Growing a Modern Practice
April 30, 2019 @ 2:17 pm by ACT
- Go back to what works! One of the most interesting things humans do is they stop doing something that works. Sometimes we think that if we keep doing something that works, it will eventually stop working. We compare this to a magic genie lamp where you only have three wishes. We can get nervous about a business development technique being “burnt out,” so we stop doing it even though it is highly effective! What have you tried the past few years that has led to new business? Are you able to do this activity/growth method more often?
- Today’s world is full of turmoil and uncertainty. The best thing you can do in times like this is offer help. We have all been taught to “ask for the business” since the beginning days of our practice. At the same time, given today’s environment, an approach of “offering help” can prove to be even more effective. We all have personal connections with which we would love to do business, yet aren’t sure how to approach the subject. We don’t want to be pushy or damage the relationship, so we avoid the topic at all costs. The best way to get around this is a simple three-step process:
- Name the block: “The last thing I ever want to do is make you feel put on the spot to do business with me.”
- Discuss concerns: “At the same time, there are some things going on in the world that concern me: people aren’t invested properly for today’s world, they don’t have solid retirement plans, and their advisors are not personalizing their investment approach.”
- Offer Help: “So, if you’d ever like to double check and be sure you are taken care of, I would be glad to help.”
When you follow this three-step process you will break down the barriers and have sincere and genuine conversations with your personal network.