Episode 51 : Your Pause Cast

Welcome to the Unstoppable Profit Podcast. This podcast will give you all the tools to grow your business and live life on your terms. Millionaire agents and entrepreneurs think and act differently than others. This podcast will give you a simple, proven three step blueprint to grow your business. Over the past 31 years of research in your industry, Mike Stromso has created a unique philosophy called the three People Process and Production Motion. This outside the box thinking and guidance provides agency entrepreneurs just like you the knowledge and tools you can quickly implement to explode your agency business. He has been there, done that, and he's still doing it. Wherever you are today, if you're starting with nothing or are well on your way to the success you desire, with the right people, processes and promotions in place, you will be unstoppable. And now I'd like to introduce your host, Mike Stromso.

Greetings friends. Welcome to episode 51 of the Unstoppable Profit Podcast. This is Mike Strompso coming to you live from the Living Agency Laboratory. And today we're going to be talking about. Wait a minute, Today is not a podcast. It's a pause cast.

Yes, a pause that was affectionately born right here in the Living Agency Laboratory during a one day coaching session with one of our platinum coaching members. And I was sharing with them the strategy of the pause. And it's so powerful when used properly. And that coaching member said, hey, when you get ready to teach on this, and I highly recommend that you do that coaching member said, call it a pause cast. And so here we are, and episode 51 is a pause cast. And I want to share with you everything that I've learned so far about the power of the pause. If you will strategically make little shifts in everything that you're doing within your sales organization, within your service organization, as you're connecting with people, as you're implementing strategies, not tactics, strategies. I just got done episode number eight of the Unstoppable Mindset series that I teach on. I just got done talking about strategies versus tactics. You want to be a strategy minded organization all of the time? Let's get back to the power of the pause. The power of the pause I learned through my own personal training and development over the last 20 years. And a lot of the great people that I've learned under and from and used and taken action on in my own business operations, I've learned that the power of the pause is huge. I've watched them do it. I've learned the psychology of why it's important and at what moment it's important to pause and let them digest it and let them feel the emotion of what was just said. And then at that point you go forward further into the conversation. I've got a number of examples for you today that I'm going to share with you where you can immediately take away from this pause cast and implement it in your own business. Because I also learned many, many years ago in my own personal training and development that big doors swing on little hinges. So it doesn't take huge swifts, shifts or huge swings in what you're already probably doing really, really well. But sometimes those little shifts in the way you can do it can elevate your closing ratios, it can elevate your conversion ratios, maybe in growing your existing book of business. And it's just fantastic. And it's not that difficult. So if you were to say to me, Mike, what's the one thing that you have learned more about in the last five years in business as it applies to your business than anything else? I would wholeheartedly, 100% say it's the psychology of the human relationship in business. I have learned how to understand that and do things in a little bit different way to make those shifts, which really has helped us just be a lot more effective in everything that we're doing in the insurance agency business. And beyond that, I mean, I'm looking right here in the living agency laboratory and I've got a little visual. It's got the five most action oriented words as it relates to writing copy and it also converts to the verbal conversation. As you know, if you've heard me talk about the five action oriented words before, proven over years historically of direct response, marketing and beyond, the words that if you pepper them into everything that you say and write and it will cause people to react more quickly and to react more often, which gives you a great opportunity for sale and to close conversions. So the first one is you, the second one is guarantee, the third one is new, the fourth one is free, and the fifth one is sex. So how can you use those in combination with the power of the pause? Let's get going on the power of the pause today. The power of the pause really came into my own world after I had learned about it, oddly enough, in the grocery store. So I was down at the grocery store one day and I was checking out and the checker said to me, and this happens everywhere and you can do this. And it's such a door opener for furthering a conversation with anybody. So think about this. So I was checking out of the grocery store line and I got my goods and paid and all that kind of stuff. And the checker said, and this happens all the time. Start paying attention to this. The checker said, have a great day.

And I paused. Here's where the power of the pause comes in. I paused, I looked the checker right in the eye and I said, there's no other option.

So it was that pause, the. That allowed me to connect with that person eye to eye in a way, heart to heart and soul to soul. And I looked that person right in the eye and I said, there's no other option. And I do that all the time, everywhere I go as I get to travel all across North America. And when I get in that position and somebody says, have a great day, or they open the door for me to say, there's no other option, I pause because I connect with them, okay? And they think about it, they go, you're right, there is no other option. And I'm thinking, of course there's not. We know that, right? It's the power of the positive mindset. But at the end of the day, their feeling, it's back to the E +F equals C experience plus feeling equals connectedness. Relationship plus trust equals money follows trust. That's a whole nother series, okay? But at the end of the day, when you create that experience and that feeling in people, the door is wide open. Wide open, my friends for sale. We're always in sales all of the time, 100% of the ways, 100% of the days. You got to be thinking like that as a strategy minded business entrepreneur. All right, let's Continue with this episode 51, the pause cast. So let me give you some things that you can take away. So make sure you have something to write with. Make sure you have something to write on. If you don't pause this pause cast and then come back and we'll get going. Okay? So the first thing that I want to do, and I've learned this strategy in sales in the insurance agency business, I will meet with somebody, they'll want to come in, they'll want to sit down and review all of their insurance and et cetera, et cetera, and part of our criteria is they need to bring their current policies. If they don't want to bring their current policies or they don't want to comply with the information that we need to begin to do a review, to begin to make some business decisions. We don't play, we just simply pass. That's part of our criteria. So when they come in, we'll have a conversation about what they have going on. We have checklists of things that we need to have conversations about. And I will strategically take about 10 minutes to get to know them a little bit and then I will get down to the conversation. This is where I use the pause even more powerfully. Nowadays, once I learn the strategy more than ever, I will stop, I will look them in the eye and I will say.

Pause. Okay, I have a question for you. And the pause is, it allows them to take a breath, become emotionally present, and 100% listen to what I'm going to say next. You want to get the pause in or do the pause right before you say something important?

Pause. I will say, I have a question for you. When you hear the word insurance, what's the first thing that comes to your mind? Protection or price?

I love that question. And at that point, you know the other strategy in sales, the first one to talk loses. So at that point you gotta shut up and wait for them to answer. But when they say protection, I love that when they answer protection, because that just tells me that they're not price driven all the time. Yes, price is important. I get that, I get that, I get that. But at the end of the day, they are protection minded and that's who we want to do business with all of the time. So we also have a strategy that we've learned and start implemented over the years and taught over the years called the triple no go. So I'm going to take you through a couple of items on the triple no go. And this is the result of disqualifying somebody. Okay? So.

Our goal, when we get a new prospect either on the phone or in the door, we want to quickly possibly disqualify them because not everybody is our ideal client. And that's another key strategy. Know who your ideal prospect is. Know who your ideal client is. And you want to exercise the 8020 rule and be writing 80% of your new client should be close to your ideal client. Okay? So triple no go.

Pause.

Hey, why did you call us today?

And again, the strategy in sales, the first one to talk loses.

Why did you call us today? And just shut up.

Let them talk and keep digging. Okay.

Pause.

Hey, are you happy with your current agent relationship?

Pause. Hey, are you price shopping today?

Pause. Is your current agent a family member?

Pause.

What do you want your insurance program to accomplish?

Pause. If you're on the phone with them and you know you're not on a zoom call, which we're doing a Lot more nowadays, by the way. Zoom calls. Not phone calls. Zoom calls. We can see each other face to face. People can pull it up on their phones. They have the phone in their pockets. Use Zoom. It's free. You're just limited to 40 minutes. Okay. We do it a lot more nowadays. Okay. Pause. Question. Can you locate your current insurance policies immediately?

Pause.

Other than cost, what is the most important thing to you when you think about your family's insurance protection? Shift. Pause. What's the most important thing to you when you think about your business's insurance protection?

Pause. Is it protection from lawsuits?

Pause. Let it sink in. Is it catastrophic coverage for your home?

Pause. Is it claims being covered for possibly anything that could happen that might be an opportunity to go to an all risk policy versus a named peril policy as an example that elevates your credibility and your authority.

Pause. Have you had any claims problems with your current carriers in the last five years?

Let it sink in. Let it digest. Pause. Overall, has your current agency or carrier relationship lived up to your expectations of them?

Pause.

How many different agents are you currently working with for your insurance program?

Pause.

What would it take for you to leave your current agent or carrier relationship?

Pause.

The other thing that I love to get into the.

Psychology of the relationship with is the fact that.

I believe in my heart of hearts that there are anywhere between 50 to 70% of the millionaires out there. Millionaires meaning people with a million dollars in assets, okay? They are driving around underinsured, all of those assets are on the street. And if they get in an accident and they are liable and responsible, it's going to get. It could possibly get taken away from them. And the bigger thing is they are not even aware of it, nor do they know it. Okay? So we have a tool that we created years ago called a liability limits calculator. And that liability limits calculator goes line by line. I love to use items on that liability limit calculator and the power of the pause.

Just to make sure that they understand. Because ultimately, at the end of the day, you don't want to race through possibly the most important conversation that you can have with people. And that conversation is, are their assets properly protected all of the time, Every way, every day. Okay? Because at the end of the day, I mean, think about this for a minute and I hope I don't offend anybody. And if I do, please forgive me, then, okay? When I slow down and I pause when I say this, I will say, because it's attention getting, okay? I learned years ago in marketing, if you're not sometimes upsetting somebody before noon, then you're not doing your job. But ultimately, what you want to be doing all of the time is getting their attention 100% all the time. Okay, so are your assets.

Properly protected?

Pause. Okay, so these are some examples of things that you can take away right now. And using the power of the pause in conversations that you're already having.

At the end of the day, you've got to pause. You have to let it emotionally digest within the mind, the heart and the soul of the person you're speaking with.

For them to get it. I mean, for them to truly understand what you just said and why you said it. And if you're not letting that digest, if you're not letting that pause happen in a way that is helpful to them, that gets them to completely understand what you're getting at and why you're saying and doing what you're saying and doing, then it just becomes a transaction or a tactic transaction. It's not a strategy transaction. And you know, you're just going to be, you know, spinning your wheels all the time. You're going to become a commodity. And my friends, that's not what I want for you. I want you to be strategy minded. I want you to be the authority in your marketplace for whatever it is you're trying to attract and convert. Because at the end of the day, my friends, that's how you grow a business, create wealth so you can have more freedom to live life on your own terms. My friend, I hope this has helped you today. Use the power of this pause cast and use the power of the pause in your relationship building with people on the phone, on zoom calls, on video proposal deliveries, in face to face conversations and business meetings small and large. Use the power of the pause we when you drop something that's really, really important, please pause and shut your mouth. Because in sales, the first one to talk loses and you will be more successful in your transactions, your closes, your sales, your conversions and everything having to do with it. My friends, I hope this has helped you today. Get out there and make a difference, be unstoppable and leave no regrets. And I wanted to.

Pause.

One more time and remind you that. Go to beunstoppablebootcamp.com beunstoppablebootcamp.Com we have just made the final arrangements with our two lead speakers for this year's boot camp. It is going to be absolutely off the charts. It will completely blow your mind, trust me.

Case in point, I just paused for a reason. Beunstoppablebootcamp.com beunstoppablebootcamp.com your investment for our Be Unstoppable boot camps will never be lower than it is today. So go there right now. Secure your seat, book your hotel room. We personally guarantee that it will change your world in ways you don't even know about right this minute. And if you have any questions, look@beunstoppablebootcamp.com scroll down. Watch some of the videos of people that have attended our events. We Personally guarantee your 100% complete satisfaction or you invest no money at all. In fact, we've got a money back guarantee. We will give you $500 towards your travel expenses, we will refund your money and we will part friends. If you are not completely satisfied with that, this experience is an absolute game changer for you my friends. This is Mike Stompso coming to you live from the Living Agency Laboratory. Wrapping up our Pause Cast Episode 51 I will see you next time. Until then, get out there and make a difference. Be unstoppable. Leave no regrets. See ya. Thank you for listening. If you would like to listen to more episodes or share this podcast with someone you care about, please visit www.unstoppableprofitpodcast. now go out and make a difference. Be unstoppable and leave no regrets.