mentoring week 2
DESCRIPTION
This slide presentation accompanied the Don Connelly and Rick Yeatts week two mentoring call.TRANSCRIPT
![Page 2: Mentoring week 2](https://reader037.vdocuments.mx/reader037/viewer/2022103110/54b67d484a79590b548b4569/html5/thumbnails/2.jpg)
http://www.campconnelly.com
“Business is not financial science, it’s about trading. . . Buying and selling. It’s about creating a product or service so good that people will pay for it.” Anita Roddick
Everyone on this call is running a business
![Page 3: Mentoring week 2](https://reader037.vdocuments.mx/reader037/viewer/2022103110/54b67d484a79590b548b4569/html5/thumbnails/3.jpg)
http://www.campconnelly.com
MY MISSION STATEMENT
To instill in Financial Services professionals the belief that they are capable of achieving excellence at the art of selling and the art of communication; and the confidence to strive to do so
![Page 4: Mentoring week 2](https://reader037.vdocuments.mx/reader037/viewer/2022103110/54b67d484a79590b548b4569/html5/thumbnails/4.jpg)
http://www.campconnelly.com
Excellence is simply doing the ordinary things extraordinarily well
![Page 5: Mentoring week 2](https://reader037.vdocuments.mx/reader037/viewer/2022103110/54b67d484a79590b548b4569/html5/thumbnails/5.jpg)
http://www.campconnelly.com
“If you want excellence, you can get there today. As of this second, quit doing less-than-excellent work.” Thomas J. Watson Sr.
![Page 6: Mentoring week 2](https://reader037.vdocuments.mx/reader037/viewer/2022103110/54b67d484a79590b548b4569/html5/thumbnails/6.jpg)
http://www.campconnelly.com
Ours is a simple business
Life is really simple, but we insist on making it complicated. ~Confucius
![Page 7: Mentoring week 2](https://reader037.vdocuments.mx/reader037/viewer/2022103110/54b67d484a79590b548b4569/html5/thumbnails/7.jpg)
http://www.campconnelly.com
Three things must happen if people are going to do business with you.
They must like you
They must trust you
They must feel what you are offering fits their needs
Tell me what I’m missing
![Page 8: Mentoring week 2](https://reader037.vdocuments.mx/reader037/viewer/2022103110/54b67d484a79590b548b4569/html5/thumbnails/8.jpg)
http://www.campconnelly.com
A few truths (of many) about achieving excellence
Talent is overrated. You win with a repeatable process. There are no outliers
You must forever stick to three rules
You must master and stick to the basics
You can be successful without talent. You cannot be successful without hard work
![Page 9: Mentoring week 2](https://reader037.vdocuments.mx/reader037/viewer/2022103110/54b67d484a79590b548b4569/html5/thumbnails/9.jpg)
http://www.campconnelly.com
Truth: Talent is overrated. There are no outliers
![Page 10: Mentoring week 2](https://reader037.vdocuments.mx/reader037/viewer/2022103110/54b67d484a79590b548b4569/html5/thumbnails/10.jpg)
http://www.campconnelly.com
The Repeatable Process
Mastering the basics and doing them over and over again every day breeds consistency
In golf, consistency means a repeatable swing. A repeatable swing means predictable results
Predictable results mean money, fame and fortune in any profession
Phil Mickelson is the greatest left-handed golfer of all time
![Page 12: Mentoring week 2](https://reader037.vdocuments.mx/reader037/viewer/2022103110/54b67d484a79590b548b4569/html5/thumbnails/12.jpg)
http://www.campconnelly.com
Phil MickelsonBorn 1970
Began hitting balls at 18 months old
Tried to run away from home at age 3 because his parents said he was too young to play golf with his father. His neighbors steered him around the block and back home
Declared at age 9 that he would one day win the Masters
As a boy, bribed his neighbors to drive him to the golf course
Won 34 San Diego Junior Golf Association titles
Three time individual NCAA champion at Arizona State
Finally won his first Major in 2004, after more than thirty two years of constant practice and competition!!
![Page 13: Mentoring week 2](https://reader037.vdocuments.mx/reader037/viewer/2022103110/54b67d484a79590b548b4569/html5/thumbnails/13.jpg)
http://www.campconnelly.com
Was Warren Buffett Born a Great Stock Picker?
![Page 14: Mentoring week 2](https://reader037.vdocuments.mx/reader037/viewer/2022103110/54b67d484a79590b548b4569/html5/thumbnails/14.jpg)
http://www.campconnelly.com
Warren Buffett
Warren Buffett created Buffett Associates LTD in 1956 with seven partners (including his sister and aunt) and $105,000.
He personally put in $100.
•He’s been doing the same thing every day for fifty four years!!
![Page 16: Mentoring week 2](https://reader037.vdocuments.mx/reader037/viewer/2022103110/54b67d484a79590b548b4569/html5/thumbnails/16.jpg)
http://www.campconnelly.com
Mark DickMark became licensed in 1970
First year in production: $38,000 GDC
First $1,000,000 year: 1993 (22 years later)
“I’ve never made money on an incoming phone call.”
“If we’re not sitting with clients, we are unemployed.”
Monthly Accumulation Plans for forty years!!
![Page 17: Mentoring week 2](https://reader037.vdocuments.mx/reader037/viewer/2022103110/54b67d484a79590b548b4569/html5/thumbnails/17.jpg)
http://www.campconnelly.com
All of these people have a repeatable process that works for them. You need a Repeatable Process that works for you and you must rely on it through thick and thin
“My motto was always to keep swinging. Whether I was in a slump or feeling badly or having trouble off the field, the only thing to do was keep swinging.” Hank Aaron
![Page 22: Mentoring week 2](https://reader037.vdocuments.mx/reader037/viewer/2022103110/54b67d484a79590b548b4569/html5/thumbnails/22.jpg)
http://www.campconnelly.com
Imagine what you want and work backwards
i.e., Goal: $1,000,000 Annual GDC @ 1% Velocity = $100,000,000 in assets
150 clients @ $750,000 investable assets/client
You can draw from three pools:
Existing clients
Friends and acquaintances
People you haven't met yet
How many appointments do you need from each group weekly, monthly and annually and over what period of time?
![Page 24: Mentoring week 2](https://reader037.vdocuments.mx/reader037/viewer/2022103110/54b67d484a79590b548b4569/html5/thumbnails/24.jpg)
http://www.campconnelly.com
What is a mission statement?
A formal, short written statement of the purpose for your business
It should guide the actions of your business
Spell out your business’s overall goal
Provide a sense of direction
Guides decision-making
Provides the framework for devising your strategy
It should be clear, concise and inspiring
![Page 25: Mentoring week 2](https://reader037.vdocuments.mx/reader037/viewer/2022103110/54b67d484a79590b548b4569/html5/thumbnails/25.jpg)
http://www.campconnelly.com
Ben & Jerry’s
“To make, distribute and sell the finest quality all-natural ice cream and related products in a wide variety of innovative flavors made from Vermont dairy products.”
Mc Donald’s
“To satisfy the world’s appetite for good food, well served, at a price people can afford.
![Page 26: Mentoring week 2](https://reader037.vdocuments.mx/reader037/viewer/2022103110/54b67d484a79590b548b4569/html5/thumbnails/26.jpg)
http://www.campconnelly.com
Step four: Creating a Business Plan
This is the roadmap to your future
Use this plan to define your objectives, cash flow among them
Demonstrate that you have the ability to make your business a success
It does not belong in a file cabinet or buried in Word docs
![Page 28: Mentoring week 2](https://reader037.vdocuments.mx/reader037/viewer/2022103110/54b67d484a79590b548b4569/html5/thumbnails/28.jpg)
http://www.campconnelly.com
Each target market needs a separate marketing plan
Who is your target market?
What are their specific financial needs?
Why does this market make sense to you?
How will you approach this market?
When will you approach this market? (Set goals and timelines)
![Page 31: Mentoring week 2](https://reader037.vdocuments.mx/reader037/viewer/2022103110/54b67d484a79590b548b4569/html5/thumbnails/31.jpg)
http://www.campconnelly.com
Getting the Appointment
Being referred is the best way, but even that does not guarantee that you will get the appointment
There are only three reasons people can give for not seeing you
We will discuss overcoming all three
![Page 32: Mentoring week 2](https://reader037.vdocuments.mx/reader037/viewer/2022103110/54b67d484a79590b548b4569/html5/thumbnails/32.jpg)
http://www.campconnelly.com
Step eight: Giving the Presentation
Professional Selling Skills (PSS)
Initial Benefit Statement
Probing
The Presentation
Overcoming Objections
Closing the Sale
![Page 33: Mentoring week 2](https://reader037.vdocuments.mx/reader037/viewer/2022103110/54b67d484a79590b548b4569/html5/thumbnails/33.jpg)
http://www.campconnelly.com
Step nine: Perpetuating the Relationship
Think like a lifer
Be so covetous of your clients that only God can take them away, not the competition.
Lack of communication breeds lack of confidence. Lack of confidence kills relationships.
Become friends with your clients. Nobody fires their friends.
![Page 35: Mentoring week 2](https://reader037.vdocuments.mx/reader037/viewer/2022103110/54b67d484a79590b548b4569/html5/thumbnails/35.jpg)
http://www.campconnelly.com
Yet only 5% of today’s Advisor’s excel at their craft
Bob Dunwoody
![Page 36: Mentoring week 2](https://reader037.vdocuments.mx/reader037/viewer/2022103110/54b67d484a79590b548b4569/html5/thumbnails/36.jpg)
http://www.campconnelly.com
How do the 5% break the curse of the bell curve?
![Page 37: Mentoring week 2](https://reader037.vdocuments.mx/reader037/viewer/2022103110/54b67d484a79590b548b4569/html5/thumbnails/37.jpg)
http://www.campconnelly.com
The 5% Are brilliant at the basics
Have a repeatable process
Focus on their goals
Have a very solid business plan
Segment their books
![Page 38: Mentoring week 2](https://reader037.vdocuments.mx/reader037/viewer/2022103110/54b67d484a79590b548b4569/html5/thumbnails/38.jpg)
http://www.campconnelly.com
Truth: You must forever stick to three rules
![Page 39: Mentoring week 2](https://reader037.vdocuments.mx/reader037/viewer/2022103110/54b67d484a79590b548b4569/html5/thumbnails/39.jpg)
http://www.campconnelly.com
Rule Number One: Similarities don’t sell. Differences sell
![Page 40: Mentoring week 2](https://reader037.vdocuments.mx/reader037/viewer/2022103110/54b67d484a79590b548b4569/html5/thumbnails/40.jpg)
http://www.campconnelly.com
Rule Number Two: It is essential to market yourself
![Page 41: Mentoring week 2](https://reader037.vdocuments.mx/reader037/viewer/2022103110/54b67d484a79590b548b4569/html5/thumbnails/41.jpg)
http://www.campconnelly.com
Rule number three: The more successful we become, the further we get away from the basics which made us
successful in the first place
![Page 42: Mentoring week 2](https://reader037.vdocuments.mx/reader037/viewer/2022103110/54b67d484a79590b548b4569/html5/thumbnails/42.jpg)
http://www.campconnelly.com
Truth: you must master and stick to the basics
![Page 43: Mentoring week 2](https://reader037.vdocuments.mx/reader037/viewer/2022103110/54b67d484a79590b548b4569/html5/thumbnails/43.jpg)
http://www.campconnelly.com
“You hear all the time about European players playing the game. These players that come over at 17, 18 and 19, they just don't all of a sudden become skilled. From the time they were little fellas,
they learned the fundamentals of the game. “ Bobby Orr
![Page 44: Mentoring week 2](https://reader037.vdocuments.mx/reader037/viewer/2022103110/54b67d484a79590b548b4569/html5/thumbnails/44.jpg)
http://www.campconnelly.com
“Perhaps the single most important element in mastering the techniques and tactics of racing is experience. But once you have the fundamentals, acquiring the experience is a matter of time.”
Greg LeMond
Three time
Tour de Francewinner
![Page 45: Mentoring week 2](https://reader037.vdocuments.mx/reader037/viewer/2022103110/54b67d484a79590b548b4569/html5/thumbnails/45.jpg)
http://www.campconnelly.com
Truth: You can be successful without talent. You cannot be successful without hard work
![Page 46: Mentoring week 2](https://reader037.vdocuments.mx/reader037/viewer/2022103110/54b67d484a79590b548b4569/html5/thumbnails/46.jpg)
http://www.campconnelly.com
"I thought I was preparing fully for each tournament that I entered but in retrospect I realized that the effort was not quite 100%. Oh, I worked at the game, but I didn't
work hard enough."
"Perhaps subconsciously after twenty five years of being successful on the pro tour, I thought that I could get by on natural talent plus experience. I proved to myself
embarrassingly that I couldn't."
"Confidence is the single most important factor in this game and no matter how great your natural talent, there is only one way to obtain and sustain it and that is work.
That may be a hard fact to swallow, but doing so is the first step to excellence." Jack Nicklaus
![Page 47: Mentoring week 2](https://reader037.vdocuments.mx/reader037/viewer/2022103110/54b67d484a79590b548b4569/html5/thumbnails/47.jpg)
http://www.campconnelly.com
“No man ever reached to excellence in any one art or profession without having passed through the slow and painful process of study and preparation”Horace (65 BC-8 BC)
![Page 48: Mentoring week 2](https://reader037.vdocuments.mx/reader037/viewer/2022103110/54b67d484a79590b548b4569/html5/thumbnails/48.jpg)
http://www.campconnelly.com
Homework for today’s session
Submit your mission statement
Submit your marketing plan