I had a client who completed an implementation meeting but was not very effusive about the benefits of our work together so far. She is an elderly lady who is very passive and doesn't seem to have many friends she hangs out with. She sticks with mostly family who are all broke.
Maybe. But, as a rule, I don't buy it. If you want to let them off the hook and blow off the referral process, that's your prerogative. If you do, my prediction is that it will become one of many reasons why you let different clients choose whether or not they participate for different reasons. My advice: all in.
I'm going to start cold calling companies in my area to try and present the Ideal Life Group Presentation to their employees during their lunch break; a 'lunch n learn.’
I've come up with a basic script to use when making the initial call and I was hoping if you could run your eye over it to see if you think it would be OK or if you have any suggestions.
Don't make cold calls. Ask your clients to introduce you to people who make decisions and approach them by referral.
I could really use your help with how I can go get clients without firing my Ideal Clients who don't give me 100 referrals or cold calling a list of people from my organizations that I do not know.
I have 10 Ideal Clients, all of which all are previous clients. Frankly they are just now seeing the benefits of the difference between the Old World and New World as we added a lot of value and met regularly in the Old World. I have received referrals from almost all of these clients in the Old World. I am getting new referrals from these Ideal Clients, but not 100-200 per client. I am only getting one to two per referrals per meeting, per client. I understand the ‘In or Out’ theory, however, I don't have the financial freedom yet, to fire all 10 of my Ideal Clients if they don't give me 100-200 names.
You should not have to threaten to fire them for them to be excited about introducing you to everyone they know who could benefit from knowing about Values-Based Financial Planning™ and you. There is a HUGE amount of room between the two extremes them being reluctant to refer you to everyone they know or ending the relationship. Operate in the "space" between those 2 extremes. Follow the script / process, go deep, and ask the question, "with whom would you like to share the gift of inner peace, greater marital harmony, and more confidence about the future?" (Fill in the blank with what your client told you is their emotional payoff of working with you.) If they can't think of anyone or only offer a couple of referrals, ask, "Let's go about this from a slightly different point of view. Let's consider everyone you know and discuss why they should NOT have Values-Based Financial Planning™ put in their world. I see you brought your phone. Open your contacts to 'A' and tell me the name...
I have an Ideal Client who has given me referrals but has not contacted the referrals for permission to send the books, newsletters, and follow-up call. What’s the conversation to have with the Ideal Client so that they will follow through and contact the referrals so that I can finish the process?
See page 5 & 6 of the Implementation Meeting Referral Conversation™ script and pages 5-7 of the Progress Meeting Referral Conversation. To locate the most current version of the scripts above, please login to www.committedadvisor.com and follow the path below: Home > Resources > The Referral Process Documents & PowerPoints > The Primary Referral Process You will see two (2) scripts under ‘The Primary Referral Process’ 1. End of Implementation Meeting Referral Conversation™ (Please review, specifically pages 5-6) 2. End of Progress Meeting Referral Conversation (Please review, specifically pages 5-7) Two questions I would ask about the referral conversation 1. Did they clearly agree to contact their referrals (soon) and get back to you about sending the book(s)? 2. Did you email them a summary with clear instructions (as outlined in the script) of what to say to each referral using the M.I.S.C. information you gathered from them about the friends,...
What is the email template to send to the client after a Referral Conversation that the client can use as talking points when calling the person they referred to prepare them for my Follow-Up Phone Call?
After the Referral Conversation at an Implementation or Progress Meeting, send an email with a summary of the Referral Conversation. In that summary will be a few key things that are important for your client to share with the referral during that introduction to you. These key things are listed below: (Template for what you, the advisor, are emailing to your client for them to introduce you to their referral) 1. That you have asked me to send them a copy of Values-Based Financial Planning… no strings attached. 2. The reason you believe that their knowing me and about Values-Based Financial Planning will help have some positive impact on something that matters to them. 3. How knowing me, and about Values-Based Financial Planning, has impacted you by . (insert the earlier, deep emotional response from your client about the value to them) 4. That I am not trying to sell them anything. 5. Something favorable about my character or personality. (Not something about my technical...
I wanted to get your feedback please on this email I received from the Chamber of Commerce, where I am a relatively new member.
The Chamber sent me a letter inviting me to a Trade Show. The invitation noted that the Trade Show was a great opportunity to display products or services, discover new businesses and network with other business people.
My questions to you are:
1. Would you attend this event?
2. If you did, would you attend it exclusively to complete Self-Referral Conversations™?
3. The invitation mentioned renting a booth to showcase your business – what is your take on this?
I was thinking of going to the Trade Show for the purpose of conducting Self-Referral Conversations™ with business people. I am not sure, however, about the idea of having a booth at an event like this.
Sit down with the President of your Chamber and have a real heart-to-heart conversation about the financial success of the members. Be very candid about the level of financial success a person needs to have to afford your services. ($2 - $10M of net worth or assets / $300,000+ personal income) Go down the member list and ask him / her to specifically identify those that he / she knows or believes have the level of income and / or net worth to meet your Ideal Client Profile. If the there are enough of them, ask the President to advise you on the best way to meet the people you really want to meet. Generally, high-end professionals (like the best Financial Advisor in Calgary and one of the best FAs in the world) are not "hanging around" the Chamber of Commerce. Nice people... but typically not Ideal Clients. So, unless your specific market research states otherwise, RUN! (Absolutely not a booth!)
I am a little frustrated at the present with the referral conversation in the Progress Meetings. In most of the referral conversations I am getting good emotional responses to the work we are doing and clients have noticed the change from the old service. When we get to the referral conversation, however, I am finding it difficult to get the clients to introduce me the people they know. I have used a lot of the responses you have coached recently and none seem to be working. (It could be that I am not delivering this right). However clients seem to understand what we are doing, (i.e. not soliciting) but still will not introduce me to anyone. It seems to be their view that they are all around the same age and all sorted out and have been with advisers for a very long time.
I am coming to the conclusion that, given that my client base is mainly post-60 years of age and not working, maybe this is the way they think. I know that, in your eyes, they would not be Ideal Clients anymore but I am now concentrating more on the self-referral process which is a harder way to go but better than me continuing this process with my clients. I am very interested in your comments.
People who don't refer are not Ideal Clients. If you choose to keep them as profitable non-Ideal Clients, that's your prerogative. The truth is that your clients don't really know whether or not their friends are "all sorted out." It's hard to read a person's mind and know exactly what they are thinking and feeling. My belief is that when a person is unwilling to refer and introduce you to others it's because they either don't trust you completely, or aren't all that impressed with the work you've done for them. That can either be because of them, or you, or some combination. My advice is to continue to make progress with the value you deliver for your clients, your communication skills, to have the referral conversation at every Progress Meeting, and do whatever else you have to do in order to meet people who might become Ideal Clients.
I have read all the FAQ's on the Centers of Influence. I did, however, have an additional question. When do we use the Business Plan? It seems like a valuable tool in this situation. Do we try to schedule a Financial Road Map® or a Phone Consultation™ first, and then resort to the Business Plan? We may have outworn our welcome by this time.
I'm not sure what you mean by "Centers of Influence" or your objective. If you are referring to working with accountants or lawyers you approach them about being vetted for your Deliverables Team, not as referral sources. In which case, you follow the process delineated by Mark Little for building your team. We do not believe in cultivating accountants and lawyers solely as referral sources. They can become Ideal Clients and then refer... just like all Ideal Clients. Or they can become Best In Class Subject Matter Experts on your Deliverables Team and based on how impressed they are with what you do for clients they might want to refer and / or become a client and refer. The 2-page business plan is mainly for your use, but might be used to further communicate with an Ideal Client who is struggling to understand how referring is in their best interest. This is not quite a last resort, but it's close. The webinars about "Cracking the Referral Code" that have been conducted over the...
During the Referral Conversation™, I am frequently met with the answer that my clients’ friends do not trust the company name from previous experience and that it has nothing to do with me. Sometimes the clients admit to being selective in regards to whom they would refer. So, I am wondering what would be best to say besides, "Why don't we let them decide for themselves?” or, “Let's follow the process.” I find that they are resistant because of the above factors.
"Refer your friends to Tracy Heichelbech, the human being. I will talk to them, human to human, about how the concepts in Values-Based Financial Planning™ will help them . This is not about First Command. First Command is not Values-Based Financial Planning™. This is about one human introducing a human to another human to do something good for them. Can you do that?" Don't include anything in the book that indicates you work for First Command. Just be a human helping humans.
I have put together a list of people I would like to meet; a Six Degrees of Separation list, but I'm not sure of the purpose of the list and where to go with it.
What script do I use to contact these people? I know some of them through Church, and others I have never talked to.
Am I approaching the people on this list to eventually complete their own Financial Road Map®, or am I wanting to meet them to tell them about the new direction of my business and asking where they feel I could meet potential Ideal Clients? Or am I trying to meet the people on this list for both reasons?
You do three primary things with your list: 1. During the Referral Conversations, you ask your Ideal Clients who they know on the list well enough to make an introduction. "Well enough" is defined as your client being able to give you enough MISC information so you can be properly introduced with a note on the book, etc. 2. You ask everyone you know who might know a person on your list if they can make a proper introduction. 3. You show up at places / events where you might meet one or more people on your list so you can implement your self-referral process with them and possibly others who might meet your Ideal Client PMARR at the same event.
I was just hired this week to work with a former professional (European, not NBA) basketball player. He does not have a lot of money, however he referred me to 3 current NBA players and a current college basketball coach of a major NCAA school. All 4 would qualify as Ideal Clients. All of them make between $1-6M / year income. One of the players is a veteran and has earned about $100M over the course of his career. My client is willing to help me meet these people. I spoke with my Accountability Coach about how best to pursue these referrals, and he suggested that I submit this question to you. Any recommendations?
I don't really see any distinction between these referrals and any other referral. Start by doing their Financial Road Maps with their spouses and all of their financial documents. The benefits to them of having a Financial Road Map® are the same as they would be for everyone. If, at the end of the Financial Road Map Interview™, you would like to invite them to become clients do that during Commitment to Hire™. Good luck!
During the Referral Conversation a client says....we have spoken to all our friends and they are taken care of. How would you respond. In my head the clients answer does match the question. I am offering to introduce people to Values Based Financial Planning™ and have a Financial Road Map® completed.
What do you mean by spoken to? What do you mean by all taken care of? Essentially just a little bit of clarifying and expanding will reveal that they perhaps are over explaining everything that you do. And you want to make sure that your clients are clear that all they're doing is introducing Values Based Financial Planning™, a copy of Values Based Financial Planning and a conversation with you. They are overreaching with this over explanation, and it's your responsibility to make sure that they understand that all they have to do is offer to send a book to people who don't have the book. It might be a good idea for you to have a heart-to-heart referral conversation with these people, because this may just be an avoidance tactic on their part to get out of participating in the referral process. Use your judgment.
Below is a correspondence between a client (Rafal) and the advisor. After Rafal had his Financial Road Map® and Action Plan completed he wanted to refer his friend “Slawek” . He wrote a note on the cover of the Values Based Financial Planning™ book, we were just waiting for Rafal to provide his address and let us know it was ok to send the book because he had not spoken to his friend. We received the response that he did not want to go ahead with it- Please read the correspondence below. Coincidentally, this was the second time this week that this has happened. We are hoping for some feedback to let us know how to handle this more effectively.
Client:
Hi,
I did talk to Sławek, but unfortunately he is not interested in getting any information related to financial services. He is already working with a financial planner that he is quite happy with.
Regards,
Rafal
Trusted Advisor:
Hi Rafal,
It is perfectly ok that Slawek has a current Financial Planner. To clarify my offer was not to become his Financial Planner, rather the offer was to give him the following gifts:
1. Values Based Financial Planning™ Book
2. 8 issues of our Values Based Quality of Life Newsletters™
3. Complementary 20 minute Phone Consultation
4. Create his Financial Road Map®
As we discussed, I believe everyone deserves to have a Financial Road Map® and know that Values Based Financial Planning™ exists. The purpose of the gifts is to provide value to Slawek and share your experience when we created your Financial Road Map® The benefits you mentioned were “…Very important, make better decisions, more focused, more relaxed about the future, start exercising, keeping healthy.”
It sounds like Slawek thinks the offer is to be his advisor. We are providing the gifts to share some ideas that could favorably impact his quality of life regardless of who his advisor is.
He mentioned he is happy, my job is to make people happier.
Sincerely,
Trusted Advisor
Client:
Hi,
Yes, I understand what you have to offer. Sławek is simply not open to this and there is not much that I can do.
Regards,
Rafal
This is excellent. You have a client who is participating in the referral process and making introductions. Apparently, not everyone they refer and introduce you to is going to be receptive to the introduction. So, who else can they refer and introduce you to? If each of your Ideal Clients refers and introduces you to 10 - 20 people and one or two of them become Ideal Clients you will build your Ideal Client Community. Keep up the good work
Bill, you talked about meeting with the Top Realtors in the area.
I have been calling them and starting the conversation with the following:
Hi_________, my name is John Smith. I am rather new to my area, and I am looking to expand my networking relationships with experts in the local region. As I was looking into the area of _________, your name keeps rising to the top. So I thought I would give you a call and see if you would like to have coffee and I could learn more about your business, tell you a little about mine, and see how we could help push each other forward to greater success.
They have all taken it like I was trying to sell them something, even after I explain that I am not selling anything and just want to get to know them and how they have become so successful in their area of expertise.
Please provide feedback on the script I have been using and help me wordsmith it so that I am starting the conversation or voicemail with the proper tone.
Normal 0 false false false EN-US X-NONE X-NONE Q: "If I'm new to an area and I need to do research to find out more about the market how do I approach successful professionals in the area to help?" A: "I'm new to the area and I'm building a high-end financial services firm for financially successful people. In doing my research about who the most successful (realtors, lawyers, etc.) are in the area your name keeps coming up. The purpose of my call is to schedule a business date for breakfast or lunch or a cup of coffee to learn more about this community and get your advice about the best ways for me to go about building my business. When would be a good time to do that?" If necessary, perhaps as the response to any trigger that feels like or sounds like sales pushback, "Just to be crystal...
I was at a private health clinic the other day getting an in depth annual checkup (as per your suggestion). I met with the Director briefly and was answering her questions about my experience and how the process is going regarding my health assessment.
She started asking me questions around my work, for example - how is your work is going? Is this a busy time for you? etc.
1. I wanted to create a script when someone asks me, “So how’s your work going,” other than just saying, “GREAT,” and the conversation ending.
Example – “My work is great, It is very rewarding being able to help successful people achieve their goals.”
2. What would you say to then PIVOT after answering the question, “how’s you work going?” ( I want to PIVOT and then ask a meaningful question about her ).
3. What is an opening question you would use after this PIVOT to continue the conversation down a more meaningful path to gather Meaningful, Important, Significant and Compelling information about HER.
Can you help with some scripting?
First of all, in this environment it's part of THEIR process to assess your stress level and the potential impact on your health. So... just relax and let them do their work to help you be healthy. What you're asking for not something new. Whenever you are asked a question, make your answer as short as possible and ask them a question that gets them talking about themselves. Example: Them: Dean, how's your work going? Dean: Great! Tell me something good that's happening in your life. And you're in. Then listen, clarify, expand, impact, follow the emotional trail, go deep, and - when / if appropriate - pivot to the offer.
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