Wondering if words matter when talking with clients about their finances and wealth? Please watch this video, Change Your Words, Change Your World first.

Then, watch (or read the transciption below) about how we as financial advisors and life insurance agents can make our own impact by changing our words. This is a segment of a session I did in Scottsdale, Arizona for a group of financial advisors and life insurance agents.

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Transcription of Video

Imagine if, with every communication you shared with a client, you had the ability to evoke that type of emotion, especially when you’re talking about life insurance. Would it make a big difference in your practice? It sure made a difference in mine, especially with the words Life Insurance. I think they’re the two most misunderstood words in the English language. The hair just stands up on the back of people’s necks when you say it.

When you truly understand life insurance and the power of the life insurance tax code, you have the keys to someone’s financial freedom. But ONLY if they want to hear the message. So it’s using the words to create the environment where people actually want to hear the message and are open and willing to receive it.

The fascinating part about words is sometimes we believe we’re communicating something but it’s not being received the way we think we’re communicating it.

Start with Why
Simon Sinek started a movement with his book “Start with Why”. I watched his 18 minute YouTube video. I HIGHLY recommend you watch it. I found it so powerful that I wrote down every word. It was really the beginning of my understanding my messaging more clearly.

There is actually scientifically a connection from your gut to your brain. Often times, we can’t find the words to describe that gut reaction. As I’ll share with you, it’s because it’s a reaction from a part of our brain that is not responsible for communication but it is responsible for action and decision.

2:32
Simon Sinek talks in his book about The Golden Circle. Most people start with the outer circle, with What.  “This is what I can do for you. This is what my product can do for you. Most of us know, what we do.”

Then we move to the How, how we do it. Some of us know how to do our work better than others. The How is important but what really drives behavior is the Why. So here’s the thing. Our very industry talks to us and teaches us to sell the sizzle, talk about features and benefits, actually focusing on the product. So we start with the What. When we start with the What and  move inward, we’re actually talking to the part of the brain that LOVES numbers. That’s a comfortable place for the brain to stay.  That’s the part of the brain that’s responsible for communication.

But it’s the WHY part that drives action. That’s where, in our brain, we create emotions of trust and that drives behavior and where we actually want to be talking to people. It’s the direct opposite of what we’ve been taught.

4:28 – How many of you know why you’re in this business?

When I look back, I look at some of what I consider myths our industry has shared with us from a financial and personal perspective,  and one of them I believe for myself, is that I got into this industry because I love life insurance. Then, I bought into the belief that I should be everything to everybody. I got ALL of my other licenses and at one point, when I was with Metlife, I had my auto and homeowner license, too. I was thinking I’d be a “one stop shop”; that with all these other avenues to gain clients and because I could satisfy all these needs, they’d stay with me.

I found myself doing a lot of things that I didn’t enjoy, number one. And I really had no idea who I was. I was simply trying to be who I believed everyone else expected me to be in this industry. It wasn’t until I stepped back from that and really began to gain clarity by asking myself why I’m in this business. I got a real dose of reality.

5:57 When things changed for me
I got a real dose of reality going through the market crash of 2008. I don’t know about you but the weight of responsibility that I felt going through that time period with my clients was like none before. For the first time, I put a TV in my office so I could watch what my clients were watching and try to keep up with what they were hearing so I would know how to have a conversation with them to calm them down. Everything around us was elevating fear. Today, I talk with people who still aren’t back to where they were in 2008.

It wasn’t until after those events, when I had an opportunity to really step back, for the first time I realized, was that, you know what? I’m the advisor in this relationship and I just realized that I didn’t fully understand the degree of risk I was asking my clients to accept with their hard earned money. That just… I didn’t even know how to respond to it at first.

I thought I got into this business to help people and now I was questioning that. Did I even want to stay in this business? It was a very challenging time. I decided the best thing would be to stay and see if maybe there was a better way.

When I really thought through it, I realized that after 2008, the economics of the world had changed. So I questioned if I believe that the economics of the world have changed, does it make sense that I continue to tell my clients to do the same thing. For the first time, I began to question what I’d been following with traditional planning for decades. I just never questioned it. It was what I was taught; it must be right.

We’ve only been given half the story
As I began to question and look closer and closer, I came to the realization that we’ve really only been given half the story. We’ve really only been taught how the math piece works, but not necessarily how true wealth works. And I believe that we’ve only been given half the story because the financial information that most of us receive is built upon the agendas of the financial institutions, of Wall Street and the government. I can’t believe it took me that long to figure that out.

8:27 – Here’s My Why
From that point forward I’ve made it my mission to show people, through education, how they have the opportunity to gain greater control of their wealth rather than unnecessarily transferring their money to these institutions so that they can live a life with the freedom to save more, spend more and give more, leaving the world a better place.

Wow. That gets me up every single day. Finding my Why was so incredibly valuable.

Simon Sinek believes that we only have one Why and that it’s formed by the time you’re 15. He has written both Start with Why and Find Your Why to help you walk through the process of discovery. Simon Sinek also says people don’t care What you do; they care Why you do it. And everything you do proves that which you believe.

9:57 Make it easier on yourself
Imagine having clients that all believe the same thing you believe. What change would there be in how you work with those clients? So as I look at it today, it’s not my job to find someone who needs what I have to sell; it’s my job to find someone who believes what I believe. Because I know if they believe what I believe, then I can change their life. I have the keys to their financial freedom based on what I’ve learned

Need versus Want
What happens when you take a client from a Need perspective to a Want perspective? Think about it. Needs by their very definition are limiting. Wants are limitless. When we go to buy something we need, we research it, go online and we don’t want to spend a dime more than we have to.  If we want something, we want it and the price isn’t that important.

When we can create an environment with a client where they actually WANT, not the product, not the life insurance, but what the life insurance can DO for them, you are creating an environment where people will write big checks. It’s not for your reasons; it’s for theirs. It’s a completely different conversation.

Want to learn more about finding your why, getting unstuck and achieving massive success? I have a few openings for driven, committed advisors who are looking to take their business to the next level. Let’s talk and decide together if we’re a good match for each other.