Nick Murray Article

or Register to post new content in the forum

 

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Nov 14, 2008 3:16 pm

Going through some papers, I came across a Nick Murray piece from February 2006 titled, "Three Questions for 2006".

 
If you are looking for pre-retiree (if ever now)/baby boomer clients, he suggests basing your career on this question:
 
"As nearly as you can tell, are you going to outlive your money, or is your money going to outlive you?"
 
He then says, "Nine out of ten 60 year olds with any money, any brains and any soul are going to give you back the truthful answer, "I don't know".
 
So here's my thinking.  If you asked everyone in that age band that you could come across that question, and said, "I want you to think the answer, don't tell me".  And tell them, that you work specifically with people who will answer the question with an honest "I don't know", and that your goal, your life's purpose, is to get them to a point where they can answer the question with "Their money will outlive them", I think you will come across with the confidence to win some good business.
 
All you need to do is find 250 people with an average of $400,000 who answer, "I don't know", to have a $100,000,000 book of business.
Nov 14, 2008 3:24 pm

That's awesome, snags. Thanks for sharing that valuable information.

Nov 14, 2008 5:30 pm

That is absolutely right on the money.  If the prospect thinks they know the answer to that question you dont want to work with them anyways.

Nov 14, 2008 11:12 pm

From Nick's website:

 
http://www.nickmurrayinteractive.com/articles/sample2008everything.html
 
 
Nov 15, 2008 9:52 am
snaggletooth:

Going through some papers, I came across a Nick Murray piece from February 2006 titled, "Three Questions for 2006".

 
If you are looking for pre-retiree (if ever now)/baby boomer clients, he suggests basing your career on this question:
 
"As nearly as you can tell, are you going to outlive your money, or is your money going to outlive you?"
 
He then says, "Nine out of ten 60 year olds with any money, any brains and any soul are going to give you back the truthful answer, "I don't know".
 
So here's my thinking.  If you asked everyone in that age band that you could come across that question, and said, "I want you to think the answer, don't tell me".  And tell them, that you work specifically with people who will answer the question with an honest "I don't know", and that your goal, your life's purpose, is to get them to a point where they can answer the question with "Their money will outlive them", I think you will come across with the confidence to win some good business.
 
All you need to do is find 250 people with an average of $400,000 who answer, "I don't know", to have a $100,000,000 book of business.
 
Very, very nice.  That also fits for the 15 second Elevator Speech that we're supposed to have ingrained in our brains.