Performance Tips

When you sit down to write your end of year charitable giving checks ask yourself a few questions:  

1. Why do I feel so good giving when I know I will receive nothing tangible in return?
2. How can I bring my expertise to this organization so they can elevate their services to others?
3. How can I get my family and team involved here so they see that making a difference is what really makes a life?
4. How can I structure my giving so it meets the needs of the organizations I support during the month/quarter versus just at the end of the year?
5. Am I giving gladly or dutifully?

By way of example, we have learned in our organization that cheerful giving and team participation is essential to our corporate health. We contribute each month to the causes important to us. Further, at the end of the year each team member is given an additional stipend to give to the organization of their choice. It has created a culture of purpose versus pressure, and service versus sale with our team.

Giving at any level brings fulfillment to the giver. Most importantly it gives those who give a sense of a bigger life.

Going to a holiday party may or may not create an open door for you. You may meet a prospect or simply be asked by someone for “your card” so they can get in touch.

1.   Do not give out business cards in these settings. It says subtly “I am here for business”, or worse, “I am what I do.”

2.   Do create and give out personal cards – a card that has your personal contact information such as:

• Name
• Non-business email
• Non-business cell phone number

As it is a personal card and does not relate to business, it positions you socially not as there to do or talk business.

3.   Set up a business conversation if you wish. Tender your “personal card” to those who have requested it or you have decided to connect with. If you want to set up the business connection, simply say, “Here is my personal card. Everything is on there except my office number.” Nine out of ten times they will ask, “Oh what is that number and what do you do?” This creates a perfect place to transition to a breakfast or lunch the next week to “introduce yourself professionally.”

Social settings require personal cards. Otherwise we think you are just there for business!

Warren Buffet was asked what is the best possible investment today one can make? His reply stunned the interviewer. “Invest in yourself!” Great insight yet rarely taken. In today’s complex and difficult environment what was right is no longer right when it comes to elevating business performance.

Ask yourself these questions, and then invest where needed to “get it right” for these times.

1. Is your unique value promise about what the consumer receives by doing business with you or is it about your products and services?
2. Are you targeting the right buyers, or are you trying to be all things to all people?
3. Do you have delighted advocates who bring new business to you or simply loyalty neutral satisfied customers?
4. Is your team working on purpose to deliver extraordinary value and elevated experiences or are they working under pressure to just sell more products?
5. Do customers recognize the real value you deliver or are your prices or fees in question?

Buffet is right – if you’re not investing in yourself to grow your skills and your business, how can you expect a greater return on effort?

“In times of change, learners inherit the Earth, while the learned find themselves beautifully equipped to deal with a world that no longer exists.” – Eric Hoffer

The new year is beginning to germinate in the minds of pro-active business owners. The challenge is always what should we be aiming for with all the uncertainty in the marketplace. What you are aiming to accomplish next year is important and critical in this environment. The danger is because of the current business environment you may very likely have a secret, unspoken set of goals and objectives. This “other set” is the accomplishments you will settle for!

Make no mistake, the excuse that you “need to be realistic” is just that – an excuse, a hedge. No, your objective should be big goals, then set realistic time frames to accomplish them. Thinking smaller or having goals you will settle for next year is the last thing you need or the country needs right now.

For Weylman Center members, take the course Making Your Vision a Reality.

To know or not to know! Recently I had a call from an advisor who was facing a dilemma. He had been referred to an individual who “was looking for new investment ideas” by a friend. He eagerly called this prospect, scheduled a luncheon to “get to know you.” The luncheon was interesting to say the least. The prospect told him he had $20 million in investable assets. He was unhappy where he was and wanted to move. The advisor was shocked. “I had no idea you had that much money” was his first response. He further dug a hole for himself by saying, “You are the type of client I want to build my business around.” This from a 10-year veteran in the business!

The prospect seized the moment and immediately said, “Let’s talk fees.” The advisor begged off until he could “put together a proposal for him.” His dilemma is how he should move forward with this individual.

1. He has to reposition himself and partner with an advisor who already has clients in this space.
2. He has to do a far deeper discovery of why the prospect really wants to move his account.
3. If it is not because of a desire for lower fees or for a higher level of service, he should then present a plan of action to solve, not a proposal to sell.

Some lessons to be learned from this:

1. Never ever see a prospect without first doing at minimum a Google search of the individual. For Weylman Center members, also go to the Community Research Lab and research their occupation or profession. Use the links there to discover issues the local association in their line of work or special interest group are facing.
2. First meetings should be postured as an opportunity “to determine if we can be a resource for you” versus just rapport building or getting to know you.
3. Always talk about what you can do for them as a result of your discussions, never what they can do for you! I.e., “build my future business with clients like you”, etc.
4. Adjust your mindset and see yourself as bringing value versus hoping for business.

In today’s volatile market and stagnant economy it is vital you have the confidence and strategies to elevate your business performance.

Check Your Performance Factors Here

Many are beginning to realize the right experiential event done in the right way can provide excellent access to prospects. Invited properly the right people can certainly improve your lead flow and opportunities for success. However, why is it that so many events hosted by financial professionals simply don’t pay off. At least at the level they should or that is hoped for. For charity success in experiential marketing it is not just having a great experience for clients and prospects. What you do after the experience is what makes it a success.

Every event needs a post-event strategy brilliantly executed. Specifically:  What exactly will you do to get a face-to-face with each prospect within 5-7 days after the event?

For help with putting on an event that pays: Download the PDF  Client Event Planning (Pre, Present and Post)

Listen to a special audio as Richard conducts a Quarterly Town Hall  meeting and provides straight answers to questions submitted by subscribers to The Weylman Center for Excellence in Practice Management™ / Marketing Support Center. 

Listen Here 

Podcast: Play in new window | Download

Volatile, chaotic, wild, unpredictable, all words to describe current market conditions.
However, the best descriptive word for an advisor is opportunity! This is an opportunity to solidify existing relationships and to enhance the value of your value!

Today you should proactively call your best clients and listen. That’s right, listen. Today is not just about what you have to say, rather it is focusing on both the economic and emotional security of clients. Call them and:

1.  Tell them “I am calling to first let you know I have been watching your account and tracking the market. However, before I get into any details I want to answer the questions and concerns you have!”

This empathetic approach enables them to connect and talk about security issues,both economic and emotional. After they have shared their issues and concerns.

2. Then always ask ” What else is concerning you right now?” Be quiet and listen.

3. Only after listening should you brief them on the world and process as you see it. Take your time and always summarize with “and what this means to you is…”

4. After your high-level briefing follow with ” What questions do you have?”

5. Finally close the call with ” What else can I do for you?”

This approach addresses many psychological needs of your clients. It provides them with a psychological connection to you for meaning, significance, structure and belonging, plus, of course emotional and economic security.

This is your time to shine. From this will come many opportunities to capture new clients from advisors who aren’t proactively calling their clients, “Because I don’t know what to say.”
Using the scripting here lets clients have their say, which is what really matters most.

Knock ‘em alive!

Richard