Develop a prospecting mindset

We are in the prospecting and promotion business. The most successful people in this business are not necessarily the best salespeople, they are the best search engines. Why? Because at the end of the day … we seek discretionary income. We are looking for successful professionals who have money to save and invest.

 

Collecting acorns

“Now early in your career, it’s imperative that you call everyone and everyone until you’ve built your client base, which is the foundation of your practice. Then you can start ‘sifting and winnowing’ and just focus on prospects from quality. and customers. This increases the efficiency of your business and is necessary for long-term success. ” However, in the early years, if they can “blur a mirror” then they are a prospect for you. Metaphorically speaking, you have to treat each new customer like an acorn. You are not sure which of those acorns will grow into a successful large oak tree. Some will be successful, some will not. But we don’t have a crystal ball that lets us know which ones. Therefore, it is imperative that you collect as many acorns as possible in the first few years. Now, you can always look for people who have better potential than others as you begin to qualify each prospect. But don’t discriminate too much in the beginning because people may surprise you later in life. “A new client is very similar to a lottery ticket, you never know what you are going to get. That person could prove invaluable to your practice over time.” The ideal goal would be to produce 100 lives each and every year and get 50 new clients to maintain a very healthy and successful practice.

 

Prospecting is based on beliefs

“Prospecting is built on beliefs. Effective prospectors believe they add value to their clients and deserve to be presented favorably.” Therefore, when requesting favorable introductions, you should do so with extreme confidence. If it seems like you are “asking for referrals” or is uncomfortable asking, then your prospect or client will feel uncomfortable referring you because it shows a lack of faith in yourself. “Prospecting will instill confidence in yourself and your ability. Having enough good quality leads is the difference between a ‘scarcity mindset’ and an ‘abundance mindset’.” Think about the difference in mindset during the sales process. A financial advisor who has very few referrals or “prospect cards” has a scarcity mentality. How does that affect the advisor throughout the sales cycle? Well, the advisor who has very few people to turn to to walk through the sales process with a fragile “porcelain egg.” In other words, this scarcity mentality results in them being unreliable on the phone, not challenging prospects during search when appropriate, not asking directly about the business during closing, and ultimately not asking for referrals. additional for fear of losing business. prospect or business. In essence, the advisor is “walking on eggshells” throughout the entire process.

 

What about the advisor who has a large pile of prospect cards to call? Well, this advisor has an “abundance mentality”. There is trust throughout the sales cycle because that advisor is not afraid to disconnect from the potential customer because there are so many people to call. This advisor is empowered to make three objections over the phone, challenge prospects, and directly ask the prospect to act last because they have nothing to lose. They benefit from having the ability to use the most powerful word in the financial services business … NEXT !!!

There is an astonishing difference between the mindset and the sales process of these two consultants. Having a steady stream of good quality leads gives you an “abundance mindset” and ultimately gives you the confidence you need to be successful.

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