How Advisors Can Strategically Acquire Clients

Each month, I’m sent questions by subscribers to my newsletter. Thinking you might find the answers helpful, I’m answering this question on my blog.

Question
I know I need a niche. I also need more best clients. Where do I start?

Answer
As I learned the hard and very expensive way, if I do what I’m doing and it’s not working, doing it more and working harder will get me the same results and will affect my health and well-being.

Over time, I’ve seen personal and business reasons a client isn’t where they want to be – client acquisition wise. You may already know about some things you read in this post, and other concepts may be new. But know that all of it affects the growth of your firm!

Your business model affects your clients more than you think, as does your confidence, energy level, mindset, and so much more. If you’re needy with clients, burnt out, not sleeping well, not playing or resting enough, this will affect everything about your business. You might not see it but, rest assured, other people — including prospects do.

Make more time for yourself and for the new business you want. (If you need help with the “live better” part of your life, I’m a trained Life Coach and can help there, too.)

On the business side of life, here are my 5 Steps to Strategically Acquiring Clients process — simplified.

• Take 2 steps back. Assess what you have.
• Determine what you really want from your firm and clients. Create a strong vision. (If you don’t have a clear and concise vision, go here:http://www.coachmaria.com/
• See what’s missing. Often, it’s learning new skills, concepts, and systems – including niching, creating an ideal client profile, segmenting your client base, determining customer service levels for each niche, and looking at the services you offer now and want to offer. It also could include updating your client on-boarding process, looking at technology, hiring an on-boarding assistant (virtual or in your office), revamping how you’re networking, and determining and simplifying your marketing strategies — all in an effort to attract more ideal clients and, over time, work less to bring in new clients. YOU want to attract clients and run your business by design, not default.
• Strategize and create a new game plan to gain a higher level and better base. (My clients use a single-page system for planning and a single-page for a 90-day sales plan).
• Execute your plan. Tweak where necessary.

A big mistake, in my experience, is to ask all your clients for referrals. Even with the best referral system, if you aren’t clear about whom you want to work with, or you ask everyone for referrals, you’ll just get more of what you’ve been getting.

Remember the adage that goes something like: “You hang out with people like you.” Only use a referral process with clients who are your “ideals” or when you are clear about the clients you want to attract.

Bottom line, you can continue to do what you’re doing to get clients or start the process of changing the way you run your business.

Here are a few resources to get you started:
1) Introduction videos 
2) Niching Article  
3) Strategically Acquiring Clients http://coachmaria.com/financial-advisors-book-more-clients/

(c) 2013, Updated 2018 ElevatingYourBusiness