How a Seasoned Advisor Used the Taylor Method to Cultivate a Success Mindset and Double His Life Insurance Business
At age 17, John Lytell already knew that financial advising was his path. Over the two decades that followed, he built a sizable book of P&C business. By most measures, John was succeeding as an advisor. Yet he found himself doing the same things day in and day out and expecting them to produce different results. He knew that to serve more clients, he would need to break free from this cycle and get re-inspired.
When John first discovered the Taylor Method on social media, he was intrigued. When he met Eszylfie at an American Family conference a year later, he was ready to take action. He soon began using the Taylor Method to cultivate his success mindset and expand his life insurance business.
When John started out with the Taylor Method, he knew he needed to get excited about financial advising again. He was also ready to master the art of prospecting up. As John put it, “Everyone is a quality customer; it’s not about good or bad. It’s about insuring people I want to be in the same room with; people who I want to do business with and who will provide an opportunity for us to grow together.” For the last five years running, John’s agency had written the most P&C business in the state of Indiana. Life insurance represented an untapped opportunity to grow his business and increase retention, which had been hovering around 65% due to policy non-renewals and lapses. His agency wrote 1350 P&C policies and 45 life policies in 2019, with an average commission of 0 to 0.
John immersed himself in the Taylor Method’s sales language. He used Eszylfie’s insights to show clients the connections between home and auto, life insurance, retirement planning and overall financial health. During his monthly one-on-one coaching calls with Eszylfie, John established accountability and worked through challenging sales scenarios. By utilizing the method’s full range of tools, he experienced a clear shift in both his mindset and his bottom line. John used the art of prospecting up to exponentially increase his income without increasing his workload. By insuring people who provided an opportunity for growth, he boosted his average commissions from $300 to $3,000 or more. His clients no longer just needed automotive insurance and the occasional renters policy. They were also trusting him with insuring their family, their summer homes and their businesses. Eszylfie’s language and process also helped John increase his retention from 65% to 80%.
In the first six months of 2020, John has written 56 life policies (a 125% increase!), which puts him on par to more than double his life insurance business year over year. His agency is now #3 in the state of Indiana for life insurance and has maintained its top ranking for P&C. And his mentality is further accelerating this growth. Rather than start each day thinking about what he “has to” do, he looks forward to all the ways he “gets to” serve his clients. John describes the shift like this: “Say you go into the office every day and don’t like 40% of what you do. This method allows you to like 90% of what you do. It inspires me not only to help people but to actually go out and do it.”
The Bottom Line
By leveraging Eszylfie’s sales language, tools and one-on-one-coaching, John has expanded his life insurance business and reignited his excitement for a career he’s been cultivating since age 17. Armed with a success mindset and proven sales tools, John is well on his way to achieving his next goal: 2,400 personal line policies, 200 life insurance applications and a seat at the Million Dollar Round Table in 2021. Ask yourself, what’s next for your practice? – The Taylor Method Team