Business Format System

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Business Format System
New Associate Training Series

• Prospecting

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Prospecting

• Prospecting 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 Market

• In WFG, successful Prospecting can be divided up
  into Four areas
• Natural Market
• This market includes friends, neighbors,
  relatives, co-workers, social contacts and
  business contacts.
• Friendship Farming
• Transforming strangers into friends to create a
  new natural market.
• Friendship Borrowing System
• Relationship marketing through the third-party
  referral system.
• Professional Prospecting
• Using WFG-compliance approved brochures and
  literature.

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4
Natural Market

• Creating 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, dont 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 its not just about who
  you know but also who they know.
• Complete your top 25 prospect List with your
  leader
• Most 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.

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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) Income
• 2) Married 6) Ambitious
• 3) Children 7) Dissatisfied
• 4) 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 youbuy lately? Who sells
  himself/herself well?
• T Teacher. Who comes to mind when I say
  teacherschool teachersor 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?

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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 articlesrelated
  to WFG
• Company approved sponsorship tie-ins

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Professional Prospecting

• Many 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 its 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 (ED MYLETT
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 dont know the answer, write down the
  question and follow up later with an answer.

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PROSPECTING NEVER ENDS

• If you dont have any names to call on, you are
  out of business.
• Use these techniques daily to develop a
  never-ending supply of prospects.
• Youll always have someone to call or somewhere
  to go.