We achieve these results through a formula that I call S+E+A= Efficiency. When you think of the SEA of opportunities, I hope this formula will come to your mind. The more efficient your practice, the more profitable you will become.
Before we jump into how we market our practice and attract our ideal clients, we have to make sure we have created the business environment that will win them over. Clients are not looking for a big flashy office, a bunch of employees running around looking busy, or other things that may seem to be important. Clients are looking for one thing: trust!
This journey to creating trust begins the moment they meet you and your brand. How are you communicating your value proposition? Is it general or more specific to the transfer of knowledge you can offer? These questions and many more begin to set the expectations of prospects. If their planned experience does not manifest itself in your systems, then a potential client is lost. There will be no relationship established, and your business will have lost revenue to your competition. This is where I have seen a major disconnect within many advisors’ firms. They fail to see how important it is to examine what they are truly communicating and marketing to their prospects and determine whether they have established the environment to see that through.
When you have the proper systems in place, executing them becomes a very natural and fluid process. The key to executing them is internal communication. As the leader, you must clearly articulate your business and the roles played by each team member in great detail. Take the time to write out what you expect your employees to do, from how to answer the phone to how to respond to a client request. Trust is built on your ability to deliver what you said you would. Clients see what you say as a promise, so it’s important not to break it.
Lastly, you must have a system that can provide feedback on your business in real time. You must constantly look for feedback, so that you can improve. This has been the key to our firm’s success. If you do not check on your business analytics, you will find your business heading off course, leading to frustration and unnecessary expenses.