SIX WORDS TO LIVE BY

1. SIX WORDS TO LIVE BY

2. What does it mean? • Al Granum simplified success in our business in six words: • Be referred • Get facts • Practice CLU

3. What does “Be Referred” mean? • The best way to build a clientele is through referrals because: • Referrals have a higher chance of success than a cold call. • Asking for referrals allows you to qualify the individual – increasing the likelihood of being referred to someone who meets your ideal client profile. • Asking for referrals enhances your relationship with your existing clients. It reinforces for them that you are someone they like, respect and trust (otherwise, they wouldn’t be referring you!) • It decreases the time to develop trust with your new prospect. Source: Building a Financial Services Clientele by O. Alfred Granum, Barry Alberstein, and Delia Alberstein 10th edition

4. What does “Get Facts” mean? • Build a relationship with a potential client by asking good questions and listening. • Al defined four objectives of a good factfinder: • Get the facts – ask all your questions, give them time to answer • Do some advanced suspecting – look for opportunities to feed names later • Reach the inner person – get feelings as well as the facts • Build your prestige – demonstrate your professionalism Source: Building a Financial Services Clientele by O. Alfred Granum, Barry Alberstein, and Delia Alberstein 10th edition

5. What does “Practice CLU” mean? • The CLU pledge of The American College is our industry’s version of the Golden Rule: • In all my professional relationships, I pledge myself to the following rule of ethical conduct: I shall, in light of all conditions surrounding those I serve, which I shall make every conscientious effort to ascertain and understand, render that service which in the same circumstances I would apply to myself.

6. Why did it work? • Simplified our complex business and pushed all of the “noise” to the side • Provided focus on the most important aspects of the business • Put the client at the center of a practice • Defined success

7. Others who agree • “Simplicity is the ultimate sophistication.” ― Leonardo da Vinci • “If you can't explain it to a six year old, you don't understand it yourself.” ― Albert Einstein • “Any intelligent fool can make things bigger, more complex, and more violent. It takes a touch of genius — and a lot of courage to move in the opposite direction.” ― E.F. Schumacher • “Truth is ever to be found in the simplicity, and not in the multiplicity and confusion of things.” ― Isaac Newton

8. How can the six words help you? • They serve as a reminder to not get bogged down in the complexities of the business. • They create an opportunity to define the revenue- generating activities in your practice. • They help (especially on a bad day) to bring focus to what is most important.

9. Questions to Discuss • What complexities get in the way of running your practice? • How have you worked to simplify your practice? • Are Granum’s six words your words? If not, what are? • How do you demonstrate the CLU creed? • What is your key take-away from today’s discussion?