You Have to Start Small to Win Big: The Value of Baby Steps

 

Many of the common business phrases and jargon exist because there’s truth to them—we wouldn’t give them merit otherwise. You’ve probably heard phrases like: “Anything worth doing is worth doing well,” or “Work hard, play hard.” One that we’ve recently heard is that you’ve got to start small to win big, and this is a MAJOR lesson to learn in the life insurance industry; especially when so many are caught up in the fallacy of “more risk equals more reward.” (You can see Todd’s take on RISK here.)

 

Why Does Starting Small Matter?

To do anything, you have to start–period. If you want to save a lot of money, you must start by saving some amount of money. To build cash value in a life insurance policy, you’ve got to work your way up from no cash value.

While it’s nice to imagine where we will be, it’s important to remember where we are, too. Someone who is not in the habit of saving probably won’t find much success by dumping a large deposit into their savings account. Yet small monthly installments will help them to build the discipline to not only continue tucking money away, but also to leave the money alone. Without the discipline of saving, a large amount could be too tempting to spend in the “right” circumstance. 

Similarly, if you wanted to start “big” with a single premium or a few very large premiums, you could MEC your whole life insurance policy. Done this way, you’d lose many of the benefits of an insurance policy. 

The thing about starting “big” is that it’s much easier to bite off more than you can chew, make small mistakes, or even lose out on potential benefits. We would never say NEVER start big, yet recognize how important small steps can add up to BIG results. 

Starting Small as an Advisor

From an advising standpoint, starting small can be one of your greatest assets. Whether you’re a new independent advisor, or you’re just looking to freshen things up, starting small will help you build momentum. 

If you try to implement too many new things into your business at one time, some things will inevitably fall by the wayside (unless you happen to have a large team of people supporting your many new ventures, and even then it’s a risk). By choosing to narrow your focus to one or two things at a time, you have more time and energy to spend refining and honing those new processes. Then, when they become habitual for you and your team, you can start to implement the next thing. 

Before you know it, you can have exponential growth without:

  • Confusing your team and clients
  • Forgetting crucial steps or letting other processes go
  • Spending money on services you don’t stick with

Instead, you’ll get to benefit from:

  • A confident team, which translates to confident clients
  • Mastery in multiple areas, rather than mediocrity
  • Habitual processes
  • An optimized ecosystem of services that compliment each other

In the long run, the baby steps will inch you toward where you want to be, allowing you to build trust with the people you interact with. This is also how you build community—through deep connections on a small scale and consistent delivery of results. A few happy people will help word spread, and you’ll continue to grow and grow. 

How to Start Small with Truth Concepts™

If you’ve ever attended a Truth Training, you’ll know that we often tell attendees to choose between one and three calculators to focus their attention on. This doesn’t mean “tune everything out.” However, we want people to prioritize taking baby steps to mastery on a few calculators. That way, they can leave training ready to implement those one to three calculators in their business immediately. When the scope is too large, people come away with a good general knowledge of the calculators, yet difficulty getting into the fine details of them on an individual level. 

Narrowing the scope a bit helps you to absorb just enough about most calculators so that you can dive deep when your “focus” calculator comes up. 

It’s okay not to be a complete calculator master after one Truth Training. Everyone starts somewhere, and being intentional about where you want to start will help you build the confidence and knowledge to get started somewhere. Remember—you’ll have 30+ years with your clients if all goes well. You don’t have to teach them everything in one day. You just have to help them take action. And one confident presentation with one calculator is much more likely to help them take action. 

Additionally, we’ve curated our Truth Concepts™ Academy—available with all software purchases—to help you take small steps toward understanding the calculators in a big way. Learning from home should be easier than ever, so that you can build momentum toward mastery.

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