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Business Format System Duplication New Associate Training Series

Dec 24, 2015

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jacob-wade

  • Slide 1
  • Business Format System Duplication New Associate Training Series
  • Slide 2
  • 2 SMD - The Ultimate Business Position Your WFG business really begins at the SMD level. Everything up to that point is preparing you to be a successful SMD. The WFG Business Format System (BFS) is designed to 1. Help you get to SMD 2. Help you help others get to SMD Your long-term success depends on the rapid repetition of the System. Your WFG business really begins at the SMD level. Everything up to that point is preparing you to be a successful SMD. The WFG Business Format System (BFS) is designed to 1. Help you get to SMD 2. Help you help others get to SMD Your long-term success depends on the rapid repetition of the System.
  • Slide 3
  • 3 The Rapid Repetition of the System Purpose: To build a business using a system whereby recruiting never stops. To become a legend of the future, you must study the legends of the past. The speed and exactness with which you copy the system will in large part determine your success. This exactness must be duplicated throughout your team. Purpose: To build a business using a system whereby recruiting never stops. To become a legend of the future, you must study the legends of the past. The speed and exactness with which you copy the system will in large part determine your success. This exactness must be duplicated throughout your team.
  • Slide 4
  • 4 DUPLICATION Remember two things: 1.The key is to imitate, not create. 2.Marketing is the creation of the outlet and the movement of the product simultaneously. The key component of duplication is: Once you develop a Recruiters Mentality and a Builders Mindset, you will be on your way to creating A System Whereby Recruiting Never Stops. Remember two things: 1.The key is to imitate, not create. 2.Marketing is the creation of the outlet and the movement of the product simultaneously. The key component of duplication is: Once you develop a Recruiters Mentality and a Builders Mindset, you will be on your way to creating A System Whereby Recruiting Never Stops.
  • Slide 5
  • 5 The Power of Duplication To control and draw on the power of duplication it is important to have a blueprint that is easy to follow. To help in the duplication process follow these steps: Train an associate, teaching him/her exactly what he/she needs to know to win. Keep the information and training simple. Make the blueprint for your business, your motivation, recognition systems, and recruiting programs easily transferable. To control and draw on the power of duplication it is important to have a blueprint that is easy to follow. To help in the duplication process follow these steps: Train an associate, teaching him/her exactly what he/she needs to know to win. Keep the information and training simple. Make the blueprint for your business, your motivation, recognition systems, and recruiting programs easily transferable.
  • Slide 6
  • 6 The Power of Duplication Follow the Business Format System. Master the system, and then keep it the same for years. Study the blueprints they are in every facet of this business over and over again. Make sure the master copy is worth duplicating its the best way to get a high level of performance. Follow the Business Format System. Master the system, and then keep it the same for years. Study the blueprints they are in every facet of this business over and over again. Make sure the master copy is worth duplicating its the best way to get a high level of performance.
  • Slide 7
  • 7 The Power of a Marketing Mentality A marketing mentality is an important trait in the WFG business. To have a marketing mentality its necessary to think of your business as the ultimate distribution system one that could be used to market any product to consumers. Two factors that help determine how large companies grow and how much of the market they can capture are: 1. The continuous opening of outlets. 2. The volume of production per outlet. In this business, every person is potentially an outlet. An outlet is anyone who is insurance licensed and securities registered and who can offer products to the consumer. A marketing mentality is an important trait in the WFG business. To have a marketing mentality its necessary to think of your business as the ultimate distribution system one that could be used to market any product to consumers. Two factors that help determine how large companies grow and how much of the market they can capture are: 1. The continuous opening of outlets. 2. The volume of production per outlet. In this business, every person is potentially an outlet. An outlet is anyone who is insurance licensed and securities registered and who can offer products to the consumer.
  • Slide 8
  • 8 The Power of Simplicity Everyone by now has heard of the acronym K.I.S.S. Keep It Simple Stupid. Keeping things simple is the secret to building a strong WFG business.
  • Slide 9
  • 9 Lots of People Doing a Little Bit & A Few Doing A lot An important principle in building is realizing that you dont have to have a lot of superstars to build a great team. Lots of people doing a little can be better than a few doing a lot. Not every person you recruit will become a great leader in this business, so what you really owe to the new associates you recruit is: Give them an opportunity. Give them an example of success. You may also suggest that an associate use WFG as a second-income career*, keeping her/him current job until it makes sense for her to make a full-time commitment to the opportunity. * Some Canadian provinces require a full-time career in financial services and do not permit a part-time opportunity. An important principle in building is realizing that you dont have to have a lot of superstars to build a great team. Lots of people doing a little can be better than a few doing a lot. Not every person you recruit will become a great leader in this business, so what you really owe to the new associates you recruit is: Give them an opportunity. Give them an example of success. You may also suggest that an associate use WFG as a second-income career*, keeping her/him current job until it makes sense for her to make a full-time commitment to the opportunity. * Some Canadian provinces require a full-time career in financial services and do not permit a part-time opportunity.
  • Slide 10
  • 10 Its In The Numbers According to the law of averages, there will be those associates you recruit who while being great team members are not ready or willing to become superstars in the business. To overcome the negatives inherent in the law of averages, its important to harness the power of high numbers. The Law of Averages at Work Recruit 25 - 50 percent of all your prospects 400 interviews = 100 new people 100 people = 50 licensed associates/registered representatives 50 licensed associates/registered representatives = 1 SMD 25 SMDs = 1 strong builder It may be possible to achieve financial independence by helping to build seven to ten builders. Although this may take thousands of interviews, dont get discouraged you can do it. According to the law of averages, there will be those associates you recruit who while being great team members are not ready or willing to become superstars in the business. To overcome the negatives inherent in the law of averages, its important to harness the power of high numbers. The Law of Averages at Work Recruit 25 - 50 percent of all your prospects 400 interviews = 100 new people 100 people = 50 licensed associates/registered representatives 50 licensed associates/registered representatives = 1 SMD 25 SMDs = 1 strong builder It may be possible to achieve financial independence by helping to build seven to ten builders. Although this may take thousands of interviews, dont get discouraged you can do it.
  • Slide 11
  • 11 The Magic of Compound Building A Recruiters Mentality Recruiting is an all-the-time thing. It is a state of mind. Look for quantity, get quality. Build to Max-out Profits 1. Wide 2. Deep 3. Wideand Deep A Recruiters Mentality Recruiting is an all-the-time thing. It is a state of mind. Look for quantity, get quality. Build to Max-out Profits 1. Wide 2. Deep 3. Wideand Deep ASSOCIATE 2A ASSOCIATE 3A ASSOCIATE 3B ASSOCIATE 3C Depth = Stability of Income NEW ASSOCIATE 1 ASSOCIATE 2 ASSOCIATE 3 ASSOCIATE 4 ASSOCIATE Width = Profitability
  • Slide 12
  • 12 The Magic of Compound Building Primary: GO WIDE Secondary: GO DEEP You can go Deep after you go Wide but you cant have depth in a leg you havent started. You can control the planter, but you cant control the plant. Building Outlets 1. Opening outlets is an all-the-time thing. 2. Have quantity to get quality. Open Outlets and Move Products Simultaneously Primary: GO WIDE Secondary: GO DEEP You can go Deep after you go Wide but you cant have depth in a leg you havent started. You can control the planter, but you cant control the plant. Building Outlets 1. Opening outlets is an all-the-time thing. 2. Have quantity to get quality. Open Outlets and Move Products Simultaneously
  • Slide 13
  • 13 Speed Width Recruit In Bunches To say you are going to go wide is not enough. How wide? is also something that needs to be considered. When trying to build, how can you tell who will make it in this business? You can't. There are people who are serious about this business and those who are not and they all look alike when you first talk to them. For this reason its important to look for many people. Recruiting in quantity can also help avoid the pitfall of waiting the tende