Business is all about relationships. My business coaching clients often struggle with relationship development. We get so busy with production we sometimes neglect deepening relationships with those involved in our businesses. Relationship development is simple, but not easy, but there is no need for financial advisors to over-complicate relationship development. A little focus goes a long way, so for 2011 consider this simple formula:
20/10/3
First, identify your top 20 client relationships. These are platinum relationships that fir your business model, they like you, and you like them. Develop a strategic contact plan for these clients. When will you call and meet with them? Commit to finding out more about them, and not just facts, but also the foundational life experiences and feelings that motivate their behaviors. Also build a list of potential client that they know, and plan to ask for introductions.
Second, build a list of your top 10 internal client relationships. These are people in your firm that can help you grow your business. Included would be assistants, those in other departments, home office support staff, management, branch employees, etc. This can also include vendors. Develop a plan to get to know these people better, and ask yourself how you can bring value to these relationships. Ask yourself how you can help them, and commit to meeting with them on a regular basis.
Third, list three people that are colleagues. This step includes advisors in your firm or possibly “competitors” – advisors with other firms with whom you enjoy a collegial relationship. Meet periodically to share sales, service, and practice management ideas.
Building better relationships always results in more and better business. Follow this simple formula to make 2011 your “Year Of The Relationship.”
Good selling!
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