The biggest challenge to MDRT aspirants is to find enough
prospects/clients to satisfy their production requirements
Using Premiums as method of production to qualify, an aspirant needs:
1 client paying 2.2M in premiums*
10 clients paying 213K in premiums
50 clients paying 44K in premiums
*regular pay products
as most of us would not be able to have access to people capable of paying 2.2M in regular premiums, we can surely talked to people who can set aside 44k per year for their financial security, the task would just be finding at least 50 of them next year
Let us develop a plan using the following assumptions:
- to get one interested prospect we need to advocate to 5 contacts
- to get one client we need we need three interested prospect
- to get to 50 clients we need to advocate to 750 people
- as there are 52 weeks in a year, our magic number is advocating to 15 people per week
The biggest hindrance to this exercise is "call reluctance", this usually happens if we don't score a "success" after an engagement, this is where our advocacy comes to play
Advocacy starts with wanting to do good for others, as financial advisors we believe that knowing and understanding financial concepts that we are capable of "sharing" will enable others to make more informed financial decisions that could help them achieve financial independence
with an advocacy mindset - every "sharing" that we do count as one of the 750
would you like to qualify for the MDRT in 2022? would you like to earn at least a million pesos?
share your advocacy to 750 people!
review post #44 on how to use advocacy to build your prospect base
all the best my friends!
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