Stump The Chump | 7 Figure Annuity Sales Podcast | Ep. 153

Hey, everyone. This is Chad Owen, the annuity sales coach. And here's Wonder Boy. Boy Wonder. I keep saying wonder Boy, but it's Boy Wonder.

Well, it's whatever.

What did you get tattooed? I think. You got Boy Wonder tattooed on you.

Yeah, no, I got El Jefe tattooed on me, the cow, which means the boss.

I live a delusional life.

It's always back and forth here.

Yeah. Okay, so you know what? Something kind of interesting, though. I put on this shirt and I do. I have a lot. Lululemon shirts. Why? They're just great. They really are.

But we are not sponsored.

No, I've never looked at the Insider. Noticed this before, but on the inside of all the shirts, it says live in practice. And I'm like, well, that's stupid. I like, live in excellence. You know?

Live in practice.

Yeah, live in practice. I'm not sure what that means, but, you know, living practice. I don't know, maybe constantly trying to get better. I don't know. Constantly practicing. But they say practice makes perfect. But no, perfect practice makes perfect. And even if you practice perfectly, you can't. You. There's no such thing as perfection. Except for my wife. But anyway, that's a whole nother thing. But, you know, the reality is you can't achieve perfection. There's just no way to do it. So I'm looking at this scenario going, okay, what is the best thing I can do to. To be good at what I do? And everything revolves around one thing, and that's shooting for excellence. That's really what it comes down to, is trying to achieve excellence. Shoot for perfection, settle for excellence. So that's what we do in these podcasts. We're literally trying to help you achieve excellence because we want the industry to be better. We don't want you practicing. We want you accelerating. And I mean, practicing means you. Live in practice, means you never get to play in the game.

Right?

So I don't know. That's kind of weird. I'm sure there's some deep meaning behind it. Doesn't change how much I like the shirts. But that's. I'm sure there's something so brought to you by Lululemon, that'd be cool.

But no. Yeah, no, awesome. Well, what we're going to do today is we're going to do some common phone objections. Stump the chump style. Okay? Now, if you are part of the academy, you can go in there and you can Download the document 21 phone objections. We may not get to all 21 today. More than likely we're not. You remember what it was like trying to do the 25 reasons agents fail.

But we are going to throw out some. Some objections that are common for you to listen to today and really get behind the scenes on how does Chad handle these things. But again, go to the academy, download the document, and that's an awesome thing.

So wait, how do they get the document if they're not part of the academy?

Well, it's in the academy.

Okay, so they'd be a part of the academy to get the document?

Well, yeah, it's in the academy. They can get it from the annuitysalescoach.com too.

Oh, they can?

Yeah, they could download it from the annuity.

Sales coach down, get me out there giving free stuff away. But what's going on here?

Hey, it's. It's one of those deals. We put it in the platform as a convenience, but it's not, it's not something. I mean, because you train on phone objections in the academy, so the value there is they actually get to hear you see, you do all of this.

So you finally value me.

I've always valued you.

See how sincere that was?

Yes, that was.

So fake sales 101, be sincere.

Oh, that hurt. Go ahead. All right, number one objections right now.

Number one, just, just send me the information.

What information?

Well, whatever you're going to bring out to me and just send it to me.

Well, what's your situation?

Well, I'm, I'm right here. I'm looking to retire. Just. You can just send it to me.

So I never gets to that. Oh no, it never gets that one. So if I say, you know, they just send me the information. What information? Well, whatever mention information you have. Well, what's your situation? And they're like, oh, they just go right back.

Now you're getting the minute.

Well, actually, yeah, exactly. It goes in there while I'm looking at retiring. Okay, that's great. How old are you? And then I go right into about how much do you have in retirement accounts? Oh, now how old are you? Are you married? How old is your wife? How much do you have in non. When you plan on retiring, how much do you have in qualified funds? How much do you have non qualified funds and go straight into it. It doesn't get into the strung out. Objection. Now, will someone sometimes not meet with me and just wants information? Absolutely. Sure. It's not that often, but it does happen. But, but really, if it's someone that is super interested in this, why wouldn't they want to Meet with you.

Right.

I mean, if they were so good at what they're doing, then why do they need me in the first place?

Why they reach out and you as an agent, being able to extrapolate that interest to continue the call and get the appointment. You know what I mean? I mean, that's one of the. I've said this for a while, but objections don't have to be the end. No, you handle objections. They can actually be the greatest catalyzers for the appointment.

Absolutely. Because solidifying why they need you. And the reality is most objections happen because you didn't answer the question the first place. But I usually answer their question with a question.

Yeah, you always come back with another question.

I want to know what, what their concern is. What do they need? What do they want? What's, what's their problem? What. I mean, if I don't know what the problem is, I can't find a solution.

Right.

And when they find out that I'm going for the solution and not a sale, they open up. Right. I mean, it's not that often I run into that.

Yeah, that's so good. I love it. All right, well, the second one is I don't like giving out information over the phone.

That's okay. Neither do I. And you're very smart to do that. But I'll never take any information from you that's going to hurt your situation. In other words, I'm never going to ask for account number, your Social Security number. I don't care if you have $5,000 or if you have $500 million. It doesn't matter. Anytime you say that, it always gets a chuckle. I don't have $500 million. Okay, so approximately how much do you have? And then it goes right into it. Once again, it's not that often because remember, and I tell them I can't do anything with a number. Right. You know, if you tell me you have 50,000 or you have 50 million, what do you. Yeah, I can't do anything with that. All I'm trying to find out is what your situation is. Right. And once again with that. It's rare I ever get someone that doesn't release information.

Right. And again, the reason you're asking for the information is to see if there's a problem, if there, where is it, so that you can actually present the solution.

Correct.

So you, you even saying, listen, I'm getting this information because I'm not trying to sell you.

Yeah.

I'm trying to show you the solution to a problem. But I don't know what the problem is if I don't ask questions.

Well, that's the reality. It's like going to a doctor and they go, well, I don't want to give you my information. Well, then I don't know how to treat you.

Right.

You know, I mean, what do they do every single time they do a mini fact finder. What's the mini fact finder? They get your blood pressure, height, weight. Height, weight. That's the mini fact finder. And then they get you, they take you into the room and then they go into the full fact finder.

There you go.

I mean, that's all it is, process. I mean, you think about it. Mechanics do the same thing. Mini fact finder. Well, what is your car doing? Oh no, if it's a Chevy, it's a Chevy. It's. Yeah, not quite. Okay, this should be an interesting sound bite. But you know, when, when you get that they want to know. And then when they get. And looking at your car, that's a full fact finder. Right. I mean, if we, if we really think about it, you know, what's the mini fact finder? When you're at a restaurant, they're asking you, what do you want to drink? What's the full time store? What do you want for your meal? You know, I mean, there's so many things in life that we have mini fact finders and full fact finders all the time.

Right.

There's been times where I went into restaurant, I got the mini fact finder, didn't like what the full fact finder was. So I said, you know what, we'll just do this. And it's not often, but it does happen. But there's so many things. It's normal process to get a little bit of information and then if they're interested, then we get a lot of information.

Yeah, that's so good.

Just saying, you know, I don't give information over the phone that is often a reflection of something you said or.

Did and they don't feel comfortable for some reason.

Yeah, there's something maybe the way it's common like, hey, how you doing today? Yeah, you're my 15th March, sunny and.

75 where you're at today. I love the weather where I am.

Yeah.

Yeah.

Don't talk about the weather.

Okay. Sometimes I do with agent friends, you know, like, like people that have gotten to that point.

And you're truly. What is your weather like? It's not. You're just doing it as an icebreaker. You really want to know exactly.

Number three. I already have a financial advisor, Chad.

And it's always good to keep them at check. And if you have a financial advisor, why are you reaching out to me?

I just wanted some information.

But why, if you were very comfortable with what they're already doing, why would you be reaching out to me? There's obviously something you're not comfortable with or something you'd like to maybe get a second opinion on. Right? Right. So the reality is that's what you're doing and I'm, I'm more than happy to help you. It never hurts to get a second opinion and never hurts to try and see if there's someone better to help you in your current situation. Just because you've used the same person the entire time does not mean they're the best for you in this next season. I mean, if I'm going to go on the ocean, I'm going to require a guy who's very skilled in ocean knowledge. If I'm going to climb a mountain, I need someone who's going to be knowledgeable in climbing mountain. So, you know, when we go through different stages of our life, it's a totally different environment, it's a totally different climate. So I'm going to need someone who's an expert in the next part of this journey to help me get through that. A guy who's an expert in arctic survival is generally not going to be an expert in jungle survival.

Right.

You know, you just have to know the difference.

Yeah, well, I mean, and you even talk about to the, the doctors again, I mean, you. So here's, here's a doctor analogy because everybody's been to the doctor, everybody goes to the doctor. And especially the people that you're dealing with at their age, they're going to be privy to the doctor process. So using that for the fact finder, helping them understand what that looks like, getting information over the phone. That's a great analogy. Here's another one, is you say that if you, if you're concerned about cancer, you don't go to a general practitioner. Right. You, your family health or whatever, you go to an oncologist. Right. You go see a specialist for the season you're in.

I make that very clear. There's four people you never mix. Your safe money guy, your risk money guy, your accountant and your lawyer. Those are four people.

You just don't, don't find one guy to do all four.

Correct. You find someone who's an expert in that area and that's what you Use. Why? That's the environment you need help in. You don't want your lawyer trying to tell you how to manage your money, because quite frankly, once again, a lot of lawyers don't know how to manage your money. A lot of accountants don't know how to manage your money. So in a lot of variable people don't even have a clue what safe money is.

Right.

And a lot of safe money people don't know what variable products do. Now, I do consider myself very well versed in the variable world. I'm very well versed in taxes and I'm very well versed in senior law. But I am not an expert in variable law and taxes. Right. I'm not. I am a safe money expert, for sure.

Yeah. Well. And that's one of those things too, is it's it. To me, it seems like a fairly easy one to overcome. I have a guy that handles all of this stuff. Okay. If you can create a career out of one of these areas, how. How well do you think this individual is doing in all of these areas? What is he or she an expert in? Truly?

And there's no way. There's no way with the amount of changes that you can have someone who's an expert in everything. Right. Just isn't.

If you can make a career out of one of those things, there's too.

Much, a little bit. But if you have someone who's that intellectual in all four of those areas, they're not going to be selling, they're not going to be doing what I do. They're generally going to be some consultant for something because they do have the ability. They're not usually good with people. They aren't. I mean, some of these things we've seen with some of these very, very intellectual people, their bedside manner is not good. Right. And people will not be comfortable with them helping them anyway. Sure. Yeah.

Cool. Well, Chad, can we meet at a restaurant?

No, I can't because of public confidentiality or because of confidentiality. I do really don't want your information being made to open to the public. I mean, if we're at a restaurant, you always have the waitress by. You have the booth behind you that's full. There's always someone that can hear your information. So I really want to protect. I value your privacy. I value your security. Right. So I. I do not meet in public, public locations.

Do you. Do you hear that one a lot?

Is that how I come up? I would say once every couple weeks. I'll get some. Hey, can we just meet A restaurant. No, we can't.

It's never. The one that also threw out the objection of, I don't like to give information out. Those two usually are not the same person.

That's fun.

And that is interesting, too, because, you know, I mean, aside from the privacy issues, how focused can you really be when you have a waitress that keeps coming up? Okay, yeah, let me refill your drink. Hey, do you want focused on the meal? Yeah, you're focused on the meal. I mean, I remember one time I did this, and this guy was more concerned about how the chili tasted than anything else, and he wasn't focused even remotely. And I did not pay for that meal. I was like, you know what?

I got the feeling they wanted a free meal for this. And I just like, no, I'm not that guy. I'm not your seminar guy. And seminar guys are always, tell me the plate liquors, you know, all they're. All they want is a meal. And to me, I'm not interested initially in the relationship. I'm an expert. My first priority is making sure I can help you.

Right.

You know, if I see someone drowning, you know, and you throw a life preserver out there and you jump out to save them, you don't see the person who's drowning going, hey, what's your name? Before I let you rescue me, what's your name? You know, are you strong swimmer? No. They're going to grab on to you. That's why you always throw the ring first. I was in the charter business for years, and they always said, if somebody's drowning, throw something out there to float first. Because if you don't, they're grabbing you and you're both going down.

Yeah.

And you usually have to get real nasty and real aggressive. If somebody's trying to pull you down, you have to kick him. You have to. You have to do whatever you can to get away from interesting because they will pull you under.

Yeah. And then you're both in trouble.

Notice lifeguards always carry something with them, and when they swim up to that person, they do not grab onto the person. They push the flow out first because otherwise you are taken down with them. Interesting. Most of those floats are not going to hold two people. Right.

So you have to be able to swim and get them the float.

Yeah, you get the flow. It's not to say, hey, they're going.

To try and use you as well.

You're not taking my hand, you know. Now, obviously, they're a little kid. That. That's one thing.

Sure.

Adults yeah. You do not underestimate someone's else's survival instinct. They'll do whatever they have to do in that moment.

Interesting.

And so. Yeah, how did we get to that?

Well, it was about confidentiality first. Yeah.

If you see someone drowning, grab a boogie board. Grab something. And you know, it's one of those.

Bonus nuggets you never know you're gonna get. Until you start listening to the podcast.

Never do it. Well, I. I just heard, too, that this guy, he's just drowned trying to save his two daughters. And I don't know the full story, but I would bet money he did not go out there with a flotation device of some sort.

Yeah.

And you get caught in that current and you're a goner.

Yeah.

You know, it's in. Your heart's in the right place. But. Yeah. You can't save someone when you're dead.

Yeah.

It's true. So true.

It's sad.

And it's funny, though, because a lot of times the other kid, like, the two kids survived, but the dad died, and it's like, wait a second, what happened? You know, somebody probably jumped in with a floatage. Like I said, I don't know the full story.

Right.

They probably went out the right way.

Yeah.

And this is why I'm so particular in the way I train agents. I'm not gonna sacrifice my life and my effort trying to get you to do what you don't want to do. You have to want it more than I. Yeah, you do. And so all this training we do, you notice, it's empowering, it's engaging. It's trying to get you to do something, to move forward on something. Because I know how to do this right. You know, but the reality is I can't want it more than you want it. And so when we. When I talk about these objections, you know, this is where I don't understand sometimes people going, well, the training costs too much, or I don't want to switch FMOs, because, you know, I've been with the same one for a long time. Like I said, if the FMO is doing their job, that's great. I mean, I even look at what you do with the free business consulting. You know, you're literally going business strategy sessions. Yeah. I mean, if you want a free business strategy session, reach out to Caleb.

Literally 30 minutes of pure value email you. Or you can email me, you can call our number. You can actually, if you go to theannuitysalescoach.com you can go to Free Resources and click on the business strategy session and just sign up right there.

It's.

It's really simple.

So literally what Caleb does in those strategy sessions is he's pushing that life preserver out to you. Yeah. And you have to decide if you're going to grab on. Because a lot of times people reach out to us, it's because they had. They. They have a desire for something better than what they're already in.

Right.

You know, rarely does someone ever reach out to anything for anybody, Anybody for anything, unless they're. They're needing help in an area. And so it's funny because I've seen people, okay, thank you. And they go down. You find out. I mean, you called a person just recently. I've done this too, where they're no longer in the business, why they just didn't make it, why they weren't willing to put forward the effort they needed to. To make it work. And I just hate seeing that because I know what kind of freedom this job gives and I also know the amount of energy and effort it goes. I mean, sometimes I feel like, God, man, the weekend just blew by and now I'm back Monday again going through the same routine, the same process again.

Right.

And. But that's also why I take the time for the vacation. So I don't want to get up, go to work, come home, go to bed, get up, go to work, come home, go to bed. I want to be able to enjoy every moment. And that's why we do some of this training and stuff.

So true. So let's hit. Can we hit one more? Make it around 5. Okay, 30 seconds on this one. I need to research and get back to you first.

That's why I'm here. So what is it you need to research?

Well, I want to. I want to. Well, maybe this. Maybe they say, well, I want to do some research on you, Mr. Agent.

Well, you can always research me. It's Chad Owen Annuities. Chadow and safe money Chad on retirement. You'll see I'm an expert in this area. But even if you're not an expert in this area, make sure you have a good website logo. You know, they can find you.

Yeah. You can see what you're doing.

Yeah, it's amazing how many people don't even have websites, let alone good websites. But I mean, you want to research. I hear that quite often. Why? I want to research the product. For which product are you talking about? Well, whatever you're doing. Well, what's your situation? Because I'm not doing anything right. I'm trying to find out what your situation is, because I may go. Hey, this is. I tell people that all the time. This is not the best product for you. I don't think you should do it. It'd be good for me because I get the deal, but it's not good for you, and my job is to do what's good for you.

Yep.

So, so true.

I love.

Okay, well, I hope this helps you guys. You have a great day, and happy selling.