Episode 79: Encore Episode – Your Client Avatar to Ultimate Profit

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 Stromco.

Greetings everybody. Welcome to episode 43 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 the ultimate people connection. I've got two brand new tools that we just got done teaching at our Unstoppable Mastermind events and it is absolutely off the charts. And if you will implement, execute and take action with these tools and connecting with people, meet them where they are, you will have the ultimate depth of relationship with people. You will have more prospects at your fingertips. They will know you better, they will love you better, and they will do more business with you. It's absolutely magical. However, it's not for every single relationship. So you have to be smart about it. And sometimes you have to disqualify and sometimes you have to say no. You know, I learned a long, long time ago all about the art of disqualification from one of my mentors, Jack Worth. And you just have to learn to disqualify people. However, if there's people that you don't want to disqualify, if there's people that you do want to do business with, if there's people that you want to do business with at depth of relationship, then you need to completely understand these tools. You need to understand them, you need to have them, you need to implement them in your business and in many ways in your personal life. I have used some of these tools in my own personal life and it has taken relationships to another level. So my friends, let's dive in today. And there's two parts to the tool. The first part to the tool is the client profile map. And now you can fill in the blank here in our mastermind. Recently, a lot of the agents who were learning about these tools, they got rid of that word client. They inserted the word team member, they inserted the word acquisition, they inserted the word prospect, they inserted other words for a descriptive. It does not matter, my friends. It's a profile map to a person. So let's talk about that for just a minute. So what do you need to be looking at when you want to build depth of relationship with somebody? Well, first of all, the first thing is the existing demographics. So what does that mean? Well, I talk a lot about and I have learned a lot about, especially over the last two to three years and I've built it into everything that I do. Demographics, psychographics and geographics. Demographics, psychographics and geographics, they all come into play, they're all intertwined when you're building depth of relationship with people. So existing demographics, what does that mean? It means who are they? Who are these people? It includes things like age, gender, race, creed, education, occupation, income level, zip code, marital status, do they have children? If they have children, what are the ages of the children, what do they read, what do they listen to, what do they drive? And anything in that realm. The more you understand about people and the more you can answer the questions about about people with the answers to those specific questions, the closer you're going to be able to get, the more you're going to be able to identify how to build depth of relationship with these people. And that's what it's all about. It's all about depth of relationship. You see, remember the E plus F equals C. The R plus T equals mfc. And if you missed that podcast, experience, it's all about the experience, right? Plus the feeling that is brought from that experience. Experience equals the connectedness. But the connectedness is just the beginning. Then it becomes relationship, then it becomes trust. And money follows trust. You got to build that trust. Identifying these things helps you build depth of relationship and depth of trust. It's so critical. And once you identify your ideal prospect, if you will, your ideal client, if you will, your ideal team member, if you will, you, your ideal anybody else, once you have this information, you're better able to identify what this particular individual or person looks like. Alright, so that's the demographics. The next one is psychographics. Psychographics. What the heck are psychographics? Well, you know, when I first learned about this a few years ago, I had to actually look it up. So I went to GTS it and you know what GTS means, right? Google that. You fill in the blank. So I went to GTS and I started to understand psychographics. But at the end of the day, psychographics are in the realm of depth of relationship. What are their hopes? What are their fears? What are their doubts? What are their worries? What are their problems to solve? Remember, a problem solved is an opportunity for sale. A problem solved is an opportunity for sale. What are their goals? What are their ambitions? What does their value system look like? Their honesty, their innovation, their social proof aspects, their credibility aspects. Obviously, the people that we're looking to do business with or build up the relationship in most cases have a very defined value system. What bothers them? Have you ever asked somebody that, what are they looking for in pleasure? How are they looking to avoid pain? And how do they measure things? Are they a medium risk person? What is their method of measurement in everything they do? Low risk, medium risk, high risk, low, medium, high. And everything else they do could involve spending or anything else. Let's get back to looking for pleasure or avoiding pain. I have also learned in my journey so far in life that people will always invest more to avoid pain than they will to gain pleasure. They will invest more to avoid pain than they will to gain pleasure. Don't forget about that. So we've learned about the demographics, we learned about the psychographics. And the geographics are just where they're generally located geographically. So that's kind of a. Uh huh. You already know about that, right? Demographics, geographics, psychographics, when you're building your list and marketing, people, processes and promotion, right, in the promotion realm, the third P in marketing, your list is your absolute gold. Your list is your absolute gold. So you need to understand all of this when you're building your list. Demographics, psychographics, geographics. Now let's jump into your desired fill in the blank. Is it a client, a prospect, a team member, an acquisition partner, another, A friend as an example. Okay, now we're thinking more along business, so we'll put the friend aside in this particular realm. But desired prospects as an example, what is the potential roi? And bigger than that, what is the potential ROE on this particular marketplace or these particular sets of prospects? As an example, return on investment is roi. You know that ROE is return on equity. So in our particular agency world right now, remember, I'm in the trenches just like you, every single day, playing the game, going at it, winning some, losing some, or.

Winning some, or learning some, AKA lessons, wins and lessons. But roe, return on an equity in our world for organic business, our return on equity is about 1.4 years. Yes, I said it, 1.4 years. So what we're investing in marketing, acquisition of client, paying out commissions, et cetera, et cetera, et cetera to gain all of this is about 1.4 years. I know that because we measure it. Numbers don't lie and you've got to inspect what you expect. But at the end of the day, it's worth it to us because at the end of the day, it's part of our ownership. Okay, so let's talk about these desired people, whether it be clients, prospects, ROI and roe. So what is the client type with the greatest need? Who are you going to go after? All right, who has the most money? Who is the easiest to reach? Who is the quickest to decide? Who is the easiest and least expensive to service? Who stays with you the longest? Who spends the most money over time? Who's the most enjoyable to work with? All of these should be going through your mind when you're trying to identify your ideal prospect, client or other partner in business, and also team members. So understand all of these things. What's the ROI and what's the roe? Now, next is the right client, the right prospect, maybe the right team member, maybe the right acquisition partner as an example.

You have to understand at the end of the day, and I learned this lesson, if you want to look at the acquisition partner opportunity, I'm going to suggest one or two years ago, I had an acquisition opportunity on the table and I identified after asking lots of great pointed questions and shutting up, which you should be doing all the time in leadership and every other realm of life. Ask great pointed questions and shut up. Okay, so I asked some great pointed questions and shut up. And it was revealed that there was another decision maker hiding in the weeds that I didn't know about. So when you're thinking about your right prospects, clients, team members, or other acquisition partners, or anything else in that realm, who is the real decision maker? Who is the real influencer in that particular situation? Who is the real decision maker? Who is the real influencer in that particular situation? Could be a spouse, could be a CEO, could be an ad agency, could be a cfo, could be an attorney, could be a cpa, could be a consultant, could be a mentor, could be an IT department, could be a health practitioner, should be an insurance carrier, could be parents. You don't know what you don't know. Okay, and then next, what you want to do is you want to make sure that you continually interview people Whether it be clients, prospects, team members, acquisition partners and the such. Now let me give you a couple of questions that you might ask these people, all right? And this is such a simple question, but it's so revealing. If you'll ask the question and shut up. Alright, what's the number one problem you're faced with right now?

What's the number one problem you're faced with right now? Number two, what frustrates you about working with our industry? What frustrates you about working with our industry? And there's a whole list of other questions that I've got in that particular realm or when.

Identifying the ideal prospect, client, team member or acquisition partner. So once you get that basic information, then you start talking with individual people. And what we've been doing for years, we've been doing marketplace research in our own industries. So with that being said, we're trying to get close, we're trying to understand the conversation that's already going on in the back of their minds. Okay? Once we get to the client or the prospect or the team member or the acquisition partner profile map, if you will, then we start digging into our client, prospect, team member, acquisition partner or other avatar. Okay? So really I've got a whole list of questions here on this avatar that help me identify exactly what this person might quote, look like, all right, who, who they are internally. So I'm just going to rip off the information that I might be looking at in this particular realm. Okay, so my name is. If you're interviewing somebody and you want to get know more about them, you might take them to coffee or ask them if you could just spend some time with them that you're looking to learn more about their marketplace, etc. Etc. Etc. And obviously give them something in return. Remember, you can do anything in this world if you will give first. You can do anything in this world if you will give first. So my name is. So whatever that person says my name is. So I'll play myself along with this. There's some things that I'm not going to go into, but you'll get the idea. My name is Mike stromceau. I am 57 years old. I am married and I've been married for 25 years. I have six children and the ages 31 to 43 are the children. I have no pets. I live in Fallbrook, California in a four bedroom house that's worth X amount of money. I drive a wrapped Toyota Scion which is also known as the ambulance as a profession. I am a local independent insurance Agent. My spirituality is Christian. I travel to the entire world with my bride. My hobbies and personal interests are traveling the world with my bride and our family and hanging out together with our family. I love, love, love that more than anything else. I also love to ride my road bicycle long distances at a time, especially when it's with my writing buddies. I read books after I listen to them, and that's about all I read. I don't read anything else. I. I listen to audible. Audible is my mistress. And by the way, my wife knows about my mistress audible. And I listen to something all of the time when I'm driving around all of the time. I don't listen to anything else except I feed my mind. I feed my mind. I feed my mind. I listen to audible, and that's about all I listen to. I watch. I watch some YouTube videos. I don't watch TV. I don't read the newspaper. I don't do any of that. That's really all I watch. I like sports events. I like championship sports events because I like to study championship anything.

So then you go on to say, what are your three main values? Well, my three main values are do unto others.

Do the absolute best that you can in everything that you do. Leaving it on the field, and help anybody in any way every single day is how you start anything. My three greatest fears are worries. Ask people what their three greatest fears or worries are. My three greatest fears or worries are I'm always cognizant of my health. I want to consistently take care of myself because my worry might be that I become unhealthy to the point where I can't do anything about it. We only get one shot at health, that something might happen to one of our kids or grandkids.

I worry about that because I want them to be safe. I want them to have opportunity and that one of our maybe our team members might do something silly that's out of my control. So off the top of my head, those are my three greatest fears or worries. My three greatest hopes and dreams. My three greatest hopes and dreams are that we can launch Cousins Camp someday. We have 13 grandkids, and I want to teach them everything that I've learned about entrepreneurial business acumen. We have a completely systematized in the unstoppable profit producer program, and I want to give that to them as my gift and I want to coach them on exactly how to do it so they can learn to do whatever they want in this particular world. That's one of my greatest hopes and dreams, number two, that everybody within our family can live out their hopes and dreams, whatever that might be, and that they will continue to remain healthy. Lastly, one of my hopes and dreams is to create a foundation for single parents. I was a single parent with three kids for a number of years and it broke my heart. So I don't want that to happen to anybody and I want to contribute back in that way. The person I fear the most and or want to impress the most is actually the same person which is my bride. Little side joke there. What frustrates me the most about dealing with your industry, meaning the insurance industry or whatever that industry might be. Then you want to fill in the blank there. What I want most from your business is they would be telling you what they want most. You'll gain my trust and comfort by, in my world, immediate response. I want a fairly immediate response to any inquiry. I don't like waiting around. I especially don't like to end the day without that being fulfilled. The service level I expect is fairly immediate, definitely within 24 business hours, if not sooner. And what I expect is a direct response, no bs. Okay. And then you can continually exceed my expectations by. Well, at the end of the day, you can continually exceed my expectations by.

Getting back to me in a timely manner and giving it to me straight. That's the bottom line. So I interviewed myself a little bit here, but these are the questions that you could be asking anybody in any marketplace to know them deeper, to know them better, to understand, really, at the end of the day, my friends, how to connect with them and how to serve them better and how to do more business with them. My friends, if you will do this and you will ask the great pointed questions and care more about people and learn more about them so that you can know them and serve them better, you're going to do a lot more business and you're going to have a lot more depth of relationships with people. I'm using this with clients, with AAA clients to start with, with prospects, with prospects. It's absolutely magical what you learn about people. You never know what people have going on, my friends, I hope this helps you. If you'll go out, implement, execute and take action with this information, you will, like I said, begin to dominate a marketplace. But you've got to be systematic, you've got to be consistent about it. And at the end of the day, you've got to be prepared. You have to be prepared. You have to look people in the eye and you have to care about them. Remember, no one cares how much you know until they know you care. My friends, I hope this helps you today. This is Mike Tromso coming to you live from the Living Agency Laboratory. And and my other great encouragement for you today is beunstoppablebootcamp.com beunstoppablebootcamp.Com everything that we learn consistently and on an ongoing basis in the trenches of our lone Living Agency Laboratory, which is our own local independent insurance agency business, we share with you with hopes that it will begin to grow your business, create financial wealth and security so you can all have more freedom to live life on your own terms. And it's all based on a very simple three step blueprint called the Three Ps People, Processes and promotion in that order. My friends, I hope this finds you well. Please take care of yourself. Don't forget to love your hug one every Hug your loved one every single day. Tell them you love them. I will talk to you on the next podcast. Until then again, this is Mike Stromso coming to you live from the LEMI Agency Laboratory signing off. Until next time, make a difference. Be unstoppable and leave no regrets. 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.com now go out and make a difference. Be unstoppable and leave no regrets.