Interview:
Objectives:
To convince the candidate/recruit that you are interested in them.
This comes through the use of good questions and by listening intently. It is also important to learn the candidates hot button. – Hot button is why they are in front of you. Why are they are looking for a new job.
You are looking for someone:
1.Who has a job
2.Coachable
3.Smart – quick to understand the concepts
4.Competitive
5.Compassionate/empathetic
6.Unmeasured quantity – do you want to work with this person the rest of your life?
You need to show confidence and competence in your presentation.
You set the pace and the tone of the interview.
You make sure that the interview ends on time.
So announce that you will need to leave in about 45 mins. This way if they are awesome, and you go past the 45 you can tell them as it gets close that your other appointment is not as important as this one.
If they are not awesome – find a way to cut the interview short and STEAM them.
Put the pressure on them from the start take control of the space and time. Be directional where they are to sit.
After all this before you start you need to listen to Bob Safford if you listen to this you will be a monster in the interview process.
I will include that audio.
As you prepare for the interview, make sure the place you are at is good to do the interview.
And make sure you have your Laptop/Tablet and it is powered and charged.
Have a How Money Works – book
Paper FNA
100k book
Page 1 - they do not see this.
Start off learning about them – the key is listening – take note to what they elaborate on.
Put away your modesty card. You are looking for someone who has accomplished more that getting up that morning.
When did you start making money – You are looking for someone who is a hard worker and someone who is not lazy.
Walk me through your career - focus on the change from one point to another…you are looking for hot buttons.
Ask questions to see why them moved…what caused them…see if they are negative of their change or if they changed because they were looking forward.
Greatest asset – and character - for success
Random sampling – This is to set up STEAM later on – if they are good – no issue for the steam – if they are bad you have to STEAM!!!!!
Page 2
Top Reasons
Read them the questions – and look for hit points as you read the statements.
Eyes widening – head nodding – lips moving with you
Then you ask – so of these reasons, what 2 appeal to you the most?
Listen very carefully to what they respond. Now Tom Hopkins says that what we provide is what they need. They need this opportunity period, so it is your job to help them get to that decision.
3 things you need to have – 100k earner book – Paper FNA – HMW book. Through the questions so far you should identify their hot button. IF they are money motivated –100k book. IF they are wanting to help people – FNA IF they want an financial education – HMW book. Wait until the right moment to introduce those aids to the closing process. NOT NOW. Listen – ask questions.
So if they hit 1.
Ask why
If they hit 2
Ask why
If they hit 3
Ask why – um I think you get the idea.
If they don’t hit 5 – this is very important for people who you want to work with.
Ask them why they don’t want a business. True wealth comes from owning a business. PERIOD, if you don’t know this, tell me who recruited you so I can talk to them.
You want to learn from the potential RVP what they want and then you help them see the unlimited potential in PRIMERICA.
Page 3
You should have this page memorized and the facts about our company memorized – but not rushed.
Have you heard of us? If no, say I am not surprised, we do not advertise –
3 circles – we pour our advertising money into our product to keep it low so that it is extremely affordable, we pour it into our agents commissions offering the highest in the industry and we send them on 2 trips a year to some of the best resorts in the western hemisphere, and we pour it into our clients providing a free financial needs analysis. -
If yes say great, I was wondering if you knew that we were…and be ready to answer any objections.
Pyramid – No pyramids are illegal, and we are in one of the most regulated industries in the world. But if you ask it in another way are we a corporation…why yes we are just like McDonalds – or if you have done your homework name their job. Wouldn’t you agree the people closest to the money make the least? So ask them if they have a person who makes more than they do at their current employ? When you think about it every corporation could be considered a pyramid scheme in the way you were thinking about a typical American business? There are people at the bottom and as they make more money there are less and less until you reach the top.
MLM – well no, we make no money from recruiting. We don’t have to fill up our garage with products that no one will purchase. And a huge difference, you position is not based on who is above you, but your promotions are based on your decision.You can pass people all the time.
All you do is…Recruit – or Sales or spend money – whatever the all you do is – from their past experience with Primerica – was from a group that was not balanced in their platform. Just like McDonalds or any other franchise - Our group under a fantastic leadership focus on all parts of the business. Hiring, training, and helping families.
After either of the hits – move to the major points of the page
Hit all the points and then close with us being on the NYSE – know the story – Citi-group – freedom in 2010 went public at 15.88 IPO – Initial Public Offering – do you know what was happening in 2010 in the financial world? There were only 157 banks that failed that year…that’s all. That was the largest failure of banks as the result of 2008. And that is the financial culture our company was born. Today we are trading at – and make sure you know where we are at on the NYSE – give yourself some credibility. Now why do you think we were so successful during these financially cataclysmic times? Three big reasons specifically I will cover. One: our company is not myopic in our financial solutions. You see some companies will focus on one thing, and not help people in other areas, we have a 360 degree financial vision, Two: Our focus is to help the 85% of American families in the middle class. Rather focusing on the top 5, we chose to help the large segment of families that need our help. Third: Our company is incredibly well managed, and this has helped us navigate this troubling times. Pretty incredible isn’t that?
Page 4
Our mission – Up to this point I have been using their last name only, here I draw them in by asking permission to use their first name.
I explain our mission – I also share an illustration of where I sent in a policy when I was new and it was sent back from the company – because I missed a price point in the policy. They gave them 50k coverage for .17 cents less. It blew away the client and I was blown away by the integrity of our company.
This is what we do – Blue – We protect families income – Red – we build wealth for families over 30 years through mutual funds – ask question – Do you know of any company out there that helps families get wealthy? White – We also provide people the opportunity to get wealthy over the course of 5-7 years through the opportunity of becoming a business owner. Do you know what the definition of wealthy is? Let them think and then give them the answer…Being wealthy is not having to work to have all your bills paid. Does that make sense?
How we do what we do
We teach people how they money works…
Did you ever know anyone who made a decision without all the facts? Did you ever make that kind of choice? How did that work out for you? Now imagine making mistakes without all the facts when it comes to money? That could have some huge impacts wouldn’t you agree?
Now there are a lot of companies out there that sell products, but our philosophy is to educate our client first so that they have the knowledge to make great decisions. Now let me ask you this question, of all the financial products out there that are being marketed to families, are those families sold those products or are they educated on those products? That is where we are separated from the rest, we educate families first and then we help them get the right product for their needs.
The way we figure out their needs is through the Financial Needs Analysis. This gives them a snap shot of their financial situation, how valuable do you think that would be? Especially when it is free.
And we provide a variety of products and services…
Key points to hit on this page –
First name draw -
What we do
How we do it
Why we do it
Page 5
Wheel of Fortune
Question 1 do you recognize any of these companies? Many of these companies invested a ton of capital to be on this platform. Do you know why? We have over 100k agents and 15k brokers that is far and away more representative than any other company. That gives us a huge amount of leverage in the financial industry. The only thing that manufacture on this list is life insurance. We have the best life insurance in the industry. Just look up “Find the best” or Top Ten life insurance…we are number one in each. We may not be the most inexpensive, but when compared, no one can compete. – Do you currently have life insurance? If no – is it because you have not thought about it, or was it because you though it was not affordable, or just not important? – you can move to close a quote – or just disturb them on not having the coverage – Let me ask you a question? How valuable is your car? Do you insure it? How much do you pay for cable and internet? Well if I could replace your current income so your family would not have to suffer financially for less than either one of those…would that interest you?
Now you let them off the hook by saying, “Did you see how I just asked you some simple questions and you saw the need of one of the greatest financial product for amazing families?” How many families experience the tragedy of the lost of a loved one, and the impact of that untimely death has on the family? Do you see the value of that to families?
Lets take a look at the rest of the products…
Mutual Funds – do you know what those are? – know how to explain them – This is the vehicle along with getting people out of debt that we help families become wealthy, through investment accounts. You ever seen family fued?(only use this question if you have brokered a great rapport) Well we are looking for the top three answers when it comes to “Why americans for the most part do not invest?”
- Risk
- Knowledge
- Capital
No matter what they answer of the three that is the top answer – walk through getting the rest – so that they do not feel uncomfortable getting the wrong answer work with them to get the right answer.
So if I told you, you could start and investment plan for only 25 dollars a month do you think that would be beneficial to people?
So we help teach them how money works, we remove the capital issue and 25 dollars isn’t much of a risk is it? It is the cost of a delivered pizza.
So if we could show a family like yours that they could get out of debt, protect their income, get a will and start building their wealth, do you see how that could be lucrative for the individual helping that family?
This page can be quick or slow, read your interview.
Page 6 – Can I show you a little bit of what we do for families?
Rule of 72
Have you ever heard of the rule of 72? Sometimes called the bankers rule…you understand in a little bit why it is called the bankers rule.
Lets do some simple fifth grade math.
You ever see that game show are you smarter than a 5th grader?
This rule is a simple way to find out the impact of compounding interest.
So if you take 72 and divide it by 1 what do you get? 72 – solets look that again…so for your money to double at 1% it would take 72 years…phew thank God people aren’t making their financial plans getting one percent.
But where are most American’s saving their money? Banks - Getting how what percent? Less than 1 percent…so letslook at the impact of that? Some might say that is pointless.
1% after 60 years = that’s not working is it…that is downright frightening. But here is something more incredible – what is the rate of inflation? About 3 % so the money that you have after 60 years is really worthless in the modern economy.
6% doubles every 12 years – do see how your money starts to work for you? Lets see after 60 years = that is a little better – let me tell you a great quote – People who understand compounding interest are wealthy – people who don’taren’t…it is just that simple.
12% look at that impact – so the fact is this – it really doesn’t matter how much money you make it really matters how much money you save and really what kind of vehicle that money is in.
Wouldn’t you agree with me, the more money you make, the more money you …. Spend – unless you can develop a plan and an incentive to become financially independent. Do you see how powerful this can be in helping families?
2 Illustrations –
- How much money did you average in the last 5 years? Do the math – 25k x 5 = 125k how much do you have left? So you realize this clear fact. It doesn’t matter how much money you make but how much you save and what kind of interest rate you get. So two keys – we need to change our spending habits and our saving habits. Or we need to make a heck of lot more money, but that is why we are talking right?
- Imagine if you will you and your family are in a boat, in front of you is paradise, behind you is a waterfall. You and your family are rowing….so the water coming at you is the rate of inflation…about 3% - and if you have your money in the bank you are only getting 1% is there any hope for you to win?
How do win a game… - Monopoly illustration – have you ever played monopoly with someone who was good – doesn’t it make you want to punch them
Do banks or insurance companies have any… - if they say hey aren’t you an insurance company, and I answer, well that is what separates us from the others we have integrity to teach you so you can win.
Who would benefit… Explain the referral hit here for their benefit
Shouldn’t have learned this in school…
To wrap this all up lets look at this in real life. Lets say you are in front of me at the bank and you deposit 2000 dollars that you just got from your tax return. You deposit in the bank because that is what you were taught to do, work very hard for your money and place it in the bank. And you get 1 percent because no one ever told you that there is other means available to you to win the money game. So I am standing in the line behind you and I need to get a credit card, I need 2000 dollar limit. Who’s 2000 dollars is that? Yeah that is your money they are going to loan to me. Now do they loan it to me at 1% 6% 12% nope, try 25% or better. So you come back in 60 years to get your 3 grand and the back gives it to you, and you had no idea that in that time, they made well over 2million dollars on your money, how does that make you feel? That is why it is called the Bankers Rule.
Page 7
Pay yourself first – a very important discipline to wining the money game.
Now this may be depressing – say this if they are older- if they are younger tell them this may be encouraging.
When you don’t –
So if you put 100 monthy saving at 9% for 40 years
27 – 471 – its just math that is how we arrive through compounding interest
If you wait a year – spend it on a big screen tv – it only costs you 41k
If you wait 5 years – the average car loan – it cost you 175 – you better have purchased a Bentley