Standing Out Against The Competition | 7 Figure Annuity Sales Podcast | Ep. 156

Hey, everyone. Welcome to this week's podcast. I am Chad Owen, and that's all you need to know, because anybody that comes into my podcast wearing that shirt does not need to be recognized.

Which just goes to say, no. If you are only listening to the podcast and you are not watching this on YouTube, you should go to YouTube, search the annuity sales coach and watch this episode.

No, don't save yourself. You will never get that time back.

This is my future.

And look, the that image that you'll see.

This is my party shirt.

That's messed up. It's got no leopards.

Let them see it. I can believe it to see it. And just so you know, I do not approve of that message right there. Okay.

Yeah, but you should, because this is the party shirt.

No, because we're gonna have a good time. But this, this is why I get to wear the black shirts. And this is actually normally what I wear to appointments. But that's why a lot of times in the podcast I actually have these on because I'm actually working, so. Okay. Actually working. I know, it's a rarity. Yeah, I really feel like taking a vacation again. I'm telling you, there's just sometimes. And I don't know what it is, and I do try, and I don't know what we're talking about today, but I can tell you, no matter how well you're doing, there's always this underlying pressure to do better, you know? And I had two days off and no headaches. And then I come back and I'm like, get this massive. And it's been happening for about two weeks now. I get this massive migraine right around 2 o', clock, right? And I'm just like, what is going on? And I'm just trying to recognize the pressure and the stress that I'm putting myself. Because really, I mean, I think, what AM I at 12 million this year or something? Like, almost. And, you know, this week is already looking very promising, but it still happens where I just feel this pressure and the stress. And so when you get to that stage, you know, recognize that and try and take some time off to yourself and figure out what's going on. Because as much as I try when I'm going into appointments, always come in full, ready to go energy.

If you go into appointment with a headache, which I've done before, and I'm like, I mean, I just can't get out of this. So. Yeah, and it's real. It shows I'm real because I have how many agents? Yeah, Chad, he just shows up to an appointment. They already have all the paperwork out and they just signed the application. It is not like that.

It's a grind.

Yeah, it's a grind. It's a grind. So what are we talking about today?

So something that I've come up upon pretty commonly recently is agents losing to other agents. Now that would imply that there are agents winning to other agents. You know, point is, you go, you meet with a client, they're meeting with two, three, four other advisors or agents that all are bringing their own products.

17. No, that was 17 different people.

Did you win it?

Yep.

Nice.

Stinking question is that.

So I want to talk about. How do you, how do you actually make sure that you're the one that ends up being able to work with that client over?

Have Bob, gmail.com or susia gmail.com have.

A website with a domain.

Have your website with the domain. You know, when people, people are trained now to go and check out who you are online. Sure. If you don't have a website. I have a Facebook page. I have, you know, Chad Owen is my Facebook page. Chad Sion is my professional Facebook page. Yeah, I think I have an Instagram, you know, I mean LinkedIn, I've huge LinkedIn following. I think I'm up to 23,000 right now. LinkedIn. And the reality comes into they all that stuff, they can find me on all those places and they go, oh, this person's real. This person is legit. And I have helped agents before. Even in our inner circle where I'm going, I can't find you anywhere. And so when we're trying to get that recognition or notability, that's one way you can lose out. Because I've done that before in an appointment, somebody will say, well, here's this agent showing this and I'll Google their name and they won't show up. And then I Google my name and literally six pages it's dominated by. But even if you can't be dominated that way or you can't dominate in that way, you can go, here's my website and you can go directly to that. I've seen some folders where I'm going to get if they leave information, because a lot of agents don't leave any information. They don't leave illustrations, they don't leave product brochures.

So ask them what they leave you.

Exactly. And so if that's the case, then I show them what I made or the kit I leave behind with them and that I have a book and that makes a big deal. And then the other thing is you look at their folder they might have left behind, like you said, they may have just stapled some things together or they'll do it black and white. I do everything color. I use a higher quality paper because I want them to know that I'm serious about this isn't just a hobby that I'm doing. I am an expert in this area and I allow my materials to speak for that. So that's another reason why you can lose it. Another one is I know beyond any shadow of a doubt and that I will always have the top product for per each client situation. Yeah. And I know that. So how am I going to lose a deal to someone when I know I already have the best product? And we have a proprietary product that we use. And right now it has been Since August of 2019 for income and index, it has been number one for an annual point to point. So when I'm looking at that scenario, I'm going, okay, I know I can't be beat. I have a really good website, I have a great Internet presence. I have really good materials. I'm leaving behind. How can I lose? And it's not saying I don't. I have definitely lost some deals to brokers. It's not often, but I do where the broker just, hey, they've known them for 30 years and they just are still fine with market volatility.

Right.

I, I do not close every deal. I think I'm at what, 50% or 40% of what? What? I close. The number of people I meet with, I close.

Oh, no, it's, it's 707.

Okay.

If you, if you have an appointment, it's, it's almost certain. If you.

Well, your metrics. No, is not almost certain.

Well, but I'm saying, I'm saying your appointment process is strong enough. Is strong enough that you have a better chance with your process of getting the deal than you have of losing it.

So 70% of people, 70% of appointments.

End up being deals. Now I will say this too. That's not 70% of cases, that's 70% of appointments, which would include second appointments. So if you factor in a percentage of cases, I'll bet you it's actually closer to 90% of the, of the individual clients that you meet with end up closing. Now maybe they go to a second appointment. And, and so that second appointment skews and reduces that percentage a little bit.

Highest percentage is the second appointment of closing. And every once in a while I don't have that many. Over three. Very rare. And it's not because I don't want to give them the time of day. It's because if I can't help you understand the importance of safety and security by the third appointment, then this isn't for you.

Yeah.

And I'm very quick to say, hey, you know what? This is your money, your decision. If you are fine with market volatility, then just stay where you are. Even that statement gets people, no, no, no, I don't want to have market volatility. And so they'll, they'll switch back. But why I didn't know that. So 70%. Yeah, that makes me happy because man, I remember when I was starting this business it was about a 30% closure ratio.

So on the people you met with. Yeah, it's just a refined process. It is a refined, you know what I mean? And now taking that process and giving that to other agents.

What is funny because then I used to run appointments Tuesday through Friday. Now I only run appointments Tuesday through Wednesday and, or Tuesday through Thursday. I'm even getting some days like right now I have Wednesday and Thursday booked up, but Tuesday I don't have anything. And what was it last week or the week before? I only ran appointments on Wednesday and I still had a really, really good week. So you know, with the refine process, I don't have to run as many appointments. Now I'm still very busy because now I'm doing coaching and mentorship and. But the reality comes into you want to be the top person that goes and meets with that client and then all that money, energy, effort. Now I do not close 70% of leads. I know that, not even close because I so many people I call, they've got 20,000, $25,000 to their name, if that.

Right.

And I'm just saying, hey, I'm sorry, a person I just talked to today had 400,000, but they were 86 years old. And a lot of people would write an annuity for an 86 year old. I just don't, I say, hey, you know what, at that age, just keep it liquid. I mean I'm not a big risk person. So I say you can do that you want, but the reality is at 86 years old, I'm not going to tie your money up in a three or five year annuity. You know, it's just doesn't make sense to me. But you know, so there's a lot of people I say no to.

Right.

And actually clients respect that when I told them this other guy, he had between his mom and his mother in law is over a million dollars. And I said, and she was 94, the other was 92. And I'm just like, don't, don't go into an annuity. And he's like, wow, you're the first one that said that. And he goes, it was my gut feeling, but you're the first one that actually said that.

Just because you can get a deal.

Doesn'T mean you should all the time, man. Just, it's not worth it. Do what you know is right and not for the sake of the sale.

Well, that's why it's so important to have a surplus of leads.

Yeah.

You know what I mean? Because if you feel like you have to get. Oh man, I got, I got 10, 15 leads this month. I've got to close, you know, however many. And you're not booking very many appointments, so you don't really have that many cases you're actually working on. And you're like, oh, gosh, I probably shouldn't, but I need to. At that point, it's more about you than it is your client. And if that's the way you're doing business, get more leads, buy more leads so you can be more selective.

You know, I just had an interesting thought. I probably turn down 3 to 5 million dollars a year in business.

Yeah, I know. This year you've already turned down an $800,000 deal. One deal could have been 800,000.

That's true. And I could have, I know I could. They said, I'll do whatever you tell me to do. And I was like, you know what, I could get you two, three more hundred dollars a year and. But we restart the whole surrender schedule and it's like, it's not worth it. And you have good companies you're already with. But they would have absolutely. And suitability wise, I could have gotten it through, sure. But it's just like it's not worth restarting all your surrender. It just doesn't make sense.

Yeah.

And so, yeah, I was. That is interesting. I've never really thought about how much I would do if I was able to write the business I know I could write.

Oh, you. I mean, last year would have been over 30, I'm sure. Over 30 million. I'm sure.

I can think of a $2 million deal that I didn't do last year. And it's just once again, not a good circumstance.

Well, again, it's always about what is best for the other person across the table. And you tell people this, and I think this goes to build so much trust, but it's. This affects your retirement far more than.

It affects mine, Correct?

It does.

It does.

I mean, it's a truth statement, but it also is a trust statement because now they realize, oh, wow, this is not about them just closing a deal. They're actually here to try and help me out.

Well, a million dollar annuity does not make or break me.

No.

You know, not even close. $10 million doesn't make her. No, it's. It's what I want to be able to go home at night knowing I did the right thing for my client.

Yeah.

Not how much money I made that day. And selling annuities that I shouldn't be selling.

Right.

That's a bad thing for me. I wouldn't be able to sleep doing that. Yeah.

So, yeah, I mean, figuring out how are you going to actually position yourself as the one to get the deal, the one to work with your client versus other agents, obviously, the professionalism, the branding, the documents, the leave behind kit, all of that. But I. That's where. That's where I find the greatest value is did. Did you.

Uncover their problem? What is the problem? And if you did, did you find the best solution for them? Because the client will go based on the solution. You see what I mean? You don't need to get into the, you know, oh, this product does that and this product does this. It's like, no, you told me that this was the problem. You told me that this is what we need to do this. Well, you uncovered based on the things that they told you. You uncovered that this is what. Yeah, because you're doing a fact finder. If you're not, you should be doing a fact finder to where you're actually uncovering the problem. If you uncover the problem and you take out the best thing for that solution, what is going to win? I'm sorry, what's going to be?

Just cannot take. You serious right now because of my shirt. I'm like, I'm just looking straight into the camera going, yeah. Now the reflections right in front of me too. Because we have a window in front of us.

Caleb, this is a great shirt. This is a party shirt. I can't tell you how many deals I've gotten wearing this shirt.

You talk on the phone, nobody sees you. Okay. Wow. Okay.

So funny.

Let's just say if I ever wore that a shirt to appointment, they might.

Think you're tiger King.

Okay, that's not what I want them to think. But okay, Joe.

Exotic.

Yeah. I actually used to know someone that called themselves the Annuity King. Yeah. And I don't even know if they're still around. This was about 10 years ago. So I'm gonna. Once we get off this, I'm gonna Google Annuity King and see. Actually, you know what? I'm gonna do that right now. So what else should we talking about?

I think you should. Well, I'll give them a bottom line statement here. You know, just because you find that have the branding, have your. Make sure that you don't just look like a salesman for the insurance company. If you look like you have a business, that's what you want. Did you find it?

Annuity King facing more charges in $6.3 million Florida fraud case.

Oh, no.

Wow. Okay, so that's. Yeah. The new God. You see, this is what you get when you call yourself the Annuity King. Holy cow.

Just a lot of dirt.

Yeah, that's a lot of dirt.

Wow.

Okay, so be, be.

Convey yourself as more professional. Be a better expert. Find the problem and find the best solution. And if you do those four things, the case is yours to lose. Well, better yet, the case is yours to win. Because what client in their right mind is going to go a different direction other than the person who has the greatest professionalism, the greatest expertise? They found the problem and they brought the best solution. You do those four things that you're. How are you going to lose?

Well, and that's the reality because once again, you go behind. Just so you know, Annuity Queen, there's nothing negative so far about that.

Annuity Queen.

So it's Annuity King that was the problem. So. But you know, really, once again, you want someone after you meet with them to have that wow factor. Oh, yeah. And everything we do, I mean, I own a company called Increase you, which is increase and then the letter u dot com. And I say all the time I want people, when we do something for them, whether it's a branding packaging package, it's a acceleration incubation, acceleration company. I want them to go, how? I've never seen anything like that before. When I meet with my clients and they're the ones that redid my logo. Increase.

You did, and they had to sell you on it.

Oh my gosh. Well, actually I was voted. I said, okay, fine, we'll vote. And I thought for sure I would have had more people liking my logo. And I was destroyed. It was 14 to 1. So.

So they know what they're doing.

They do. Well, everybody else conspired against it. It's a conspiracy, man. People are out to get me. But, you know, you've just got to portray yourself as the expert, but follow through with that. You know, just saying you are doesn't fall. I mean, calling yourself the annuity king doesn't mean Clearly. Clearly does not. Maybe he's now. Oh, maybe he's the annuity queen now because he went to jail. Oh, my gosh, that's terrible. Well, hey, come on. If you're gon rip people off, man, you deserve to go to jail and then some. I hate that when you. When you take people's entire life. Oh, I hate that. There's nothing more that gets me boiled that way. In our industry, when you think it's okay to mess with people's retirements, whether it's accidental. Accidental or intentional, the results the same to the client. So you got to be the expert in what we do. Yeah, so. Well, I hope this helped you guys. I found out something new about the annuity kit, but you have a great day, and happy selling.