Financial Services Professionals: The Business of Busy-ness, is it Destroying Your Sales?

Did you know that the word "business" actuallymarketing efforts. Everything that occurred AFTER
comes from the word "busy"?Financial services salesthe presentation became an expense in order to fulfill
offers us several ways of keeping busy. In fact,the agreement.The salesperson can certainly help
three types of activities fill everyone's days - thoseCONSERVE income by being professional and frugal
which are income GENERATING ... incomewith time. He even has the potential for
CONSERVING ... and income CONSUMING.TheGENERATING additional income by suggesting
challenge is staying focused on the right activities andanother product to the client - or by making such a
in the financial services industry you are probablypositive impression that the client would eagerly
responsible for ALL three!Income generating activitiesrecommend him to others - but the pure activity of
are the lifeblood of your business. They are whereproviding the service is income CONSUMING.If you
ALL the money comes from. Your sales are thewould like to keep your busy-ness as profitable as
result of this step well done.In this category you willpossible, here are three ways to do it:First, detach
find all sorts of activities - prospecting ... customeryourself emotionally from the assessment process so
acquisition ... marketing ... research and developmentyou can be objective and clear.Second, examine your
and that's just a glimpse.Income Conserving activitiesbusiness and decide what percentage of time should
protect your hard earned money. Here is where yoube focussed on each category.Third, decide what
preserve your sales.In this category you'll findwould be the ideal activity ratio at each level - and
activities relating to being efficient, as well as100% income generating isn't a realistic
anything that impacts good will and customerexpectation!Finally, instill in your team or yourself if
loyalty.Income Consuming activities are a normal partyou are the team, a fundamental respect for income
of every business.While many income consuming- its generation, conservation and consumption. Every
activities are necessary ... unavoidable ...important...moment of every day should be governed by a
perhaps mission-critical, most are simply a blatantsimple question: "How is doing this going to affect my
waste of time and resources and eat away at yourincome?" The answer will dictate it's priority.Priority #1
hard-earned profits.Income consuming can be tough- EVERY team member should take full advantage of
to evaluate , because on the surface they seem toevery opportunity to perform something income
be income generating or conserving. Whether it'sgenerating.Priority #2 - When not busy generating
being dragged to and through another pointlessincome, team members should seek out ways to
meeting or policies and procedures that do nothingconserve what has been gained.Priority #3 - If an
but complicate the simplest of tasks ... or (fill in theactivity neither generates nor conserves income, it
blank with whatever drive you CRAZY), the averagemust be carefully evaluated for its income gobbling
day is filled with things that are of little or no value topotential. If the activity is necessary, team members
your business.Nevertheless, activities that ARE ofshould strive to be as
PARAMOUNT importance to your business can STILLefficient as possible. If it is simply a waste of
be incoming consuming.For example: let's say aresources, it should be avoided altogether.Now, get
prospect wants your service and your friend refersout there and Do something with this information to
them to you. You make an appointment, give them aincrease your efficiency and sales - you'd hate for
presentation and they hire you. You then go back tothe time you've spent reading this to be income
the office to finish up paperwork and begin being ofCONSUMING because you did nothing useful with it!T.
service.While anyone in sales would probably argueFalcon Napier is an internationally recognized human
the point, when they do the needs analysis and thedevelopement expert, specializing in sales, leadership
paperwork, that is NOT income generating ... it'sand change management. Over the last 20 years he
income CONSUMING. That does not mean it wasn'thas developed the "MasterStream Method" to help
important - it was CRITICAL in fact! But the incomefinancial sales professionals identify more prospects
was actually generated by the salespersonsand drive more sales.