The Victor’s Mentality… Assuming The Deal | 7 Figure Annuity Sales Podcast | Ep. 229

On this week's episode, we're going to talk about the victors mentality. How to assume the deal.

Hey everyone. I'm Chad Owen, owner of retirement realized financial. This is Robin next to me. And he is the worst at fantasy football for this last year. Well, just wanted to bring something like.

That in our office league particularly.

That's all that matters. I don't care about what you are in other worlds, what superhero you are. It's what you are now because I'll.

Probably win three championships.

I doubt it anyway. We'll see. It's hard to tell because. Well, yeah, you would have already won it. You would already know.

I'm just gonna say now I won three championships, three out of four leagues.

I was the winner I first year I've ever played and I still really don't care.

So you started to for a little while the competitive side.

No, I still will. I like if I'm watch. If I watched a game that I didn't know any of the players, like I could hardly tell you any of the players in the NFL, but if one of my guys was up there, you were watching. Even if I don't like the team, even if it's against stinking Kansas City, you know, but Mahomes, he's an awesome guy. Okay, so I have kind of this. It is. I had this mindset, kind of a revelation when I went to appointment and somebody didn't want to do the deal. And I was baffled and boggled because I presented the best case. I had the best solution to their problem. It was bulletproof and it just rocked me when they didn't want to. It wasn't out of desperation, like I literally wasn't a big deal. I'm just like, okay fine, move on to the next one. But I sat there and I got up and started driving away. And I'm thinking why does it bother me so bad when I don't get a deal when number one I knew is the best? That's actually why. If it's not the best solution to their, to their problem, then no big deal, move on. But this I knew could have changed their situation and give them a peace of mind. And I started think I'm more surprised when somebody doesn't sign up with me when they do. Yep. So I sit there and I'm going, how do agents go into an appointment? Do you really think you're the best one for their situation? I can honestly say yes. Now there are different personality types I'm not best suited for. And that's just a fact. Nobody can get along with every different person at any different phase of their life. And even my wife, which is the most peaceful person you could ever be if you're an entitled or bully. That personality that doesn't go well with her, you know, that personality doesn't go with me either. But the point is there you can't, you can't get along with every personality type. So you can walk that appointment go. Well man, this is a little challenging because our two personalities will not mix. But then that's where logic comes in. So if I can logically present a case to them why my product's the best. But any appointment I go into, I'm automatically thinking this is a done deal. Yeah. Now sometimes it's the fourth time I'm walking to the house and I'm still thinking that. But I go in there expecting the deal to be done right.

I, I noted down because I think that the natural thought process there or if somebody maybe doesn't share that mentality that you have, they easy to come back and say, well Chad, that sounds pretty arrogant of you to go in.

And just assume do it confident, not arrogant.

Well and that's, and I noted down.

Fine line between that. I agree.

I said assuming the deal isn't arrogance. If number one you're solving the problem they have with number two, the best solution for it.

Yes.

If you're doing those two things, assuming that they're going to want to work with you isn't arrogance. It's not, it's the, it's the logical response that they would have to you actually solving their problem with the best solution for it. Like that's just the logical thing that would take place. So then to assume that they're a reasonably prudent human being that would make a logical decision is, that's not a bad assumption.

Well and the easy assumption is based off of lots of work. What I mean by that, I can tell you the best product, I can tell you the best solution to the problem. I can tell you when this is not a good fit for them and it's a walk away time. I'm very confident in that. But it's through knowing all the different products, all the different scenarios and it's rare. Maybe once or twice a year there's a question that comes up that I can't answer. But I always respond with this, you know what, that's a new one. I don't know the answer to that but let me find that out for you. I know people who know that, and then I usually use this scenario of, you know, when you're a teenager and you're in your 20s, you think you know everything. When you're in your 30s, you start to realize, man, I know nothing. I mean, I don't know how to build a rocket. I don't know how to build a car. I don't know how to. I could probably lay concrete, but, you know, okay, what if there's a huge, heavy piece of equipment? How much rebar? What, what, what do you have to mix that cement at? I don't know that. So there's so much I don't know, but I know who knows?

Right?

And so I'll tell them, hey, I don't know the answer to that question, but I know someone who does know. And I'll get that question for you. For you. And I have experts that have surrounded my. Around myself for many, many years that are experts in their area. I have an estate attorney that I know knows the answers to the questions. I have. Bankers, I have. I mean, you could go on and on. I know these people that know the answers to these questions. And it's not wrong to sit there and say, I don't know.

Right. In fact, it's the right thing to do if you don't know.

Yep.

Trying to pull an answer out of you know where for the sake of giving them an answer. For the sake of giving them an answer and hoping that, that suffices.

Out of your egg laying spot.

Well, speak for yourself.

Oops, sorry, guys. Went wrong. Okay, so, but I, I do, I. And it is very, very, very, very important to understand confidence over arrogance. You know, I've watched enough fights to know when someone's arrogant and they get their tail kicked. And often they get their tail kicked by someone who's not quite as skilled but is more confident. Yeah. It's like you see those UFC fights where they go up to shake hands or whatever, and your guy, that guy just refuses to shake the hand. And you're like, that's actually the better fighter of the two from a technical standpoint. But then the humility allows that other fighter go, hey, I'm just going to go and have fun. I'm going to beat this guy. But the other person, I'm, I'm way better. I'm the best one that's ever been around. And they get knocked out.

Right.

And I think that's often another danger when we're running appointments is watch out for the knockouts. The knockouts obviously make sure they have plenty of Emergency funds and savings. If you don't. That's a knockout. You should not be writing that you've lost that when you start to put the amount you have that you're putting in the annuity over the accessibility to money. Emergency funds, that's not a good thing. Another knockout. Trying to replace an annuity, that you're putting them in a worse situation.

Right.

And you know you can't do that. That's why there's three separate suitability applications asking questions about are you replacing annuities. So no matter how much confidence you have, what do you have confidence in? Your ability to get the commission or your ability to do what's right for the client? That's good. And so ethics and integrity has a lot to do with your confidence over arrogance. Yeah, go ahead.

Well, I was just going to say confidence and arrogant. You said it's a fine line. And I agree. And I think what's interesting is that often arrogance is actually largely tied to insecurity. And it's almost this verbal and action based attempt to affect what you believe about yourself. Right. So you maybe don't think that you're all that in a bag of chips. You're actually dealing with some insecurity in an area so you feel like you have to compensate for it with what you say or what you do. Confidence is the other way around. It's actually what you believe about yourself affecting the way that you talk and the things that you do. So it's the things that you know to be true impacting the way that that actually manifests and comes out. Now I wrote down here that confidence is something that clients grab ahold of when somebody walks in with true confidence, not arrogance, they actually get ahold of that. And I personally have never seen a confident agent that was also an expert have low sales volume ever.

I would agree with that completely.

The low sales volume. I've only ever seen one of those two things missing. Either they're very knowledgeable, but they just don't realize that and they don't have confidence and so they don't write very much or, or they have confidence but they have no expertise and they still don't write much. But where those two pair together I've never seen personally and talking with hundreds and probably at this point thousands of agents, I've never seen those two exist together in somebody that had low sales volume.

You know, I remember this time and I can't remember which daughter it was. I think it was Ariel when she was little, little, probably four or five Years old. And this big dog came running toward us. And you could tell she was scared. I just grabbed her hand and I put her a little bit behind me. And she knew from that moment she was safe. Like, she said something so she would have been a little older because she said something. I feel safe around your dad. Confidence. I knew that dog was not getting to my daughter. I would rip that thing to pieces. I knew for a fact it wasn't arrogance. It was that I want to protect my daughter and there's no animal out there that's going to get to her. I feel the same way about broke. No, I'm teasing. Brokers. Brokers are that dog that are coming after you and they're going to rip your client apart. Now, remember, I say that jokingly, but because there are brokers out there that literally are dogs. I mean, they go out there. They're annuity people. Oh, 100%. It's funny because people like to knock brokers a lot, but the annuity industry is full of slime balls.

It goes both.

Yeah. I mean, every industry. Every industry has them. But the point to that is we love brokers. As long as you're doing your safety planning first, and then you do the leftover money or the other money. But you got to make sure you don't use variable accounts for safety and security. That's just a fact. And we have lots of brokers that work with us, and they're awesome. It's just the brokers. I don't like to try and use mutual funds to get a guaranteed stock or dividend stocks to guarantee income for the rest of their life when there's no guarantees on that. So that's a problem I have. But that being said, it's that confidence that I exuded in front of my daughter that knew she was safe and secure. So when I look at knowing what you're talking about and I can't remember. How did you word that? You said confidence. Touchscreen.

No.

Yeah. Confidence in knowing what you're talking about. A victory. Excuse me? You said a victor's mentality and assuming the deal. And when I say assuming the deal, there's not always an assumption there, though, unfortunately. Sometimes I'll look at their physical surroundings, and I'm going, oh, man, they're hurting for money. And then you go in there like, oh, my gosh, this person has $4 million.

Right.

What the heck? So be careful not to. To.

Let your mind go in there. You should. I remember one time I had to drive back two miles back to this house. Dirt roads through three different gates. And this house was run dirt down. They had a couple hundred thousand dollars that we moved. I never, when I drove up, that is not what I was thinking. And so my ability to walk in there with confidence was not that strong. Even when I started doing the fact finder. I'm no IRAs, nothing. And then also, well, we got 300,000 over here and this over there. And I'm like, what? You know, I, I, I bet if you would add a hidden camera, you could have seen the shocked look on my face. I mean, linoleum, ripped up chairs that look like they came out of a school cafeteria that were beat up. I mean, just old time, just. And so confidence comes into making sure you don't.

Assess the situation and kill yourself before you walk in. Because that's literally what happens. You, you assess it, then you go, dad, they don't have money. Well, guess what? They, they don't have any money. It's already, it's already done deal. It's not going to happen.

Right.

So when you go in there with the assumption you have the best product with the best solution for their situation, now you got to have the knowledge to make sure that happens. And you've got to go the system, we talked about that before. The system, the process. But as long as you can do that, you're going to do very well and your clients will feel secure and safe and, and who you are, not just in the product that you provided for them.

That's good, man. You know, I grew up on a ranch.

I do.

And we used to, used to talk about sheep. And we didn't have sheep. We had goats and horses and cows, but sheep. We used to talk, they're always look, just looking for a place to die. Like, they're so, they're so fragile and they just, it's as if they're just looking for a place to die. And it's almost this like, mentality of I'm the weakest thing out here. I'm just doomed. It's just gonna happen. And I think a lot of times it can be easy, especially if you've had a history of appointments and no sales or appointments and not as much as you'd like to have written. I think it can be easy to get into that rut, that mental rut of, well, it's just another appointment that's gonna go the wrong way. Like, if you go into it with that mentality, it probably will. And you've got billy goats that walk around like they're the baddest thing out there. And it's like, be a billy goat, you know?

Even if you scare them and then they drop over on their side.

The fainting goats.

Yeah, fainting goats, yeah. But.

You got to be confident in your ability. But to be confident in your ability, you need to give them a reason why. So I hope this helps you guys. You have a great day. We're a little short this time, but, man, the last two we made up for it. So you have a great day, and we'll talk to you later. Happy selling, Sam.