by Helmi Hakim | Dec 24, 2008 | Insurance, Investment
Some of you reading this blog, are business people.
Some of you reading this blog, are salespeople.
Some of you reading this blog, are financial associates. (like me) 🙂
If you belong to any of the above category, what I am about to share with you, will be something worthwhile reading.
I am going to share with you a formula, I read from Adam Khoo’s book, “Secrets of Building Multi Million Dollar Business” that will help you, INCREASE your sales revenue by leapts and bounds.
I will put it in my context, and I hope you can put yourself in my shoe, and later apply this concept in your own business.
If you happen to be my client, you will be nodding your head in solidarity agreement, that whatever I did, mutually BENEFIT both parties.
Myself from a business point of view, and YOU, as my client.
The formula is…
Total SALES REVENUE = Number of Clients X Average Dollar Purchase X Number Of Repeat Purchase
Ways To Increase Number of Clients
1) Create Blog & Maintain Email List
2) Social Media like facebook, friendster, myspace +++
3) Make more cold calls
4) Telemarketing
5) Roadshows
6) Network in Seminars
7) Referral System
Ways To Increase Average Dollar Purchase
1) Financial Planning
This is the only way for us to uncover the true shortage of critical illness coverage one needs as a form of income replacement, funds needed for retirement or funds needed for children’s education
2) Education
Our duty as financial associates is to educate and motivate you to make the right decisions. Once, you see and you understand the needs and the rationale, only then you will make the decision.
Ways To Increase Number of Repeat Purchase
1) Exceed clients expectation and give them a wonderful experience
2) Build friendship with them
3) Keep in regular contact
4) Send them special occasion card
5) Start a loyalty program
6) Again…Financial Planning…
Through proper financial planning, an advisor will have a proper system to follow up with client. Advisors can do yearly review, to help identify clients’ contemporary needs in years to come.
Thus far, I strongly believe that financial planning is the most powerful methodology that can benefit both clients and us, as advisors. 🙂
by Helmi Hakim | Oct 31, 2008 | Investment
I did a lot of roadshows.
You may find me a very FAMILIAR face in Toa Payoh MRT, in East Point, in front of Civic Centre…. everywhere….all over Singapore. 🙂
…and in meeting Singaporeans…Yes! real people like you and me….I discover something disturbing…
Many people failed to plan for their retirement….and here are their excuses comments.
1) “My money in my CPF is already a lot, enough to fund for my retirement needs”.
My reply: Most of your money in CPF has been used to pay for your house. You need to start saving now.
2) “My retirement days still FAR AWAY. I need to use my money now to buy CAR, HOUSE….. I will do it when I am older”
My reply:The opportunity cost of procrastination is huge. You can start something small, and gradually increase it. You need to start saving now
3) ” How do I plan for my retirement? No one has helped me before in this.”
My reply:Call Helmi Hakim at +65 96520134. He will help you plan for your retirement.You need to start saving now.
4) “I got too much financial commitments. Need to take care of my parents, children, pay off mortgage loans etc”
My reply:Create your own personal cashflow statement and try to reduce your variable outflow. You need to start saving now.
5) “When I retire, I will downgrade my house to a less expensive one and the profit, I will use it for my retirement”.
My reply: This method may inject uncertainty into the process because the property market can be volatile and if you were to retire at a time when the value of your real property crashes, your main source of retirement nest egg would be SEVERELY AFFECTED.
Furthermore, a decision to downgrade may not be an easy one to make on an emotional and psychological level as you may be so used to a certain standard of living that you will find it difficult to downgrade when the time comes for you to do so.
Therefore you need to start saving now.
…………………………
AHA…Now, we have been talking about retirement planning. Have you start planning for your retirement? 🙂
by Helmi Hakim | Aug 2, 2008 | Insurance, Investment, Miscellaneous
My friends and I usually have interactive discussions, brainstorming on how each of us, interpret proper financial plannning for our clients.
I extract the terminology of “financial planning”, in the coursebook CFP module 1.
Financial Planning is the process of meeting an individual’s life goals through the proper manageent of his finances, and involves
1) gathering relevant information
2) setting life goals, examining his current financial status
3) coming up with a strategy or plan for how he can meet his goals given his current situation and future plans.
All in all, there are 797 6 steps to the financial planning process.
Establishing and defining the relationship with the client
2) Build Rapport With Client Gathering client data
3) Analysing and Evaluating the client’s financial status
4) Developing and presenting the financial plan recommendations
5) Prepare a 30 page financial report Implemementing the financial planning recommendations
6) Monitoring
I subscribe to these principles when a client is entrust on me.
There are many modes, ways, a proper financial planning can be conducted, and this is the most accurate way.
This is the status quo.
I will share more with you SOON! 🙂
by Helmi Hakim | Feb 19, 2008 | Insurance, Investment, Miscellaneous
At times, clients feel at ease when talking to me.
They find my explanation simple and easy to understand.
I never talk too long, yet not too short.
Just nice. 🙂
Today, I will let out a little secret here. (You are very lucky, coz I dont have much secrets anyway 😛 )
If you are a financial associate like me, take my advice and I assure you, you will have lots of clients waiting eagerly, to get a plan from you without having you trying to persuade them much.
If you are my client right now, you will be nodding your head in full agreement, acknowledging what I will explain here.
Its a fact.
Everyone in Singapore knows the importance of financial planning.
They know its is very important to have insurance for coverage, to have savings for their future needs,and to have investments to meet their financial objectives in life.
This is the status quo in Singapore as majority are well educated today.
For many, they know all that.
For many, they just wants transparency in your dealings as an advisor and sincerity in your effort in recommending quality financial instruments to them.
When I communicate with my clients, I will always, always be very direct.
Straight to the point.
…and I love educated clients, because they know what I am going to say and usually even before I complete my presentation, they will just say “Okay, I will sign up the plan with you”.
I will retort “I have yet to complete my presentation. Its better for me to complete it so that you can have a clearer picture.”
Some will answer ” No need. My brother, my friends, my relatives etc2, is an insurance agents, and I get the plan from you because you explain about the plan in simple terms and I know it’s for me”.
End of story.
So… First thing first. Be very transparent.
Tell all your clients about the benefits they will get and also the charges involved. Tell you clients, what you expect from them.
Generally, advisor like us expect commitment from the client so as the clients themselves can reapt the fullest potential from the plan they have undertake.
Second thing, trustability.
I am very happy that majority of my clients trust me as their financial associates.
From trust, we build relationship, and from there, the cycle of financial planning continues.
That is what we called “long lasting business relationships”! 🙂
