Introduction. Because first impressions really count, this is especially important if this is your first face-to-face meeting with the prospect. After greeting the prospect and thanking him or her for meeting with you, repeat the promise you made during the approach to keep the meeting to 20 minutes, and non-sales oriented.

If using the Cotton System, the Personal or Business Viewpoint should be the only material displayed during this interview. Some advisers choose to give all their prospects the PFC first, even if it's apparent that the prospect has greater business concerns. This makes sense if business insurance solutions are not part of your knowledge/comfort zone or prospect profile. Besides, most businessowners' personal and business finances are too closely intertwined to address one without the other.

Prospect Privacy. Once you've presented and explained the PFC or BFC, give your prospects room to breathe while they fill it out. Excuse yourself to make a phone call or whatever. Allow about nine minutes for the average booklet to be completed.

Review Booklet. Wind down your 20 minutes with a review of the completed PFC or BFC. Chances are, your prospect indicated at least one area of interest or concern (almost everyone says that investments that are tax-favored are of high interest). These kinds of hot points will become your reason for setting up a second meeting.

When checking over the booklet, look for areas that the prospect says are NOT concerns. These can be just as important for discussion (why aren't they concerns?) as areas checked as being important.

Set the Second Meeting. Close this first "sale" by scheduling another meeting, preferably at your office. If the PFC or BFC accomplished its primary objective (to disturb the prospect about the need to take action), this should be a fairly easy decision. You can feel confident as you approach the second meeting, knowing that:

• Your prospects know you;


• They understand some needs and wants and financial concerns; and


• They agreed to the next meeting knowing that resolving those needs and wants and concerns will likely mean a financial improvement and purchase.

Here's a typical multi-interview approach.

• Initial Meeting — Introduce yourself, your company and/or firm, and your services, discuss the prospect's situation, needs and wants and concerns, and ask for a "needs and wants Commitment." Time needed: 20 minutes.
• Fact-Finding — Gather information to analyze current assets, needs and wants; confirm the prospect's priorities; and ask for a "Process Commitment" and "Financial Commitment." Time needed: 45 minutes to 1.5 hours.
• Presentation Meeting — You present recommendations to the decision-makers, show how the features/benefits of your products meet the prospect's needs and wants, answer questions, concerns, objections, and close the sale by asking for a "Solution Commitment." Time required: one to one and one-half hours.