Business Format System

Overview

New Associate Training Series

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Sales vs. MarketingWhereas the Sales Process is everything

you do with a potential client to help them come to a purchase decision and get a signed contract or paperwork,

Marketing is everything you do to ensure a continual flow of new prospects, or potential clients and prepare them for the sales process.

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Four Keys to Building a Successful Business1. Find a plan that works

Find examples of success and study what they have done to succeed.

Imitate successful strategies.2. Do it over and over again

Develop a written game plan. Write and read an affirmation statement twice daily.

3. Lead by example A united strategy builds momentum. Develop a team identity and tradition.

4. Think big Be a visionary. Build a big team to build a big client base.

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WFG: A Powerful Business ModelBy employing a combination of three successful marketing strategies, WFG has created a highly innovative business hybrid.1. Retail marketing – Clients go to a specific

location to do business. 2. Direct Marketing – Business people contact

prospective clients they don’t know via email, phone, mail, etc.

3. Relationship Marketing – Relies primarily onthe warm market approach and word of mouth.

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The WFG Business Format SystemThe WFG Business Format System (BFS)

is our proven step-by-step marketing, recruiting, and business building blueprint to help grow your business. It consists of6 Steps and 8 Filters.

The rapid relentless repetition of these six simple recruiting steps can lead to the building of a big business with many distribution outlets.

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BFS Six Steps1. Prospecting2. The Approach / Contact3. The Presentation4. The Follow-Up5. The Start-Up6. Duplication

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WFG Business System The WFG business system

looks something like this:

New Associate Personal Financial Review

Presentation

Contact

ProspectTop 25 List

YOU

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The WFG Challenge Increase Your Will to Win Develop a Passion for our Mission Understand and Execute Your Commitments

Business Format System

Prospecting

New Associate Training Series

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ProspectingProspecting is the process of identifying

qualified people to call on who may potentially become Associates or Clients.

Just as a retail store must have tangible inventory, in your WFG business, you must always have a solid inventory of prospects.

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Developing a Target MarketIn WFG, successful Prospecting can be divided up into Four areas:1. Natural Market

This market includes friends, neighbors, relatives, co-workers, social contacts and business contacts.

2. Friendship FarmingTransforming strangers into friends to create a new natural market.

3. Friendship Borrowing System Relationship marketing through the third-party referral system.

4. Professional Prospecting Using WFG-approved tools such as videos, ads, letters and the WFG websites to expand your prospecting pool.

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Natural MarketCreating a target list should be a top priority for any new associate, and the easiest, most natural place to begin is in your Natural Market.Important keys in developing your prospect list:Add names, don’t eliminate them.

Think of the names of people with whom you would like to do business or who could benefit from the services World Financial Group associates provide. Resist the tendency to eliminate people from your list. Remember it’s not just about who you know but also who they know.

Complete your top prospect List with your leaderMost people know hundreds of other people. If you were going to make a wedding invitation list, you would probably have more names than you could invite. Look at your mobile phone contact list. You know lots of people.

Use the “Executive Memory Jogger” to add as many names as you possibly can. 11

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Natural Market Qualify and Identify the Top 25 on your list

Your list should have a minimum of 100 names to start. Once you develop your list, you will need to identify the top 25 and begin contacting them immediately with your leader.*

There are 8 Qualifiers to help identify top prospects.1) 25+ years old 5) Income2) Married 6) Ambitious3) Children 7) Dissatisfied4) Home Owner 8) Entrepreneurial-minded

* Contacting will be covered in Step 2.

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Friendship Farming The System to Turn Strangers into Friends As you go about your normal daily activities, be on the lookout for people with whom you can strike up a conversation. It is important that you be genuinely interested in the person to whom you are speaking. Make a connection and build rapport with them before you go to message.There are four conversation points to keep in mind when casually visiting with a stranger. This is called the FORM System.

F Stands for Family. You might ask about his children,did they grow up here, etc.

O Stands for Occupation. What does she do for a living?How Long? Does she like her job?

R Stands for Recreation. Perhaps you have a commonrecreational interest.

M Stands for Message. Tell the prospect what you do topique his interest. Get his name to call or visit in thefuture and share the rest of the story.

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Friendship Borrowing System The ability to obtain referrals is one of the keys to your long term success.Referrals will provide you with an endless supply of prospects for recruiting new associates and product sales. The STEAM System can be used to generate referrals, by asking people the following questions. S Sales. Who do you know who is a great salesperson? What did you

buy lately? Who sells himself/herself well?T Teacher. Who comes to mind when I say teacher—school teachers

or anyone who teaches well? E Enthusiastic. Who is the most enthusiastic person you know, someone

who is always positive and always has a great attitude about life?A Ambitious. Who do you know who really wants to be a success, or is a

success, the person who goes to bed the latest and gets up the earliest?M Money motivated or needs more money. Has one of your friends been

talking about needing extra money? Who just sent kids to college? 1155

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Professional Prospecting Using the many powerful WFG Communication tools can greatly assist you in building your World Financial Group Business. WFG contact videos / DVDs Internet marketing through WFG-online.com Approved prospecting letters Approved advertisements Company approved marketing materials Company approved magazines and articles

related to WFG Company approved sponsorship tie-ins

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Professional ProspectingMany WFG associates have previously worked in the financial services industry. As a WFG associate, you, too, may find success in recruiting from these industries, but it’s important that you understand each of these markets and how to approach them before you do so. Life Insurance Professionals Securities and Investment Professionals Accounting, legal, and other high-quality

Professionals Mortgage Specialists Financial Planners Property & Casualty Agents Estate Planning Specialists Qualified Plan Specialists

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Effective Ways to Handle Objections You must be completely scripted. You must be familiar with the common objections people

will give you. Never answer a question with a statement; answer it

with another question. Listen twice as much as you talk. You must be more certain about your proposal than the

other person is about objecting. If you don’t know the answer, write down the question

and follow up later with an answer.

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PROSPECTING NEVER ENDS If you don’t have any names to call on, you

are out of business. Use these techniques daily to develop a

never-ending supply of prospects. You’ll always have someone to call or

somewhere to go.