David Mullens Audio Files Essay

Discuss in detail the proven system for becoming a top producer.

How will you apply this to your own practice?

INTRODUCTION :

Dave Mullen:

26 of 27 years with Merrill as FA, became a producing manager branch and complex

Building a foundation for a million dollar practice

Best people in this industry think beyond the stage their in and think about where they want to go. Build a strong foundation.

1/100 reaches million-dollar level. Industry wide.

Don’t reach because
1) They don’t know how, misdirected energy. Have a blue print.
2) They don’t want it. Look inside and execute training.

3 Stages
1) Building foundation, no relationships. Hardest part. But if you do it right you will increase the odds of having successful career
2) Taking that foundation and leveraging current clients to take you to the next level
3) Going beyond a million to a multi million-dollar practice. Bigger relationships.

M developing market action plans
A priority is appointment
R building rapport by connecting with prospect
K keeping in touch, strong number 2.
E having a strong pipeline that you are elevating or eliminating
T spending appropriate amount of time in front of clients/prospects

MOTIVATION :

1. But yourself in front of clients, and be able to accept rejection.

Difference between successful and unsuccessful clients: willing and able to put themselves in front of potential rejection to get meetings with prospects.

This job and success in this job involves getting in front of people who have MONEY!

Give you the keys to a car, but you need gas in the car. Motivation is gas, for the car that is the tools you need.

Rejection the “r” word. It occurs because everyone you want already has someone. What you have to do is disinter mediate an existing relationship.
What you’re providing is intangible and uncertain.

4 tools for rejection.
1) Having the right mind set from the beginning. Believe in yourself, doing good for people. Not selling, but helping and providing them with a service. MONEY is the most important thing to a person next to health.
2) It’s a low percentage, high pay off business. In America, for 1 million there are 10,000 people have 1 million or more in investible options.
3) Making it personal. Just having a million dollar goal is not enough, have to care deeply and have a vision.
4) Understanding that the more you do this, the better and more confident you will be.

CAN NOT postpone things that may be challenging or difficult.

The rewards of being successful are worth far more than the pain of rejection.

7 hours a day, talking to prospective clients.

Productive time
1) marketing contacts
2) being on apointments
3) following up

He who is not courages enough to take risks will accomplish nothing in life –
Cascious clay

Had to motivate themselves constantly to counter the fear that they had with courage. Fear is a natural part of being successful. - Thomas Stanley

Vision with action is merely a dream, action with out vision passes the time, vision with action can conquer the world.

THE NUMBERS

be GOAL ORIENTED

Condense the goals into the ones that are most important.

Average million dollar practice has 70-75 relationships between 250-million
And 30-35 that have a million or more.

Takes the same amount of time to invest a million that it does for 100,000.

VOLUME is very important.

Have every aspect of every clients money is ultimate goal, but not always not necessary.

12 million in new assets annually. At 80 basis points velocity. Genearate 100,000 a year.

Develop a pipeline of 100 qualified prospects.

How do you get there?
-8 appointments with new prospects a week. -maybe 4 will be legitimate prospects -other 4 wont be

4, 100,000 or more prospects a week for 6 months is a pipeline of 100 prospects. -about 25% of those will turn into clients.

Leverage experience of team

CHARACTERISTICS:

Goals: affluent clients and assets

-Be Very Goal Oriented!
-Commitment to marketing!
-Doing the

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