Andy Neary breaks down a $200,000 annual sales target into daily actions: 10 sales needed, which means 20 proposals, which means 40 introductory meetings. Work backwards from your number to find how many cold calls, social touches, webinars, or speaking gigs you actually need each week.
Chapters
Hey. Hey. It is Friday, January 24th. I hope you are having a great week. So where are you with your 2020 goals? You on track? Little behind. Wait, you haven't even started your goal yet. You don't even know what it is. It's been such an interesting week for me. I've had a lot of conversations with insurance advisors asking them that question. Where are you at with your goals? Do you feel comfortable with them? And I'm actually blown away by how many insurance advisors are still focused on wrapping up 2019. We're almost at the end of the first month of 2020, and they haven't even taken the first step in hitting their 2020 goals. If this sounds like you, I want to give you a tip today as part of today's Friday bullpen session, and that is this. Number one, you do need to set a goal, but the tip is you need to reverse engineer that goal all the way down to what you need to be doing every single day to hit that goal. So let's do that for you. Let's give you an example of how you can make this happen. I'm gonna use a sales example because it's very easy to reverse engineer. Your goals might be different, but I think this process is going to help you out. Let's imagine you're in insurance, and your sales goal is $200,000 this year. First thing you need to figure out is what is your average sales size? If it's $20,000, you need to sell 10 accounts this year to earn your $200,000 in total sales. The next thing you need to do is reverse engineer it one step back.
How many proposals do you need to get those 10 sales? What is your closing rate on your proposals? If it's 50% and you need 10 sales, well, you need to generate 20 proposals to get those 10 sales. Now, here's the important step. You need to reverse engineer it back one more step. If it typically takes one introductory meeting followed by a proposal to get that sale, what percentage of introductory meetings do you convert to proposals? Again, that number is 50%. You need 20 proposals. Well, then you need 40 intro meetings to generate those 20 proposals that will help you win those 10 sales. Now, this is where people get screwed up and they continue staring at that $200,000 goal for the entire year. Throw that away. And all I want you to do is focus on those 40 sales in this 40 intro meetings in this example, and start to time block hour, two hours into every single day of every week to do the necessary things you need to be doing to try to get those 40 meetings as quickly as you can? Are you going to be on social media? Cold calls? Centers of influence? Email campaigns? Webinars? Public speaking? What do you need to do to get to those 40 meetings as quickly as you can? That, my friends, is how you take a big goal and you break it down into bite sized chunks and figure out what you need to be doing every single day to hit that big goal. Don't stare up at the top of the staircase, it's way up there. Just stare up at the next step and take it step by step by step. So go out, make this the best Friday you've ever had, and take those necessary steps that you need to take to crush your 2020 goals.
