Get Your Year in Gear “A 12 Week Campaign for Your 2012 Strong 1^st Quarter Launch”

12 Key Strategies for Your Success

More Profit in Less Time, with Less Stress and More Joy

Welcome back, for Week 8

Set up and run a Productive Center of Influence Program

In speaking with Financial Advisors over the years, as well as with other consultants and coaches in recent months, many have reflected that a major of their most important business can be trace back to 3-4 key relationships, from which an abundance of referrals and new business development opportunities flowed. Challenge is, which 3 or 4 relationships might that be?

I first heard that kind of idea in 1989, from Paul J. Meyer, Founder of Success Motivation Institute. Over the years, I have experienced the truth of it and continue to wonder about it. A hunter type person, from back in the day, once said it to me this way: “you got to consistently get a lot of squirrels and rabbits before you can get to the elephants”. Not especially my way of expressing it and I think you get the idea. If we are talking about hunting, I prefer the fishing minnow/whale analogy, if you know what I mean.

This really got driven home to me when I was part of a team of about 12-13 coaches for Financial Advisors, back in the late 90’s. During one of our Reflection and Planning meetings, I January of that year, we were reviewing what worked and what didn’t work for our clients. As best as I remember, for those few coaches who started a Center of Influence Business Development Program approximately 18-24 months and carefully maintained the management of it, they reported bringing in an additional $30-60 million dollars in Net New Assets from the previous 12 months, that they attributed to the faithful implementation and follow through of that program. Well, that got my attention, big time and I never forgot it. So then I wondered.

If that worked so great, why weren’t more Financial Advisors applying and diligently following through on that strategy? I discovered several main points, of which I am sure there are others.

#1) A Center of Influence needs to be more clearly defined, For example:

• A Center of Influence could a person who is influential in a particular field/profession.  This person knows a lot of people and is well respected in the community.  The goal in developing your Centers of Influence is to have that person “take you under their wing.”

• A Center of Influence could be someone you are already friendly with, the goal is to have them act as a mentor, to help you take your business to the next level. They will give you referrals because they want you to succeed.

• Centers of influence may or may not be existing clients.  If they are not currently your client, remember the goal is not to get their business but the business of the people they know.

#2) Next, as a Financial Advisor, you need to have a believable vision and a doable, sustainable system/process for themselves that they would be inspired to commit to and follow through on.

This goes back to Napoleon Hill, Think and Grow Rich 101 – that is:

“Whatever your mind can conceive and believe, it can achieve”

In an industry that has been so heavily conditioned, for decades, to operate from month to month or now, from quarter in quarter, in many cases, this is a major mind-set shift, especially when most of the culture of the industry, and many of its firms, are pulling so strongly in that direction.

To have that inspired, compelling vision, to develop a pool of 10-13 Centers of Influence, over a 2-3 year period, that could yield 3-4 lasting relationships, which could bring an infusion of Net New Assets from target markets and select demographic groups, demands persistent patience.

Reminds me of the story of the Bamboo Tree, from which one of my successful clients nicknamed himself “The Big Bamboo”, as he continues to grow his business from this process.

The Miracle of the Chinese Bamboo Tree

I’d like to suggest that in everything you do, you keep in mind the miracle of the Chinese bamboo tree. After the seed of this amazing tree is planted, you see nothing, absolutely nothing, for four years except for a tiny shoot coming out a bulb. During those four years, all the growth is underground in a massive, fibrous root structure that spreads deep and wide in the earth. But then in the fifth year the Chinese bamboo tree grows up to 80 feet!

Many things in life are like the Chinese bamboo tree. You work and your invest time and effort, and you do everything you can possibly do to nurture growth, and sometimes you don’t see anything for weeks, months, or even years. But if you’re patient and keep working and nurturing, that “fifth year” will come, and you will be astonished at the growth and change you see taking place.

So, to paraphrase one of the greatest leaders of the 20th Century, Winston Churchill, we must “never, never, NEVER give up!”

#3) Once you get your vision and your determined commitment in place, what are you going to do from here? My experience is that it takes dedicated effort to set up and consistently implement such a program, with all the support you can access and muster. It is beyond the scope of this brief newsletter to detail out what system/process could work best for each of you. I recommend finding a mentor or coach, who has effectively done this and has helped many others to succeed.  (click here for an initial Centers of Influence Action Plan)

#4) As I learned in recent years from a trusted colleague, here is a simple 4 point agenda for approaching Centers of Influence for an initial meeting (hereafter, COI). It is simple and straight-forward and can help to leverage your best source of new business, which is satisfied clients.

1. Want to learn everything you can about that particular COI, their practice and who their practice/business is structured to serve – and you want to tell them that that is what you want them to do. How do they want to be understood and best be served?

1. And then you want to share about yourself, your business and who your practice is best structured to serve – and you’ll find common points of interest there and commonality and make connection points there.

1. Identify ways you can collaborate – in which you can add more value to your prospects or clients than you can on your own – if they were you, how would they proceed? that may come in the form of providing referrals, conducting joint seminars, meeting clients/prospects, face to face, newsletters, etc. Look for what you can manage and fulfill.

1. Once you have found those points of collaboration, then set next step time frames and action items to help develop both businesses – how will we operate going forward – what will you do? What will they do? To organize seminars, to set app’ts, etc.

Click here for a simple letter one of our woman advisors used to get a series of appointments

Additional Bonus suggestion – recommended book/reading?

http://www.amazon.com/s/ref=nb_sb_ss_i_0_20?url=search-alias%3Dstripbooks&field-keywords=effortless+marketing+for+financial+advisors&sprefix=effortless+marketing%2Cstripbooks%2C356

Effort-Less Marketing for Financial Advisors by Steve Moeller

Use a 5-Step Process to Transform Your Business–and Your Life! If you’ve ever yearned for a business that would energize rather than drain you, if you’ve ever known and admired someone who made financial services look easy and fun, then you’re ready to learn a new way to market. A way that doesn’t require so much of your time and energy. A way that requires less effort. Effort-Less Marketing is based on author Steve Moeller’s extensive research and refinement of the best strategies to build a financial advisory practice. You’ll toss aside conventional, exhausting sales techniques for a newer, easier way. With these 5 steps, you’ll take the guesswork out of reaching the wealthiest and most enjoyable clients, make referral-gathering a no-brainer, and completely revitalize your business.

Assuming that you are committed to beating the odds, this is all worth a conversation, yes??

That’s it for this week – yes, let’s talk again soon – best in coming days. See you next week!!

Get Your Year in Gear “A 12 Week Campaign for Your 2012 Strong 1^st Quarter Launch”

12 Key Strategies for Your Success

More Profit in Less Time, with Less Stress and More Joy

Welcome back, for Week 7

Set up a consistent and systematic marketing program – overall design

Marketing – our future rises and falls to the degree that we are masterful and successful in this arena – I’ve always love the definition and the challenge provided by 50+ books Guerilla Marketing author Jay Conrad Levinson – “marketing is the truth made fascinating”

We’ve all heard it – getting to the right people at the right time with the right message and the right services. I think we also know that there are hundreds of ways to approach this – in fact, you can visit our comprehensive workbook here, titled, “Create a Low Cost Marketing Engine”.

And here’s the main point that I want to communicate with you, after thinking about this further over the last couple of months – determine 2-3 strategies that you can set up and follow for the course of at least the next 90 days (or even one year), that you can develop depth, mastery and momentum for all of your marketing efforts. My conclusion is that nothing beats the following 3:

• Speaking, via 15-20 minute “sweetheart talks” following by a 5-10 minute Q&A.
• Referrals from both Centers of Influence and Delighted Clients, who become advocates
• Strategic Alliances and Networking

For the most part, these are personal contact, face-to-face strategies and processes, which all other marketing methods, like social networking, newsletter of all kinds, articles, emails, etc can feed into, fuel and support. Our goal is to create a funnel that propels your marketing engine.

#1) Public Speaking as a Marketing Tool? I always loved Toastmasters where “I get to practice like I’ll play” – well-organized and professional – see if you can find a fun club to test drive and develop your talks. www.toastmasters.org – and speak to whom, where? How about:

• Rotary Clubs and other Social Service Clubs are always looking for brief Guest Speakers
• Conferences and Association Meetings, along with your own mini-workshops
• “brown bag” luncheon office visits, at places where your potential clients gather/work

#2) Referrals? To be covered in much more detail, in one of our upcoming e newsletter issues.

#3) Strategic Alliances and Networking?

An idea for healthy Strategic Alliances? Check out The Alliance-Ability Checklist and this book

And a biggie for Networking? Business Network International (aka BNI) – you must know this?

www.bni.com – the World’s Largest Business Networking Organization

And I am sure that you’ve discovered & utilized many other methods and resources. Let’s talk!!

Additional Bonus suggestion – recommended book/reading?

one last FYI, that might be helpful – a different discipline and business, with similar principles

http://www.amazon.com/Million-Dollar-Referrals-Perpetual-Seven-Figure/dp/0071769277/ref=sr_1_1?ie=UTF8&qid=1319664677&sr=8-1

Million Dollar Referrals: The Secrets to Building a Perpetual Client List to Generate a Seven-Figure Income [Paperback] Alan Weiss (Author)

Editorial Reviews

Product Description

Build a million-dollar business out of untapped referrals!

Alan Weiss has taught thousands of people how to put their expertise to work through consulting, speaking, and coaching. Now, in Million Dollar Referrals, he takes it to the next level, giving you the tools to leverage relationships with current clients—and grow your business exponentially. Million Dollar Referrals reveals Alan Weiss’s powerful system for cultivating relationships and generating more business than you ever thought possible. Learn how to:

• Build sincere, trusting relationships with current and past clients
• Tailor your referral requests to the personality of the client
• Identify opportunities to communicate the value of your services
• Stay in touch throughout the year—with everyone
• Build a repository of references, testimonials, and other referrals in writing (or on video)

About the Author

Alan Weiss, Ph.D., founder of the Summit Consulting Group, Inc., is the recipient of the Lifetime Achievement Award of the American Press Institute and an inductee into the Professional Speaking Hall of Fame. He has also been named a Fellow of the Institute of Management Consultants. Weiss has written more than 500 articles and 40 books, which have been translated into nine languages, including his bestseller, Million Dollar Consulting.

Assuming that you are committed to beating the odds, this is all worth a conversation, yes?? J

That’s it for this week – yes, let’s talk again soon – best in the coming days. See you next week!!

Get Your Year in Gear “A 12 Week Campaign for Your 2012 Strong 1^st Quarter Launch”

12 Key Strategies for Your Success

More Profit in Less Time, with Less Stress and More Joy

Welcome back, for Week 6

Have exceptionally delighted clients and a system for delivering/managing that

Several months ago, I delivered a presentation (available here), titled:

Retaining and Developing Your Best Clients

(Click the above to download the Word document.)

Its basic purpose?

• to retain your best clients and have them be raving fans as a result of exceptional service

• to expand the size/value/worth of those relationships and attract promising, ideal referrals

The goal for that presentation?

• To create a system that meets/exceeds client’s expectations and leaves them delighted
• Determine frequency/nature of communications, so you can measure and manage well

Your intended system would cover 5 basic areas:

• Client Segmentation
• Developing the Client Experience
• Client Communication Plan
• Client Education Plan
• Client Appreciation Plan

Focus is systems. You set up systems, work the systems and the systems work for you. SYSTEMS?

• · Save
• · Your
• · Self
• · Time
• · Energy
• · Money &
• · Stress

Obvious leverage and greater ease, yes? And from a number of years ago, I also created a workbook.

Click here for the DELIVER A ‘WOW’ PRACTICE Workshop – a whole different set of ideas

Talking about systems – you must have read Michael Gerber’s seminal book on this topic, yes?

The E-Myth Revisited: Why Most Small Businesses Don’t Work and What to Do About It by Michael E. Gerber

In an article by the Wall Street Journal titled, “The Best Advice Around, By Those who Took It,” posted November 14, 2011, the E-Myth Revisited book is listed as the top business development book for business owners looking to actually implement change in their businesses. Here it is:

http://www.amazon.com/-Myth-Revisited-Small-Businesses-About/dp/0887307280/ref=sr_1_1?s=books&ie=UTF8&qid=1329353278&sr=1-1

but how about this??

An additional Bonus suggestion, in that light and recommended book/reading?

The E-Myth Financial Advisor – Michael E. Gerber (Author), Michael Steranka (Author)

http://www.amazon.com/-Myth-Financial-Advisor-Michael-Gerber/dp/0983500150/ref=sr_1_1?s=books&ie=UTF8&qid=1329353423&sr=1-1

5.0 out of 5 stars Outstanding and Must Read for Financial Advisors, July 22, 2011

By J. Cumrine (Loveland, CO)

This review is from: The E-Myth Financial Advisor (Hardcover)

“I know, there are about a thousand books out there on creating a successful Financial Services practice. However, Michael Steranka is a genius when it comes to building a practice. Having only been in the business for about 20 years, Mike has figured it out, and he’s passing that information along to us. I have been fortunate to work a little closer to Mike with one of the companies we both belong to and I can tell you that he is a wealth of knowledge and is eager to help. Will this book solve all of your business practice problems? Probably not. But if you put these strategies and practices into play within your own financial firm you will see a dramatic change for the better. Definitely a must read for financial advisors.”

On a final note – you a reader/student of Michael E. Gerber’s books? If so, why not talk?

That’s it for this week – yes, let’s talk again soon – best in the coming days. See you next week!!

Get Your Year in Gear “A 12 Week Campaign for Your 2012 Strong 1^st Quarter Launch”

12 Key Strategies for Your Success

More Profit in Less Time, with Less Stress and More Joy

Welcome back, for Week 5

Develop & lead a championship support team – creating “ win-win” everywhere

So much could be written about the power of teams and synergies and already has. This newsletter will be unique, in coming to you with several guides attached and sample ideas. My suggestion to you is to sit with your teams and take the best and leave the rest.

To begin, let me cite from the book, The Discipline of Teams, which helps small groups implement the disciplines, frameworks, tools, and techniques that enable performance.  With detailed guidance and dozens of indispensable exercises, they present a regimen proven to improve performance and help groups adhere to the Six Basic Principles of Team Discipline:

1. Keep team membership small
2. Ensure that members have complementary skills
3. Develop a common purpose
4. Set common goals
5. Establish a commonly agreed upon working approach
6. Integrate mutual and individual accountability

Next, click here for our 9 STEPS TO A CHAMPIONSHIP SUPPORT TEAM Workbook.

1. Eliminate – negative, miserable and incompetent employees

2. Fabricate – an organizational structure

3. Orchestrate – systems for everything

4. Motivate – recruit, train, motivate and retain your team

5. Indoctrinate – share your vision with your team

6. Delegate – as much as you possibly can, except the responsibility!

7. Congregate – make it a priority to listen to your team regularly

8. Compensate – your team well and institute a group performance bonus system

9. Educate – develop the skills of your team

Next, click here for a Team Meeting Guide. (to optimize your team meeting dynamics)

Finally, click here for a sample team letter, to announce the growth of your team.

Additional Bonus suggestion – recommended book/reading?

http://www.amazon.com/Smart-Trust-Creating-Prosperity-Low-Trust/dp/1451651457

Smart Trust: Creating Prosperity, Energy, and Joy in a Low-Trust World by Greg Link & Stephen M.R. Covey (Jan 10, 2012)

Here we go again – another great book to fuel the fires of actually being more effective and happy. After listening to series of lead in, beta testing development calls for this book, it is now here, in audio and in print. My 20+ year affiliation with all things FranklinCovey has never disappointed me – ever – and this latest release continues to add to their momentum and their right-on-the-mark relevance. You must see for yourself. At least, as an appetizer, order the cd, for less than $10, and make your own determinations. Let me know. Obvious common sense?? Maybe. Obvious common practice?? You tell me. Possible to master?? Well, let’s see…

And I’d be remiss not to at least give you a heads up – more to come.

That’s it for this week – let’s talk again soon – good luck in the coming days. See you next week!!