| PS4BW | Ag2 | m | (Conan, age 25, salesman) unspecified |
| PS4BX | Ag2 | f | (Karen, age 32, salesperson) unspecified |
| PS4BY | Ag4 | m | (Bob, age 53, salesman) unspecified |
| PS4C0 | Ag4 | m | (Peter, age 47) unspecified |
| KM5PS000 | X | u | (No name, age unknown) unspecified |
| KM5PSUNK (respondent W0000) | X | u | (Unknown speaker, age unknown) other |
| KM5PSUGP (respondent W000M) | X | u | (Group of unknown speakers, age unknown) other |
| Unknown speaker (KM5PSUNK) |
[1] And two, Healthmaster is designed to meet client needs in the following areas. [2] A, protection of income in the event of being unable to work through sickness. [3] How do we feel about that? [4] Yes, fairly positive on that one? [5] Yes it certainly was A, erm, anybody have anything different to that? [6] Anybody got any queries on that? [7] No, move on then, number three, in what circumstances should you recommend a deferred period of thirteen weeks instead of twenty six weeks? [8] When the client's employers stop paying salary after thirteen weeks' absence through ill-health. [9] That's D, and that is the right answer. [10] Anybody got anything they want to talk about on that? |
| Unknown speaker (KM5PSUNK) |
[11] No |
| Conan (PS4BW) |
[12] All fairly happy with that, yes? [13] Good. [14] Ah, number four, [laughing] interesting one this, actually we did have a few er, mishaps on number four [] , employed client twenty four thousand, I'll just do this one on the board, I think it might be an idea. [15] [...] move it along. [16] The employed client at twenty four thousand pounds a year income, other P H I cover of eight thousand a year ... so assuming the state person's ability benefit is two, nine, one, seven, what's the maximum Healthmaster benefit allowed? [17] Okay, do you want to start talking me through this? [18] What are we going to do with this one first of all? |
| Unknown speaker (KM5PSUNK) |
[19] Take seventy five per cent away. |
| Conan (PS4BW) |
[20] Right so we go like that, yes, times point seven five, I think that comes to erm, oh eighteen thousand? |
| Unknown speaker (KM5PSUNK) |
[21] Yes |
| Bob (PS4BY) |
[22] not by my maths it doesn't |
| Conan (PS4BW) |
[23] Sorry? |
| Bob (PS4BY) |
[24] Not by your maths it isn't Bob, ah, right, yes, well, little clue there in future for you. [25] Twenty four thousand, at seventy five percent will give you eighteen K. [26] ... What I am going to do now? |
| Unknown speaker (KM5PSUNK) |
[27] Take away eight thousand. |
| Conan (PS4BW) |
[28] Take away the eight thousand existing P H I cover, absolutely crackamondo, leaves us with the nice round sum of ten thousand pounds, and what I am going to do now then folks? |
| Karen (PS4BX) |
[29] Two one two off. |
| Conan (PS4BW) |
[30] I'm going to take off the two nine one seven, aren't I? [31] Yes, take off the two, nine, one, seven, well. [32] Do a quick bit of maths here, so seven from ten is three, two from ten is eight, ten from ten is nothing, three from that is seven, seven, oh, eight, three which surprisingly enough was answer B. [33] Alright, Okay all fairly happy with that calculation? |
| Karen (PS4BX) |
[34] Yes |
| Conan (PS4BW) |
[35] It wasn't a difficult one really was it? |
| Unknown speaker (KM5PSUNK) |
[36] No |
| Conan (PS4BW) |
[37] Just enough to make sure [laugh] Okay, maybe not a difficult as that one was, just enough really to make sure that you knew how to do the calculations. [38] Alright, number five then, Healthmaster is not available to, and this caused a few upsets as well, erm, A employed persons, well quite obviously it's available to them. [39] B, retired persons that was the right answer, right, B, retired persons was the right answer, now some of you put D, ... anyone not gainfully employed and I did think I'd explained it clearly [...] |
| Unknown speaker (KM5PSUNK) |
[40] My daughter's doing a media degree actually, and she just brought er, one of those things home with her [...] period is one of her fieldwork, as part of her fieldwork is to interview people [...] , is that what your background is? |
| Unknown speaker (KM5PSUNK) |
[41] Not really no, I mean, erm, I did a three year national diploma in music, music recording |
| Unknown speaker (KM5PSUNK) |
[42] Ah, right |
| Unknown speaker (KM5PSUNK) |
[43] and then through a friend who was working at , got a job; most of my work actually involves working with computers, it's only now and again I actually get to go away and actually do some recording, which I [...] |
| Conan (PS4BW) |
[44] That's not going to work with [...] , five thousand six hundred, so that's where some people got the figure worked out, actually looking at the term as a parrot strings the term [...] in some of these places, Okay number six, Healthmaster provides long-term benefits for individuals unable to return to work because of illness or injury. [45] This type of plan is know as I think B is the answer, you know, of anybody got that wrong I think a severe smacking on the head is probably due. [46] Number seven, the element of risk on a Healthmaster plan, D increases as the occupation class increases, i e, number one is low, number four is high. [47] Yes, all comfortable with that, no problems with that? [48] Okay. [49] Number eight, which of the following [...] affect premiums? |
| Unknown speaker (KM5PSUNK) |
[50] On all of them? |
| Conan (PS4BW) |
[51] B, smoking status, alright, now this caused a little bit of upset, and I think we just like to clarify that. [52] You've noticed that Healthmaster does not have erm, just smoker, non-smoker rates, because if we actually just simply mention dwelled on that perhaps we should've little bit longer. |
| Unknown speaker (KM5PSUNK) |
[53] Why, why is that? [54] All the other life assurance. |
| Conan (PS4BW) |
[55] They're life assurance aren't they? |
| Unknown speaker (KM5PSUNK) |
[56] Yes. |
| Conan (PS4BW) |
[57] This is a training session for [...] , life assurance, well it's to pro , it's to provide permanent health insurance benefits, and whilst I think there's evidence at the moment to suggest that obviously your health is in [...] by smoking, erm, insurance companies haven't got round yet to saying it's enough of a risk that it will keep you off work, although quite clearly I think it will. |
| Unknown speaker (KM5PSUNK) |
[58] Erm, so that's why I put down six, so, you could also put, you know, if you want to, it all down to the matter of doing the same job, |
| Conan (PS4BW) |
[59] But that's all really reflected in the rate isn't it? |
| Unknown speaker (KM5PSUNK) |
[60] yes, yes. |
| Conan (PS4BW) |
[61] And whether it's male or female, so, number eight, and in fact, number nine as well, because number nine was that couple of questions I said look don't get confused, they are actually [...] [clears throat] |
| Unknown speaker (KM5PSUNK) | [...] |
| Conan (PS4BW) |
[62] that's bad news yes, that was in fact the bad news, yes, and that's what I think what did a couple of them |
| Conan (PS4BW) |
[63] Yes, I think that's probably what your, your problem was there John, so we're all clear about that then? [64] Smoking status is not an issue with Healthmaster, and most of you |
| Unknown speaker (KM5PSUNK) |
[65] [...] , in fact I recorded all that [...] |
| Conan (PS4BW) |
[66] And most of you caught on to that, number ten, policy reviews are a check to see if D, current benefits can be sustained. |
| Unknown speaker (KM5PSUNK) |
[67] If I come back and say [...] |
| Conan (PS4BW) |
[68] It's as simple as that, anybody have a problem with ten? |
| Karen (PS4BX) |
[69] yes |
| Unknown speaker (KM5PSUNK) |
[70] Oh, great, so |
| Karen (PS4BX) |
[71] I put the level of benefit does not exclude the client's salary, because that was the |
| Unknown speaker (KM5PSUNK) |
[72] Thanks a lot |
| Karen (PS4BX) |
[73] That was the one thing you warned us to be careful on, so that the benefit [...] |
| Conan (PS4BW) |
[74] I certainly did , yes, I certainly made a point that you must be careful that, erm, particularly the self-employed, that you don't exceed the maximum allowable. [75] However, we also went on further down the road, I think you're just getting a little confused here, which on, by Thursday, is not surprising. [76] Erm, you went down the road, you remember we showed the slide that said policy reviews? |
| Karen (PS4BX) |
[77] Mm |
| Conan (PS4BW) |
[78] And we just went through them, the same procedure as it is for all our policies, which is eight point two, five, growth percent. [79] Yes?, and that's what it's getting at, Karen. [80] Not difficult to get confused, I mean, I still think your heart's in Emmerland, |
| Karen (PS4BX) | [laugh] |
| Conan (PS4BW) |
[81] Emmerdale, Emmerdale Farm land. [82] Okay, number eleven, policy reviews are a check to see if, D, the fund can support future charges. [83] Which is just another way of saying health cover benefits can be sustained, in fact, doesn't it? [84] Okay. [85] Number twelve. [86] Twelve, what is the company's standard definition of disability. [87] C was the answer. [88] [reading] Unable to perform any part of his normal occupation, and is not following any other gainful occupation [] D. [89] Sorry, I'll try that again, number thirteen I meant. [90] Erm, under the inflation-proof plans, erm, just go for a straight A, B, C, D here folks. [91] A, premiums increase on each policy anniversary, B, cover escalates on each policy anniversary, C, benefit in payment increases annually in line with R P I, yes, all true so far? |
| Unknown speaker (KM5PSUNK) |
[92] yes |
| Conan (PS4BW) |
[93] D, normally increases do not require health evidence, yes? |
| Unknown speaker (KM5PSUNK) |
[94] Yes |
| Conan (PS4BW) |
[95] Remember we said about, that only applies if you miss two consecutive erm, years' rise in the R P I, then we'll say right, if you want to take up any more, than we'll need a medical. [96] So it's A, B, C, D. [97] ... F, why did put F oh you asked me about F didn't you? what did you put, did you put F in the end? |
| Karen (PS4BX) |
[98] No |
| Conan (PS4BW) |
[99] No you didn't good. [100] Fourteen, A, a choice of investment plans, is that a benefit on Healthmaster? [101] I think I'd have to actually, should have perhaps warned you about this, but er, er, in point of fact, not too many people got this, I think there was one of two that got this wrong. [102] Erm, you do have choice of funds, but remember I said, however in practice, you really should only choose the managed. [103] Yes? |
| Unknown speaker (KM5PSUNK) |
[104] Mm |
| Conan (PS4BW) |
[105] That may have, I suppose, erm, sort of led some people to believe that we don't have a choice, but technically we do. [106] But in practice, hey, be careful, you know, you could be letting yourself in for a bit of trouble, if you start recommending the equity fund for Healthmaster or something. [107] Okay, B differential smoker, non-smoker rates, well we know you don't have that, don't we? [108] C, waiver of premium benefit, we do have that, D, options for cover to increase in line with inflation, we certainly have that, E, do we have min, max, and standard levels of cover? [109] No we don't, that's a reference to the old style er, Covermaster, by the way actually. [110] [...] F, options for benefits in payment to increase in line with inflation, do we have that? [111] We certainly do, so A, C, D, and F, were your options on question fourteen. [112] And to round all off, number fifteen. [113] Premiums under Healthmaster may be, A, increased as the benefits increase with R P I, can they? |
| Unknown speaker (KM5PSUNK) |
[114] I think so, |
| Karen (PS4BX) |
[115] Yes |
| Conan (PS4BW) |
[116] Good, paid monthly? |
| Unknown speaker (KM5PSUNK) |
[117] yes |
| Conan (PS4BW) |
[118] C, escalated at ten percent for seven simple for five years? |
| Unknown speaker (KM5PSUNK) |
[119] No |
| Conan (PS4BW) |
[120] Correct, D, level? |
| Unknown speaker (KM5PSUNK) |
[121] Yes |
| Conan (PS4BW) |
[122] E, paid annually? |
| Unknown speaker (KM5PSUNK) |
[123] Yes |
| Conan (PS4BW) |
[124] F, escalates over twenty percent over five years? |
| Unknown speaker (KM5PSUNK) |
[125] No |
| Conan (PS4BW) |
[126] No, quite clearly not , so A, B, D, E, [...] all quite happy now where we went wrong and tripped up? |
| Unknown speaker (KM5PSUNK) |
[127] yes |
| Conan (PS4BW) |
[128] Well I say happy, that's a term of course I use loosely in that context. [129] Okay let's move on then folks to knowledge. [130] ... Just had a very interested chat with Chris last night, I suppose you want an up do date, I want to know what you use that for? [131] We started talking and it's all figures flying [...] , and if fact it's that Casio three, eight, seven. |
| Unknown speaker (KM5PSUNK) |
[132] Does he want it? |
| Conan (PS4BW) |
[133] Sorry, |
| Unknown speaker (KM5PSUNK) |
[134] Does he want it? |
| Conan (PS4BW) |
[135] Of course he wants it. |
| Unknown speaker (KM5PSUNK) | [laugh] |
| Conan (PS4BW) |
[136] [laughing] Does he want it, is the earth round? [137] Is the Pope Catholic?, does Judith Chalmers have a passport? [] |
| Unknown speaker (KM5PSUNK) |
[138] A false one perhaps? |
| Unknown speaker (KM5PSUNK) | [laugh] |
| Conan (PS4BW) |
[139] Yes, does Rose Kennedy wear a black dress? |
| Unknown speaker (KM5PSUNK) | [...] |
| Unknown speaker (KM5PSUNK) |
[140] Sorry could I just have erm, hand the sheet out on that [...] . [141] Obviously, where I actually went wrong on the |
| Conan (PS4BW) |
[142] Erm, no, not at, at this moment, but catch me at the break, and certainly you can. [143] We'll talk about your [...] football I suspect. [144] Yes, interesting, I'm going to tell him now, and that three sets, [...] obviously you know, you can work that out in seconds flat, it will be bound to be how most people do this sort of thing, and when it's their full-time job, [...] Oh, right, just come out of there. [145] It's the same, when he, Chris always doing it in two seconds flat, he went ... like that, you're going right,. |
| Unknown speaker (KM5PSUNK) |
[146] Different, different planets? |
| Conan (PS4BW) |
[147] It was yes, indeed. [148] No, no change there for me, then some might argue, it's er. [149] Okay, moving on then Healthmaster knowledge. [150] Number One Healthmaster's only currently in following areas, quite clearly it was C, protection of income in the event of being unable to work through sickness. [151] Anybody got a problem with that one? [152] No, moving on then number two, Healthmaster is B, a non-qualifying unit income plan that provides P H I benefits, much the same as er, your first paper. [153] Remember we said the other week there would be some questions that will be shared between the papers because they're mandatory, and therefore [...] pertains to talk about that particular product. [154] Number three, what are the current [...] premiums for a new Healthmaster policy? [155] I must remember to get some oil for you Peter? [156] Er, number three, B was the answer, twelve pounds per month and a hundred and twenty sovs. per annum. [157] Sovs. being the technical term there for pounds. [158] That's right. [159] Number four, what is the minimum age at entry for new policies? [160] And those of you who recalled rightly, that seventeen next birthday was the answer, put down C, as the correct answer. [161] And indeed that was correct. [162] Number five, if the clients wish to switch testing units in any fund into units of any other fund, it's a well written question isn't it? the switch will be made from A, was what we were looking for, bid to bid in both funds, bid to bid, and that generally applies on all our stuff, so it's quite worthwhile knowing. [163] Okay, number six, what is a recurring disability claim? [164] Well, where disability commences within six months of returning to work after a previous claim due to the same or related causes in which case no deferred period will apply, and so therefore your right answer is B folks. [165] Anybody have a problem with that? [166] All quite happy? [167] Okay, number seven then, waiver of premium benefit under Healthmaster, B, will commence once income benefits are payable. [168] Right, it wasn't C, I don't think anybody got that wrong actually, erm, just occasionally you normally get at least one or two people want to put C, because they know that waiver of premiums is twenty six weeks on every other plan. [169] But er, I think all of you got through that one, so B was your right answer there. [170] Number eight, when an increasing benefit or an inflation-proof plan is in payment, the payments will escalate by, C, the increase in Retail Price Index at the policy anniversary, subject to a maximum increase of ten percent per annum. [171] All quite happy about that one? [172] Splendid. [173] Rapidly moving on then to number nine, when can crisis cover be added? [174] B, only when a deferred period of four weeks is chosen. [175] All quite happy about that, yes, I don't think anybody got that one wrong. [176] Number ten, how long does an individual policy holder benefit from the tax holiday? [177] A, was the correct answer, until benefits have been payable for one full tax year. [178] All quite happy with that one? |
| Unknown speaker (KM5PSUNK) |
[179] Yes |
| Conan (PS4BW) |
[180] Splendid, number eleven. [181] Which occupation classes can have a deferred period of four weeks? [182] And this in fact oddly enough, did cause a few upsets. [183] Which occupation classes can have a deferred period of four weeks. [184] I think five of you put B, which was the right answer, one, two and three only, and the rest of you put A, which is the wrong answer, all of them. [185] If you recall yesterday, I think yes, the term sick as a parrot is becoming quite a, er, apparent to me in here again, that's again looking at your faces, some of you, so you're all quite happy about that one, you knew where you went wrong there. [186] It was one, two and three only. [187] Number twelve, under Healthmaster, the income will be paid if the illness or accident prevents the insured from following B, any part of his normal occupation and he is not undertaking any other paid employment. [188] The same sort of question there, no problems with that. [189] Number thirteen, what is the proportion of benefit ... C was your right answer, a reduced benefit, payable throughout the working life, if the life assured is unable to follow their normal occupation and engages in a different occupation at a lower income. |
| (KM5PS000) |
[190] Should that read not more properly have read may be payable? |
| Conan (PS4BW) |
[191] Erm, I wouldn't disagree with that Giles actually, I wouldn't disagree, |
| (KM5PS000) |
[192] Because it is Ab , Abbey Life's, at Abbey Life's discretion, we do in fact say that on our last line don't we? |
| Conan (PS4BW) |
[193] Yes, well indeed. [194] Well, I think again we can just erm, ... er, again if we just think about the fact that we didn't write the questions |
| (KM5PS000) |
[195] No it's just |
| Unknown speaker (KM5PSUNK) | [laugh] |
| Conan (PS4BW) |
[196] It's a sore subject with trainers, I can assure you, Giles, it really is. [197] Yes, I agree with you, perhaps that would be a better way of doing things however, most of you got that right, I think, if not all, so. [198] Number fourteen, which version of Healthmaster is not available, obviously a trick question this one, A, a low-start plan is not available. [199] Fifteen, which one of the following does not affect the premium rate. [200] Well I think we've had this one before, John, haven't we? would you care to just enlighten me on this one? |
| Unknown speaker (KM5PSUNK) |
[201] Well this is the smoking status. |
| Conan (PS4BW) |
[202] Absolutely right, sir, yes, and that one's on the board isn't it, so B was your er, right answer there. [203] That includes this rather wonderful epic version of Healthmaster examination questions, and ladies and gentlemen without any further ado may have a big hand for that wonderful trainer, Mr. Peter yes. [204] Peter . |
| Unknown speaker (KM5PSUNK) |
[205] Oh, yes. |
| Peter (PS4C0) |
[206] Yes, oh right, bugger off now, |
| Conan (PS4BW) |
[207] Right I will, |
| Peter (PS4C0) |
[208] Do you want these back Alan? |
| Conan (PS4BW) |
[209] Erm, not really, but I'll take them back actually yes. |
| Peter (PS4C0) |
[210] I promised you an executive briefcase didn't I? |
| Unknown speaker (KM5PSUNK) |
[211] oh, oh dear, oh no |
| Peter (PS4C0) |
[212] High quality recycled plastic. |
| Conan (PS4BW) |
[213] But the important thing is that it's recycled. |
| Peter (PS4C0) |
[214] Cheap advertising, which means the next time you come back to the Centre, will you bring it back? |
| Unknown speaker (KM5PSUNK) | [...] |
| Unknown speaker (KM5PSUNK) |
[215] I'll be suspected, I'll be arrested. |
| Unknown speaker (KM5PSUNK) | [laugh] |
| Unknown speaker (KM5PSUNK) |
[216] What are all these questions about? |
| Peter (PS4C0) |
[217] Why would that be, why would you be arrested for walking around with this? |
| Unknown speaker (KM5PSUNK) | [...] |
| Peter (PS4C0) |
[218] People might rush up and say do you do pensions? [219] And you could say, [...] . |
| Unknown speaker (KM5PSUNK) |
[220] Three hundred pounds if they say that. |
| Unknown speaker (KM5PSUNK) |
[221] I think she's designing carrier bags for a living. |
| Unknown speaker (KM5PSUNK) |
[222] Ah, you know, everywhere, |
| Unknown speaker (KM5PSUNK) |
[223] It should be, that's a quite a soothing thing isn't it? |
| Conan (PS4BW) |
[224] [...] you know yes? [225] If not, jot it down, oh, my God, hang on, [...] |
| Unknown speaker (KM5PSUNK) |
[226] I'll want to stay at [...] |
| Unknown speaker (KM5PSUNK) |
[227] Because that'll be for |
| Unknown speaker (KM5PSUNK) |
[228] Yes, yes, I must remind you to do that, Karen. |
| Karen (PS4BX) |
[229] Okay |
| Unknown speaker (KM5PSUNK) |
[230] [...] They don't believe in that anymore do they? |
| Conan (PS4BW) |
[231] Er, those who erm, those who didn't get through by the way, obviously er, er, a quick jot at lunch time before you troll down the road. |
| Unknown speaker (KM5PSUNK) |
[232] Probably won't get a lot from them. |
| Karen (PS4BX) |
[233] Can you not do it the coffee break? |
| Conan (PS4BW) |
[234] Well, er, what do you suppose, I think we're probably try and [...] so that's possible, I mean |
| Unknown speaker (KM5PSUNK) | [...] |
| Karen (PS4BX) |
[235] It's only that I'm sharing text books with the others |
| Conan (PS4BW) |
[236] Oh right. |
| Unknown speaker (KM5PSUNK) |
[237] Okay |
| Karen (PS4BX) |
[238] In stations, yes. |
| Unknown speaker (KM5PSUNK) |
[239] [...] smoking one night |
| Unknown speaker (KM5PSUNK) | [...] |
| Karen (PS4BX) |
[240] I want to catch the same train out you see |
| Conan (PS4BW) |
[241] yes, Okay, yes, I'll see if we can have a long er coffee break, Peter! |
| Peter (PS4C0) |
[242] yes |
| Conan (PS4BW) |
[243] Right, bearing in mind coffee breaks erm, lunchtimes today's, obviously when we want to get them away, if we can, |
| Peter (PS4C0) |
[244] When's the resits? [245] How many resits have we got? |
| Conan (PS4BW) |
[246] We've got erm, four people doing resits, I think, haven't we? [247] Stuart we've got one, |
| Peter (PS4C0) |
[248] When I, when I come to practice management then, when I've given the books out, I'll probably [...] them out to do the exam. |
| Conan (PS4BW) |
[249] Right, |
| Unknown speaker (KM5PSUNK) |
[250] Have you got the two [...] forgotten |
| Peter (PS4C0) |
[251] No would you do that for me? |
| Conan (PS4BW) |
[252] I'll certainly do that. [253] The oth , the other thing is actually, Alun, Chris out there has asked you, this form here, at the coffee break, just leave it so you can leave it outside, would you just put your Christian name on this form. [254] He doesn't want to know anything about you, and what he's, and it's got age, sex, erm, it's acc, A C C, he's after your accent, could you just put the county that you, you were from please, in that column for him. [255] So he's, he knows what cross-section of people we've got as standard. |
| Unknown speaker (KM5PSUNK) |
[256] What just London |
| Conan (PS4BW) |
[257] Erm |
| Unknown speaker (KM5PSUNK) | [...] |
| Conan (PS4BW) |
[258] Well that bit if you like, but, if you like, your accent he's after, so if you feel that you've got a way of describing your accent, then put it down there. |
| Unknown speaker (KM5PSUNK) | [laugh] |
| Conan (PS4BW) |
[259] Punjabi, or whatever. [260] So just put your Christian names, please, and under acc. or A C C just put your accent, your, your birthright if you like. |
| Unknown speaker (KM5PSUNK) |
[261] Or Lancashire. |
| Unknown speaker (KM5PSUNK) |
[262] I'll put Lancashire, but I'm not. |
| Unknown speaker (KM5PSUNK) |
[263] We're talking about Alistair, [...] |
| Unknown speaker (KM5PSUNK) |
[264] What |
| Unknown speaker (KM5PSUNK) |
[265] Pardon |
| Unknown speaker (KM5PSUNK) | [...] |
| Peter (PS4C0) |
[266] Okay, what we're going to do now is finish off if you like, the week talking about planning. [267] Which in, when I get hold of that, ... the way we're going to do it, ... it's in stages th , this is the bit where we said we get paid two hundred and eighty pound didn't we, for marketing, prospecting, approaching and finally planning. [268] These are the keys that set up to success, so, these are the bits that earn you money. [269] You might not realise that [...] but your got to actually believe what we tell you. [270] Now most of you in the room have come from a P A Y E background, haven't you? [271] So in fact, you're daily planning has been done for you by somebody else. |
| Unknown speaker (KM5PSUNK) |
[272] Has it? |
| Peter (PS4C0) |
[273] Yes, with certain exemptions? [274] Because well, into that everybody has a plan. [275] We all work to a plan. [276] Who's actually naturally good at planning in this room? [277] ... You're good at it? [278] Yes |
| Unknown speaker (KM5PSUNK) |
[279] My wife is. [280] Brilliant. [281] Absolutely brilliant |
| Peter (PS4C0) |
[282] Some people really are aren't they? [283] Everything's organised and planned well, they research journeys very well, and I mean, off you go to France and they know everywhere you're going to travel to, how many gallons you're going to use, and all the rest of it. [284] So most people though, are like me. [285] Just jump in the car, forget to fill up with petrol and let's go to France, erm. [286] Oh, this is Denmark isn't it, it's not too far out |
| Unknown speaker (KM5PSUNK) | [laugh] |
| Peter (PS4C0) |
[287] And off we go, right. [288] And then, then we go on these expensive courses for time management, don't we. [289] We buy a nice little time manager thing, with little pink elephants in it, and goodness knows what, and we spend eight hundred pounds to get something to tell us how to time manage, and you really get enthusiastic about this for three months, and then you put it in the drawer and go back to your diary. [290] Then you forget to open your diary, and get, and go right back to having yellow stickers again. [291] And stick them everywhere. [292] Right. [293] You cannot afford to do that any more. [294] Right. [295] So what we're gonna actually have a look at in this session, is with three different ways really. [296] We're going to have a look at the, the benefits and the, the objectives of planning, and what you should be considering and talking about with peo , with other people you share your life with, your partners and things, and then we'll look at the id , the ingredients of a plan, then we'll look at what the company's going to provide for you, to help you plan. [297] That's quite exciting. [298] And then finally, we'll talk about activity and we'll be looking at what your diary should look like as a sales associate. [299] I will actually fill the board with what are, what a week at a glance in a diary should look like. [300] And I'll give you the ingredients for a week of activity. [301] Now I promise you if you do as we tell you and your diary looks like, my white board if you like, every week for the next sort of twenty eight days, you will be successful, because if you do something consistently for twenty eight days, apparently it becomes a habit. [302] Okay, again, so if you see me doing a branch visit, and I see you're, you shutting your diary, I'll know [...] . [303] I see that's a big giveaway isn't it? [304] I don't know, I walk into the branch, and people see me and go ... so what do I do? |
| Unknown speaker (KM5PSUNK) |
[305] Peek |
| Peter (PS4C0) |
[306] Have a little go, hello there Steve, how are you doing? [307] Just have a look at your diary, shall we, Okay? [308] So what you should have is a full diary, not full of appointments, full of activity. [309] Because activity breeds success. [310] Yes, it's marketing, prospecting, approaching and planning that you earn two hundred and eighty pounds a sale for. [311] Not just sales, so it shouldn't just be the appointments in your diary, and a lot of you will not used to be keeping a diary as well. [312] So again it's a new discipline that you've got to learn. [313] But as I said, you've probably come from the P A Y E back , background where people have made the decisions for you. [314] In fact let's say you hired a small engineering company, and I manufactured widgets, and I needed to manufacture one thousand widgets a week by four o'clock on Friday. [315] I probably would have worked out well, I'll be the spare man, I'll need four men working on five lathes, because I'll need a spare lathe in case one falls over, so I can keep four running, I'll need four men in case one of them's sick or one, when they go on holidays I can fill in, so we can always get four lathes working. [316] I perhaps have worked out, I need a clerical assistant and so forth, I might need a small van to actually take my widget on a Friday, to Widget, or Big Widget factory, or whatever it is I do with these widgets. [317] And then, all I've done is worked out some time management and say well if these guys turn up at half past eight every morning and I give them a break at ten o'clock, and they get a lunch break and then in afternoon, another break, and they finish at half past four, if everything goes to plan, by four o'clock Friday, my van should be backing up at the end of the production line to load itself up with a thousand widgets. [318] And a thousand widgets will generate enough profits so I can pay my workforce, and some profit for myself. [319] Yes. [320] Very basic,c ,c , [laugh] How to run a business. [321] All you had to do as an employee in all honesty, was get up in the morning, and you had, the decision you had to make is, how do I get to work for half past eight? [322] So after a while you either caught the bus, the train, the car, or what , or walked it, got on your bike, whatever it was. [323] You built a little plan, that if I leave at ten past eight, I miss that traffic, or I, whatever it is that you don't often plan till the holidays, but after a while it stopped being a decision making process. [324] You just automatically got up in the morning, jumped in your car, went to work, you were there for half six, sun shone, cup of tea, read the Sun, sit down, get on your lathe, have your break at ten o'clock, lunch time, have your meal and then you have a game of football outside in the car park or whatever, and you had a daily little routine. [325] Half past four you went home, you were five, six, six o'clock news, you liked to watch the six o'clock news so you sat down, had a bit of light tea, watched the six o'clock news, read the paper, the next big decision you made was whether to watch Coronation Street or not. [326] Because actually this is why we're breeding a race of non-decision makers. [327] Because your decisions have been made by somebody else. [328] And we are a nation of non-decision makers. [329] People that make decisions, they're normally successful. [330] The decision makers we're screaming out for. [331] It's funny isn't it, we form queues. [332] Why? [333] As a nation, why do we form queues? [334] Because we're orderly, and we're polite, that's the nice side, but we don't think, we don't make decisions about the queue. [335] I'll give you an example, I went to G-Mex to watch an exhibition, and we had some complimentary tickets to go, which means you've got a special entrance for complimentary tickets holders. [336] Yes? [337] You don't have to queue up and buy tickets at the, the little box thing. [338] As I'm passing this great big q , queue it always give you a sense of well-being doesn't it, when you can walk by to the front sort of thing, not to the front of the queue, you can just walk in. [339] Right, as I'm walking past this great big long queue which was outside the G-Mex Centre, I see a chum of mine, and I say, hello Bill, what are you doing here? [340] He said, oh, I'm going to see the exhibition. [341] Oh, that's great I said, I've got complimentary tickets and everything, he said, so have I. [342] So I said, what are you doing here? [343] He said, well I saw the queue, and I joined it |
| Unknown speaker (KM5PSUNK) | [laugh] |
| Peter (PS4C0) |
[344] Do you see what I mean? [345] We are like that aren't we? [346] Oh there's a queue, let's go and join it. [347] We didn't make the decision to find out, look I've got a complimentary ticket, and perhaps I don't have to queue here, perhaps I might have to, but I'll go and find out. [348] I've made a decision to go and say, hey, this might be worth having. [349] So what we've got to do is realise that very, very quickly as well, that we're in control of our own time. [350] Nobody's going to tell us that we've got to be at work by f , half past eight. [351] Yes? [352] Now you're going to be self-employed. [353] For those of you who think self-employed actually means well I can crawl out of bed at elevenish, work till fourish, that's three days a week because the other two days I can have a couple of rounds of golf, Thursday and Friday, those of you who think that's what self-employed means, are gonna fail. [354] You have to earn the right from now on to have holidays, because when you're on holiday, nobody's going to be paying you. [355] When you have a day off, nobody's going to be paying you. [356] So you have to earn the right from now on, to have time off. [357] All self-employed means is that if you want to you can get up at seven o'clock in the morning and start work at half past seven, and work right through till eleven o'clock at night. [358] If you want to because nobody's going to stop you. [359] That's what self-employed means. [360] You can actually go and work for a living. [361] But the rewards will be in direct proportion to the activity and efforts and work you put in. [362] Well I think that's quite attractive. [363] Yes? [364] Now most of you said you're not good at planning. [365] You are. [366] It's all built into us. [367] Naturally, reasonably good planning, it's just that you ha , you don't realise it. [368] What we're going to do is have a look at the ingredients of a plan. [369] Because everybody must have a plan. [370] Do you think Alan the Managing Director's got a plan? |
| Unknown speaker (KM5PSUNK) |
[371] yes |
| Peter (PS4C0) |
[372] Peter the Sales Director? [373] Yes |
| Unknown speaker (KM5PSUNK) |
[374] Hope so |
| Peter (PS4C0) |
[375] Your Area Managers, your Regional Directors, all got plans? or do you think those people that are running the company just get up on a Monday, oh, let's see what we can do this week. [376] ... Start the year, oh, yes, well where will this go? [377] We'll just get up and see what happens shall we? [378] Will the shareholders be pleased at the end of the year? [379] What do they do at the shareholders meeting? [380] This is what we're going to do, other shareholders say. [381] Right, we're going to hold you to this. [382] Yes? [383] So let's think about a plan. [384] Every plan must have a starting point, it must have an objective. [385] A root, and you must be able to monitor that root. [386] That's the basis of any plan. [387] Alan works his plans out, [bangs the board] , like that, to run the company. [388] Yes? [389] Now I said you were naturally good at it, why? [390] Let's cast our minds back to last weekend. [391] And you had a nice weekend, and some of you travelled on the Sunday, I know. [392] Now let's all cast our minds back to where we were Monday morning. [393] Now I don't know where you were Sunday night, so I don't know where you were Monday morning, it's personal to you, where you woke up on Monday morning. [394] Okay, but you woke up, right, that was your starting point, wherever you woke up. [395] Your objective was to arrive here on Salford Keys by |
| Unknown speaker (KM5PSUNK) |
[396] Nine thirty |
| Peter (PS4C0) |
[397] Nine thirty Okay, to start an induction course with Abbey Life. [398] How many people even on the Sunday, or, or last week, on Monday morning did you just get out of bed? [399] Stick yourself in the general direction of Manchester, and hope for the best? [400] No, last week you probably would have got the little joining letter with map, but you probably talked to people in the branch who may have been there, or you talked to your manager, or you picked up the phone and said, how do I get here, you may have even got the map out if you were driving, to actually see what junction you came off the motorways and things like that. [401] Just to check the journey, if you've checked the train times, you may have even give th , what were you doing? [402] You were planning the route. [403] Some people that are local may have even driven here on the Sunday, just to see how to get here, so that on the Monday morning when it's the rush hour, they knew generally where they were going to go. [404] I've heard, the people that are local, just have a run out on a Sunday afternoon to find out where it is. [405] They're really good planners aren't they? [406] How many times on Monday morning did you go like that? [407] ... Look up at the car clock, or whatever? [408] What were you doing? [409] You were monitoring the progress of your journey. [410] You may have been sat in the Wendover if you've come on the Sunday, but even having breakfast I bet you were going, what time do you think we ought to leave. [411] Well we'll add plenty of time just in case, we've never been there before. [412] You're actually making all these little decisions instantly. [413] Yes? [414] Now, for those of you on Monday morning, who was late on Monday morning. |
| Unknown speaker (KM5PSUNK) |
[415] I was sort of iffyish. |
| Peter (PS4C0) |
[416] Iffyish, [...] comes from Manchester |
| Unknown speaker (KM5PSUNK) | [laugh] |
| Peter (PS4C0) |
[417] Right, what was it like for you on Monday morning? |
| Unknown speaker (KM5PSUNK) |
[418] Well I was panicking about twenty five past. |
| Peter (PS4C0) |
[419] You were panicking? |
| Unknown speaker (KM5PSUNK) |
[420] yes |
| Peter (PS4C0) |
[421] Yes, now, there's another word that's better than panicking. [422] It started getting a little bit stressful in fact, yes? [423] Well, stress kills people. [424] It's a big killer. [425] Stress kills. [426] So let's talk about this stress. [427] If we're going on a journey, and we plan where we're going to go from, I want to get to Birmingham or wherever it is. [428] I've planned me route, I'm going down the M six, I need to come off at the spaghetti junction whatever it is, and I'm going to check me clock and I'm going allow plenty of time to get there. [429] Because bear in mind Thelwall Viaduct, I hear it on the radio every morning, there's roadworks. [430] And I believe there's some roadworks at Stafford, I might even get on my teletext and look and see what roadworks are on the M six, I may even give the A A a ring, to say, but it's all on teletext and this sort of thing. [431] Some people plan it so that when they go along, along the motorway, they hit roadworks, blinking heck, but they're aware that they're there. [432] So they just sit in the inside lane don't they, turn up the radio, or put a cassette in, or maybe even get their papers on their lap and, [...] thing, yes, but then the ones that didn't do this planning are the ones that you see going ... see them, probably you. [433] Yes? [434] And then what really bugs those people is seeing me keep catching up with them. [435] Alright, and they go, erm, ... alright, alright. [436] And then we get to the roadworks, and probably he's either in front of me or behind me, and he's going [...] and then he gets through the roadworks, and it's, away, whoa, woof, and they're up behind you aren't they. [437] Right tailgating, saying come on you [...] old bastard get out the way, you're only doing a hundred and ten, what's the matter with you. |
| Unknown speaker (KM5PSUNK) | [laugh] |
| Peter (PS4C0) |
[438] And as he's going like that, the lorry in front's stopped, smack, hits it, dies, or if he's, turns round, and goes My God, misses it, unfortunately hits me, I hit somebody else, and he carries on going, and leaves carnage behind him. [439] Stress kills. [440] Those people are bad planners, Okay. [441] It's not how fast you can drive, it's how fast you can stop that matters. [442] So you plan for these things. [443] Yes? [444] Now it's the same thing. [445] If you don't plan, you'll get stressed out, you won't be running your business properly, it causes stress, it'll kill you it may not physically kill you, but it'll kill you in this business. [446] You won't be in the business. [447] So let's have a look at an idea of what we should be looking at, should we. [448] In our plans for the life assurance industry if you like. [449] Well to do that, erm, what we need to say really is our starting point is actually now, because this is the first day of the rest of your ca , career with Abbey Life isn't it? |
| (KM5PS000) |
[450] If we get appointed. |
| Peter (PS4C0) |
[451] Yes, that's a point in your case Giles, yes. |
| Unknown speaker (KM5PSUNK) | [laugh] |
| Peter (PS4C0) |
[452] It's a damn good point actually. |
| Unknown speaker (KM5PSUNK) | [laugh] |
| Peter (PS4C0) |
[453] Okay now, your starting point is now, and this is it, in fact, this is the first day of the rest of your life. [454] If you want to think about it a little bit deeper, it's the first day of the rest of your life. [455] Now what we've got to look at is why I've come to Abbey Life. [456] I don't know why you've come to Abbey Life. [457] So that's a good point, why've you come to Abbey Life. |
| Unknown speaker (KM5PSUNK) |
[458] To make money. |
| Peter (PS4C0) |
[459] To make money, yes, you've got objectives. [460] But you've all got your reasons to come to Abbey Life, and you've all objectives, but objectives are personal, and should be personal. [461] Everybody in this room is an individual, right. [462] You're all individuals. |
| Unknown speaker (KM5PSUNK) |
[463] I'm not, [...] |
| Unknown speaker (KM5PSUNK) | [laugh] |
| Peter (PS4C0) |
[464] It's an in-joke, Okay. [465] So, let's think about our objectives, first of all an objective, I might have come to Abbey Life to make money, last year, I might have been working in a factory, earning fifteen, twelve, fifteen thousand a year, and I might make my objective in my first year with Abbey Life to earn sixty thousand pounds. [466] ... Is that a sensible objective? |
| Karen (PS4BX) |
[467] No |
| Peter (PS4C0) |
[468] I mean it's possible, but by. [469] You think it should be a hundred grand? [470] Yes, I like that. [471] So what I'm actually saying is that I'm making my objective an elephant, it's too large i e if I wanted to eat an elephant, it's too large an objective, but I could achieve it by what? |
| Unknown speaker (KM5PSUNK) |
[472] Eating it in bits. |
| Peter (PS4C0) |
[473] Yes, so I could what, slaughter it? [474] Chop it up into elephant steaks, bung it into the deep freeze, and over a period of say two, three years, every Friday night have an elephant steak, but in three years' time, I will have actually achieved my objective. |
| Unknown speaker (KM5PSUNK) |
[475] Shame for the elephant. |
| Peter (PS4C0) |
[476] Shame for the elephant. |
| Unknown speaker (KM5PSUNK) | [...] |
| Peter (PS4C0) |
[477] [laugh] So, first of all when we're thinking about our objectives, we've actually got to think of it in being achievable. [478] And if it's not achievable now, when will it be achievable. [479] This is why they ask you things like, on interviews, and they ask you, where do you see yourself in five years' time, and I used to say, I don't even see meself where I'm going to be in five days' time, never mind five, just give us the bloody job. |
| Unknown speaker (KM5PSUNK) | [laugh] |
| Peter (PS4C0) |
[480] Right, but what you've got the opportunity of doing now during being a life assurance sales person, with self-employed status if you like, with the benefits of being in a company like ours, is really thinking where do I want to be in five years' time. [481] And this is why I say it's personal and you need to be discussing this with the people you share your lives with, you really do, because it's important. [482] So we need to be looking forward, but we ought to be looking short-term, so the best way to look at objectives, is to look it in the short-term, which is in fact, year one if you like, medium term, years two and three, and long-term, years four and five. [483] Where do I want to be? [484] Now the important thing is, it's got to be meaningful. [485] It's got to be meaningful to you as an individual, otherwise it won't work. [486] It's no use running with the herd. [487] Oh, everybody wants a Porsche, so I'm going to have a Porsche. [488] I think, was it Colin I was talk , we were looking at a Porsche the other day, and he was drooling over this Porsche, and yet it doesn't do anything for me. [489] Are you with me? [490] The car's just a practical thing to me, I mean I like to drive around in comfort, everybody likes a nice car, I'm not saying that, but to go to the extreme of spending what would say, seventy or eighty thousand pounds on a Porsche, I'd have to be really, really rich before I would consider the luxury of having a Porsche. [491] That, it wouldn't be on my list of priorities, but for Colin, woof, he was drooling over it, orgasmic, I think he said, or whatever it was, it wouldn't be what you said, alright to drive it. [492] So different people want different things and get turned on by different things. [493] Now let's suggest what might be in here, just to get you, your mind thinking. [494] Could be that let's have a look at the first year, the first year, I just want to survive. [495] I might have earned twelve thousand pounds last year, I'd like to earn fourteen, say fifteen thousand in my first year with Abbey Life. [496] Because effectively when was the last time you had a two thousand pound pay rise? [497] Or a three thousand pound pay rise? [498] You're actually giving yourself and planning for a two thousand pound pay rise. [499] And believe me it's within your control whether you get it or not. [500] That's a new thing isn't it. [501] You've always been dependent on other people, being impressed with what you've done, or the, before you've got any pay rises. [502] From now on you determine your own pay rises. [503] But to go two thousand up I would say would be realistic, and achievable. [504] Going to fifty thousand more, maybe not. [505] So the first year might be I wanna survive. [506] I wanna get out there, and I might even make some sacrifices. [507] I want to learn the business. [508] I want to learn the trade. [509] I want to learn the trade not the tricks of the trade. [510] I want to know what I'm talking about. [511] I want to get at my product knowledge up to scratch, I'm going to get my sales skills up to scratch. [512] I'm really going to throw everything into this. [513] I'm going to accept the nose. [514] I'm going to sacrifice maybe holidays this year, and maybe have a couple of long weekend breaks, as long as I earn enough to keep my head above water and to pay my way in life for the next twelve months, keep my family fed and watered I'm Okay, then I'm going to take stock in twelve months' time. [515] And I think that could be a reasonable way to get yourself going in the business. [516] Yes, learn the trade. [517] Survive. [518] It might be different for you. [519] If you've got something different, please, the important thing is to write it down, think about it, write it down, get a photograph of it. [520] Colin, get that photograph of that Porsche, blow it up and stick it at your work-station in your branch. |
| Unknown speaker (KM5PSUNK) |
[521] Funny you should say that. |
| Peter (PS4C0) |
[522] That's what he's done is it? |
| Unknown speaker (KM5PSUNK) |
[523] No, but it |
| Peter (PS4C0) |
[524] You've got it have you? |
| Unknown speaker (KM5PSUNK) |
[525] No I had a Group Manager who actually introduced me to this, I erm, I work out with him, but, he brought a, actually what turned me on to this was the fact that erm, where he is, he's thirty six now, and erm, he's got no mortgages, he's got a, he paid eleven thousand pounds for a, a Kawasaki Z Z eleven hundred R super bike, worth that is |
| Unknown speaker (KM5PSUNK) |
[526] Motorbike |
| Unknown speaker (KM5PSUNK) |
[527] And he's, he took a photo |
| Unknown speaker (KM5PSUNK) |
[528] Motorbike |
| Unknown speaker (KM5PSUNK) |
[529] yes, he's took a photo of him sitting on the bike so you [...] then he just had to pin it up on, on my thingy, and it'd say, you know, you'll never have this, it'll give you something to, to go for. |
| Peter (PS4C0) |
[530] Yes, yes, and [...] the same yes? [531] So that's good. [532] So write it down, get a picture of it, it's like a car salesman, what does he do when you go into a car showroom? [533] He sits you in it, would you like to sit inside? [534] Because once you sit inside, you're quite right, you're driving it aren't you. [535] Live the dream. [536] Where do you want to be in two years' time. [537] Again it's personal to you. [538] It could be, that you want a house, you might currently be in rented accommodation and you want to get on the property ladder. [539] Get your young family and yourself into your first property. [540] Now the fact that it might be just a little two up, two down who gives a monkey's because in, next year, two or three years' time, you're walking with the removal van into this house, how will you feel? [541] Good. [542] The fact that one of the guys in the branch has got a great big five bedroom mansion is an elephant to you. [543] That's five, six years down the road, maybe. [544] Yes? [545] But you're in there. [546] It could be a damn good holiday. [547] It could be that you've never taken your family abroad on holiday, so you set yourself a little objective, that in two years' time, I want to take them all, even if it's a damn package deal on a flight to Tenerife, do it, will you feel good, will the family enjoy it? [548] You see these things are important aren't they? [549] These are the things we're doing it for. [550] It could be a car, like we've just said, but then again, I've never had a new car, it could be, are you with me. [551] So it might be, just the fact that I have a new car. [552] The Porsche might be here, but initially what I'd really like is a new car, and what I'd like to do is get up at midnight on the first of August, and drive around in my brand new car in the dark. |
| Unknown speaker (KM5PSUNK) | [laugh] |
| Peter (PS4C0) |
[553] Why do they do that? |
| Unknown speaker (KM5PSUNK) | [laugh] |
| Peter (PS4C0) |
[554] Eh, first of all they give them champagne so they all get caught drinking and driving, |
| Unknown speaker (KM5PSUNK) | [laugh] |
| Unknown speaker (KM5PSUNK) |
[555] How do the police know? |
| Peter (PS4C0) |
[556] Why do they do it? [557] I don't know, everybody driving around at nig , you, you go out first of August, at midnight. [558] There's all these cars driving around, going beep, beep, ha, ha, look at my new car. [559] What? [560] Now, but it could be a new car. [561] Let's say, let's say, let's say that Graham, who's a bigger hitter than me, and got more influence, and more influential client bank than me, his idea of a new car is a new X J S, a nice Jag, me, my dream car, I've never had a new car, is a nice Lada soft-top coupe, with G T X heated rear window, Okay. |
| Unknown speaker (KM5PSUNK) | [laugh] |
| Peter (PS4C0) |
[562] And it comes to the first of August, and Graham gets his car, his new X J S, and I get my new Lada, and we've been out at midnight doing all this, but we come to the branch in the morning, and he parks his X J S there, and I park my Lada next to it. [563] I reckon we both feel the same don't you? [564] Because I've achieved what I wanted, and he's achieved what he wanted. [565] It's, it's what's inside you that matters isn't it? [566] I'm going, well I've got it, it's important, do it, yes? [567] First a little story. [568] One of my objectives was to buy my wife a little car. [569] At the time she had Ford Fiesta van, a blue van, which was alright, first time started, about four, four years old, five years old, good little road condition, but the children used to get in the back and as she went round bends it was like ten-pin bowling, dum, dum, dum, dum, went round another bit, dum, dum, dum, dum. [570] Well A this was obviously dangerous, and B it was illegal. [571] So you know, we couldn't do that, I mean it was great, the kids loved it. [572] They had er, a little carpet at the back and their stickers all round it and inside it, it was a fun van if you like. [573] So she was, she was into Volkswagen Polos, she's always liked a little run-around, she'd like a Volkswagen Polo, and [...] . [574] So what I did, I went round to tell the guy, John he was the sales guy at the local Vo , Audi-Volkswagen place, and I said, John, I want to buy Barbara a car. [575] She's looking for a decent second-hand one, and I actually want to buy her a new one, and she doesn't know about it. [576] So let's do the deal. [577] Part-ex and all the rest of it, did the deal, negotiated, and said right what we want to do, is Saturday morning, she thinks she's going to come down and look at a decent second-hand one, and I want you to take the part, take the brand new car off and all the rest of it, and then say take that one for a test drive, which is mine, all taxed up and gassed up and all the rest of it, and we'll disappear in the moonlight. [578] You're on he says. [579] So Barbara, meself and a couple of the kids came along, [clears throat] , a couple of the kids were in on this, backing away sort of thing, and of course she went on this used car lot, and she's looking at these Volkswagens, and John was doing his bit, I believe you like Polos. [580] He had about five or six Polos there, and of course they're all nice and shiny aren't they? [581] Tyres are painted black. |
| Unknown speaker (KM5PSUNK) | [laugh] |
| Peter (PS4C0) |
[582] All clean inside, valeted and Barbara's going ooh, ooh, this is nice, the lights work and things like that you know. [583] Okay. [584] And John was great, and he showed her round and he said, well look, why don't you take one for a test drive. [585] She said, ooh, yes, can I? [586] He said, well take that one there. [587] She said, ooh, it's a new one. [588] He said, that's alright, take it. [589] She said, alright, gets into this, and off we go down the road, the steering's all stiff, I tried it myself, [...] , alright, all of sudden she got all excited at the indicators. [590] They work, this little light goes on and off. [591] She's doing all these things really thrilled to bits, and I say, well look, you like this don't you? [592] She said, yes, I said look. [593] John won't mind, let's keep it for the night, and take it back tomorrow morning. [594] Well, B L didn't like this suggestion at all. |
| Unknown speaker (KM5PSUNK) | [laugh] |
| Peter (PS4C0) |
[595] You what, don't be so stupid [...] we've got to go back and tell him, we can't do things like that. [596] Of course we can, he won't mind, we know him, just let's go, we'll stop out for the day, and let's bring it back tomorrow. [597] Don't be stupid. [598] I said, look pull over, let's talk about it. [599] So we pulled over, you see, and what we'd got, the kids at the back had a big card. [600] They said, dad thought he'd give you this big card. [601] And they handed to her, and it just said, Congratulations, you now own the Volkswagen Polo. [602] I was alright that night! |
| Unknown speaker (KM5PSUNK) | [laugh] |
| Peter (PS4C0) |
[603] In fact it was demanded of me. |
| Unknown speaker (KM5PSUNK) | [laugh] |
| Peter (PS4C0) |
[604] Now there's a [laughing] there's ha, ha, [] . [605] There's a little story, but do you see what I mean, what working for yourself could give you? [606] I mean, I actually [...] , and she's still got it. [607] A little D reg. [608] Polo, she's still got it, she's not done twenty five thousand miles yet. [609] It's in mint condition. [610] Why? [611] She loves it to death. [612] It's been the best investment I've ever made. [613] She won't get rid of it, because of the thought that went into it, it's great, Okay. [614] But that's the sort of thing working for yourself can do, because. [615] So please, think about it and do it, and get that enjoyment out of what we're offering. [616] Longer term, well I don't know it, it could be you want your bigger house, your detached house, it could be that you want erm, status within the company. [617] We've got er, associates and then we've got financial advisors, we've got sweet financial advisors look, and we've got |
| Unknown speaker (KM5PSUNK) | [...] |
| Unknown speaker (KM5PSUNK) | [laugh] |
| Unknown speaker (KM5PSUNK) |
[618] What do you do for a living? [619] Will you have [...] |
| Unknown speaker (KM5PSUNK) | [laugh] |
| Unknown speaker (KM5PSUNK) |
[620] Yes, I love it |
| Peter (PS4C0) |
[621] We've got executive financial advisors, and you name it. [622] Which others, it's the status within the company I suppose if you want to put income against that, I mean I'm only guessing. [623] Probably you're talking the thirty thousand plus, these are the forty thousand plus, and these may be the seventy five thousand plus a year guys. [624] In five years' time, you sit yourself where you want to be. [625] Now some of you in the room, believe it or not, will be happy to hit that and sit at that. [626] Get yourself a nice little city financial advisor, a good client bank, get your five hundred clients. [627] Good clients that you can go and see, and you can service regularly, you can go on the conventions each year, and you're quite happy. [628] The top five percent will go for that, I hope you won't, you're not five percent, but some of you , you're all find where you want to be, isn't it, where you want to see yourself. [629] Ideal , if you want to be down here, from there downwards, you're probably better going back doing what you did before. [630] Your objective should be being at least there shouldn't it? [631] Otherwise what's the point of going through the agony and collecting all these notes? [632] Is that a fair comment is it? [633] So if you like your original objective was at least get to there, then you can take stock. [634] I think that's fair comment. [635] Okay. [636] We do that, then what we've got to do, we've got to plan the route haven't we? [637] Now the good news is, this is where the company come in. [638] Yes? [639] Because you're sitting down with your partners and we'll give actually literature which your managers will give you. [640] Which you, you'll go away with your partners and you'll discuss this, and you'll discuss what you want out of life. [641] Inevitably, inevitably the pound sign will pop up won't it? [642] The old pound sign. [643] X amount is going to be needed to help me achieve my objectives. [644] I'm sorry to say this, but the people that say money isn't everything, are the ones who've got it, aren't they? |
| Unknown speaker (KM5PSUNK) |
[645] Yes |
| Peter (PS4C0) |
[646] The ones who haven't got it and say money isn't everything, ... Well they're on a different planet really, if you think about it. [647] Of course it's everything, if you can't afford to feed your wife and children and look after the house. [648] It's important. [649] When you've got none, it, it's sad, but it's going to be everything. [650] You know, so let's look at money in a sensible way, money is a means to an end for us to achieve our objectives and the style of, the standard of living that we want to spend our life and our partners and our families and all the rest of its lives together. [651] It's the quality of life that we're going to have on this planet, it's going to be determined by that. [652] As long as we've got that and peace of mind we can perhaps do things outside of what money can bring you. [653] But you've got to have that peace of mind to be able to do that. [654] Yes? [655] Is that fair comment? [656] You can always say if you disagree, it's just a general comment. [657] So eventually you're going to have to sit down with us and tell us how much you want. [658] Well, this is where we as a company will help you, to help you plan that route and monitor that route. [659] So that on a monthly basis we will tell you if you're on target, checking your watch, you're below target, you're above target. [660] But we can constantly monitor you. [661] Would you like us to do that for you free of charge? or would you prefer to pay one thousand five hundred a year to a management consultant? |
| Unknown speaker (KM5PSUNK) |
[662] Free |
| Peter (PS4C0) |
[663] Settle for free would you. [664] Would you like that? [665] Well you're not going to get it, you'll have to do it yourselves. |
| Unknown speaker (KM5PSUNK) | [laugh] |
| Peter (PS4C0) |
[666] Alright? [667] You're going to have to put some input in if you want it for free, that's all I'm going to say. [668] Is that a deal? |
| Unknown speaker (KM5PSUNK) |
[669] A deal |
| Peter (PS4C0) |
[670] Because it would co , cost you a minimum of one thousand five hundred pounds a year to pay a management and business consultancy firm, to do this, what we're going to do for you absolutely free. [671] ... We'll provide all your statistics, all your activity data, all your ratios and everything on how your business is running every month, absolutely free of charge. [672] We'll send a copy to your manager, and a copy will come to you, so that you and your manager can sit down every month and discuss your next month's business plan. [673] So you can actually say I need help, and he can actually say I'll give you this help, I want you to be doing this while you're doing this, I'm doing that, and we'll do that on a regular monthly basis. [674] Initially you'll be doing it probably on a weekly basis, you'll be doing that. [675] Yes? [676] Would you like us to do that? [677] How many people in the room have been introduced to er, Managing your Practice, before you came on the induction course? |
| Karen (PS4BX) |
[678] This thing? |
| Peter (PS4C0) |
[679] Business Planning? |
| Karen (PS4BX) |
[680] Yes |
| Peter (PS4C0) |
[681] Yes, Okay, you have, one. [682] Right that's just determined to the level at which I can go at this stage then. [683] Don't worry if you've not been told, it's very new, and the managers actually over this week and last week have been before the Group Managers effectively having the last bits of training done and workshops before we really launch it to the field. [684] The people who've been going through the induction courses though for the last six months or so, they're probably up, more able to speak to it, and you're going to be better off actually than the, the old boys if you like and girls, because it's going to be old dogs, new tricks, but as you won't know any different and you do this, then you'll have an advantage over them. [685] So much so in fact that they'll be looking to you to help them actually. [686] This is it, Planning your Practice, this is what the subject's about. [687] And, have you had , have you had a go at this yet? |
| Karen (PS4BX) |
[688] I've done my own, my own on this. |
| Unknown speaker (KM5PSUNK) | [...] |
| Peter (PS4C0) |
[689] So you've started looking at it, and it's got mapped out pretty much what we're saying here isn't it. |
| Karen (PS4BX) |
[690] Yes, he's left the business side to people. |
| Peter (PS4C0) |
[691] Yes, well all I'm going to do is introduce it to you, and when you actually get back he'll know more about it probably. [692] We're actually get , sending him some software out on the computer so he can start playing and start understanding what the computer does. |
| Karen (PS4BX) |
[693] Yes, yes. |
| Peter (PS4C0) |
[694] So what that booklet does, is do the bit that we've just been talking about. [695] And this is the bit where I said you need to sit with your partner and all, and really think about what your objectives and write them down. [696] Then, you get that booklet and then you come and sit with your managers and you discuss it. [697] And he'll tell if it's an elephant or not, he will won't he. [698] He'll say, well I can understand that, but let's. [699] But what's good now, is actually you can go onto a computer, and the computer will all say, also say, whoa, that's a bit unrealistic, that doesn't marry with that, that doesn't match that, no, alter your plan accordingly. [700] We will do all this for you, and every month produces a report. [701] But we've got to ask you to do something. [702] If you go into that weekly han , that session hand-up booklet, that one yes, if you just hold it up Alistair, so everybody can see it, I know you may have put it away sorry, I think it's good practice isn't it? [703] ... Yes, the back page is this thing here ... of that blue hand-out booklet, right, if you can just, if you can see one or somebody else's, instead of rummaging through [...] that'll be fine. |
| Unknown speaker (KM5PSUNK) |
[704] Is it in here? |
| Peter (PS4C0) |
[705] Yes, sorry it's in the back page of that. [706] Just, that's it. |
| Unknown speaker (KM5PSUNK) |
[707] Are you sure? |
| Peter (PS4C0) |
[708] All got it? [709] This is your bit. [710] This is your bit. [711] From next Thursday night, when you do your telephone session, you must go live on this form that you'll be filling in the names that you are going to contact, right? [712] And what actually happens is, there's a description of it in there, and I'm going to give you some more literature for you to peruse and get used to it, and you'll actually going to be working very closely with your management on this, right, is that you will record all your activity every week. [713] How many approaches you've made, how many first interviews you've made, how many referrals you've got, yes? [714] How many closing interviews you have, how many actual sales, because you might have a closing interview and no sale. [715] Right, all the best. [716] It tells you how many sales were agreed. [717] What the actual, how many cases were written and what the estimated C C S A is, commission credit sum assured, I promise you, you will get to know that very quickly, because that's the basis on which you get paid. [718] So just mentioning that at the moment causes confusion, you don't know what it is. [719] It's called commission credit sum assurance, and the basis on which you get paid. [720] You need to have a thorough understanding of that from your management on how your going to get paid, and what your financing levels are, Okay? [721] Any policy delivery visits, number of referrals, total daily approaches at the top, and then what actually happens is, is you complete this, and every, this branch what they do, the people that do it, every Monday morning, they all come in here and have training sessions, and then there's computers around the branch. [722] They actually just feed this information, it takes about three minutes on average to input the data off this into the computer, and it goes straight into the mainframe computer. [723] You'll have your own password and everything. [724] So it's all confidential it's covered by the Data Protection Act if you're worried about anything like that. [725] And it goes into the computer. [726] And we say takeover from there. [727] But why do we need to do this? [728] Well let's have a look at it from a simplistic point of view, Okay. [729] I need to earn X amount, and I'm working in a town where I don't know anybody. [730] I've been working abroad for the last twenty years, I've just come back to the U K and my family's all died, and I don't know anybody, and I'm going to start off working here. [731] I don't know anybody. [732] So the only way I'm going to start my business is, cold. [733] Just as an example, because we don't like talking about cold, but just to give you a very simplistic example of how it can work. [734] Your manager might say, well to earn X amount from the branch statistics and company statistics you actually need to, but you'll actually get this information off the computer, so I'm a [...] for telling you that. [735] It says, it might say you need to make erm, fifty calls. [736] Pick up that phone and make fifty calls. [737] So you, off you go and you make your fifty calls, and you make four contacts. [738] But immediately monitoring is coming into play here, if I was your manager, but the computer will do this by the way, but your manager will spot that and say, have you made those fifty calls. [739] You'll say, yes. [740] Who are you ringing? [741] Well publicans actually, because I used to be a publican, and I thought it would be a good idea if I, it's a good idea to ring people you've got empathy with. [742] What time are you ringing? [743] Oh lunchtime? [744] No, No. [745] Because what are publicans doing? [746] Their staff are laid off and they're pulling the pints at lunchtime aren't they? [747] So no, ring them, in fact ask one of your publican mates, you were one yourself, when was the best time you would have been contacted. [748] Most probably about ten, ten thirty in the morning when I was you know, stocking up and things. [749] Okay, so he rings at ten o'clock, ten thirty in the morning. [750] He makes forty contacts. [751] Ah, that's more like it. [752] That's people picking up the phone. [753] You make forty contacts, right, and you get one appointment. [754] That tells me, what are you actually saying? [755] Give us an example, make me appointment. [756] Hello, is that Alan, is it Okay? [757] Well that's not bad. [758] Do it again, is that, yes, yes, [...] , no me accountant deals with that. [759] No, we need a little training session to brush up on handling the queries and objections that you may get, it's like we did yesterday afternoon. [760] So what each branch has got is a little training room isn't it? [761] Or it could be part of the training sessions, let's have what we were doing yesterday, skill drills, but you've got to practice it and practice it, until eventually from those forty contacts using a ratio of ten to one, we get four appointments. [762] We go off on the appoint and we make no sales. [763] Well what are you doing? [764] What's your ice break like? [765] Show me. [766] What ice break? |
| Unknown speaker (KM5PSUNK) | [laugh] |
| Peter (PS4C0) |
[767] I'm not creating a report, |
| Karen (PS4BX) |
[768] Okay |
| Peter (PS4C0) |
[769] Are you painting the pictures when you're asking the questions? [...] if you could, fine, good empathy, you doing a good fact find, right let's do a presentation shall we, let's see erm, ooh, you don't know how to ask for the order do you? [770] You're not asking for the order, let's do some training on that. [771] The monitoring process, until eventually I work out that I get my two sales. [772] From two sales, if you do that, will earn you that guaranteed. [773] ... So it works. [774] But this is all going to be do, done far more sophisticated than that, so it's going to produce for you each month, one of these things. [775] Okay? [776] And this is a ph , like a photocopy, so what you'll have is a nice printed version with Abbey Life blue, purely for you to get a feel of if you like, ... , and in this, we're very quickly going to go through on the first sheet it will have activity and production and it will have your data there. [777] Your key performance indicators, there's several indicators, if you like, indicating that your persistency is maybe going down, indicating that your product knowledge, you need a re-enlightened on certain products, if you like it's warning shots across the bow, hey or it's drawing your att , your attention to a certain area, yah? [778] You may have a, a compliance issue outstanding, or whatever, or there's been a complaint against you, it will show up in here, it's very rare, but it's indicating that there's something that needs to be looked at. [779] It's going to be [...] . [780] Personal development, your commission income, your review business development plans, it's a pity it's not available, it's coming in yet, the client bank and quality of business. [781] The idea of the front page is a summary of the whole lot, yes, where you sit down with your manager on your one to one meeting, he's got a copy, you've got to meet, and you discuss these points. [782] And if there's any areas or warnings of concern which you feel that you've both got, because he might think, he's got any, he's concerned about an area, but you don't see it as a concern, and you allay his fears. [783] What you're concerned about is something totally different. [784] You understand what I mean, that's management meetings. [785] But what that means, is you can actually write an action plan, where you agree to do something, he agrees to do something, or she agrees to do something, and you work out your action plans. [786] The data and information behind all those subjects is contained within. [787] Which probably, I think because none of you have been introduced to it, would be too heavy to go through to any great extent. [788] But actually, just look, turning the page, it tells you activity and production, right, how many days worked this year, forty days, how many weeks, eight days, and all the rest, and then if you see we can get [...] this is based on your data, that you're feeding into the computer every week, and there's absolutely no purpose in putting false data in. [789] In fact of course we put failsafe systems in because we've got so many statistics and everything, because if you start putting false data in, it will be identified. [790] The computer will say, this ain't right, and come out and tell us. [791] So don't lie, if you're having a bad month, or you're having a bad week or you haven't had any sales, put it in the computer, because that's going to be identified, it comes up on here, so that your manager can help you. [792] He can't if you put in, if he thinks everything's rosy here, he can't help you, but in fact you're going down the swanee, you're only fooling yourselves. [793] But it'll tell you how many first appointments you've had, how many fact finds you did, how many subsequent presentations, how many, how many sales you did in September ninety three, week, all the rest of it, and right at the bottom here it's got the ratios, right, how many approaches to sales agreed. [794] You had to make twenty seven approaches to make one sale. [795] Well if I was his manager, what would I be working on? [796] His approaching techniques. [797] His straighter, that's far too many, let's have a look at what you're saying on the phone, let's really, really home in on that, and practice, and practice, and practice. [798] [...] we're beginning to see sales technique you need to, you look at. |
| Peter (PS4C0) |
[799] It's not sales technique until he actually gets the appointment, he can't present anything. |
| Unknown speaker (KM5PSUNK) |
[800] Sorry,appr , approaches, |
| Peter (PS4C0) |
[801] He's had twenty seven. [802] That's for the month, mind. |
| Unknown speaker (KM5PSUNK) |
[803] Yes, yes. |
| Peter (PS4C0) |
[804] Okay. [805] Are you with me? [806] Now on the next page, it's all about C C S A, how much you've actually earned, you're not interested in that. [807] Sh, sh, [...] and it continues to go through this, and I say, you can see, it's very, very comprehensive, and very, very detailed. [808] I assure you all the information in there will become second nature to you. [809] It does, it might not seem it at this moment in time, but eventually you will understand everything that's in there, and what it means to you, yes? [810] Now we're going to provide this for you absolutely free. [811] As a monitoring system, yes? [812] On the computers very sure, this is already in the system this, and already being used, we are just, it won't be of any benefit unti , until you actually start working on true data. [813] But in the meantime we will work on company averages for you, until you've started building six months' data. [814] From six, so if you give us data every week for the next six months, and as I say, in six months' time, we'll then be working on actuals, but until that time, we'll work on company averages for you, so that you've got a plan to work to. |
| Unknown speaker (KM5PSUNK) |
[815] But with this individual plan, does it say somewhere, erm, go about commission status, somewhere near the back, ... |
| Peter (PS4C0) |
[816] Commission earnings, current balance, for commission potentially, it's got in July of ninety three he earned seventeen thousand three hundred and seventeen pounds in the bucket potential commission. [817] That doesn't mean he's going to draw it, he's actually drawing on average this guy around a thousand, hundred pounds, one thousand two hundred pounds he's been [...] thousand pounds, but he's actually drawing one thousand two. [818] Why's he doing that? |
| Unknown speaker (KM5PSUNK) |
[819] To build up his |
| Peter (PS4C0) |
[820] To build up his pot, because he might have a bad month, or he might want to go on holiday. [821] If you go on holiday for a month, you want another pay cheque going in at the end of the month. [822] If you haven't done any business, you've no income, so he's left it in the pot, so he can draw another one thousand two hundred. [823] You see how it's working? |
| Unknown speaker (KM5PSUNK) |
[824] Yes, of course. [825] If it's left in the pot, is there any interest on it? |
| Peter (PS4C0) |
[826] Erm. |
| Unknown speaker (KM5PSUNK) |
[827] No, because it's not actually yours, it's just an advance? |
| Peter (PS4C0) |
[828] It's, it's, it's an advance, but no, it's not it's, honestly I can't |
| Unknown speaker (KM5PSUNK) |
[829] oh, I mean, this is all to do with interest plans , you can't answer the question, I'm sorry, sorry. |
| Peter (PS4C0) |
[830] Happy with that, are you happy with that, Okay? [831] That's that, there's a guide to managerial practice, I'm going to give you, you'll be saying Oh, my God, all this information. [832] I assure you, just hang on to it, start glancing through it, start getting familiar with it. [833] The important thing I want you to have is, is start on that activity data sheet, get in your discipline of writing everything you do on that sheet and inputting it every week, so that you're getting actual data as soon as possible. [834] It will be to your advantage. [835] Okay? [836] I think that's a good time for us to have a coffee break, yes? [837] I'm trying to go as fast as I can. |
| Unknown speaker (KM5PSUNK) | [...] |
| Unknown speaker (KM5PSUNK) |
[838] You have actually got one? |
| Peter (PS4C0) |
[839] Yes, it's an executive briefcase isn't it. |
| Unknown speaker (KM5PSUNK) |
[840] It's an [...] |
| Peter (PS4C0) |
[841] It's just [...] |
| Unknown speaker (KM5PSUNK) |
[842] It's only a hole in it, he said oh, no it's [...] |
| Unknown speaker (KM5PSUNK) |
[843] I didn't make a bad job. |
| Karen (PS4BX) |
[844] Yes, it looks like it. |
| Peter (PS4C0) |
[845] It's alright, Bob, we'll tidy up later. |
| Unknown speaker (KM5PSUNK) |
[846] Urgh, how's your breakfast sitting. |
| Karen (PS4BX) |
[847] Very nicely thank you. |