Today I want to talk about
the number 1 thing
that has helped me in business
and when I look at
professionals
and business owners
that are at that next level,
some that are doing almost
$100,000,000 per year in revenue
they have this quality
and everyone has it
everyone can have it
or develop it
listening.
Listen to the people
you work with
and then also ask questions.
I'm going to talk a little bit more
about that
but I'll give you a tip on listening
or a story on listening.
Earlier this week
today is July 23rd
when we are shooting this video.
Earlier this week
my wife and I
met with our attorney
Elizabeth
to go over
personal planning,
estate planning,
business planning,
we were just buttoning everything up
getting it set up
because it's been on my mind
for a while.
Now Elizabeth
we have a podcast with her
so you might know
who I'm talking about
it's on our youtube channel.
But she is
one of the sharpest people
I've ever met
from a business perspective
she knows her stuff
from just a general
knowledge standpoint
some of the things she'll talk about
like fun facts
I'm like, how do you know all this stuff
and remember it all?
But she's a sincere person as well
and in talking to her
she's at that level
where she works with people
with tons of money
hundreds of millions of dollars
but she's listening to
our concerns.
Everyone we've referred to her
she listens to their concerns
doesn't matter
how much money they have
and she makes sure
that a plan is set up
to benefit their concerns
or I should say
to address their concerns
to benefit them
take care of their goals
she listens.
She even took the time
to explain to my wife and I
the basics of
what a trustee is,
what an executor is,
why that's important,
what we should do.
My wife and I
were having a hard time
setting some things up
she gave us
some recommendations
as far as here's what
some of my other clients do
in a similar position to you.
Here's what I do personally.
She's listening to
what our struggles were
and she's helping us
overcome that.
So,
as I explained that
what are your thoughts?
Okay that person seems
really nice
really good at what they do.
If you haven't seen the podcast
or any of her podcasts
I'd recommend watch them
you'll know in 2 seconds
what I'm talking about
but she's very good.
When I was early in my career
I remember meeting with someone
it was my first big sale at the time
I was so fanatic about it.
But she worked with me
a back-office nerd
who liked the numbers
I could design policies
but I couldn't really speak that well
I would stutter all the time
my palms would sweat
when I'm on the phone.
But an older woman
had decided to work with me
and open up a large policy
and I still remember to this day
what she said.
She said Steve,
the reason I'm working with you
and not a competitor
who's much older
and more experienced than you are
is because you listen.
And I wasn't even aware of it
in my mind,
I'm like okay I'm listening
and here's what you wanted
to accomplish
so I'm going to make sure
I set up everything properly
that accomplishes what you'd like.
One last example
on listening
from a marketing perspective
as we have grown our business
from the cash value
life insurance sales side
what we primarily offer
and set up for people
are policies designed
for maximum cash value
which has to do often with
a 10/90 split
10% premium
90% of our payment
going toward cash value
that's is as aggressive as we can go
with a lot of the top companies.
Now,
where did we come up with that?
Well in working with people
and having,
I don't know how many
thousands of sales meetings
one after another
just over the years
when I was on my own,
the number one thing expressed
that still sticks with me
and we hear it all the time is hey,
why are the policies you show me
so much richer in cash value
than what I have seen out there
from other agents
and other marketing content
whatever?
Why can you produce
so much more money?
And I was just designing the policy
for maximum consumer value
and minimum commission
but in hearing that over
and over
and over again
from so many different people
I'm like, this is the objection.
Like so many times
people will come to me
about infinite banking
they wanted to understand
the concept
but typically I'd ask hey,
from your research
going on asking questions
from your research thus far
you've got the banking concept
and then you've got
whole life insurance
do you have questions
on the banking concept
and how that works
or more so around
the whole life insurance product?
And 99
out of 100 times
I would hear
you know I understand the concept
you know I see that
my money is always
compounding for me
I can really become my own bank
take control of my personal finances
I get that and I'm attracted to it.
What I don't understand Steve
is the whole life insurance piece.
So from a sales perspective then
I know that I don't need to go into
all the details around
infinite banking
because they've done the research
they get that.
Their point of interest
is the whole life
insurance product
go through that
in detail with them.
And that's exactly what I did
and then quickly discovered
always,
always the key objection
that always popped up was
how do I get more money
in cash value
short term and long term?
Like that's what I want
because it's an opportunity cost
for me today.
If I lose money
give it to me upfront
so I can then use it for my business
to pay off debt,
real estate,
whatever.
So we started marketing that
heard what the
common concern was
and started marketing that
showing it to the masses
of exactly how to
set those policies up
what companies typically deliver
the strongest cash values
like that's all we did
really as I look back at it
because that was the major concern
like that's what people
are interested in
and it's about the consumer
the client
not you the agent
what you want to sell.
So listening
and asking questions.
Here's what I want to touch on
when it comes to listening,
what are the person's goals?
What are their concerns?
Have they done research already?
And you really figure out
all of those by asking questions
but listen to what they have to say.
If someone tells you
or tells me
you know I get the banking concept
or I get the fact
that I can use this policy
for retirement income
or I can use it
to generate perpetual wealth
I can set it up in a trust
have the family office structure
use a high cash value
life insurance policy
to accomplish it.
But I really want to understand
how to get the best value
on my money.
Don't just sell me on the concept
you better set
the policy up properly Steve.
The details
the mechanics were important
or just knowing that it was optimized
so I've got to ask questions
or they'll outright
express it sometimes.
But if you don't listen
and just go into some
big presentation
that's where we lose business
and you're not their go-to person.
Asking questions.
Here's something that I'm very,
very big on
not closing questions
especially early on.
We're not asking questions
to try and close the sale
or here's the tactic I use
to get them across the finish line.
No, these are questions
getting to know them.
If I go back to the attorney
I mentioned Elizabeth
when she has interview meetings
with her clients
that's the first thing they do
it is simply
getting to know each other
that's it.
You get to know her
she gets to know you
and that is a beautiful process.
How she does it
from a time perspective
she's growing
I think she is growing again
she mentioned that to me
they're bringing on more lawyers.
But she's got that personality
where everyone wants
to connect with her
I do all the time
I know everyone does.
Like how do you do it?
Going a mile a minute
all day long
every single day.
But,
the interviewing
she's not closing at all
she's educating
she's asking questions
getting to know you personally
business, finance,
everything.
Really I feel like
you're making a friend
when you're talking to her
we try and do the exact same thing.
And then also
informational questions.
You know something
I learned here
in working with
business coaches
we worked with
Grant Cardone's office
who by the way his style
is polar opposite of mine
if you look at his marketing
compared to
how we educate
polar opposite.
I reached out to him
because I reached out
to someone else first
and they didn't get back to me
it was at a point where
I was desperate
I needed help
from a business perspective
trying to learn everything
got in touch with him
and there's a lot of gems
we've taken away from
working with that group.
But I did speak with Grant
I started with
personal coaching with him
but primarily now
I work with
Steve Spray at the office
and one of the things he does
he is a phenomenal service person
salesperson he's very good
but when I talk to him
he's in sales
but I never get the sense
that he's trying to
push sales on me.
He talks
he listens
and information questions.
One of the best lines
I've learned from him
was when someone calls in the office
or someone wants a meeting
he starts with,
what can I get you information on?
That's it.
He's not going to start
going into the presentation
about the product
they inquired about.
No.
What can I get your information on?
What questions they have
listen to the questions
and directly address
those questions.
For example,
if you have questions about
high cash value life insurance
but you found us
because you were interested
in the idea of infinite banking
or using it as a retirement vehicle
whatever it might be
and I just start talking about
infinite banking
or the retirement aspect.
When you're like hey,
I get that Steve
don't talk about that
I'm interested in the cash value
life insurance piece.
If I don't listen to you
you're going to get fed up with me
and go work with someone else.
Maybe
hopefully not.
But the point is
you have to listen
to the person you're working with.
I know I've said the word listen here
a million times
it's something that is
I'm deeply passionate about
to use that word
you've got to listen to those you work with.
If you do that
you will just continue
to move forward in your business.
Always do the right thing
and it can sleep at night
you know if you listen to others
and set everything up
how they wanted
you really eliminate the chance
of someone coming back
and saying
hey, why did we do this again?
I don't think is what I wanted.
Now you got to resell it
you've got that
awkward situation
where you get frustrated
they get frustrated
and that's never a good experience
they post a bad review
or something like that
like nobody wants that stuff.
We're in business
because we're trying
to do the right thing
and help other people.
Do that first
and the money will come
you've heard that before
but it's true
don't chase the money
chase the client
and make things convenient for them
and the money will come
that will happen
but do everything properly.
Here's the first thing
ask questions
I didn't put in here
let's do this right now
directly answer them.
Don't play games
and beat around the bush
if it's a tough question
directly answer them.
Somebody wants to see
the guaranteed values
small companies
directly answer them
and show them the values.
So I hope that you
got some value out of this video.
If you like it
please hit the like button
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and we'll talk to you soon.
I hope this helps.
Hey guys Steve Parisi here,
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