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When prospecting see yourself as the professional consultant you are. Your job is of the utmost importance – you’re there to safeguard your clients’ financial future. It doesn’t get much more important than that and you are due respect.
So, if you find you’re fighting to win new clients, rushing through a presentation or apologizing for asking for the order, take a step back. Understand that you add value to your clients’ lives. Because of you people will be able to retire comfortably or get their kids through college. Your clients should feel privileged to do business with you, not the other way around.
Here are three things to avoid doing with clients.
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Don’t fight to get in the door
Prospecting is an essential part of the business but you should never chase after someone who is obviously not interested in what you are saying.
When someone opens an account with you they have been awarded a lucky break because you are going to change their lives for the better. Maintain your dignity and keep this in mind. Remember that in a game of poker even a ‘non-bet’ is a message. So, what message are you receiving if someone is making you chase after them?
In the same vein, don’t be so desperate for business that you take on every prospect you come across. Build your business like you are going to sell it. You’ll build a better business. Write an ideal client sheet and do not deviate from it. If you want to work with married engineers living within 25 miles of your office, stick to that. Be consistent and focus on your target market. Turn away people who don’t fit the profile – no matter how tempting the assets on offer. And only do business with people you like, because you are in line for a long-term relationship.
Don’t rush through a presentation
Your presentation is your opportunity to shine and connect with the people across the table. Potential clients are watching what you do and how you do it, they are mentally grading you. They are deciding whether they like you, trust you and feel confident you are recommending the right thing. So, if you rush through, stumble and trip over your words, you will be giving them a negative impression.
This is a small window to showcase yourself so you must excel. Don’t work hard to get someone to the table then have them walk away without a commitment because your presentation was less than compelling.
Your presentation doesn’t need to be long, it just has to be great and what you say must be easy to understand. Make it clear that you embody a value that’s way beyond price e.g. ‘retirements are postponed because of poor decisions – not fees’.
Related: How Prospecting Helps You Overcome Your Fears
Don’t apologize for asking for the order
If you don’t ask for the order, your clients may be passing up an opportunity to change their lives for the better without even knowing what they are missing. Everything you get in life comes from asking. So, once you’ve listened and understood their motivations, and overcome any objections, look people in the eye and ask.
Appearing apologetic puts your relationship on an unequal footing, it diminishes your credibility and puts the client into a superior position. That’s not a great recipe for starting a relationship. Good relationships should be about mutual respect. And in any case, if one party should be dominant it should be you – because you are the service provider, the expert. You get hired because of your expertise and knowledge in financial management – something the client doesn’t have.
Your job as a financial advisor is more than simply managing people’s returns – it’s about giving them a ‘return on life’. If you believe in your value proposition and communicate it to clients, they will understand your inherent worth – that you will bring order to their financial life, help them achieve life’s goals, and deter them from making emotionally driven decisions.
Your core values are unique and desirable – so don’t lose the faith. Believe in yourself and others will believe in you.