When it comes to being a retirement plan provider and selling your services, you have to have it. Those who have it, succeed. Those who don’t, don’t. You can’t get it from a bottle, a book, or course.
What is it? It’s the ability to connect with potential clients. They have to buy what you’re selling and what you are selling is really yourself. You can’t be too pushy, you can’t be too meek, but probably something in between.
It’s all about connecting with that audience. Years ago, when I worked for a third party administrator, I thought I had it. My boss thought differently, but the salesman there by the name of Rich Laurita saw that I had it, so that’s why he brought me on to many sales meeting. Probably also because despite how Rich had it, he knew very little about the operations of retirement plans.
Connecting with the audience is when the audience understands what you are selling and wants it. Talking over their heads or in some actuarial gibberish or ERISAese won’t do it. Most plan sponsors have no idea about the basic concepts of retirement plans, so what you have to do is to talk to them in a language they can understand.
It should be noted that the talent for selling isn’t like athletic talent; you don’t have to be born with it. You can learn it and refine it over time. Believe me when I first started in this business, I was terrible. That’s probably why my boss thought I didn’t have it, I’m sure he thinks differently today.