Selling financial services as a [tag]financial advisor[/tag], [tag]stock broker[/tag], [tag]insurance agent[/tag], or [tag]banker[/tag] involves six critical factors to be successful – long term. Short term success is possible without attention to these “Critical Success Factors,” (CSF’s) but long term success requires proficiency on a regular basis in each area. The CSF’s include:
- Prospecting
- Sales Approach
- Presentation
- Answering Objections
- Closing
- Service
Nothing revolutionary here; these topics have been taught since the earliest days of sales training. However, today many firms neglect basic sales training, and we always benefit from a reminder to step outside ourselves and objectively examine our business. Let me ask you a few questions:
- Are you weak in one or more CSF’s?
- Do you pay attention to and seek to improve each factor?
- Do you continually evaluate yourself and your business?
If you are new to financial product sales, or if you are experienced, consider reading my book, The Ultimate Small Cap Business; Building A Financial Advisory Practice. This concise book provides a comprehensive overview of financial service selling and practice management. Look for future posts to provide tips for each of the Critical Success Factors of Sales.
Good selling!
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