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The magnificent obsession

The magnificent obsession. What did it mean?. Building a large client base (he believed somewhere between 500-1000 clients) to make your practice bulletproof Taking an assessment of which clients are truly active (meaning they are likely to buy again)

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The magnificent obsession

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  1. The magnificent obsession

  2. What did it mean? • Building a large client base (he believed somewhere between 500-1000 clients) to make your practice bulletproof • Taking an assessment of which clients are truly active (meaning they are likely to buy again) • Focusing on acquiring new clients throughout your entire career • Avoiding premature retrogression – a term he used to describe veteran representatives who focus too much on repeat sales rather than building new clients

  3. Why did it work? • The desire to have a bulletproof practice is significant and timeless • It drove renewed focus on building a strong practice through new client building and assessing active clients • It provided a measurement of long-term success

  4. Others who agree • If money is your hope for independence, you will never have it. The only real security that a man can have in this world is a reserve of knowledge, experience and ability. ― Henry Ford • The great thing in the world is not so much where we stand, as in what direction we are moving.― Oliver Wendell Holmes

  5. How can The Magnificent Obsession help you? • Understanding how new clients play a role in your longevity can bring focus to how you spend your time. • Determining how many clients you want to have in your practice provides a goal to work towards. • Evaluating how many active clients you have can inspire you to renew your focus on building your practice.

  6. Questions to Discuss • Do you think that your practice can be bulletproof? If so, what does it look like? • What percentage of your business is new versus repeat sales? What does that number tell you? • Do you think new clients is the best measure of long term success? Whyor why not? • What is your key take-away from today’s discussion?

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