There is great research on salespeople that actually make $1,000,000 or more per year.
Awhile ago, I posted The Secrets of Millionaire Producers, which is based on a study of 1,200 elite salespeople that consistently earn seven figures every year.
In the financial industry - sales pros like insurance salesmen, wealth advisors, brokers, etc - one key to being a million-dollar producer is to focus less on small clients, and focus more on large clients.
A lot of the good research, as you can see, comes out of the financial sales sector. This article (text below) elaborates on some of the information in the articles above.
10. Meeting With Staff to Make Decisions, Guide and Motivate
You can’t do it alone and expect to have a growing million-dollar business. Top producers know the critical importance of having a sharp and motivated team.
9. Meeting With And Delivering Solutions to A+ and A Clients
Whether you meet quarterly or annually, effectively keeping your top clients up-to-date on their situation is a key part of every advisors job.
8. Planning/Thinking Time
Striking the right balance between planning and implementing is a key skill of top producers.
7. Developing Centers of Influence
By expanding your network to include centers of influence, you can grow your business exponentially.
6. Deepening Relationship with A+ and A Clients
In order to receive new referrals from A+ clients, you have to do a great job for your best clients and help them see the value you provide. Spending time with them to deepen the relationship, whether it’s in a professional or social setting, is the way to do it.
5. Cultivating A+ Referrals
New clients are the lifeblood of a healthy business and top producers actively cultivate new A+ referrals through various business-building activities.
4. Deepening Expertise Through Reading, Attending Conferences, Coaching and Peer Networking
Top producers are always growing—and that means growing their professional expertise and actively seeking new peer-to-peer relationships.
3. Taking Care of Health and Fitness
You can’t help your clients if you’re in poor health. A side benefit here is as your health improves, so does your energy level—and that enables you to get more done.
2. Communicating With A+ Clients
AT&T used to say, “Reach out and touch someone.” Top advisors spend significant time reaching out to their best clients via quick phone calls, emails or notes.
1. Reviewing Client Goals and Objectives, Managing Assets and Research
This is your main role as an advisor — spending the time to help ensure your clients’ goals and objectives are being met.
The next article is titled How to Become a Million-Dollar Producer
outlines how one advisor coaches people to the $1,000,000 in revenue number ($1,000,000 is impressive, but not as impressive as TAKING HOME $1,000,000, which the articles earlier in this thread discuss).
Wall Street Journal: Advice for Million Dollar Producers
Excerpt:
"
Wall Street Journal: Three words of advice for million dollar producer
In September of 2010, the financial advisor careers section of Wall Street Journal asked 60 advisors from all over the U.S. for suggestions for new advisors starting in the business; with the goal of becoming million dollar producers.
Their advice came down to three words: “Narrow your focus.”
Why focus is key:
This suggestion is hardly new. For at least a decade, advisors have been told that focusing your practice to serve a defined client group is essential to maximize success.
First and foremost, narrowing your focus enables you to develop greater expertise in a specific group’s needs, so you can serve them better.
It allows you to improve the efficiency of your marketing, as you can narrow cast your message to a more clearly defined group of prospects; and focus on building partnerships with other professionals who serve the same group.
Being a specialist lowers the risks for clients who are considering referring you to friends who belong to the same group.
And in an increasingly competitive world, specializing can be a crucial point of difference; especially in larger urban center. Whether in manufacturing, retailing or professional services, the lesson of the last twenty years is clear; generalists do just fine when competing against other generalists. As soon as specialists arrive on the scene, however, generalists struggle to compete."
Awhile ago, I posted The Secrets of Millionaire Producers, which is based on a study of 1,200 elite salespeople that consistently earn seven figures every year.
In the financial industry - sales pros like insurance salesmen, wealth advisors, brokers, etc - one key to being a million-dollar producer is to focus less on small clients, and focus more on large clients.
A lot of the good research, as you can see, comes out of the financial sales sector. This article (text below) elaborates on some of the information in the articles above.
10. Meeting With Staff to Make Decisions, Guide and Motivate
You can’t do it alone and expect to have a growing million-dollar business. Top producers know the critical importance of having a sharp and motivated team.
9. Meeting With And Delivering Solutions to A+ and A Clients
Whether you meet quarterly or annually, effectively keeping your top clients up-to-date on their situation is a key part of every advisors job.
8. Planning/Thinking Time
Striking the right balance between planning and implementing is a key skill of top producers.
7. Developing Centers of Influence
By expanding your network to include centers of influence, you can grow your business exponentially.
6. Deepening Relationship with A+ and A Clients
In order to receive new referrals from A+ clients, you have to do a great job for your best clients and help them see the value you provide. Spending time with them to deepen the relationship, whether it’s in a professional or social setting, is the way to do it.
5. Cultivating A+ Referrals
New clients are the lifeblood of a healthy business and top producers actively cultivate new A+ referrals through various business-building activities.
4. Deepening Expertise Through Reading, Attending Conferences, Coaching and Peer Networking
Top producers are always growing—and that means growing their professional expertise and actively seeking new peer-to-peer relationships.
3. Taking Care of Health and Fitness
You can’t help your clients if you’re in poor health. A side benefit here is as your health improves, so does your energy level—and that enables you to get more done.
2. Communicating With A+ Clients
AT&T used to say, “Reach out and touch someone.” Top advisors spend significant time reaching out to their best clients via quick phone calls, emails or notes.
1. Reviewing Client Goals and Objectives, Managing Assets and Research
This is your main role as an advisor — spending the time to help ensure your clients’ goals and objectives are being met.
The next article is titled How to Become a Million-Dollar Producer
outlines how one advisor coaches people to the $1,000,000 in revenue number ($1,000,000 is impressive, but not as impressive as TAKING HOME $1,000,000, which the articles earlier in this thread discuss).
Wall Street Journal: Advice for Million Dollar Producers
Excerpt:
"
Wall Street Journal: Three words of advice for million dollar producer
In September of 2010, the financial advisor careers section of Wall Street Journal asked 60 advisors from all over the U.S. for suggestions for new advisors starting in the business; with the goal of becoming million dollar producers.
Their advice came down to three words: “Narrow your focus.”
Why focus is key:
This suggestion is hardly new. For at least a decade, advisors have been told that focusing your practice to serve a defined client group is essential to maximize success.
First and foremost, narrowing your focus enables you to develop greater expertise in a specific group’s needs, so you can serve them better.
It allows you to improve the efficiency of your marketing, as you can narrow cast your message to a more clearly defined group of prospects; and focus on building partnerships with other professionals who serve the same group.
Being a specialist lowers the risks for clients who are considering referring you to friends who belong to the same group.
And in an increasingly competitive world, specializing can be a crucial point of difference; especially in larger urban center. Whether in manufacturing, retailing or professional services, the lesson of the last twenty years is clear; generalists do just fine when competing against other generalists. As soon as specialists arrive on the scene, however, generalists struggle to compete."
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