Fillable Agent Business Plan Part I: Business Planning & (New York Life)

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Agent Business Plan Part I: Business Planning & (New York Life)

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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
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)
2
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.
3
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
4
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
5
Business Technology
Sales Central
Marketing Central
NYLIS
eLife
eAnnuity
eLTC
Investment Proposal Tool
Zoom/Virtual
6
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
7
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
Other
Subtotal Misc.
Total Annual Income Requirement
8
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.
9
Section 6: My Production Goals
Required Minimum
Key Goal 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
10
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
11
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
12
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
13
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
1.
2.
3.
Top 4 Business Improvement Areas
3 lowest Rated Items from Section 4
Area
Action to be taken Target Date
1.
2.
3.
4.
14
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Agent Business Plan Part I: Business Planning & (New York Life)

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Completed 22 January 2021

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