It’s supposed to be easy – just do a few simple things:
Honor the golden hours: concentrate on prospecting and selling between 10am and 4pm
Select your target market
Work primarily with ideal clients in your target market
Prospect on a regular basis
Learn to be persuasive – that’s the key to success
In my coaching practice, I have discovered that advisors have significant impediments to successfully completing each of these tasks.
Those waning golden hours…
Without a well-crafted business and marketing plan, there’s a good chance you will not have enough prospects to generate adequate sales. That’s why it’s difficult to fill up the golden hours with prospecting and selling activities.
Your target market chooses you
Selecting your target market turns out to be very difficult when you discover that you don’t choose your target market — your target market chooses you. When multiple sellers have multiple solutions, it becomes obvious that the buyer, not the seller, decides which advisor to work with. How often have you wasted time and effort chasing poor prospects?
The solution to discovering your true target market is hidden in plain sight. Advisors need to do what all successful organizations do: conduct market research. Even if you understand this dilemma, what can you do about it? Successful companies have marketing departments; you probably do not. Fortunately, there is a two-part solution.
“AAA” ideal clients
First, use this general definition of an ideal client: The 3 “A”s. Your best clients seek your advice; they take action based on your recommendations; and they become advocates for you.