This is a collection of the activities completed on May 1, 2013.
As I am in dire need of additional hours with the year closing on in, I met with my mentor to observe the process he uses in recruiting people to be on his team in order to refer the Worth Account to others. The day started off as one of my routine days. After 5th Period I went down to the donuts shop and got myself a tea and waited to be picked up. My mentor arrived and we proceeded to talk about what I would be doing that day. He would give me a basic Taxes 101 and Business 101 lesson to understand more about finances. I was quite ecstatic because instead of going to the same kind of seminar over and over, I would be given scenarios to apply what I'v learned.
By the second hour we have started my mentor's errands of picking up his mother from church and so along the way we talked business. Since I mentioned I go to the donuts shop a lot for tea he asked if I was familiar with the owners. Unfortunately not, because connecting with business owners are the main parts about being an agent for Worth Unlimited. It is about networking and connecting with others to get their interests out and see if they have the drive to become and agent or take a look at the software. We then went to Starbucks to kill some time and we talked more about businesses and their strategies in gaining customers. The main topic was the Starbucks drink sizes that trick people into paying less or more, tall is the small, and Grande is the large, and how it could confuse people.
Third and fourth hour after dropping of his mother we went on down to the office. Along the way my mentor told me about a scenario that he had just encountered when showing the product to a customer. He was a 50 year old accountant married to his 50 year old teacher of a wife with four kids, a junior and freshman in high school and two twins in middle school. The man and wife were being stubborn and he told me three main things were wrong with their arguments about not taking the program. First the man was afraid that paying his mortgage faster would include a risk of losing his money if the house was lost in a disaster. Second my mentor mentioned something that caused the wife to worry, and third was that the man threw his financial plans into a paradox. This first part stumped me for a while but I figured out that even if the man lost the house he was still responsible for the mortgage. Second was that with four kids and a 25 year mortgage at age 50 would leave no income at retirement so paying it off faster would be very beneficial. Thirdly was that by not paying the mortgage off ahead of time he would be taxed a smaller amount every year, however to get this smaller tax he would be paying more than he should so it goes against his whole "not paying it off faster" ideal. The second and third things took me quite some time to realize and I needed a lot of hints. By the time I figured it out we had been at the office for almost the end of the fourth hour.
The fifth hour we talked about being a business owner because by being an agent, you are an independent business owner essentially. You are your own boss because if you become an agent you are trying to gain commissions and there is no quota that has to be made. Essentially it was all about things I learned in Economy but I had forgotten about them so it was a good jog down memory lane. The most important were the start off costs, which was the agent fee for signing up ($149) which you would get back after your first commission if made within 30 days, and $20 worth of business cards for people to contact you with. Then there was just making connections and networking, which is my mentor's favorite part of the job, and finding out what makes people do what they do and to try and see if they are a potential agent or customer.
The sixth hour, his appointment came in, and he was around 50 years in age I'd say, an old Filipino man that had previous work with insurance and banks. My mentor would talk about what the program does, and then he would listen to whenever the man would speak and use what he says as an influence. I basically watched and saw how the man slowly turned and got more and more interested into the product.
By the 7th hour the man was interested and would be going to the next seminar which is on the 17th of May. Afterwards I went over with my mentor about what they talked about and how he convinced him because it was a hard convincing. He told me about the 4 types of people, those who take charge, energetic, lazy, or quiet. The man was a very take charge kind of guy and they are the most difficult to get on your side, but when they break they have such a good time and will agree with what you do.
The end of the 8th hour I got a quick review about what went down today, and helped my mentor pack up his papers and equipment for the day. It is a very conversational job and I am really interested in it.
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