Why You Need a Referral Strategy and How to Develop One

Why You Need a Referral Strategy and How to Develop One

Many advisors are uncomfortable asking clients outright for referrals, finding it hard to strike a balance between being aboveboard about wanting to acquire new business and being pushy or needy.

If that sounds like you, then you need to change your mindset because there are only three ways to gather new clients: From existing clients, people you know who are not yet clients, and people you don’t know yet. The best way by far to find new clients is via referrals.

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Use Your Clients as Your Sales Force

Use clients as your sales force - welcome to Don Connelly 247

A few years ago I got a question from Ryan who was wondering if I could give him some tips on how to increase the word of mouth that his clients give on his behalf and perhaps help to bring in more referrals.

Listen to the recording of my conversation with Ryan or read the transcript below to learn what I suggest he does and how he can use his clients as his sales force.

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You Don’t Need to Be Better – You Need to Be Different

As Steve Jobs said, ‘Don’t do something better, do it different’. Facebook wasn’t necessarily ‘better’ than Myspace, it was different. Netflix wasn’t ‘better’ than any other movie-rental system – it was different. Make yourself authentic and you will succeed. Find out what it is that differentiates you from the competition and communicate it to prospects and clients.

Concentrate on developing superb soft skills and you will stand out in a crowded marketplace without trying to be ‘better’ than anyone else.

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5 Signs That It’s Time to Let Go of a Client

5 Signs That It’s Time to Let Go of a Client

Signing up a new client – any client – feels like an achievement, especially for new advisors. Keeping money coming in is after all the number one priority. Over time however you’ll find that you have two types of clients: Clients you actively look forward to speaking to i.e. those who are pleasant to do business with, make realistic demands on your time, and are fully onboard with your ideas. And then there are the others – the ones you come to dread dealing with.

As a financial advisor you should aim to only work with clients who are enjoyable to deal with and profitable. It’s not only acceptable to prune out bad clients – but essential to keep your business healthy.

So how do you know when it’s time to let go of a client?

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How to Develop a Repeatable Process

How to Develop a Repeatable Process

If you want to make your life easier and become a truly elite advisor, make sure you have repeatable processes in place. This especially applies to tasks such as prospecting, presenting, following up and servicing your accounts. Remember: Repeatable processes produce repeatable results so make your goal consistency, not perfection.

In this post we’ll look at some practical steps you can take to incorporate repeatable processes into your working life.

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To Be The Best Financial Advisor You Can, It’s Essential to Challenge Yourself

Challenge Yourself To Be The Best Financial Advisor You Can

There are two paths you can follow in your career: One that goes uphill or the easy one, which involves simply getting through the day. Not many people take the steepest and hardest path, which is why so few really achieve success. But if you’re prepared to challenge yourself and commit to hard work, practice and persevere, you will maximize your talent and do what unsuccessful people are not willing to do.

So, step out of your comfort zone and start creating your own success story. Here are a few important self-challenges.

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