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Practice Management > Building Your Business

What do million-dollar producers have in common?

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In their book “Tested in the Trenches,” authors Ron Carlson and Steve Sanduski say there are 10 things typical million-dollar producers understand should have top priority in their practices:

  1. Reviewing client goals and objectives, managing assets and conducting research. This should be your main concern.
  2. Communicating with A+ clients. Your top clients want to stay updatedm whether that’s by phone, e-mail, direct mail or face-to-face meeting.
  3. Staying fit. It’s hard to do business if you’re sick all the time.
  4. Staying sharp. Spend time on continuing education and stay on top of new laws, strategies and products.
  5. Cultivating A+ referrals. You have to let your clients know you want referrals. Train them to spot referral opportunities, and make good referrals part of your compensation.
  6. Deepening A+ and A relationships. Spend time with good clients in non-business situations by taking them out to lunch, or playing a round of golf together.
  7. Developing centers of influence. Look past obvious centers of influence like CPAs or attorneys and try the head of your Chamber of Commerce or a leading local philanthropist.
  8. Planning. By planning your day. week and month ahead of time, you’ll stay focused and productive.
  9. Delivering A+ and A client solutions. Explain your recommendations and respond to client questions. Help your clients through crises to build enduring relationships.
  10. Meeting with staff. Regular meetings with any staff members will help reduce interruptions and keep the office moving efficiently.