1. CREATING THE RIGHT FIRST IMPRESSION
The First Five Minutes
CREATING THE RIGHT FIRST IMPRESSION

3. Your company has just hired a new co-worker who is: very good looking, rich, intelligent, blunt and independent, How would you rate this person on the following characteristics
Successful OR Unsuccessful
Humble OR Proud
Confident OR Insecure
Dominant OR Submissive

4. What are we covering? 1 2 3 4 5 Positioning Your Role Key Elements
Elevator Speech 3
Different Approaches 4
Your initial face-to-face interaction is a priceless one time opportunity to set yourself apart.
You want to differentiate yourself from competitors. You need to immediately present your prospects with a unique value proposition.
By planning and executing a well prepared approach, you have an opportunity to not only get your client engaged, but also build trust and credibility from the very first step.
Building Rapport 5

5. Positioning Your Role It’s not just introducing yourself as a person.
You’re simultaneously defining your professional value.

6. Defining your unique role
Your first impression will define your professional persona
OLD SCHOOL
NEW SCHOOL
THE SALES
CYCLE
Clarify Problems & Opportunities
Gather Data
Both are necessary
Both have value
Engagement
PLANNING
PROCESS
Develop
Plan
The sales cycle and the planning process have many similarities.
The difference is; the first defines the product relationship, and the second, the advice relationship.
Your initial approach should be designed to assure your prospect that you’re there for their benefit.
You bring valuable knowledge, skills and advice to the table, in addition to the products you sell.
Monitor
Implement
Your unique value proposition will be some combination of the two

7. Key Elements
Regardless of the form your initial interaction takes, there are certain essentials that are common.
Most elements address a prospect’s subconscious questions or concerns.
You’ll need to assess how well your own initial approach satisfies these needs.

8. First impression
Studies show you have 90 seconds or less to set the tone for a new relationship. You will be judged. Whether conscious or not, most people will ask themselves the following questions...
Do I like this person?
Can I trust them?
Are they credible?
Will they care about me?
We’ve all heard the adage we only get one chance to make a first impression.
People often decide in the first 90 seconds whether they will deal with you.
Very small factors can exert very large effects.

9. Likeability We like people that like us Grooming and manners matter
Seek common ground
Smile, shake hands, make eye contact, be confident
Use the persons name
Demonstrate equal respect to everyone
Determine who the decision maker (or makers) is
This is an emotional or ‘gut’ reaction. People may not be able to consciously articulate why they like you or not.
At the simplest level, we like people who demonstrate that they like us.
It helps to be able to relate to one another. By finding commonality, you transition from stranger to acquaintance.

10. 9 x 1 = 9 9 x 2 = 21 9 x 3 = 27 9 x 4 = 36 9 x 5 = 45 9 x 6 = 54 9 x 7 = 63 9 x 8 = 72 9 x 9 = 81 9 x 10 = 90

11. Credibility Clients will want some reassurance that you…
Put their interests first and offer unbiased information and opinions
Have the necessary knowledge, skills and experience
Can access appropriate tools, processes, products and resources
Have examples that you’ve done this type of work for others like them
The primary reason our industry is so regulated and clients tend to be so skeptical, is because we touch one of the most sensitive aspects of their lives – their money.
You’ll need to make clear to your prospects that you’re backed by strong and well regulated distributors and financial institutions.

12. Trustworthiness 1 2 3 You personally Your organization
You need to foster trust on three levels:
You personally
Background, credentials & references
Transparency & reliability
Clear & timely communications 1
Your organization
Who helps you?
Who backs you up? 2
The press loves stories about rogue financial advisors that steal millions from clients or institutions.
Your prospect wants assurance that you’re not one of them.
Give them ways to check you out for themselves. They might not take you up on it, but the fact that you offered and gave them a way to do so, can go a long way to building trust.
Prospects also want to know that you’re not just a one man band. Explain how you’re supported and backed up by other credible people and organizations.
Your industry
How safe is my money?
How am I protected from ‘bad apples’? 3

13. Elevator Speech
The key to creating high initial impact is preparation.
The elements of your speech should be:
Clear
Compelling
Concise
Consistent

14. Spontaneous and natural?
Script or no script? OR
There are two schools of thought.
First. It’s best to be well prepared; even scripting the exact words and manner in which you deliver your introduction. Or…
Second. By adopting a more natural, and spontaneous approach, you will have greater appeal.
Most coaches recommend a more scripted approach. Professionals are prepared – amateurs wing it.
Having a scripted approach is not meant to be “canned” or artificial. It means that when the advisor is well prepared,
they can deliver their message in a confident, consistent, concise and impactful way.
Planned and practiced?
Spontaneous and natural?

15. Planned introductions
You’re the professional, take charge
Set the stage when the interview is on your territory
Manage the stage when you meet on the client’s territory
You’re the professional. Don’t be afraid to take charge.
choose the seating
minimize distractions
offer a refreshment
set the duration and agenda
come prepared
plan follow-up
Many advisors aspire to hold more of their interviews in their own office.
When the initial meeting is on your territory, give some thought to managing the whole stage.
You have control over such things as;
appointment confirmation
hours
displaying your credentials
parking
welcome / greeting
décor
seating
reading materials
refreshments
Some advisors still consider it value added to meet with the client at their place of work, home or sometimes neutral territory like a coffee shop or restaurant. You can still manage the setting for a more positive introduction.
Control distractions by choosing a setting conducive to a private, business conversation
Be respectful by showing up on time and prepared
Pay attention to small things like where you park, not walking on the lawn, acknowledging pets and removing shoes

16. Spontaneous introductions
Sometimes you’ll be called upon to introduce yourself with no preparation or rehearsal
Meeting prospects in social settings
Face-to-face introductions from clients
Proactive approaches to prospects
A skillful advisor is always looking for and is prepared to introduce themselves professionally, when the right opportunity comes along.
A well drafted Elevator Speech is the foundation of this preparation.
You need to be ready
Your ‘Elevator Speech’ is essential

17. Elevator speech examples
“Do you know how most people spend more time planning their family vacation than they do on their retirement program?
Well, what I do is help people understand their goals and create a financial roadmap to help them reach their retirement destination.”
“Do you know how most people go to the doctor for an annual check-up? Well, what I do is provide a physical for your financial health.”
“Have you ever looked at the directions to put together an IKEA piece of furniture?  I put together people’s “financial furniture”.  I take the gibberish and complications out of people’s financial situations and put them together quickly and efficiently so they can enjoy them.”
This is your chance to be genuine and express your own passion about the business.
A good elevator speech will:
Arouse curiosity
Identify a target market
Identify the problem you solve
Express how you are unique
Include a call to action
Have humour
“I help people avoid becoming Wal-Mart greeters during their retirement years."

18. Different Approaches
Like all other parts of your business, you need to choose what methods fit your own style.

19. A simple introduction
I’d like to start our meeting today by introducing myself professionally…
Attention grabbing idea
Who am I
Who do I represent
What do I do
Who do I do it for
How can I help you
Imagine this crucial moment from the clients perspective.
They initially have no idea whether you’re the best advisor they ever met, or the worst one out there.
You’ve got to start by grabbing their attention, or little else you say will have much impact.
You need a statement that either arouses curiosity; disturbs or intrigues them in some way.
Once their paying attention, they need questions answered and facts they can verify and trust.
Remember the client psychology of this moment:
Products = Sales Sales = Pressure Pressure = Resistance
Do not include a laundry list of all your products and services.

20. LIVING TOO LONG
MARKET CRASH
PREMATURE DEATH
ILLNESS
INJURY

21. A classic – the Ben Duffy approach
“In preparing for today’s meeting, I put myself in your position, and I thought there may be some things you’d want to know about me; about my company; what’s in it for you, and what’s in it for me.
As such, I’ve prepared a list of ten questions.
Are some of these on your mind?”
Many years ago, Ben Duffy was a new and unknown industrial sales agent. He wanted to approach a large account. He didn’t have any special product or pricing advantages,
so Ben felt his chances against his competitors were slim, unless he found a better way to approach “Mr. Big”.
Ben believed when most people feel they are being ‘pitched’ they instinctively come up with reasons why NOT to buy the product. He decided he needed to look at the approach from the prospect’s perspective and come up with a list of reasons why a customer might NOT do business with him. He could then deal with these sales barriers upfront.
He put himself in the shoes of his prospect and wrote a list of 50 things that he thought might be on the prospects mind. He then narrowed this down to the 10 most likely. When he approached his prospect, he found that he too had a list of questions, and eight out of ten matched Ben’s list.
Ben made the sale; became a very successful sales person, and his approach gained fame.

22. The compliance approach
“Regulators and advisors have agreed, that before we do business, there are six things that we each need to know about the other.”
WHAT YOU NEED TO KNOW 1
I’m legal 2
I’m experienced 3
I have professional credentials 4
Who I represent 5
How I get paid 6
Do I have any conflicts of interest
WHAT I NEED TO KNOW 1
Family information 2
Employment information 3
Financial information 4
Your goals 5
Your risks & concerns 6
Your investment profile
Every province now requires a client to see and sign an advisor disclosure form before they purchase a financial product.
Often, advisors only pull out the form at the last minute, when they’re trying to get a signed application.
It then adds to the clutter and tension of trying to complete the sale.
This method uses your disclosure form as an introduction and marketing tool.
You may even want to prepare a ‘client friendly’ version of your disclosure to be used during your initial introduction.
Work with your manager and/or your compliance officer to make sure your client friendly version is not in conflict with your official regulator approved version.
Be prepared to provide specific points regarding your own business model

23. Transition to fact-finding
Regardless of your preferred method of introduction, here are three points you should always cover next
When’s the last time you spoke to a financial advisor?
Let me share our agenda for today….
In addition to the agenda, what else would you like to discuss?
Client interactions, whether initial or subsequent meetings, usually begin with some small talk and then move to your introduction.
These three questions can help you move smoothly into the next portion of your interview; usually your fact-finding.

24. Building Rapport
Those first few minutes are not just an opportunity to explain to someone what you do.
All face to face interactions give you an opportunity to strengthen and deepen your relationship
by paying attention to small but important details.

25. Complimentary strategies
INVESTMENT
RAISE THE BAR
Invite them to a meal
Use a personal website
Invite them to “events”
Audio/Video business card
Electronic communications
Office is an “experience”
Involve your staff
Electronic newsletter
EFFORTLESS
PERSONALIZED
Use their name
Research backgrounds
Create a compelling business identity
Ben Duffy Approach
Memorize your introduction
Disclosure Strategy
Take the initiative
Network on their behalf
COST
In addition to your introduction, there are many other things you can do to build rapport and enhance the relationship quickly.
Some take little time and effort. Others may be worth the time and investment to add to your approach.
COMPLEXITY

26. The 12 fastest ways to build rapport
Be on time 1
Repeat their names 7
Dress appropriately 2
Be friendly 8
Smile 3
Demonstrate an interest 9
Make eye contact 4
Listen with interest 10
Todd Smith is a consultant who specializes in the small, seemingly simple acts that carry the most influence in your sales relationship building efforts.
Your handshake 5
Sincere compliments 11
Make your welcome stand out 6
Model them 12
Todd Smith –

27. The power of likeability
Be Honest
Avoid Hostility 1 6
Be Humble
Be Polite 2 7
Learn Empathy
Intelligent Behaviour 3 8
Laugh Often
These points come from extensive study and a survey with a wide variety of people to confirm the most influential factors of likeability.
Attractive Appearance 4 9
Be Positive
Listen More 5 10
William Cottringer, Ph.D

28. Your credibility strategy
People give credibility to people they like 1
People believe what they read 2
People believe those who can PROVE their expertise 3
Credibility is given to those who can empathize 4
Michael Lovas is a sales consultant who has done extensive research into advisor credibility.
In addition to these tips on improving your credibility, Michael also believes many advisors make the same credibility blunders.
His research tells him that knowledge and credentials often don’t provide advisors with credibility. In some cases, it actually hurts it, by alienating prospects.
Credibility does not come from your products or companies. It only comes from you.
Credibility is also something not granted all at once. It must be built, bit by bit, over time.
Credibility is a highly personal exchange 5
Michael Lovas –

29. What can you take away from what you learned?
Immediate Use today or tomorrow
Develop and practice your own Elevator Speech
NEXT LEVEL Take it up a notch
Choose and practice a more organized and professional initial approach
Significant Change the way you work
Design and introduce an initial engagement process that strongly speaks to your ideal client
Taking action is the only way to reap value from this information.
Whether it’s a simple as polishing your Elevator Speech or redesigning your entire initial approach,
Your goal is to create a stronger first impression, that will enhance your chances of doing business.

30. Universal Life Estate and Wealth advantage
Next we’ll look at universal life. [click]

31. Thank You!