Starting To Clear

You have just been given a very short summary of my experience. If I told you to go back and read it and tell me the selling techniques that were used on me, you could find at least 7. Don’t think so? Then let me pull them up for you.

1.  He networked. He used my friend whom I trust to gain my trust in him.

2. My friend and him had talked so he knew that I was ambitious and I made it clear when I answered his questions that I enjoyed talking about myself and my goal sand accomplishments. Quick personality background check.

3. I was recommended. Who doesn’t like knowing that they got recommended for something?

4. Presented the best qualities and mission of the company through a simple Powerpoint presentation. Exploiting the best parts of the job and not mentioning the money making aspect of it.

5. Square peg into square hole. How I fit perfectly into the picture.

6. Brought up questions the right questions. About me.

7. Answered as many questions as I threw at him (Trust me, I asked A LOT).

Multiply 7 by 3 and the Smoke Better Be Gone

7 x 3 = How many sales techniques were used in total on me. The reason I mentioned the 7 above is because that is all it took to get me in, I really wanted to become an associate (I still may). Once it was unveiled to me that the Field Advisor was selling me the position and that I was the prospect, I began playing my part even more. (25% acting). Later that evening, once my excitement began decreasing, I was able to note all that I learned from the endeavor. Once the 75% energy and interest began to dwindle, the 25% of acting started to provide me results and I discovered the other 14 selling techniques that were used on me.

Look at it like this: The field advisor is the smoker and I just got done second-hand smoking.

I knowingly and excitedly became the second-hand smoker of sales. I just learned 21 techniques of selling in one session by becoming the prospect.

Why Learn From Your Failures When You Can Be The Failure Of Others

I do not at all support the fact of purposefully creating failure for other people. I do however promote experiences that teach both parties lessons that will improve each parties talents. In this case, I provided more selling experience to the WFG Field Advisor along with clearly showing what techniques worked best. (They really did work. As I said, only 25% was acted. He was the one who inspired and excited the other 75%) As my reward for my contribution to his increase in talent and experience, I got to second-hand smoke his sales techniques.

Every mentor in “Sales” will tell you to listen to listen to CD’s on reading and understanding people, read books on connecting with people, and browse examples of successful sales. All of this is what you should already be doing, but no mentor is going to tell you to go out and become a prospect.

I am telling you otherwise.

To only study the philosophy of selling is not enough, you have to become part of the philosophy. The best way is not to go out and sell — this will lead you to learn from YOUR failures. The best way is to go out and be the one who is sold to!

You do not need to be the primary smoker… I mean seller.

Stay Positive and Inhale The Benefits of Second Hand Selling

Garth E. Beyer

Interested in the 14 other sales techniques that were used? Email me at TheGarthBox@gmail.com with the subject line Sales Techniques