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Overcoming PTRD, Step Three: Your Rx for Success

In our past installments, we’ve confronted the uncomfortable issue of PTRD (Post-Traumatic Reading Disorder) and how it may be affecting your personal and professional development. We also gave a few reasons why reading is so important. Now, it’s time to solve the problem. Are you ready to kick PTRD once and for all? Here’s your Rx for success.

Prescription: A Balanced Reading Diet

The important thing to remember about what you read is variety (no, not the magazine). Reading is very much like eating; if you consume the same thing every day, then you’ll get out of shape. The key is to read a range of different topics.

Of course, here at NAA we’re especially fond of motivational and leadership books. Authors like John Maxwell and Dale Carnegie give pinpointed advice on honing your leadership abilities to succeed in the work world. These books will help you see your potential, build your character, and grow as a human being. If you’re one of our agents, the NAA Store’s book section contains a lot of our favorites.

Another part of your diet should include current news, blogs, and trade publications. Many of you might already read the paper every morning, but subscribing to blogs and magazines to find out what’s going on in your industry is a great way to get ahead. Of course, we’d be remiss not to recommend subscribing to NAA Leads the Way for your weekly dose of sales training if you haven’t already.

Finally, you should consider reading works of fiction. War and Peace might be overkill, but something to exercise your ability to think creatively as well as refine your palette for reading comprehension is just what the doctor ordered. Francis Bacon once said, “Truth is so hard to tell, it sometimes needs fiction to make it plausible.” A little dose of fiction in your diet will help keep your creative vision sharp so you can solve those “unsolvable” problems. If you’re not sure where to start, CNN posted a great list of easy-reading fiction that will stir your imagination and hone your reading comprehension.

Dosage: 15 Minutes a Day

Rachel Ray might need 30 minutes to cook a decent meat loaf, but it only takes 15 minutes a day to get into a reading habit.  That’s not really a lot; it’s the collective amount of time most people spend staring into space every day. In 15 minutes, you can bite off a good chunk of information that won’t choke you or leave you starving for more.

The point is to start out slowly and enjoy yourself. Who knows? You may start to like it so much that those 15 minutes a day start to creep up to 30 minutes, 45 minutes, or an hour. That’s when you know you’re cured.

Overcoming PTRD, Step Two: Reasons to Love Reading

In last week’s post, we identified the trauma of childhood reading and how it affects many adults in their personal and professional lives. Maybe you had to translate The Count of Monte Cristo into interpretive dance, or give an hour-long presentation on War and Peace. This experience was traumatic enough to make you dislike anything with a verb, a noun, or, heaven forbid, a subordinate clause in it. Sadly, that aversion is preventing you from appreciating reading for what it truly is: An enjoyable pastime and a valuable life skill.

Many people convince themselves that reading is not a significant part of their lives after they get out of school. According to some sources, 58% of adults never read another book after high school. Sure, you’re not going to have to write on the duality of character foils, but regular reading offers many benefits beyond the purely academic.

Better Communication through Understanding

The more you read about the world around you, the more you’ll understand it and those who live in it. This includes clients, friends, associates, and even your family. Reading likewise gives you the opportunity to understand issues that would normally be foreign to you. As Stephen Covey points out in 7 Habits of Highly Effective People, seeking first to understand then to be understood is a powerfully effective way to communicate.

“Out of the Box” Problem Solving

If you’ve ever felt like you were running in circles trying to solve a problem, you’ve experienced an issue that many people in business face at one time or another; deadlock thinking. Difficult problems often call for creative solutions, and reading can help you develop the sort of creative thinking to tackle them.

The Savvy to Succeed

Nowadays, it takes more than pluck and moxie to succeed. To get ahead, you also need savvy. Market trends, cutting-edge tactics, emerging philosophies, modern technologies… the playbook is constantly evolving. If you want to stay on top of your game, reading regularly is a great way to do it.

Now that you know why reading is so important, you’ve got two important questions to answer: What should you read, and how much? Come back next week for our final installment and we’ll prescribe a reading regimen to put you on the road to recovery.

Overcoming PTRD, Step One: Admitting You Have a Problem

Is your reading list limited to emails and the backs of cereal boxes? Are you feeling lost in the modern world? Do you feel stunted in your development as a salesperson, or as a person in general? Believe it or not, these are all signs of a very serious mental condition called Post Traumatic Reading Disorder, or PTRD.

When it comes to anxiety, reading is an underestimated problem. It might not be something that Dr. Phil discusses between out-of-control teen day and husband boot camp, but it’s something that affects many of us. Still, you might have been traumatized and not even realize it.

Diagnosis

Think back to your childhood. Do you remember throwing together a hastily-written book report on Treasure Island, or reading James Joyce’s Ulysses in college and having no clue what it meant? The books themselves are harmless, but reading them is nonetheless traumatic for one important reason: You’re forced to do it. Not only that, you’re forced to write essays on them. This demand for regurgitation can cause severe performance anxiety which, in the end, turns you off to reading altogether.

Fast-forward a few decades. You’re in the real world now, trying to get ahead and excel in sales. Not reading regularly will affect your performance and your happiness in general. You know that reading should be a part of your day-to-day life. There are reports, memos, proposals, and contracts waiting on your desk at work, and books waiting on your nightstand at home. You feel guilty neglecting them and the value they could be adding to your life. Still, you just can’t bring yourself to give them the attention they deserve, all because of PTRD.

Symptoms

Without the proper recovery program, you’ll only continue to suffer from Post Traumatic Reading Disorder. Some of the common symptoms include:

• Difficulty developing and understanding new ideas
• Lack of inspiration
• Lack of personal and professional fulfillment
• Poor writing style
• Failure to stay competitive in the sales force

Treatment

I know; this is starting to sound like one of those commercials for anti-depressants or “invigorators,” but we promise not to tell you to talk to your doctor about some cure-all medication. In fact, there’s a simple cure for PTRD that’s 100% effective: A regular dose of R-E-A-D-I-N-G.

Now that you know why you don’t like to read, it’s time to learn all the reasons why you should love it. Next week, we’ll delve into how regular reading can make you a happier and more successful individual.

Want to kick start your PTRD treatment right away? Subscribe now for a weekly dose of sales inspiration.

The Pitfalls of Profitability, and How to Avoid Them

Many people think earning money is the only step to profitability, but there are pitfalls you might face as an agent if you only focus on dollar signs. We’ve consulted with the pros of proven profitability (try to say that three times fast) and here’s the advice they gave us:

Profitability Pitfall #1 - Pacing

If you’re a new agent, you’re probably excited and ready to hit the ground running. That sort of enthusiasm will take you far, but it may also trip you up. When you’re just starting out, it’s important to realize that there will be financial and logistical limitations. Think of yourself like a great runner or race horse; if you sprint forward in the first few seconds of the race, you’ll run out of steam before you hit the finish line.

Consider this scenario: Your upline manager gives you 100 leads to work with. Once you sign contracts with these clients, you may be tempted to buy 100 leads yourself. Remember, though, your manager is working from a reserve of funds s/he has built up over time. Buy that many leads yourself and you may turn upside down if you break your stride.

Obviously, proper pacing is paramount to profitability (another tongue-twister). If you feel like you’re going too fast, here are three ways to slow down and regain control.

1. Start on the Right Foot. You might think that the interview process is only for you, but check out your upline manager before being hired and find out what type of leader s/he is. If they expect you to buy a large amount of leads on your own or sell a massive amount in your first week, ask yourself honestly if you think you can do it.
2. Talk to your Upline Manager. If you’re feeling overwhelmed with leads or a certain quota goal, be honest and see if the two of you can come up with a strategy to help you achieve it together.
3. Work with What You Have. Instead of buying out expensive leads, use referrals from leads you’ve already bought. Phillip Hudgins proves that this method is a great way to get more bang for your buck.

Profitability Pitfall #2 - Chargebacks

Here’s a nasty not-so-secret about the insurance business. There are two types of commissions; advanced and as-earned. Advanced commissions will deliver all or most of your commission in one lump sum, while as-earned commissions are allotted to you in smaller increments monthly.

I know what you’re thinking: Lump sum sounds great! With all that money in the bank right away, you could buy whatever you wanted! A new car, a flat-panel TV, an iPhone… you worked hard; you deserve a luxury or two.

Then, your client decides to cancel his contract or let his policy lapse, and the money advanced to you is suddenly not there. You have to repay the amount not gathered from the original contract with money you’ve already spent!

Many times you’re hanging on by an advanced commission for almost the entirety of a client’s policy before it’s transferred to an as-earned commission. You can easily be lulled into a false sense of security 5 or even 6 months into a policy, but even this far in, a canceled contract could result in the financial rug being pulled out from underneath you!

This is called a “chargeback,” and is why as-earned commissions are safer profit-wise. If you do have an advanced commission set-up, it’s best to hold on to your advanced money until the contract clears with your client, or treat it as if it was an as-earned commission. This will prevent you from spending more than you actually have in the bank.

But what if you just can’t hold on to all that money? It’s true that in order to make money, you have to spend money. In that case, budget your commission money well. This goes hand-in-hand with pacing; know where your money is going and how much of it is being spent. We recommend setting aside around 20% of your commissions in your “in case of chargebacks, break glass” file in the untimely event that a contract falls through.

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At NAA, enthusiasm and tenacity are great skills that will take you a long way. However, in order to maintain, you have to pace your sales as well as your commissions. You can grow too fast and fall hard if you don’t keep your eyes on your funds and portion out your profits. A seed can’t grow into a tree in one day, but persistence and prudence will take you far.

Successful Salespeople Start Here

If you know about NAA, you know that we’ve got some of the greatest sales minds in the world, and we’re out to prove it. Welcome to NAA Leads the Way, a weekly blog with the simple goal of making you a better salesperson.

Here’s a revelation, though: Being a salesperson isn’t just about sales. It’s about dreams and aspirations, too. We all want to be successful, and writing more business is only one piece of the puzzle. That’s why we’re not just out to make you better at sales; we’ll be offering up nuggets of wisdom to help you become a better person, too.

As you read, remember that this isn’t a one-man show. Blogs are about conversation, and that’s exactly what we’re here to have. If you’ve got a question or a comment, tell us what you think at the bottom of each post. Don’t be shy; if you’ve got something to add, speak up and tell us about it. Your comment will go up on the page for all to see and respond to, including the folks here in Burlington.

As we go along, you’ll hear from NAA’s blogging team, notable voices at NAA corporate (Jay Daugherty, for starters, and maybe a post or two by Andy Albright down the line if we can wrangle him into it), and some of our top agents, all with their own unique perspectives on success in business and life in general.

What do you say? Ready to become a better salesperson? Subscribe now and let NAA lead the way.