The 7-Year $3 Million Plan

by Bill Good Marketing on July 29, 2015

 

 


The 7-Year $3 Million Plan

 

In 2012, Josh P. was in the penalty box. His production had fallen below that near fatal mark and his payout was cut to 20%. For most, assignment to the penalty box is a career kiss of death.

But Josh had different ideas.

2012 Production $315,702.

Jan 2013 Started with the Bill Good Marketing System®.

2013 Production $354,350—broke out of the penalty box.

2014 Production $561,376. That’s a 78% increase, not quite the fabled 2-year double, but, we’ll take it.

2015 Current Production (July 27) $401,416; run rate is $696,399. EOY 2015 goal is $850,000. If he hits his run rate, that’s 120% increase over 2012—a solid three-year double. If he hits his EOY goal, that’s a j169% increase in three years.

How did he do it?

He deployed the tried and true strategy we have hard-wired into my system.

1) Keep what you’ve got. IMPERATIVE you focus first on client retention. Josh immediately implemented our client relationship retention formula.

2) Prospect. While Gorilla® fully supports eight prospecting channels, for Josh, there was one choice: cold calling.

As a penalty box resident, his personal income had been cut to $60K. No seminar budget there.

So he ordered a list of business owners with revenue of $2 million to $25 million.

His coach here at BGM helped him put the system in place to track all the leads.

For two years, Josh cold called for three days a week and filled appointments for two days a week!

Payoff: Big time. You see the numbers. Oh, by the way, don’t tell Josh that cold calling doesn’t work today. He thinks it does.

3) Get organized. Our organizational system is built around the four essential functions of the financial services business—FA, Service Assistant, Sales Assistant, and Computer Operator.

Josh did not have the capital to build the team. His firm gave him a tiny fraction of a Service Assistant.

So he boot strapped.

For these first three years, Josh became what we call a dog-cat-bird-lizard. He was, naturally, the FA. He was his own Computer Operator. He did his own service and was his own Sales Assistant. But he had the advantage that each job was organized, complete with checklists, scripts, and processes. Reinventing the wheel was not on his itinerary.

Growing Pains

Josh cannot boot strap any more.

He has 100 clients and $200M in assets. (Yes, you can cold call for HNW clients.) He is doing a lot of portfolio work. His cold calling is suffering. Because he has not had the time to spend on computer operations, his monthly drip letters are now bi-monthly letters.

The system that got him here is starting to fracture.

The solution now is controlled team building.

Right now, AUM is $194 million. When he hits $201 million, he gets a bump in his payout. He invests in 17-24 hours of Computer Operator time. That will put all his monthly drip letters, birthday letters, etiquette letters and email blasts back on track.

His next payout bump is at $206M. Between now and the end of the year, he needs to raise another $12 million. But he’s bringing in more than $2 million/month now. Should be an easy shot. At this bump, December 2015, he brings on a full time Sales Assistant.

This could cost him $50,000/year. He figures this takes his effective payout from 38% to 31%. To break even, he needs to raise about $13M to generate the $131,000 necessary to pay the $50,000 salary.

For his Sales Assistant, he should go the Relationship Manager route. This person manages his client relationships so Josh can keep cold calling.

Now it should be a straight shot to July 2017 when he is forecasting a revenue of $1.5 million and AUM of $287 million.

It’s time to strengthen the team again. He adds a full time analyst to manage the investments.

By July 2018, he has three full-time staff and is generating $3,000,000.

His effective payout is 38%.

What do you think?

Will he make it?

Would you like to give it a try?

We helped Josh.

If you take direction well, if you have a burn to grab the brass ring this industry tantalizingly offers, then:

Call Jill Dobbola
888-495-7303

You have some questions. We have some answers.

Bill

 

 


Copyright 2015. Bill Good Marketing, Inc. All Rights Reserved.

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We apologize for any interim emails you may receive.

Bill Good Marketing, 867 E 9400 S, Sandy, UT 84094 (800) 678-1480

 

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Get Ready for Fall Seminar Season

by Bill Good Marketing on July 6, 2015

 

 

 

Get Ready for Fall Seminar Season

 


Please attend my educational webianar:

Thursday, July 9th
12:00 Noon, Eastern Time

Register Here

and

Friday, July 10th
10:00 A.M. Eastern Time

Register Here

GET READY FOR FALL SEMINAR SEASON

YES, SEMINARS WORK TODAY IF …

… you get seven things right. Miss one of these “seminar success factors,” and you will struggle. Miss two and your seminars are most likely to be unprofitable.

The good news is, these seven factors can be mastered. Get these stats in “the zone,” all working together. Your seminars will smoke.

In this webinar, you will learn how to control:

Acceptance rate. It’s the invitation that brings them in. You need about .8% of a response for your seminar to be profitable. If too few people accept your invitation, your goose could be cooked right from the start. If too many accept, you probably committed another host of sins. In this section, I will show you how to get your response rate in range. The key, of course, is the invitation. And I will show you some good ones and some bad ones.

Show-up rate. You need 80% of the people who signed up to show up. This one is really not all that hard to handle … if you know exactly what to do.

Appointment request rate. This is the big one. You can fill the room with prospects who could be ideal clients … and your seminar could fail. And it could fail even if you give an excellent presentation.

Appointment set rate. This one is relatively easy to control. There are a couple of “gotchas.” But I will show you how to avoid these.

Appointment show-up rate. This needs to be about the same range as your set rate. Again, relatively easy to control as long as the “gotchas” don’t “getcha.”

Close rate. This is all about your selling skills. I will show you what the stat has to be. If you are not already there, you have some work to do. But I will point you in the right direction.

Post seminar lead management. 
Another big one!! As many as half your attendees are shopping for an event down the road. What happens to them? Chuck ‘em? Not in this playbook. Who lands these? You? A competitor?

Important Note: This seminar is complimentary. There is no obligation of any kind. We consider this part of your CME—Continuing Marketing Education.

Thursday, July 9th
12:00 Noon, Eastern Time

Register Here

and

Friday, July 10th
10:00 A.M. Eastern Time

Register Here

I do hope to see you on the webinar.


Bill Good,
Chairman of Bill Good Marketing
 


Your speaker for this webinar is Bill Good.
 

Bill is Chairman of Bill Good Marketing® . He was named one of the four top coaches by Wealth Management magazine, and he wrote the book on prospecting, “Hot Prospects.”

He has personally given thousands of seminars, and has coached thousands of advisors through tens of thousands of seminars.

You don’t want to miss this webinar.

 


Copyright 2015. Bill Good Marketing, Inc. All Rights Reserved.

To unsubscribe from our exclusive emails, click here. Please allow two weeks for your request to be processed.
We apologize for any interim emails you may receive.

Bill Good Marketing, 867 E 9400 S, Sandy,UT 84094 (800) 678-1480

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Referrals Without Asking

June 15, 2015

    Referrals Without Asking Please attend “Referrals without Asking”—an educational webinar featuring Bill Good. Thursday June 18th 4:15 p.m. ET Register Here Friday, June 19th 12:00 Noon, ET Register Here Back in the 1990s, I became the first sales manager in world history to tell his sales team, “Quit asking for referrals. It’s killing […]

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Assets Fly: What Happens to Your AUM When Clients Die?

March 23, 2015

    Assets Fly: What Happens to Your AUM When Clients Die? If a substantial percentage of your clients are retired; If a good percentage of them will be dead in ten years; If you will NOT be retired in ten years; Then you need to attend this webinar: When Clients Die, Assets Fly: A […]

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REASSESSING 2015: A Market Strategy Webinar for Advisors

February 25, 2015

      REASSESSING 2015: What the Market is Doing and What You Should Do about It A Bill Good Marketing Market Strategy Webinar Featuring John Thomas The Mad Hedge Fund Trader Thursday, March 5th 4:30 PM ET Register Here Is the bull market over? Taking a breather? Is the party over? What should you […]

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Get Better Organized—A Bill Good Educational Webinar

February 18, 2015

  Get Better Organized—A Bill Good Educational Webinar I want to invite you to attend my “Get Better Organized” educational webinar.I recently did a fascinating web search. I Googled “Benefits of Getting Organized.” The search returned: • Less stress • Relax more • More family time • Improved health • Better example for kids • […]

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Relationship Mapping: A Vital Tool to Expand Your Network and Influence

February 3, 2015

    FOR BGM SYSTEM SUBSCRIBERS ONLY Relationship Mapping: A Vital Tool to Expand Your Network and Influence Webinar for BGM Clients and Team Friday, February 6th 12:00 Noon Eastern Time Register Here A relationship map is a tool in the Gorilla software that shows how your clients are connected to the important people in […]

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Get your “mo” at Users’ Conference in Chicago

January 22, 2015

      Get your “mo” at Users’ Conference in Chicago Users’ Conference 2015 will focus on helping you achieve your goal—in two-year bites. It’s “double production” more or less, or “work half as much.” Or anywhere in between. It’s also a family reunion. Most Gorillas have attended one or more Users’ Conferences. Countless friendships […]

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