Archive for October, 2007

Your Prosperity Mindset

Monday, October 29th, 2007

Dear Bill:

 

I love your approach, concepts…  On your latest email titled “missing link…” I have some commentary to make if you would allow me. ( To view this recent article send an email to info@referralcoach.com and put Missing Link in the subject line.)

You are for the most part right on the money about the generalization of the prosperity mindset (not willing to work for it, fear, old habits etc…) when it applies to how many people think/self talk when change or improvement is needed.  But I want to caution you about lumping “some” professionals that I know who seek more balance in their lives (and are smart, innovators, humble, risk takers, very successful) and focus on some form of balance which they feel is success. 

Moreover, I would challenge you that these professionals often are labeled as “not willing” to work for what it takes to reach prosperity as it is defined by many companies/owners today.  From what I have witnessed over the last 25 years in a successful sales /marketing career, is that too many high achievers become divorced, are paying alimony (which dilutes their wealth), are prematurely unhealthy etc.. and don’t actually win the race when all of the dust clears, at least in my opinion.

In summary, some of these professionals described who do seek more balance in their work/life are actually choosing not engage in certain “prosperity” generating events/action not because they have issues (head trash) that restricts them; but because they want to spend time serving their families, communities etc… as well.  Any way you cut it, there is only 24 hours in a day and we all only have one life to live.  There are no re-do’s…

Something to think about….

John      

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 John, Thanks for taking the time to write and share your perspective. I couldn’t agree with you more. Success and prosperity come in different forms for each of us. I, too, get tired of “chasing the dollar” from time to time. In fact, I’ve earned a lot less money than I could have, so I could spend more time with my daughter and just have more balance in my life.

If someone chooses not to build a bigger business because they see that bigger business as taking away from other priorities, then I can certainly honor that. Money is clearly not all there is to life.  On the other hand, if that person really wants a bigger business, but allows fear or mistaken assumptions to get in their way, then I would wish them a way out of that limiting situation.  Does this make sense? It is clear, that many managers and company executives want every advisor to run a multi-million dollar practice. But that’s their agenda. I think an important part of life if figuring out what our “agenda” or vision really is – what do we really want (and I don’t just mean money and things).  Then, finding a way achieve our vision.

Feel free to write at anytime. Share your success and questions. Feel free to challenge me.  I wish you great success (whatever that looks like to you)!

Bill  

 

 

 

 

 

 

The Locker Room/Hot Tub Approach

Monday, October 15th, 2007

Here is one Bill! Today I decided to use the last row of lockers that are close to the showers (thinking I wouldn’t have far to walk) and I felt I walked into the aisle of “WHO’s WHO” in my town. How do you make that approach in the locker room or hot tub when your naked and so is the guy your talking to. When I asked another Financial Associate he said, “keep it easy, and when they ask you what you do tell them, then as you see them off and on at the Y make that approach after the 2nd or 3rd time you have a conversation with them. Ask them if they would be interested in “learning about some strategies that may help them reach their goals” . I have yet to get to that point, but plan on trying it soon. What do you think? And what could be a better approach?

-AM

Thanks for taking the time to write. I have to tell you, this is one of the more unusual questions I’ve received – not so much the topic, but the setting. 

Seriously though, I think we can put the setting aside and just deal with the basic situation of approaching people at your club or “the Y” for business. 

Personally, I think bringing up a possible meeting on the 2nd or 3rd time is a bit aggressive – unless they express real interest in what you do.  Of course, sitting on committees or playing golf as a single (joining another group) are great ways to create visibility (but with your clothes on). 

If these folks are business people who might need new clients for their business, learn about them and at some point say, “If I ran into a good prospect for you and your business, how would I know it and how would you like me to introduce them to you.” 

Once you have a bit of a cordial relationship going, and you’ve learned about them, their business, and their family, you can suggest a meeting – but in a very low-key manner.  Here are a couple of sample conversations that just come to me as I think about it.  Of course, every situation and every person will dictate how you express this. 

“Jack, I’ve enjoyed meeting you and learning about you and your family. My firm and I are doing some very important and creative work for small business owners such as yourself. I’m wondering if we might get together at some point to see if I might become a resource for you. What do you think?”

“Jack, this is not something I bring up with members of the Y very often, unless I see a real reason to. We do some pretty important work for people who are nearing retirement and I like to present myself as a possible resource for you. Do you think we can grab a drink or cup of coffee sometime soon to discuss this?”

If I were you, I’d err on the side of going slower not faster.  Hope this helps. 

Bill 

Following Up on Referral Events

Tuesday, October 9th, 2007

Bill,

 In a recent Referral Minute you wrote about referral events which are “hosted” by the client.  What would the follow up look like for such an event?MT

 

For those of you who missed it, here is an excerpt from the most recent Referral Minute:

If you are planning any referral events, consider this powerful shift in how you approach your clients.
While you - the financial pro - are the “sponsor” of your referral event, make your client(s) the “host.” Have them invite their friends and colleagues with verbiage such as: “George and Martha, I’m hosting a small dinner party at Chez Expensive in a month and would like you to attend. There will be 10 of us for this special dinner. The chef is preparing a special dessert, just for our party. I’m hosting this little event as a way to introduce you to my financial professional, Barbara Money.

Of course, how you follow up a referral event will depend greatly on the nature of your event. Some advisors like to take photos of the clients and their friends and mail them to them – or post them on the internet.  Some go so far as to send them a framed photo – the client and their guests. 

Beyond this sort of “gift” follow up, you should definitely call your new prospect within 24-48 hours.  If you like, you can call your client first.  Say something like, “George, I was getting ready to call Bob and Wendy, but thought I’d check with you first. Do you think they enjoyed our dinner last night?  Is there anything they said that would preclude me from calling them?.” You may get some nice insight from your clients about the call to your new prospects. Bottom line… follow up!

Bill