With due permission of Bharat Sir and publisher, we are here in uploading few paragraph of chapter 8 for your ready reference. Tanushree For Bharat Parekh Chapter 8 Making the most of life Success is not something you find, but something you create. PROSPECTING UP: As an agent for life insurance, facing rejection had become a daily routine for me. A Big Cheque Prospect had exactly the same response as a Small Cheque Prospect. The familiar two letter word “No”. On the other hand when a big cheque prospect says “YES”, it is a big “YES” as he can write big cheques. I had already learnt that “Rejection” will always be followed by “Acceptance”. I was convinced that it was not going to be any different with “a big cheque prospect”. Further, one big case gave the same amount of business as 10 small cases. For example instead of 10 policies from 10 persons to the tune of Rs. 1.00 lakh (100 thousands) each, I could aim for one policy of Rs. 10.00 lakhs (1.00 million) from one person. By prospecting up I was tapping an unlimited market space. My initial years had provided me with good scope for learning, improving my skill and confidence level. I felt it was time to move on to the next level. I began to prospect up. The opportunities were unlimited. The objections to be handled were of similar nature. The decision making process which led to the sale was easier and quicker. All the people I met were generally decision makers in their own sphere of activity. Decision making was part of their daily activity so they could arrive at a decision easily and quickly. In my quest to prospect up, I targeted business owners, entrepreneurs, professional persons and high income individuals with a large personal asset base. I often thought handling these cases would be complex and difficult and that I had to come up with an entirely different approach if I was going to succeed. What I discovered was that dealing with the corporate owners was not very different or complicated. However I will not deny that handling a big case posed a bigger challenge as it was to be executed within a very limited time span. Corporate owners, business heads and professional people are highly conscious about their time. Each and every minute spent had to be productive. Getting an appointment with the top person of an organization was not easy. Once the appointment was got, I had to give it my best. I had to arouse their curiosity, create an impression, inspire their confidence and build a bond of trust all within the very first meeting. My failure to do so will eliminate the chances of getting another appointment. So I always made sure that Preparation, Planning and Execution was 100%. Unless and until the prospect was fully convinced with me in the first interview there was no way by which he was going to give me another appointment. Every case made me feel like I was appearing for an important examination. I would review my performance in the first interview to figure out how I could improve my performance in the next. Every interview presented me with an opportunity for learning and sharpening my skills. Over the years, from one big case to another I saw myself getting better and better. Handling big cases was not easy but it was simple. In big cases, the pre approach letter was very important for me. The letter set me apart from the mass of sales people who tend to throw courtesy aside and telephone out of the blue. Most Sales Persons expect the prospect to be so very accommodative as to grant them an appointment instantly. I bore in mind that the person who I was about to approach had the greatest value for time. I wanted to be most effective in the shortest of time. The letter gave the prospect the courtesy of a preview to my call. I was informing him who I was, what I do, and why I was calling. In this way the prospect becomes aware that I have great respect for his time and do not have any intention of wasting it. I get in touch with the prospect over the phone after approximately two weeks to fix an appointment with him. At the corporate market place I always start at the top and work down. By writing to or calling the top decision maker, the President, Managing Director or the Chief Executive Officer I have the opportunity to interact with the person. We get to know each other and this builds a rapport that will be invaluable when the final decision is made. As already explained in Chapter 5 under the title “Asking for a name”, when asking for referrals, I ask for names in the target area I want to work in. I specify to my clients the area into which I would like to be referred. In this way I steadily move up market. By increasing my referral activity I have built a prospect bank that will allow me to pick and choose the best prospects in the market area in which I want to work. When handling big cases, a referred lead always placed me in an advantageous position. In most cases the top person appreciates the idea of another person, a trusted friend or an associate evaluating the credentials of the Life Insurance Agent. I give the prospect enough time to talk to the person that referred me for an establishment of my credentials.
Posted on: Fri, 26 Sep 2014 05:34:43 +0000
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