A salesman made $1.5 million in annuity sales his first year by admitting what he didn't know and bringing in experts. He and a colleague argue that selling annuities isn't about product knowledge but about understanding what clients actually need.
Chapters
We all go, "What if?" and then we fill in the blanks with some bullshit. We all do it. So now when I say, "What if?" I try to catch it first and go like, "Dude, what if they say yes? What if positive?" Most people, "What if negative?" comes out of their mouth right after that. You change that piece, your whole life will change the way you view things. I literally don't care that I don't know everything. I don't care at all. I'm dumb as a box of rocks with some stuff and I don't care at all. And I found out you can make a bunch of money selling annuities by asking that question and saying, "Hey, someone else is going to be better at it and I'll show you next week." I was like, "I'm in." First year I started doing it, $1.5 million. First year. Made $100-something grand. I run an annuity boot camp. I know nothing about annuities. I don't have to know. I know the people who know annuities know annuities. But I'm also okay going, "I don't know the answer.
Let's find out." I think the biggest mistake is people think that writing an annuity is showing a client how much you know about the product. And it's not. It's understanding where they're at, what the concerns are, what they want out of their funds, and showing them a solution to that. And that's it.