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Agent Business Plan

It’s been said that “Goals are dreams with

deadlines.” Our commitment to you as a

Management team is to give you the tools, resources, training and support to help achieve

those dreams. As your business evolves, so should your goals, and your plan. Each year you’ll

complete a personal assessment and business plan which will drive your activity throughout

the year. This is a workspace for honest reflection and actionable planning. We look forward

to supporting you on your journey this year, providing guidance and accountability for the

goals you set, and celebrating your achievements.

New York Life Insurance Company

Part I: Business Planning & Ideal Schedule

Section 1: Your Mission Statement ............................................................................................ 3

Section 2: Personal Assessment ................................................................................................ 4

Section 3: Business Assessment ............................................................................................... 5

Section 4: My Income Needs ...................................................................................................... 7

Section 5: My Goals ..................................................................................................................... 9

Section 6: My Production Goals ............................................................................................... 10

Section 7: One Year Activity Planning ...................................................................................... 11

Section 8: Time Management – The Ideal Schedule ............................................................... 12

Section 9: My Action Plan .......................................................................................................... 14

SMRU 1881336 (Exp.12.31.2021)

Section 1: Your Mission Statement

Your Mission Statement is a clear statement that sets the tone and definition for your business.

How would another person describe what you do?

It should be worded in such a way that when you read it from time to time, it serves as a reminder of

what you do and why you do it. It’s your purpose. It should also be easily repeatable by your clients,

family and friends. (Mission Statements must be submitted to SMRU prior to usage for approval.)

Examples

“As a financial professional with New York Life, my mission is to act as an integral part of the local

community in helping new parents create financial security and meet their personal financial goals.”

“A financial professional for small business owners and their employees, offering employee

benefits”

Give it thought and make it unique to you and your practice.

My mission statement is

Write it. Practice it. Live It.

Section 2: Personal Assessment

Before you move forward, it’s important to evaluate where you stand. Your well- being is critical to

personal and professional success. For this personal assessment, let’s review your professional,

physical and emotional fitness.

We ask our clients to go through this exercise and it is only fitting that we Walk the Talk by

reviewing where we are and taking steps towards positive change.

Rate each area on a scale of 1 to 10 (1=poor, 5=average, 10=superior)

Professional

Belief in myself and New York Life

Commitment to Learning

Setting Reachable Goals

Time Management Skills

Communication Skills (speaking/listening/writing)

Relationship Building Skills

Physical

General Physical Fitness

Professional Business Attire & Wardrobe

Exercise Routine

Relaxation Time

Healthy Diet Habits

Emotional

Confidence

Integrity

Family

Personal Finances

Sustaining Personal Relationships

Section 3: Business Assessment

It’s also important to assess your business skillset. To meet the needs of your clients and achieve

your goals, this assessment helps identify development opportunities for the year. For this

assessment, let’s review your prospecting, selling, product and technology proficiencies.

Rate each area on a scale of 1 to 10 (1=poor, 5=average, 10=superior)

Prospecting

Staying Active in the Community (in person/virtually)

My Elevator Talk/Approach

My Referral/Personal Introduction Talk

Nest Markets (Identify and Approach; 2-3)

Selling System

Financial GPS (Positioning Conversation & Fact Finding)

Life Products

Fixed & Income Annuities Products

Investment Products

Note: can only be offered by Registered Representatives, NYLIFE Securities LLC

LTC Products

Closing Skills and Strategy

Involving Mentors/Consultants in Joint Selling

Proactively use FOD Resources

Overcoming Objections

Business Technology

Sales Central

Marketing Central

NYLIS

eLife

eAnnuity

eLTC

Investment Proposal Tool

Zoom/Virtual

Section 4: My Income Needs

Every business and family has “operating expenses.” To set income goals, start with identifying

your needs. Want more help fine tuning your finances? There are multiple apps and calculators for

calculating personal income needs that you may want to consider.

Monthly

Annually

Fixed Expenses

Rent or Mortgage Payment(s)

Utilities (Water, Electric, Internet, etc.)

Car Payment(s) & Insurance

Child Care Expenses

Health Insurance

Term Insurance, LTC, Disability Insurance

Other

Subtotal Fixed Expenses

Living Expenses Monthly

Annually

Groceries

Clothing

Laundry and Tailoring

Non-Business Meals Out

Auto Expenses (Gas, Repairs, etc.)

Debt Payments (Credit or Student Loan)

Other

Subtotal Living Expenses

Business Expenses

Monthly Annually

Marketing & Prospecting Expenses

To complete in Part II

Internet and Cell Phone Bill

Industry Membership Dues (NAIFA, etc.)

Branding Expenses

To complete in Part II

Tuition (CLU, ChFC, CFP)

Reimbursable if applicable

Other

Subtotal Business Expenses

Savings and Accumulation

Monthly

Annually

Retirement Accounts

401(k) Contributions

Other Systematic Savings

Subtotal Savings & Accumulation

Miscellaneous

Monthly

Annually

Religious / Charitable Contributions

Entertainment (Concerts, Movies, etc.)

Gifts

Vacation Savings

Other

Subtotal Misc.

Total Annual Income Requirement

Section 5: My Goals

This is perhaps the most important aspect of your business plan!

The goals you set should be constantly on your mind as a reminder why you do what you do. Those

whose goals are clear and deeply rooted have found personal power and are on a collision course

with success. Remember to “begin with the end in mind”!

One Year Goals

Examples: Career Summit, Pass Series 6, Life Success Award, Family vacation, etc.

Business Goals Date Personal Goals Date

1. 1.

2. 2.

3. 3.

4. 4.

2-5 Year Goals

Longer term goals are equally as important as short-term goals for business success. Write a quick

vision statement for the direction you see your business in the next 2-5 years. How do you want to

be viewed in the community? What do you want your business to be “famous” for?:

Examples: CLU, President’s Council, Pay off car, etc.

Business Goals Date Personal Goals Date

1. 1.

2. 2.

3. 3.

4. 4.

Section 6: My Production Goals

Required Minimum Key Go

al Stretch Goal

Total Gross Income

Training Allowance,

Expense Allowance,

Renewals, and Other

Bonuses

Total FYC

# New Cases

Council Goal

Click here for the latest

Council Eligibility

information

Average FYC per case

Section 7: One Year Activity Planning

New Agents should refer to the General Office’s Activity Standards. All other agents should use

their personal averages to build your plan. Consider: If you don’t know your numbers, how can you

improve?

New Names Gathered per week

New Appointments per week

Fact Finders per week

Closing Appointments per week

Referrals per week

Sales per week

Monthly Total FYC Goals

Section 8: Time Management – The Ideal Schedule

To support achieving your business plan and goals – time management is critical. We’ve

categorized daily activities to prioritize them and put them in what we call the “Ideal Calendar”. You

should organize each day so there is a level of routine and consistency.

Make sure to complete the prioritized income generating activities first and then move on to the

rest. Here are examples of daily activities.

Green Time

Green activities only involve prospecting and selling. We consider green time to be prime business

hours -hours during the week needed for appointment generation or sales presentation. All other

activities are scheduled around green time. When you catch yourself doing a non-green activity

during green time – drop whatever it is and pick up the phone and make calls.

Blue Time

Blue activities are those activities that are necessary to make sales, but by themselves will not

generate income. Blue activities must be scheduled around and not OVER green time. Remember,

nothing else happens until something is sold!

Ideal Schedule Example

My Ideal Schedule

Monday Tuesday Wednesday Thursday Friday Saturday Sunday

7:00 – 7:30

7:30 – 8:00

8:00 – 8:30

8:30 – 9:00

9:00 – 9:30

9:30 – 10:00

10:00 – 10:30

10:30 – 11:00

11:00 – 11:30

11:30 – 12:00

12:00 – 12:30

12:30 – 1:00

1:00 – 1:30

1:30 – 2:00

2:00 – 2:30

2:30 – 3:00

3:00 – 3:30

3:30 – 4:00

4:00 – 4:30

4:30 – 5:00

5:00 – 5:30

5:30 – 6:00

6:00 – 6:30

6:30 – 7:00

7:00 – 7:30

7:30 – 8:00

8:00 – 8:30

8:30 – 9:00

9:00 – 9:30

9:30 – 10:00

Section 9: Review & Take Action

This is where you put your plans and assessments into action! Your Action Plan prioritizes the

items that need the most attention this year to achieve your goals. Based on the answers you

provided in the previous sections, complete the plan below. This page will be shared with

management for development and accountability coaching throughout the year.

Top 3 Personal Improvement Areas

3 lowest Rated Items from Section 3

Area

Action to be taken Target Date

Top 4 Business Improvement Areas

3 lowest Rated Items from Section 4

Area

Action to be taken Target Date

Part II: Marketing & Prospecting

Section1:NestProspectingandGeneralProspecting................................................................................16

1.1Introduction.......................................................................................................................................16

1.2Whatqualifiesasanest?...................................................................................................................16

Section2:InitialMarketAnalysis.................................................................................................................17

2.1MyProfile&PortsofLifeExamination..............................................................................................17

2.2IdentifyMyInitialMarket(Top20)andNest....................................................................................20

Section3:Marketing:BuildingYourPersonalBrand&Nurturing...............................................................21

3.1DigitalPresence&PersonalBranding................................................................................................21

3.2NurturingandRelationshipManagement.........................................................................................22

Section4:ProspectingActivities.................................................................................................................24

4.1ResearchandSourceAdditionalNames:..........................................................................................24

4.2CenterofInfluence/Referral.............................................................................................................25

4.3Networking........................................................................................................................................26

4.4Seminars,WebinarsandWorkshops................................................................................................26

4.5Communityeventsandvolunteering:..............................................................................................28

4.6BusinessCanvassing:.........................................................................................................................34

4.7AssociationProgram.........................................................................................................................34

Section5:UniqueValuePropositionandElevatorTalk.............................................................................35

5.1UniqueValueProposition(UVP).......................................................................................................35

5.2ElevatorTalk......................................................................................................................................35

Section6:TargetSegments........................................................................................................................36

Section7:Branding&prospectingbudget................................................................................................. 37

Section8:Review&takeaction.................................................................................................................38

SMRU 1880672 (Exp.12.31.2021)

Section 1: Nest Prospecting and General Prospecting

1.1 Introduction

Congratulations on setting your goal – you’re halfway there. Now a successful business plan is not

complete without an effective marketing and prospecting plan. Successful prospecting is key to

build a robust pipeline to sustain your business.

To get started, let’s take a look at two commonly used prospecting methods: Nest Prospecting and

General Prospecting. General prospecting agents are generalists and don’t focus on any specific

group of consumers, while nest prospecting agents focus on a particular group of likeminded

people connected through their different areas of life.

Nest prospecting is a powerful long-term warm prospecting technique which you can start

implement immediately as part of balance prospecting strategy. It allows you to be a specialist in a

specific group of consumers, which helps you to engage organically, thus significantly increasing

your chance of converting them to clients. Therefore, nest prospecting is a more intentional

practice and provides credibility to open the door to explore other opportunities within the group.

1.2 What qualifies as a nest?

To determine if your group is a nest, answer these three questions.

1. Is your group easily identifiable, accessible, and do you have contact information that you

can leverage to meet with them?

2. Do they have the needs and means to afford NYL products?

3. Do the members of the nest interact and communicate with each other on a regular basis?

Think about what groups you know that are accessible to you and who meet all three criteria above

before we start to analyze your own nests.

Section 2: Initial Market Analysis

2.1 My Profile & Ports of Life Examination

To create an effective prospecting plan, think about with whom would you like to work and

connect? What markets would you like to serve? What do you know about them? More

importantly, where to find them and how to connect with them personally?

To answer these questions, you should have some degree of commonality and access to the

consumers. It helps to start by engaging in self-reflection and examination of your Ports of Life to

analyze your initial market and accessible prospecting opportunities.

In your day-to-day activities, you connect with others on a regular basis. Whether it be through

work, home, or social life, the different aspects of your life, or ports of life, provide you with the

ability to engage with others and create relationships. Ports of life are areas of opportunity where

you can naturally create a warm opening for a conversation. These ports can be categorized as

family and friends, health, self-improvement, career, social/civic, and recreation. Also note you

may have connections through these Ports of Life who may not qualify as a Nest. Regardless, think

through your connections through these ports of life can help you with both general and Nest

Prospecting.

Click Ports of life In Action to use the Ports of Life Sheet to guide your thoughts. They are also

available in the eLearning module in NYLIC-U.

My Age Group is: 20-39 39-50 50-65 65+

Family (immediate or extended family members, close friends and neighbors, or anyone in your

inner circle)

Do you have a family member or friend who’s an influential member of a group or an

association? List name and size of the group or association:

Do you have in-depth knowledge of an industry through a family member or friend, where the

individual can be a point of entry to a group? List name and size of the group:

Health (health club members, athletes, and medical treatment support groups)

Do you belong to a healthy club or fitness group? List name and size of the group:

Do you participate group sports, either recreational or competitive? List name and size of the

group:

Self-Improvement (book clubs, professional organizations and continuing education)

Are you a member of a book club or other self-improvement group? List name and size of the

group:

Are you completing or planning any continuing education or courses? List organizations and

groups which you attended or plan to attend? List name and size of the group:

Career (former co-workers, colleagues, and classmates or the co-workers, colleagues and

classmates of a significant other)

Do you keep in touch with former co-workers? Could you work with your significant other’s

coworkers and colleagues? List names and size of the group.

Are you (or significant other) a member of any alumni group? List name and size of the group:

Social/Civic (whether in person or online, groups that gather over shared interests, causes and

values)

Are you a member of a faith or culture-based organization? If so, list the leader and size of the

organization.

Are you a member of social or professional networks? List the leader and size of the

organization.

Are you a volunteer? List the leader and size of the organization.

Recreation (activities you and the family participate in and enjoy)

What type of recreational activities do you enjoy? List the activities and people you know who

also enjoy those activities.

What type of activities are your kids involved in? List the activities and parents who you can

socialize with while kids are participating in those activities.

Do you coach youth sports? List the league and the number of parents involved.

Identify My Initial Market (Top 20) and Nest

Based on your profile and Ports of Life examination, you’ve built a contact list. Now sort out a

priority list by how much you know about them and how engaged they are. This is where you jump

start your business.

My Top 20

10.

11.

12.

13.

14.

15.

16.

17.

18.

19.

20.

Based on your profile and Nest qualifications, what’s your nest? List names and potential size of the

nest(s).

Example: My nest is PTA/ young families with kids in the Winter Park Elementary School. There

are over 400 families in the PTA and I work closely with the PTA President Michelle. I have their

contact information through directory. They have similar needs and can afford our solutions.

We also interact and communicate on a regular basis.

My nest is

Section 3: Marketing: Building Your Personal Brand & Nurturing

3.1 Digital Presence & Personal Branding

Establishing and maintaining your online presence is a crucial part of marketing plan. A

professional and unique digital brand will increase your visibility as well as give your prospects

and clients insights into who you are, and the value you provide with your services.

Click Here for the complete Digital Presence Guide.

As you evaluate, update your digital presence and plan out the weekly activities, think about these

questions:

What are the social channels your nests prefer to use?

What topics, imagery and messaging will align with the interest of your nest?

Establish your brand

Take or update your professional headshot (it’s important that your headshot looks like you

do in real life, so be sure to refresh every 2-3 years, or after a major change like dying your

hair a ne

w shade)

Update nyl.com profile page with your headshot

Set up approved social media profiles: LinkedIn, Facebook, Twitter

For more information on how to decide which social networks are right for your goals, refer to

the Social Marketing Playbook

3.2 Nurturing and Relationship Management

Keeping in touch with consumers or prospects as well as clients and Center of Influence is crucial to

the success of your practice. Make sure to continue to nurture and cultivate the relationship by

reaching out with life events, relevant content and activities.

Marketing Central Email

Email is an effective way to stay in touch, and Marketing Central allows you to do this easily and

efficiently!

Weekly checklist

Stay in touch! Reach out regularly for holidays, birthdays, and life events.

Enroll Nest prospects in segment-specific nurture campaigns

Send invitations to events and seminars

Follow-up with attendees from this week’s events

Engage not-now consumers you haven’t spoken to with timely content or nurture

campaigns

Check-ins

Be sure to engage and check-in regularly, either virtually or in-person (depending on the

situation/environment) – leverage Zoom!

o Coffee appointment

o Lunch appointment

o Catch up

o Group networking event

o Webinars

o Annual review

o Client Appreciation/Holiday events

What I’ll do

Call

o Make happy birthday calls

o Congratulation calls for life events, holidays, etc.

o Reminder calls for Additional Offer Program, Term Conversion, age change and other

opportunities

o Simple touch base calls

What I’ll do

Direct Mail – Marketing on Demand (MOD)

Even with an increased focused on digital, direct mail is a good way to add another touchpoint and stay

in touch. Marketing on Demand provides you with great content and will do the mailing for you – saving

you time and money!

o Send annual New York Life calendar

o Send birthday or holiday cards

o Topical and product-based postcards and letters

What I’ll do

Section 4: Prospecting Activities

4.1 Research and Source Additional Names:

You’ve built a priority contact list and identified a potential nest. Now it’s important to plan a

strategy to research and learn more about your nest and continue to source additional names.

Utilize the Virtual Prospecting Guide for ideas to source names virtually.

Consider the following online resources:

Careeronestop.org

Organizational directory

Chambers of Commerce

Social and Civic Groups

Industry Associations

Facebook

Nest name:

Additional consumer names:

What I learned about my Nest:

4.2 Center of Influence/Referral

Centers of Influence: Who are the 3- 5 people you know who have access to, and influence on, a

specific group of people, who’d root for your success, and can be point of entry for you to gain

access to the group? Think about community leaders, religious leaders, business leaders and

people who can make an impact in your social and professional circles. Establishing referral

partnerships in your nest can create a steady stream of new introductions to fill your pipeline.

Professional Alliances: Who are 3-5 professionals you personally know that could produce more

referrals for you? Think about realtors, mortgage brokers, lawyers, accountants, coaches, etc.

Centers of Influence

Name Profession

Professional Alliances

Name Profession

4.3 Networking

Networking is a productive way to connect with one or more consumers during short periods of

time. It’s particularly effective when you are positioned as a contributing member of the group who

makes an impact. Actively host or participate in 2-3 networking groups within your nest, in person

and/or virtually. Talk to your nest and research to make sure the networking groups are a good fit.

Group Name Meeting Frequency

In Person? Virtual?

Group Name Meeting Frequency

In Person? Virtual?

Group Name Meeting Frequency

In Person? Virtual?

4.4 Seminars, Webinars and Workshops

Inviting consumers to GO hosted or corporate hosted seminar/webinars are a great way to engage

your nest with relevant

content and convert those names into appointments and sales. It also helps

to re-engage with clients to stay in touch for new opportunities and referrals.

The Grab and GO Seminar is a hub of the most used seminars which includes virtual how-to guides,

as well as seminar rules to follow. Use virtual seminars to engage prospects is a different and

modern way to introduce your value as a financial professional and NYL's value to the marketplace.

Start with 1 seminar per quarter and gradually increase to 1 per month.

Topic: Date:

Location: In Person? Virtual?

Target Nest:

Host: GO? Corporate?

Topic: Date:

Location: In Person? Virtual?

Target Nest:

Host: GO? Corporate?

Topic: Date:

Location: In Person? Virtual?

Target Nest:

Host: GO? Corporate?

Topic: Date:

Location: In Person? Virtual?

Target Nest:

Host: GO? Corporate?

4.5 Community events and volunteering:

Now you already know a lot about where members in your nest go and who they socialize with. Talk

to the people you’re closest with for recommendations on where else you can spend time. What

type of events and street fairs in the neighborhood does your nest like to participate? What type of

virtual events are attractive to your nest audiences?

If your focus is Young Families, local bridal, baby and family events may provide great opportunities

for you to meet new consumers. If your focus is

You don’t have to be a vendor or commit significant financial resources to be part of events.

Walking events and getting yourself acquainted in the community can have similar impact.

Volunteering in these events shows community engagement and allows relationship building and

positive interactions. Where would you most like to volunteer your time this year? The

organization where you volunteer may also be eligible to receive additional funds from New York

Life – ask your DM about the New York Life Foundation!

Here are some questions to ask yourself to vet event opportunities:

Questions to ask before attending an in-person event:

 Who is the audience for this event?

 Seek out events that cater to your target customer segment or Nest group

 What is the theme/purpose of the event?

 Ask yourself if the attendees will want to engage in discussing life insurance with you

 Only participate in events with themes and activities that you, as a financial

professional, want to be associated with (i.e.- avoid events that promote drugs or

alcohol, violence, discrimination against others)

 What is the opportunity to generate leads?

 You want to attend events where you can have direct face to face interactions with

consumers. The volume of leads you are able to generate is directly impacted by the

amount of people you can engage with at the event.

 What kind of table/booth/vendor set up is required?

 Am I prepared to bring the required set up materials? (Is this a large expo or a small local

event?)

 Is the cost to participate within your marketing budget?

 Your marketing budget should allow for participation in at least one event per month

(include the cost for event promotion, set up materials, displays, giveaways, etc.)

 Will there be competitor financial professionals at this event?

 Seek out events that allow you to be the only financial professional participating,

especially at a local event.

Questions to ask before attending a virtual event:

 What is the topic of this event?

 If there is a main topic of discussion it should naturally transition to/complement life

insurance.

 Who is the audience for this event?

 You should seek out events that promote topics for a targeted audience that will be

interested in hearing about life insurance.

 Example: Partnering with a local realtor for an informational webinar targeted at

young couples about home ownership.

 Example: Partnering with a local organization providing information to pre-retirees

about planning for social security benefits.

 How many people are expected to attend?

 Keep in mind that actual attendance for a virtual event may be lower than those that

RSVP'd.

 How much time will I have to speak and present slides?

 Find out beforehand how much time you will be allotted to present directly to the

attendees so you can plan ahead.

 Is the cost to participate within your marketing budget?

 Your marketing budget should allow for participation in at least one event per

month (include the cost for event promotion, set up materials, displays, giveaways,

etc.)

Start with at least one event per month and increase the cadence as time allows. Choose a peer

agent to be your community event “partner” to attend with you and share costs if applicable.

January

Event Name: Date:

Location: In Person? Virtual?

Target Nest: Event Partner:

Supplies needed: