MODULE ONPLANNING AND

ORGANIZING“How to Get More Done,”

with Better Results, in Less Time.”

PLAN COOPERATIVELY

INTRODUCTION

As a PHILFIRE agent, you are NOT ONLY a professional salesman BUT ALSO a business owner. And so, ultimately, your success depends on how well you run your business. It is impossible to enjoy the rewards of your own business without accepting and living up to the responsibilities of running that business.

THE BUSINESS PLAN

Becoming a successful businessman, however, begins with a solid foundation in place, that is, having a good business plan.

GENERAL OBJECTIVES

After taking this module, you should be able to: Learn the steps necessary to develop a sound business plan of your own and use the tools other successful agents have developed;

GENERAL OBJECTIVES

Put your plan into action to become organized and productive;

GENERAL OBJECTIVES

Know where you are now, where you want to be and what you must do to get there.

SPECIFIC OBJECTIVES

Specifically, you should be able to:

Learn how to fill out properly the “My Money Needs” Form, thus further enabling you to establish realistic income goals;

Translate your money needs into how many number of sales, prospects, approaches and closing interviews you will need to conduct each week in order to reach your goal;

Learn how to use the “Weekly Plan Sheet,” the “20 Points – A – Day Checklist,” thus, further enabling you to organize your activities.

INTRODUCTION OBJECTIVES

CHAPTER 1: Developing a Good Business PlanStep 1: Determine Your Income GoalStep 2: Determine What You Need to Do to Reach Your

Income Goal

CHAPTER 2: Organizing for SuccessStep 3: Put Your Plan into ActionToolsAction Project

“How to Get More Done, with Better Results, in Less Time.”

TABLE OF CONTENTS

Chapter 1Developing a Good Business

Plan

Developing a good business plan begins by answering 3 important questions:

“Where am I now?”

Developing a Good Business Plan

“Where do I want my business to be in the next few months or years?”

Developing a Good Business Plan

“What is the best way

to get there?”

or “How can I

surely get

there?“

What is planning?

deciding in advance WHAT TO DO, HOW TO DO, and WHEN TO DO IT.

a process that helps you get more done, with better results, in less time

provides you with a map of where you want to go and the best way to get there

allows you to be in control of your business rather than be controlled by it

making a commitment to action to achieving specific objectives

Why plan?

It saves time.

It makes decision making easier.

It provides a standard to measure results.

It helps you get more done, with better results, in less time.

Characteristics of a Good Business Plan

There are written goals which are simple and easy to understand

Characteristics of a Good Business Plan / There are specific activities necessary to reach those

goals

3 Steps of Putting a Sound Business Plan Together

determine your income goal

determine what you need to

do

to reach your income

goal put your plan into action

Step 1: Determine Your Income Goal

As a businessman in your professional underwriting career with PHILFIRE, you did not have to come up with a big cash outlay to start a business. But, just like in any other business, it is important to know how much money you will need.

MY MONEY NEEDSThe first step in planning for greater success is to find out how much

income you need. MONTHLY TOTAL TOTAL MONTHLY ANNUALI. PERSONAL NEEDS

A. LIVING EXPENSESFood……………………………… _________Clothing………………………….. _________Personal Expenses…………….. _________Auto/transportation Expenses…. _________Spouses Expenses……………... _________Medical…………………………… _________Special Purchases……………… _________Others (contingency)…………… _________ P _____________ P ___________

MY MONEY NEEDS MONTHLY TOTAL TOTAL MONTHLY ANNUALI. PERSONAL NEEDS

B. FIXED EXPENSESRent or mortgage payments…_________Utilities: gas……………….….. _________Electricity …………….. ………_________Water………………….. ………_________Telephone……………………. _________Tuition fees…………………… _________Salaries – household ……….. _________Social security…………………_________Taxes…………………………..._________Others…………………………. _________ P _____________ P ___________

MY MONEY NEEDS MONTHLY TOTAL TOTAL MONTHLY ANNUALI. PERSONAL NEEDS

C. SAVINGS AND ACCUMULATIONLife insurance………………………….…_________Savings Account………….…………….. _________Debt reduction (other than mortgage)…_________Investment……...……………….. ………_________Others (contingency).……………………. _________

P __________ P __________

MY MONEY NEEDS

MONTHLY TOTAL TOTAL MONTHLY ANNUALI. PERSONAL NEEDS

D. MISCELLANEOUSChurches and Charities………………._________Club & Association Dues………….…. _________Entertainment/Theatre/Amusement… _________Club and Lodge Dues …………………_________Gifts and Services.……………………. _________Vacation……………………………….. _________Others…………………………………. ._________

P __________ P __________

MY MONEY NEEDS

MONTHLY TOTAL TOTAL MONTHLY ANNUALII. BUSINESS NEEDS

Sales advertising ……………………._________Periodicals………….………………... _________Phone, stationery, postage………… _________Business travel & auto expense……._________Secretarial Services.…………………_________Others………………………………… _________

P __________ P __________

MY MONEY NEEDS TOTAL ANNUAL

1. Total Annual Income Required …………………………….. P __________

2. Less Estimated Annual Renewal Income ..……………….. P __________ * Sub-total…....P __________3. Less other sources of income (spouse’s earnings, outside income, etc.)…………………………..P __________4. First year Commission Required for the Year………………………P__________

Converting the First Year Commission Goal into Weekly Activities – Worksheet

1. First Year Commissions Required……………………. P _______________(From My Money Needs)

2. Submitted Premium……………………………………. P _______________(Divide First-Year Commission by .45)

3. Submitted Premium/Week……………………………. P _______________(Divide Submitted Premium by 46)

4. Number of Sales/Week………………………………. P _______________(Divide Submitted Premium/Week (/5,000))

5. Number of Sales Interviews/Week………………… P _______________(Number of Sales x 3)

Converting the First Year Commission Goal into Weekly Activities – Worksheet

6. Number of Contacts/Week…………………………… P _______________

(Number of Sales x 10)

7. Number of Prospects/Week…..………………………. P _______________(Number of Sales x 20)

8. Number of Referrals/Week………………………….. P _______________(Number of Sales x 5)

9. Thirteen – Twenty Four Month Renewal Goal….. P _______________

Step 2: Determine What You Need To Do to Reach Your Income Goal

Figuring out Your Weekly Sales Activity Requirements (Action Plan)

One of the most effective business formulas to

remember to succeed as PHILFIRE Insurance agents is:

Figure out what you have to do to reach that goal

SALES = ACTIVITY + SKILLS

Calculate the number of sales you need to do each week

Daily Activity Formula

Names> Contacts> Sales Interviews> Sales> Referrals

20 10 3 1 5

Definition of Terms

Contact – an actual conversation that takes place, either face-to face or by telephone, to try to set up either a sales appointment.

Sales Interview – A face-to-face meeting where you recommend a product and try to close the sale.

Referral – name and address of an individual, provided to you by a prospect or client, who can be contacted for an appointment to discuss the purchase of life insurance.

Prospects - names and address of an individual who can be contacted for an appointment to discuss the purchase of life insurance.

Steps to follow to figure out the minimum amount of sales activity you need each week:

Step 1. Write down the Number of Sales you need to make each week. Multiply that number by your own closing ratio, or use the worksheet’s factor of 3.

Step 2. To figure out how many Contacts you need to make each week, use your own ratio or take the number of sales you need to make each week and multiply it by the worksheet’s factor of 10.

Step 3. To calculate the minimum number of names and address of Prospects/Week you will need, use your own ratio or the worksheet’s factor of 20 and multiply it by your Number of Sales/Week goal.

Step 4. Finally, write-in your weekly minimum Referral goal. On the average, you should try to get at least 5 names for each sale you make.

Number of Sales/Week1

(Divide Submitted Premium/Week by P _______

Number of Sales Interview/Week 3(Number of Sales x 3)

Number of Contacts /Week10

(Number of Sales x 20)

Number of Referrals/Week5

(Number of Sales x 5)

(13-24 Month Renewal Rate)66%

Chapter 2Organizing for Success

“While a good business plan can help you decide what you want and need to do to get it, organization is the key to actually getting it there.”

What do you do with the time you have?

Ask yourself:

“Do I often find myself saying – if only I had more time?”

“Do I find myself forgetting things?”

“Do I find myself starting each morning and ending each day with a lot of things left undone?”

“Do I find myself each morning asking – what should I do today?

Whom shall I talk to today?

IF the answers are YES to the previous questions, then better get organized with your

time.

So the problem is not time – it is not how much you have to do – but what you do with the time you have. And the only way to get the most out of time is to get organized.

The Best Kept Secret

“The best kept secret to being successful is not working more hours, but in making the hours work harder for you.”

So, the key to make the most out of your time is ORGANIZATION.

What should you do to help yourself better organized?

“Plan Your Week and Work Your Plan.”

Here are seven tips from successful agents that you can use to get more out of your time:

Do not procrastinate

Sell five or six days a week

Make appointments: 2 + 2 rule

(2 in the morning and 2 in the afternoon)

Keep records

Set priorities

Break weekly goals into daily objectives

Plan each week one week in advance

Step 3: Put Your Plan Into Action

To put your plan into action is to use a simple scheduling system and activity recording tool that works well week after week.Weekly Plan Sheet- a time management tool that gives you a snapshot of all your activities in a six-day week

It will help you:

Calculate your own personal weekly activity formula.

Organize all your weekly activity on a daily basis.

Summarize the results of all that activity

Compare your weekly results to your activity goals.

Track your year-to-date progress toward reaching your goals.

In the order of importance, there are at least eight areas in which your work should be scheduled, as follows:

2. Contacting prospects for appointments (approaches)

1. Prospecting

3. Making sales appointments

4. Conducting sales interviews

5. Conserving overdue business

6. Policy deliveries

7. Policyholder service calls

8. Record keeping

9. Study and family time

10. Planning and organizing

Uses:

1. Provides you with a minimum, non-negotiable

performance standard (“given goals”) that comes with

the job.

2. Provides you with an important diagnostic tool.

An essential activity tracking tool designed to ensure

that you are involved in a minimum number of the

kind of activities (supporter goals) needed to generate

sales.

20 Points-A-Day

Points are rewarded as follows:

Each referred lead 1 point

Each approach 1 point Each appointment kept 2 points Each seen call

2 points Each closing interview 4 points Each sales made

5 points Each annual policy review 5 points

For example, on Monday, you:

Asked for and received 3 referrals 3 points Made 5 approaches

5 points Set up 2 appointments

4 points Made 2 seen calls

4 points Conducted 1 closing interview 4 points Made 1 sale

5 points

Grand Total 25 points

20 POINTS-A-DAY CHECK LIST(WEEKLY GOAL)

AGENT: ______________________ Remember, 20 points-a-day minimum - everyday

BM: __________________________ Don’t stop, work without it!DATE: ________________________

ACTIVITY MON TUE WED THU FRI SAT SUNWEEKLY TOTAL

Referred leads1 point each

Approaches1 point each

Appointments1 point each

Seen Calls2 points each

Closing Intrvw4 points each

Annual Pol Rvw5 points each

TOTAL POINTS

No. of Sales

Annualized Premium/ANP

PLANNING & ORGANIZING TOOLS

MODULE 1

Converting the First Year Commission Goal into Weekly Activities – Worksheet

1. First Year Commission Required………………………………………………… P ___________

(From My Money Needs)

2. Submitted Premium………………………………………………………………………. P ___________

(Divide First-Year Commission by .45)

3. Submitted Premium/Week……………………………………………………………… P ___________

(Divide Submitted Premium by 46)

4. Number of Sales/Week……………………………………………………………… P ___________

(Divide Submitted Premium/Week by P__)

5. Number of Sales Interviews/Week………………………………………… P ___________

(Number of Sales x 3)

6. Number of Contracts/Week………………………………………………… ….. P ___________

(Number of Sales x 10)

7. Number of Prospects/Week …………………………………………………… P ___________

(Number of Sales x 20)

7. Number of Referrals/Week …………………………………………………… P ___________

(Number of Sales x 5)

8. Thirteen – Twenty Four Month Persistency Goal………………… P ___________%

20 POINTS-A-DAY CHECK LIST(WEEKLY GOAL)

AGENT: ______________________ Remember, 20 points-a-day minimum - everyday

BM: __________________________ Don’t stop, don’t work without it!DATE: ________________________

ACTIVITY MON TUE WED THU FRI SAT SUNWEEKLY TOTAL

Referred leads1 point each

Approaches1 point each

Appointments1 point each

Seen Calls2 points each

Closing Intrvw4 points each

Annual Pol Rvw5 points each

TOTAL POINTS

No. of Sales

Annualized Premium/ANP

Referred Lead – the name and address of a prospect given to you by a client, friend or another prospect.

Approach – a telephone or face to face effort to secure an appointment now or at a future date.

Appointment – an arrangement made in advance to meet a client or prospect at a particular time and place.

Seen Call – an appointment that actually takes places.

Closing Interview – an appointment in which two or more serious efforts are made to get the prospect to purchase a PHILFIRE Insurance policy.

Sale – a pre-paid and submitted non-life insurance application

Annual Policy Review – a review of the Annual Policy Statement together with the Quality Check-up Form.

DEFINITIONS:

ACTION PROJECT

After completing this project, you will know exactly how much income you want and need to earn for the year (or balance of the year), the amount of weekly sales activities required to reach that goal, and create a written Performance agreement with your manager to help you get started.

Directions:

Obtain a copy of the “My Money Needs.” Complete each line item according to the instructions found in this module.

CONVERSION WORK SHEET

Obtain a copy of the Conversion Worksheet. Transfer your First Year Commission Goal to line one of the worksheet. Then, follow the directions establishing both the number of sales as well as prospects, approaches, and closing interviews you will need to conduct each week in order to reach your goal.

Provides copies of your conversion worksheets to your manager. Discuss both your weekly sales goals and activity levels with him. Together create a written Performance Agreement identifying what you and your manager will do for the coming week in order to help you reach those goals.

END OF MODULE 1 PRESENTATION