When Asking for a Commitment, Make Up Your Mind in Advance
Of all the presentations given by Financial Advisors to prospective clients on any given day, how many end up with no commitment being made? We’ll never know. Of all the presentations which end up with no commitment being made, how many end up that way because the Advisor didn’t ask for the commitment? We’ll never know that either. But we can take a pretty good guess and we can also guess why.
Listen to this audio episode or read the transcript below to learn how to ask for commitment.
It is natural to want to behave in an effective manner.
We want to answer all the questions and overcome all the objections. We want to give an effective presentation. We want to do what’s right for the other person. And we do just that 95% of the way. Then, when it’s time to do the final right thing, we all too often don’t.
I’m going to suggest that the next time you want the presentation you are about to give to end up with you getting a commitment, make your mind up in advance to ask for said commitment.
When asking for a commitment, make up your mind in advance to do it.
Do not go into that engagement with the idea that you’ll wait to see what happens. Do not depend upon the other person to make the first move. Do not believe for a moment that his or her goal is to make it easy on you. Make up your mind in advance that you are going to ask that person to act on your advice.
I know that making up your mind in advance is easier said than done.
But it is done thousands of times a day by successful Advisors. It all starts with believing in yourself, in believing that you deserve that success. You needn’t by shy if you are doing the right thing.
Don’t think about yourself when it’s time to ask. Am I being pushy? Am I getting red in the face? Am I embarrassing myself? Am I about to hear a big, fat ‘no?’
Think instead about the children. Think of your prospective clients living the life they deserve, but they will only get if they do what’s right.
When you are writing down your goals for the year, make asking for a commitment a goal.
Choose to be optimistic. Have a servant’s heart. Don’t be devastated when you get rejected or put off to a future date. You’re not going to get what you want every time, but at least you asked.
Ask any successful business owner what got him or her where she is today and determination and luck will be two of the top three answers. Some clichés are true and ‘The harder I work, the luckier I get’ is indeed true. Anyone who has got to the top of the mountain of success was determined to get there. Every mentor I’ve ever had has told me that talent is overrated. I’ve never been told that determination is overrated.
I know you are in this business for more than the money.
You’re in this business because you have an aptitude for it and because you want to help people. The best way a Financial Advisor can help people is to make them financially independent. They can’t become financially independent until they embark on a plan and see it through to completion. When you get someone started in that direction, it’s not a question of asking someone to do the wrong thing. When you are truly trying to help people do what’s best for them, they get it.
As do you, most people have a good sense of their own best self-interest. They will not follow your advice unless they agree it’s the right thing to do. Make up your mind to ask. Don’t be afraid. Simply ask. They will or they won’t. If you’ve done a good job up to now, they will.
If you like Don’s advice, check out his webinar replay – all about objections!
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