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Repetition is one of the most impor- tant skills to learn to use if you want o become a successful insurance and
financial professional. In my speeches, I often
joke the best way to train husbands, children,
insurance agents, prospects and clients is
repetition, repetition, repetition.
Repetition is part of the science that
advertisers use to sell products, ideas and
even political candidates. If we hear something repeatedly, we start to think it is true,
even if it is not.
As advocates and advisors, we make the terrible mistake of assuming our ideas and information are so powerful that our prospects and
clients cannot possibly resist taking immediate action. But the truth is that in most cases,
they do not understand what we are talking
about and, in some cases, do not even believe
what we are telling them.
When your prospects and clients hear over
and over that cash value life insurance is not
a good investment, or that they should buy
term insurance and invest the difference, or
that no person can time the market so they
must lose 30, 50 or even 70 percent of their
money if they want to make money in the
long term, they start to believe it.
Then you show up and tell them something once or twice that is totally different
than what they have heard a thousand times
before. Who do you think they believe?
The expert use of questions is the only way
to counteract the science of repetition. Questions help our prospects and clients recali-brate what they perceive to be conventional
wisdom. Ask your client if the conventional
wisdom could prevent them from achieving
success or even be harmful to them.
This builds on the discussion from January’s
column. I am more convinced than ever we are
about to experience one of the greatest
economic disasters in history. It is almost
here. It will severely impact our country and
its markets. Stocks, bonds, real estate and
commodities will all experience negative
results in the months and years ahead.
The governments of the world, including
our own, have thrown their people under the
bus. They have used negative interest rates
and quantitative easing and outright money
printing to delay the inevitable. But they did
not fix anything, and they have actually made
the coming crisis much worse.
I have been predicting this would happen,
in this column and elsewhere, for over two
years. So far, I have been wrong. Why aren’t
my prospects and clients furious with me?
Why are you still reading my columns?
Because I never tell my prospects and
clients what is going to happen. After all, I
do not know what is going to happen and
neither do our governments. My opinion does
not matter. Instead, I ask my prospects and
clients a series of questions about what they
think will happen, and then I help them plan
As I have explained before,
Americans are much more afraid
of losses than they are of missing
out on gains. Ask your prospects
and clients whether they would
be more angry with themselves
if they missed out on 10 percent
in gains in the market or more
upset if they saw losses of 30, 50
or even 70 percent of their investment.
They will tell you how they want you to proceed. But you are one of the only people who
can help them reason it out. Once they do,
they will be emotionally invested in the decision they made. In this manner, you will be of
real service to the people you call upon. RA
When teaching clients, repetition is key