The Secret to Success? Bet You Didn’t ‘Think’ About it

Key to TomorrowIs it possible to think your way to success?  According to a study of more than 350,000 sales people who earned the highest incomes, that’s their secret.

LifeHealthPro.com reported that the highest earning salespeople spent most of their time thinking about making money. They thought about what they wanted and how they were going to get it. They also think and talk about their goals and how to sell more all day long.  In fact, the more you think about your goals, the more positive and enthusiastic you become. By becoming more enthusiastic and positive it had led the best salespeople to sell 10 to 20 times more than the average sales person (who spends most of their time thinking about their problems.)

The best salespeople are ambitious; they know that the top 20 percent of sales people make 80 percent of the sales, and they want to be among that 20 percent.

If you know that you want to be among that 20 percent but just don’t know where to start, you should make a commitment to excellence—nothing less. Make a promise to yourself that you are work hard until you are at the top.  Once you have done that, the key is continuing to work and never give up—always keep moving forward. Make it a priority to learn something new day, each week, or each month that will help you on your journey every. Learn to be teachable, as Andy Albright would say.

You should also begin seeing yourself as the most successful salesperson—continuously tell yourself that “I’m the best.” If you see yourself as the best, you’ll start acting and working like you’re the best—make your perception your reality.

Lastly, don’t ever give up. Keep working until you reach your goal and then set another—your work is never done.

Now, National Agents Alliance team, it’s time to get your thinking caps on and get to work!

What Mistakes Do You Make As A Leader?

Oops!Everybody makes mistakes, even the greatest leaders have stumbled along the road to success.  No one is perfect, and everyone has shortfalls; but when you are able to recognize these faults you can create a positive impact within your agency.

According to the Great Leadership blog, these are the top five mistakes a leader can make:

  1. Focusing on the urgent and not the Important: This is a trap that many leaders fall into. Have you asked yourself how much time you’re spending on unexpected and urgent activities, instead of working towards your goal? Many leaders fall into the crisis zone and lose sight of what they should really be taking care of—their goals.  Instead of becoming engulfed in last minute crises, dedicate at least one day a week to work on tasks that will move you closer to achieving your goals. This will help you keep your end goal in mind, while still taking care of more pressing matters.
  2. Lack of Consistent Communication: There is no such thing as “over communicating,” especially when technology today allows us to consume mass amounts of information every day. You should be communicating frequently and consistently through various methods like emails, phone calls, meetings, audio, video, and hard-copy print outs.
  3. Ineffective feedback: It’s easy to look past things and not sweat the small stuff, but when your employees display unacceptable behavior or are doing tasks wrong, you need to give clear feedback right away to avoid conflict down the road. “Be clear about what you observed, how it impacted you, and ask for ideas from your employee about how they could approach it in the future. And then get their commitment to make the change,” says Beth Armknecht Miller, a leadership development advisory firm accelerating the leadership success of CEOs and business leaders.
  4. Failing to define clear goals: Employees need to understand how they will be measured and evaluated. “Defining clear goals provides a roadmap for the employee. And more importantly, when an employee is part of her goal setting process, she has more ownership in successfully attaining her goals. Without goals, employees will not meet your performance expectations because they don’t know what they are,” Miller advises.
  5. Misunderstanding motivation: Once you have met an employee’s baseline extrinsic motivators, salary and benefits, you should focus on creating a foundation that encourages, autonomy, mastery, and purpose. Daniel Pink’s recent book Drive states, humans are driven by these three attributes. Autonomy is all about control of tasks, time, technique, and team. Mastery is providing an opportunity to get very good at something and to continue the process and understanding that you will never be perfect. It is the pursuit of perfection that motivates. And finally purpose, working for some greater good and not just profit. Profit provides a means for a company’s purpose, Miller stated.

If you were to ask your team which mistakes you make, what do you think they would say? Let us know by commenting below!

The Cost of Waiting

The Cost of WaitingHere is a scenario of two young agents with National Agents Alliance planning to save for the future.  Both agents are 24 years old and, since they are in the financial services industry, they decide to start thinking long-term about their future just like they recommend to their clients.

One of the strategies they discuss is putting some extra money away in an IRA on top of their other investments.

One of the young agents procrastinated, like so many of our clientele do, while the other began a savings plan right away.

The “smart” agent put $2,000 in an IRA starting at age 24 and again each year through age 30.  He invested a total of $14,000 but at age 30 decided to stop adding to the IRA.  When he reached age 65 his IRA totaled $1,074,968.  Because he started early, and his money had “time” on its side, it compounded year after year to over a million dollars.

On the other hand, our procrastinator found excuses for not saving, excuses similar to those our clients come up with.

Finally, at age 30, the second agent decided to go ahead with the savings plan and put $2,000 in the IRA every year, and while he managed to accumulate over a million dollars by age 65, he had to put in his $2,000 every year all the way through age 62.  That’s thirty-three years compared to seven years!

Do you think it’s important to get your clients to start early in planning their financial future?  It’s made even more clear when you see the numbers! Agents must “practice what they preach” and follow Andy Albright’s tenets from The 8 Steps to Success…number 1:  Personal Use.  Show clients you believe in planning for your financial future and you’ll have an easier time getting them to do the same.

Age Agent 1 Agent 2
24 2000
25 2000
26 2000
27 2000
28 2000
29 2000
30 2000 2000
31 2000
32 2000
33 2000
34 2000
35 2000
36 2000
37 2000
38 2000
39 2000
40 2000
41 2000
42 2000
43 2000
44 2000
45 2000
46 2000
47 2000
48 2000
49 2000
50 2000
51 2000
52 2000
53 2000
54 2000
55 2000
56 2000
57 2000
58 2000
59 2000
60 2000
61 2000
62 2000
63
64
65
Total $1,074,968 $1,085,197

The cost of waiting?    $54,000!!!

How to Juggle Work and Kids in the Home

Work Life BalanceOne of the many benefits of working for National Agents Alliance and yourself is that you can work from home. For many people having the ability to work from home means you can save on other things, like child care. Your job has a lot of demands on your time, but now your children are demanding your attention too—making it difficult to actually get any work done.

If you have to balance your children and work, Entrepreneur Magazine has offer tips in their article “5 ways to work around the kids” on how you can remain productive while juggling babysitting duties:

 

  1. Work on fringe hours of the day:  If your priority is to be home with your kids while they’re young, then you may want to adopt the habit of working extreme hours in the morning before the kids get up, or at night after they go to bed. This would be ideal for managing work requirements that don’t require you to do things during traditional business hours, like make phone calls or set up appointments.
  2. Take advantage of nap time: Nap time—it’s those cherished few hours when there’s peace and quiet in your household. You need to be no-nonsense about naps and diligent about making them happen. Not only is it a good opportunity to squeeze in some work, it’s good for your child to have healthy sleep habits.
  3. It takes a village: No matter how great of a parent you are, you will need help from time to time. Consider a baby-sitting co-op with a friend or another parent who works from home. If you’re already watching one child, what’s another one? You’ll be able to trade off babysitting duties, allowing for longer periods of uninterrupted work time.
  4. Supportive spouse: Your spouse has to value your being at home with the kids. They also have to realize that you’ll need some help. Maybe they can go to work later one day or come home earlier one evening so you can get some child-free work time.
  5. Kid space: Depending on the age of your kids, consider setting up some child-friendly office space. Maybe your youngster has his own computer with kid’s games, coloring, etc. Give him some projects and make the supplies special. For instance, he can only play with those toys during “work” time. Do not expect to get phone calls or schedule any meetings during this time, but it’s a good time to go through the mail, inbox, etc.

Need More Hours in a Day? Create Some!

Making More Hours, LiterallyYou’ve got 15 voice messages, 40 emails, your phone is ringing; the kids need breakfast and to get to school; the dog needs to be walked and you have a flat tire! At this point you’re ready to pull your hair out, and beginning to wonder if you have enough time in the day to get everything done, including tasks that were left over from the day before.

It’s easy to get wrapped up in life’s responsibilities and curve balls, which can kill your momentum and put your day in the trash can.

Thanks to Entrepreneur Magazine, we have some tips on how to make the most of your day:

  • Create a zero-tolerance list: Make a list of things you should stop doing—your distractions. For instance, checking Facebook between tasks, watching television while you work, or anything else that may keep you from getting your work completed.
  • The rule of thirds:  You should dedicate one-third of your day to prospecting for new buyers, one-third to executing business tasks and the remainder to supporting existing customers. Most people tend to focus on one or two of these areas and forget the other.
  • Five people to thank: Who are your top five customers? Or who were the last five people you conducted business with? Take the time to write each customer a note to check in and see how everything is going, find out if you can help them any further and thank them for their business. If you keep them on the top of your mind, they’ll return the favor.
  • 30 minutes of media: Take 30 minutes twice a week to shoot and post a short personal video message to prospective insurance buyers, about anything from current industry outlooks, why life insurance is important, educational information, etc. This can help drive customer perception of your company and potentially create new leads.
  • 10 replies a day: President Obama responds to 10 written letters every workday. It’s one of his rituals–and it’s just plain smart. Put the practice to work and commit to replying to at least that many e-mails, blog comments or tweets each day. This simple gesture improves loyalty.

Tips and Tricks of Successful Leaders

LeadershipLeadership guru John Maxwell once said that “Leadership is not about titles, positions or flowcharts. It is about one life influencing another.”

Have you recently sat back and thought about whether your leadership is worth catching? Are your leadership skills the type of influence you want to project onto your team?

In the world of insurance sales, your team will hit highs and lows—just like every other industry. But it’s your leadership that determines whether or not your team weathers the storm.

Entrepreneur Magazine has compiled the 10 tips from successful leaders that can help you become a leadership great:

  1. Build a dedicated team: Having a dedicated team is integral to success. The key is in how to hire effectively, says leadership trainer Harvey Mackay, who wrote Swim with the Sharks Without Being Eaten Alive. “A colossal business idea simply isn’t enough. You have to be able to identify, attract and retain talent who can turn your concept into a register-ringing success,” he says. You need to hire employees whose values are aligned with your companies’ values, mission and purpose; in order to create a bond that can survive the ups and downs.
  2. Overcommunicate: Talk with your staff! Find out what’s going on with everyone and open that doorway to open communication within your company. Suzanne Bates, a Wellesley, Mass.-based leadership consultant and author of Speak Like a CEO, compiles a weekly news update she calls a Friday Forecast, and emails it to her staff. “My team is always surprised at all the good news I send out each week,” Bates says. “It makes everyone feel like you really have a lot of momentum, even in difficult times.”
  3. Don’t assume: Don’t assume that everyone in on your team understands your goals and mission. Even if they do, it helps to remind them of where the company is going and what the future holds for them. “Entrepreneurs have the vision, the energy, and they’re out there trying to make it happen. But, so often with their staff, they are assuming too much,” says Beverly Flaxington, founder of The Collaborative, a business-advising company in Medfield, Mass. “It’s almost like they think their enthusiasm by extension will be infectious — but it’s not. You have to bring people into your world and communicate really proactively.”
  4. Be authentic: Be yourself; instill your own personal values and principles into your company. “If you be yourself, and not try to act like someone else, and surround yourself with people who are aligned with your values, your business is more likely to succeed,” Flaxington says.
  5. Know your obstacles: “You need to know what you’re up against and be able to plan around those things,” Flaxington says. “It’s folly to think that just because you’ve got this energy and enthusiasm that you’re going to be able to conquer all. It’s much smarter to take a step back and figure out what your obstacles are, so the plan that you’re putting into place takes that into account.”
  6. Create a ‘team charter’: Creating clear goals and direction is an important factor in your company succeeding.  “It’s important to create a set of agreements that clearly states what the team is to accomplish, why it is important and how the team will work together to achieve the desired results,” says Ken Blanchard, co-author of The One-Minute Manager . “The charter provides a record of common agreements and can be modified as the business grows and the team’s needs change.”
  7. Believe in your people: Especially in rough economic times, it’s important that your team has confidence in themselves to keep on going. As Napoleon Bonaparte once said, “Leaders are dealers in hope.” That confidence comes in part from believing in your team, says leadership coach John Maxwell. “I think of my people as 10s, I treat them like 10s, and as a result, they try to perform like 10s,” he says. “But believing in people alone isn’t enough. You have to help them win.”
  8. Give out credit: The sound of your name being spoken by someone else in praise is one of the sweetest sounds to a salesperson. “Many entrepreneurs are too in love with their own ideas and don’t know how to distribute credit,” Mackay says. “A good quarterback always gives props to his offensive line.”
  9. Keep your team engaged: Great leaders give their teams challenges and get them excited about them, says leadership expert Stephen Covey, author of The Seven Habits of Highly Effective People (Free Press, 1989).
  10. Keep Calm: An entrepreneur has to backstop the team from overreacting to short-term situations, says Mackay. This is particularly important now, when news of the sour economic environment is everywhere.

May Celebrates Disability Insurance Awareness Month

May is Disability Insurance Awareness MonthOn May 1st, the LIFE Foundation kicked off Disability Insurance Awareness Month, which encourages people to start thinking about what may happen if they were injured and left unable to work and keep a roof over their family’s heads.

While many people believe that a big house, nice cars and clothes are their biggest assets, it’s actually their ability to work and earn a living—allowing them to enjoy such luxuries. This is where life insurance and mortgage disability protection insurance comes in.

In fact, statistics show that in the U.S., a disabling accident occurs, on average, once every second!

Many believe that disability insurance isn’t needed because benefits are available through Social Security or workers’ compensation. However, the LIFE Foundation revealed that “45 percent of those who initially apply for disability benefits through Social Security are initially denied, and those who are approved get an average benefit of just $1,063 monthly—hardly enough to replace the average worker’s income. Workers’ Compensation covers only work-related disabilities, but according to the National Safety Council, 73 percent of disabling accidents and illnesses aren’t work-related.  The U.S. Department of Labor also reports that over 70 percent of employers do not offer long-term disability coverage.”

The U.S. Department of Housing and Urban Development reported that nearly half of all foreclosures are caused by disability. On top of that, according to the Social Security Administration, one in five people suffer long-term disability before the age of 65.

National Agents Alliance has multiple options in protection to ensure that families are protected in the event of an unfortunate accident that leaves the bread winner unable to continue to support their family. Here at NAA we can offer mortgage disability insurance in conjunction with life insurance, so that individuals are protected against death and disability, or as a stand-alone disability policy.

It is a comforting feeling to know that your family is protected no matter what life may throw your way. Be sure that your clients know of these options and facts!

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