Quit Selling Life Insurance Like Walmart & Motel6

Hey, good morning. This is Alberto Riehl with Riehl’s Rants, and the first thing I got to share with you is this is definitely going to be the shittiest video that you ever see from me. The reason why this is my first, what do you call this, selfie video ever shot … I can’t believe I just said selfie. I usually make fun of people that do selfies, but I was told to do this by my mentor to get me outside my comfort zone, so I’m doing it this morning, so here it goes, guys.

I’m in New York City and just finished my mastermind. I was here for the last four days and learned some amazing, really mind-blowing artificial intelligence stuff, machine learning stuff that I can’t wait to get back today and implement in my business. There’s nobody else teaching this. We’re going to apply this to life insurance and keep getting even better results. As I was thinking about this, I’m at the Plaza Hotel right now. You can it’s a pretty nice place, right? Probably one of the most iconic, one of the most famous hotels in the world. You have movie stars stay here, presidents, leaders of state, and every morning, there’s a bunch of tourists outside taking pictures. They can’t even get in. You can’t even get into the lobby here. Look at this elevator. They’re taking pictures from the outside wishing they were in here. I’m thinking, “Well, where are they staying?” Alberto Riehl: Look at this elevator.

I don’t know. Are they staying in Motel 6? Are they staying at Super 8? I started thinking about it. Most of you, if you’re watching this, most likely, you’re selling your insurance services like Motel 6, right, like Walmart, based on prices. That is the absolute worst way to do it. That’s the hardest way to do it. Really, you’re doing your clients a disservice. Why not sell your services like the Plaza does? The Plaza is four to six times, maybe 10 times more expensive than the average hotel yet it’s definitely worth it. I got to talk to people as I was here. Everybody’s in a good mood. Everybody can’t wait to come back. I can’t wait to come back and spend more money here at the Plaza. There are friendly people saying, “Good morning.” Security is good. At the end of the day, that’s what we do, right? We sell security, and so what does that have to do with life insurance?

Now, I’m here at the champagne bar. You can see I’m the first one here. It’s actually very early in the morning. It’s about 6:00 a.m. We’ll probably see the sunrise, and you can’t see this, but I was sitting here …

Oh, that’s not good. Alberto Riehl: This is 5th Avenue and Park, and I was sitting here having a cappuccino yesterday morning, and I was looking at that view outside. If you’ve been here, it’s 5th Avenue, right? Again, one of the most famous streets in the world, and you have Cartier on one side right here in front of me, and then the Apple store. I started thinking about that because yesterday was [Sarah’s 00:03:04] birthday. She likes Cartier. We went to Cartier. We got a nice little ring for her, and I was looking at it, and as far as the commodity goes, it’s just gold and diamonds, right? Gold and diamonds. That’s it.

I started thinking about the same thing where you have other retailers selling that for 80% less than they are. Cartier gets to sell their diamonds and their gold for four times, six times, 10 times more than their so-called competition. That’s another great point. They have not competition, right? Maybe you can go get a ring there at Walmart, but again, just like nobody stays at Motel 6 because they want to. They have to. Same thing, people going to, what is it, save money, live better, whatever it is. That’s total bullshit. We’re sitting there, and we get her a nice little eternity band to stack on her other Cartier ring …

We got somebody saying hi there . Which matches her Cartier bracelet, which matches my Cartier watch. Again, why am I saying that? Because people love to come back and spend more money just like the people here at the Plaza cannot wait to come back and stay again just like I can’t wait to come back and stay again. Cartier is making a very good profit, and at the same time though, adding value to their clients. Everybody there is happy. They can’t wait to spend more money. Then, same thing with Apple, right? I’m looking at Apple. I just picked up this phone yesterday. It’s the new iPhone X. Is that what it’s called right, the 10, or whatever it is? That place is packed. Now, Microsoft has a place on 5th Avenue down the street. That place was not packed yet Apple is selling their computers and phones for about four times more than the competition, right? You can go pick up a smartphone for $250, and that’s what Steve Jobs was told, was the sweet spot. $250. “Oh, no, Steve. You can’t sell iPhone for a thousand. Nobody will buy it.”

Of course, he didn’t listen. Now, because of the iPhone, Apple is the most profitable company in history. This place was packed yesterday. I mean packed, buzzing. I tell the lady that’s setting up my phone, “Oh, man. You guys are so busy.” She goes, “Oh no. This is nothing. We’re not busy right now.” What’s my point?

Again, if you’re listening to this, you’re probably selling your life insurance, your insurance services like Motel 6, like Walmart and like who is it? Toshiba or Lenovo or whatever other crappy computer companies that are out there, but nobody’s lining up to by Lenovos, right? Nobody’s lining up to buy that crappy phone that they’re trying to sell you and save money on. This is what my guys are doing.

My guys are selling life insurance not like Walmart, not like you most likely are, but they’re selling it like Cartier and Apple. When I was out in the field, it was very normal. It was an everyday occurrence where I would walk into a family’s home or I meet with somebody in my office, and they would show me this little 73-dollar-a-month life insurance policy. That’s the average, $73 a month. How does somebody even make money selling something $73 a month? 73 a month. I would walk out of there with a life insurance policy of about $300 a month. That’s right, $300 a month, and they were so happy with me, and they thanked me. They cannot wait to see me again and spend more money with me, and they cannot wait to get on the phone and cancel their crappy 73-dollar-a-month Walmart policy, Motel 6 policy because now, they are covered by value, by Cartier or Plaza or Apple.

Guess what? Those things got on the books higher than anybody else. They stayed on the books. Persistency was through the roof. Placement was through the roof. Renewals were through the roof. Referrals were through the roof. They were happy. They came back and bought more. The re-buys were through the roof. If you’re the guy out there like most insurance guys, 97%, selling based on price, “Oh, look. Let me see if I can save you some money. Give me 15 minutes. I’ll save you 15%.” I want you to realize that you are not a sales professional. You’re an order-taker. Order-takers don’t make any money, right? Order-takers are, “Hey, welcome to McDonald’s. May I take your order please?” “Oh, yes. Let me supersize it. Let me get a Big Mac,” and chances are, you’re earning about the same as that order-taker.

Sales professionals, we sell based on value, and because of that, people are willing to pay four times more, 10 times more. In that same hour that most agents are making their little 73-dollar-a-month commission, whatever that is. Who knows? I think we call it petty cash or gas money. Our guys are earning four times more, six times more, so if you’re one of those guys that’s selling a commodity when it comes to insurance, right, saving people five bucks, and you realize that your client is not loyal to you. They’re loyal to a good deal. You’re going to lose them soon, and you’re scared every day. I want to thank you because without you, our group and the success of our group at Predictable Premium would not be possible.

For our Predictable Premium members that go out there every day and add value to the community and give back and service their clients and keep pushing the envelope and keep doing things that I never dreamed of. We just had a guy name [Derek 00:08:51], sold the biggest policy ever, right, and the person, after just one meeting, we do this in one meeting, 125,000-dollar a year premium. I never did anything close to that, but you know what? Our group, we have members doing that all the time. They keep pushing. They keep adding value to our communities. They keep servicing their clients, and they’re earning, because of it, more money than anybody else out there ever has. I want to thank you guys, and we’ll see you on the very next video.