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2018 MDRT Annual Meeting e-Handout Material Title: 5-Habits of Highly Effective Salespeople Speaker: Bruce Lund, Ph.D. Presentation Date: Monday, June 25, 2018 Presentation Time: 3:30 - 5:00 p.m. Session Room: LACC - 408 The Million Dollar Round Table® (MDRT) does not guarantee the accuracy of tax and legal matters and is not liable for errors and omissions. You are urged to check with tax and legal professionals in your state, province or country. MDRT also suggests you consult local insurance and security regulations and your company’s compliance department pertaining to the use of any new sales materials with your clients. The information contained in this handout is unedited; errors, omissions and misspellings may exist. Content may be altered during the delivery of this presentation.

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Bruce Lund, Ph.D.5 Habits of Highly Effective Salespeople

2.2MM OF CHANGEPresentation Focus

• Not trying to revamp your entire business

• Case Study: My own experience moving to a brand-new market not knowing ANYONE

• “I need a system for that!”

5-HABITS OF HIGHLY EFFECTIVESALESPEOPLE

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WHY OS?• What’s the number one question you get asked?• Avoid the commodity trap• Have something to say…• Motivated buyers use the 1st person they talk to 67%• People don’t buy what you do they buy WHY

HABIT #1OPPORTUNITY STATEMENT

6-Components of a World-Class OS1. What you believe?2. Why you believe it?3. What you do?4. How you do it different?5. Who you’ve done it for?6. ASK for the business

I NEED A SYSTEM FOR THAT…DIFFERENT THAN AN ELEVATOR PITCH

OS TRAININGExercise:

• What you believe? 7-10 word statement

• Why you believe it? Comes from the PAST

Tip: Have an opportunity filter based on beliefs to attract the right business and repel the wrong.

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Lead Generation Focused• Sales is a Game of Probability

•Much more than just a CRM Calculated, coordinate attack on the market

• High Value Activities (Mindset) What’s the highest use of my time to generate leads? Money follows activity and attention

HABIT #2SELLING SYSTEM

Lead Generation Focused• 90% of salespeople don’t have a selling system• 85% of agents say they struggle must with prospecting

2-Types of HVAs:1. Income-Producing Activities (IPAs)2. Person of Influence Activities (POIs)

I NEED A SYSTEM FOR THAT…

The Daily 5 ASKS1. Top-25 Advocates = 5 per week2. New Clients = 5 per week3. Promoters = 5 per week4. Help List = 10 NEW leads per week5. Fight Club = 15 pipeline per week

INCOME-PRODUCING PRIMARY STRATEGY

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New Lead Generation Activities1. Showcase = 3 per week2. Connectors = 3 per week3. Climbers = 3 per week4. Someday = 3 per week5. NEXTPERT = 1 per week6. Database = 1 per week7. Online POI = 3 per day

PERSON OF INFLUENCESECONDARY STRATEGY

3-TYPES OF SHOWCASESOutside Sales-Focused

1. Networking Events (3 per week)2. Speaking Showcase (once per month)3. Advocate Event (once per quarter)

SELLING SYSTEM TRAININGExercise:

• What are my top-3 customer acquisition strategies?• Ask: What’s the highest use of my time?• How much of my time am I spending each day?

Discuss.

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A Touch with Value• Fight Club mindset• Most people go 2-3 WEAK attempts• 7-15 touches to close 80% of the time• As much about follow-through as it is follow-up• Some Will. Some Won’t. So What.

HABIT #3FOLLOW-UP SYSTEM

I NEED A SYSTEM FOR THAT…10-TOUCH FOLLOW-UP

Touches 1-71. Email (formal touch)2. Content Specific (soft touch)3. Trigger Methodology (soft touch)4. Proof of Concept (formal touch)5. Formal Meeting6. Social Consensus (advocate call)7. Challenger Sale (formal) - Find REAL Objection

DISCIPLINED & CONSISTENT10-TOUCH FOLLOW-UP

Touches 7-108. Do they REALLY fit your filter?9. Repeat best strategy10. Repeat best strategy

• Tip: Have an opportunity filter based on beliefs to attract the right business and repel the wrong.

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FOLLOW-UP TRAININGExercise:

• What is your current follow-up SYSTEM? • What are the top 3 objections do you receive?

Discuss.

Define What “Unique” Experience is:• Referability definition• New Client to Promoter to Advocate

Promoter = When solicited Advocate = Raving Fan (5.7 additional)

HABIT #4UNIQUE CUSTOMER SERVICE

I NEED A SYSTEM FOR THAT…90-DAY ONBOARDING

Slow Down to Speed Up• Communicate the process (what success looks like)• New Client Defined: When money changes hands• Most “on fire” directly after service (ASK)• Benchmark = 3 per new client (less than 90-days)• 7-10 touches in first 90-days• Examples: Paint, Gutter-Cleaning, Winterization

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REFERABILITY STATISTICSStop Windshield Shopping!

• 5-times more difficult to get than to keep• Every deal should be worth 5.7 additional (NAR)• 6-times more expensive to acquire new clients• Salespeople who actively seek repeat earn more Remember the 3-daily asks for referrals

CUSTOMER EXPERIENCE TRAINING

Exercise:• Define what “unique” customer service is to you?

• Avoid overused and underdone words (commodity)• What’s Your “Free Prize”?

Discuss.

Why Status Sells• #1 challenge of small business owners is obscurity

• Not enough people know who you areNobody else’s job but yours!Self-Lead Generate (brand within brand)

HABIT #5ENTREPRENEURIAL SPIRIT

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MONEY FOLLOWS ATTENTIONSTATUS SELLS

5-Ways to Elevate Your Status in Any Market1. Market Your Explanation of Services2. Get Proximity to Prosper3. Celebrate Success as a Mini-Celebrity4. Have Style AND Substance5. Become a Person of Influence

ENTREPRENEUR TRAININGExercise:

• How are you elevating your status in the market?• Which of the 5 areas do you most need to embrace?

Discuss.

ENTREPRENEURIAL MINDSETConclusion Reminders

• Sales is a game of probability• Overused but Underdone: Discipline, Focused,

Systems, Consistency, Routines, Organization• Be the best at your best (avoid commodity trap)

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I NEED A SYSTEM FOR THAT…

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The WHOLE Salesperson 5-Habits of Highly Effective Salespeople LESSON INFO: The “Whole Person Theory” was made popular by Stephen Covey by looking at the Mind, Body, Heart, and Spirit. These four parts make up the whole person. We believe there are five parts that make up the WHOLE salesperson. We call this 2.2MM of change. Overview of the 5-Missing Structures of Most Salespeople Whether you are a brand-new producer, a top producer, and or somewhere in-between we all have “missing structures” in our business. Here are the BIG five we’ve discovered:

Habit #1: Sales-related: _________________________________________________________________ Habit #2: Sales-related: _________________________________________________________________ Habit #3: Sales-related: _________________________________________________________________

Habit #4: Service-related: _______________________________________________________________

Habit #5: Mindset-related: ______________________________________________________________

1) Having something to say is just as important as the leads.. 2) Sales is a game of probability that favors the prepared.. 3) A “touch with value” that solves their problem.. 4) Drive massive referrals through advocates.. 5) Money follows attention and activity..

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HABIT #1: Opportunity Statement The number one question we get asked in sales is, “What do you do for a living?” We call this the performance moment. Most commoditize themselves in the first conversation by saying “what” it is they do. We start with what we believe to attract business vs. chase.

Would you rather know in the first 15 seconds if they are a fit? Then start with why! Six Components of a Great Opportunity Statement: OS Statement I: ____________________________________________________________________________ OS Statement II: ____________________________________________________________________________ OS Statement III: ___________________________________________________________________________ OS Statement IV: ___________________________________________________________________________ OS Statement V: ____________________________________________________________________________ OS Statement VI: ___________________________________________________________________________ EXERCISE: What do you believe and why?

ü Have a clear filter of people you WANT to do business with based on shared beliefs! ü Beliefs come from your unique past (experiences, struggles, mentors, education)

Core Beliefs: Why you believe (from past):

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HABIT #2: Lead Generation Selling System What is a lead generation selling system? A coordinated, calculated attack that is proactive in your lead generation through high value activities. What’s the highest use of my time right now to generate a new customer or lead? Sales is a game of probability. Two-types of High Value Activities (HVAs):

1) Income-Producing Activities (IPAs) = 5 per day ü Ask for business/referrals

Ø Money follows activity

2) Person of Influence Activities (POIs) = 5 per day ü Elevates your status/marketing

Ø Money follows attention Selling System Categories Primary (IPAs)

1) Advocates (Top-25) = 5 per week 2) New Clients (90-days) = 5 per week 3) Promoters (past clients) = 5 per week 4) Help List (new leads) = 10 per week 5) Fight Club (prospects) = 15 per week

Secondary (POIs) 1) Showcase = 3 per week 2) Connectors = 3 per week 3) Climbers = 3 per week 4) Someday = 3 per week 5) NEXTPERT = 1 per week 6) Database = 1 per week 7) Online/Offline Marketing = 15 per week

3-Types of Showcases:

1) Formal Speaking = You are the expert (at least one per month) 2) Outside Sales = Networking events you host or attend 3) Advocate Event = Celebrate success and client success (once per 90-days)

EXERCISE: What’s the “highest use of your time” to generate a new lead or customer?

ü Top-3 customer acquisition strategies? ü How much of your daily or weekly time do you spend in those areas?

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HABIT #3: Consistent Follow-Up and Follow-Through Follow-up is a “touch with value” that articulates how you solve their problems better than anyone else based on your unique past (experiences, mentors, education, struggles, perspectives). Have a Fight Club mindset to earn their business since they fit YOUR filter. 10-TOUCH FOLLOW-UP (90-Day Follow-Up Process) 7-15 touches to close a deal 80% of the time.

Touch #1 – Email (Formal Touch)

• Send brief first meeting summary with call-to-action • Remind them of your shared beliefs and repeat your belief statement • Highlight 2-3 areas (buzzwords) you KNOW you can help them in

Touch #2 - Content Specific Touch (Soft Touch) • Content specific to their situation (needs/wants) • Should be YOUR content (Person of Influence) • Gift to make them think

Touch #3 – Trigger Methodology (Soft Touch or Formal Touch) • Anything that triggers you to think about another person • Typically less “salesy” • Environments, Events, Business

Touch #4 - Proof of Concept (Formal Touch) • Spending time with a client right now just like you (be the expert) • Testimonial video or quote from advocates/promoters/current clients • Call-to-action to set up next meeting or ask for business

Touch #5 - Formal Meeting • Use this meeting to rekindle initial business chemistry • Remind them of shared beliefs (EOS) • Re-identify the problem (want/need) and ASK for business!

Touch #6 - Social Consensus § Have an advocate or new client speak to them on your behalf § Sometimes an outsider perspective and conversation can put their mind at ease § Educate your advocates

Touch #7 - Challenger Sale (The Ask) § Challenge to close (Challenger Sale Concept) § What’s REALLY stopping us from getting started? § Get to the root objection (or excuse) and be ready to overcome

Touches #8 – Filter question • Excuse or true objection – do they REALLY fit your filter still?

9-10 - Repeat Top Strategies

§ Move on or Move Out (someday people)? § Repeat most receptive responses.

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EXERCISE: Which areas from above do you need to implement more of? ü What are the top 3-5 objections you get and are you prepared to overcome?

HABIT #4: Deliver a Unique Customer Experience Are you transactional or transformational? The number one reason people don’t refer their agents is they don’t remember their name. Stop windshield shopping and start impacting. What does “unique” customer experience mean to you? Most just copy and paste what everyone else is saying or doing.

Referability is when great people tell other great people how great you are! New Client à to Promoter à to Advocate that FEEDS your business qualified referrals

Ø Promoter = When asked or solicited for advice in your field Ø Advocate = Raving fan who drinks your Kool-Aid

o How to measure? 5.7 Additional Deals 90-Day New Client Onboarding

Ø Slow down to speed up Ø 3 referrals from new clients in 90-day window Ø Why so important? This is when they are most “on fire” Ø 5-times more difficult to get than to keep Ø 7-10 touches in 90-day window

Be in the Transformation Business

ü Personalized Examples: Painted Room, Gutter-Cleaning, Alcohol Part IV of EOS Reminder:

ü This is how I REALLY do it different (did you deliver) o Brand consistency is what brings customers back

Referability Statistics:

ü Every deal should be worth 5.7 additional ü 5-times more difficult to get than to keep ü 6-times more expensive to acquire brand new ü Salespeople who actively seek out referrals earn 5-times more

o Remember the 3-daily referral asks (advocates/promoters/new clients) EXERCISE: Define what “unique” experience is to you?

ü What’s your “Free Prize” – Something “in addition” to the transaction. ü Most give lip services and say overused and underdone things

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HABIT #5: Entrepreneurial Spirit (Status Sells) The number one challenge for small business owners is overcoming obscurity meaning not enough people uniquely know who you are, what you do, or how you can help them. If you are in any type of sales then you are an entrepreneur. It’s nobody else’s responsibility but your own to self-generate leads and to get more attention for your business.

We believe money follows attention and that STATUS SELLS 5-Components to Elevate Your Status in ANY Market:

1) Have a world-class explanation of services and market it the heck out of it. ü I see your name everywhere ü Know what you want to be known for/as and share your beliefs with everyone ü Your EOS should serve as your marketing plan (on all materials) - Consistency

2) Get Proximity to Prosper ü Identify the movers and shakers in your market and/or community ü Believe in the law of attraction (sum total of those we hang around most) ü Get “inside baseball” knowledge from other people of influence/power

3) Become a mini-celebrity in your space ü Nobody ever said business had to be boring (celebrate success) ü We all need more positive attention to attract business (marketing 101) ü Use your status to produce more results for your clients (walk-the-walk)

4) Have Style AND Substance ü Have the sizzle AND the steak ü True “student of the game” (understand you are your greatest asset) ü Entrepreneur evaluation (10 ingredients of a person of influence)

5) Become a Person of Influence ü The reason we want to elevate our status is to become a person of influence ü It’s your DUTY to protect the integrity of your industry ü Mother Teresa Story

Other Entrepreneurial Keypoints:

ü Remember sales probability: Have systems, structures, discipline, routines, organization

ü Be best at what you’re best at (avoid the commodity/identity trap)