DETROIT HUSTLE
Sales Story #1: Rookie Year
When I was a rookie, Virkus used to make me bring him an active RFP every week. Specifically, a case that I didn’t think I was competitive on pricing/planned to DTQ.
Almost every time, Mike would find something I didn’t see. Being a 21 y/o Western Michigan grad, there’s no reason I would know things like advanced pricing strategy/unwriting criteria – he made me understand (literally).
Before that, as a trainee – Schiller would come into my office and go rapid-fire quiz questions on contract. As you’d expect, it wasn’t basic life or standard STD provisions – think tax choice, disability definitions, and rate load adjustments.
While the two often made me feel like shit in the process – Virkus & Schiller unquestionably made me a better rep by strengthening my awareness around previously unknown information (pricing/underwriting/contract).
Those three areas became my game and how I differentiated from the competition. I knew my competitors’ contract better than they did – a clear edge few reps have, let alone a young gun like me. In fact, aside from Ken Kelley, you won’t find many people in Colorado who understand LTD contracts better than I do.
But that’s not the takeaway; I genuinely couldn’t care less about anything I’ve done in the past. Outcomes are irrelevant - what’s important is the process. So, let’s take a look…
By making me bring a case I thought was a DTQ, combined with trying my best to avoid a wrong answer/subsequent Virkus jab – I evaluated every detail, thinking about pricing & alternate solution options from all angles.
Similar w/Schiller & contracts – I made notecards for every piece of information on every page of the product guide, spending many late nights studying whatever specimen contract I could find.
The result of all the learning?
Well, I ended up leading the west region three years (of three), maintaining top spot in the standings virtually the entire time (aside from ntnl/peo deals). But again – who gives a shit? Leading in lines serves zero importance from a business standpoint. What is important for business – is growth.
Seeing as territory growth metrics are somewhat neglected (for whatever reason), if you’d like an example, take a quick look at the three-year profile for my top broker – CoBiz Financial (now BOK): https://bit.ly/AA_Territory-Growth_CoBiz
Link opens PDF in new browser / I will call out a few points below
As you’ll see, I took a small regional broker with a virtually non-existent block, and turned it into my horse that produced nearly fifty lines and $500,000 of annual revenue.
Considering my education & proven performance in college - my sales game was strong upon joining the Michigan team.
Fresh out of school, I was a hungry dog ready to get after it, and my competitive drive was willing to do whatever it took to win – wouldn’t have mattered if I was in Detroit or Cincinnati.
Thankfully, I joined one of the highest performing offices in the history of Unum. They won two of the previous three OOTY’s / Virkus was one year removed from top 3 rep / and Schiller won rookie by nearly double that of 2nd place - now arguably the top rep in the industry.
I don’t take my development for granted – I’m proud of where I came from and the fact that I, quite literally, learned from the best. BUT…
Are Virkus & Schiller the sole reason I was successful?
Did having the information guarantee performance in the field?
If I didn’t perform, would that have made it Mike & Mike’s fault?
To all of the above – hell no! I think we can all agree there (except maybe Virk on #1)
Did it help my development & overall performance? Of course! How could it not?
Virkus & Schiller helped improve my performance by providing an opportunity to grow, simply with access & equipping me with new knowledge. If nothing else, they strengthened my awareness of what’s important for success, ultimately improving my ability as a salesperson…
Now it’s my turn.
ONE MORE SALE
Below are a few overlying value props of the workshops, and the proposal contains a few more specifics. Before I highlight the highlights, I’d like you to visualize something… one more sale.
What value stems from each rep selling just one more case? Placing one more renewal?
What kind of revenue does that generate? Goal attainment?
What’s the commission/bonus impact for the reps?