Three Things Elite Advisors Love That Average Advisors Fear
Average Advisors get held back by letting their fear of performing certain essential tasks take control. Elite Advisors on the other hand have learned that with practice and perseverance it’s possible to actively embrace previously daunting tasks.
Here are three challenging aspects of their job that Elite Advisors are keen to take on, thus guaranteeing their success.
#1. Overcoming objections
Naturally, clients are entitled to their concerns and objections and overcoming them is a necessary part of the sales process.
Elite Advisors enjoy the challenge of overcoming objections. They understand that by addressing prospects’ concerns they are building trust; a trust that’s essential to them getting hired. They don’t fear objections because they have a process for dealing with them. Average advisors don’t have a process in place and find it difficult to respond adequately when faced with objections.
To become an Elite Advisor you need to turn objections and concerns into questions you can answer.
For example, when a prospect puts forward the common objection, “I already have an advisor” this is a statement you cannot answer. So, turn it into a question:
“So, if I understand you correctly, you’re saying that you are generally happy with your current advisor, and yes, I agree they are a great company. But nobody has the monopoly on all the best ideas. I have a great idea regarding your tax situation – would you be willing to hear me out?”
Learn the process of overcoming objections, and with enough practice, you will become proficient at it. Rather than fear objections, you’ll come to see them as an opportunity to open up the conversation and create a basis for starting a relationship.
Prospecting brings with it a considerable amount of inevitable rejection. It involves speaking to people who are not only strangers but who may also be cynical about being prospected to.
Nevertheless, prospecting is the cornerstone of an advisory business and a fear of prospecting on a regular basis is a big reason many advisors remain, at best, mediocre.
Elite Advisors have learned to love prospecting. By developing their soft skills to a high level, they’ve overcome their fear and see prospecting as a natural, integral part of the working day. Unlike average Advisors they distance themselves from what they’re selling so they don’t feel personally rejected when someone says ‘no’.
In contrast to average Advisors, Elite Advisors understand that one bad day doesn’t indicate failure. That if something’s not working, they need to look at doing it differently next time to assure a positive outcome.
To help you become an Elite Advisor, try spending a day introducing yourself to every stranger you cross paths with. Or try putting yourself in situations where there’s a high chance you’ll get rejected. For example, ask for freebies when you get your car serviced, or ask for an upgrade at a hotel – things you wouldn’t normally do. If you get rejected, you’ll start to see that it’s not a big deal. If you do happen to get something for nothing, so much the better. The more you get rejected, the more used to it you will be, and the lower your fear of prospecting will become.
#3. The competition
Elite Advisors have a strong sense of their worth and truly believe they have something valuable to offer a prospect. That’s why they don’t fear the competition. They know their work ethic, motivation and superb soft skills set them apart from other Advisors.
Top Advisors know their value and understand why people should want to do business with them. They don’t dwell on what others have to offer, but have a target market they service to the best of their ability.
Average Advisors on the other hand worry that other Advisors are superior. They remain average because they’ve created a self-fulfilling prophesy based on irrational and negative fears.
If you start to believe that you are a positive force in your clients’ lives, and you make your service the most caring and comprehensive it can be, you have no reason to fear the competition. So, aim to identify a niche and work towards being the best in this area.
In order to become an Elite Advisor, you need to eliminate your fears and make key tasks more enjoyable. By developing repeatable processes and perfecting your soft skills, you will begin to love previously disliked tasks and assure the healthy growth of your business.
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