Of course it is true, because you have spoken with someone who knows Joe really well and who has his best interests at heart. That's how you get your referrals; you don't just call anyone. So when Joe affirms what you've learned about him, you can continue.
The reason for my call is that your uncle and I recently sent you a book. I know you're busy, and I'm offering to spend just a few minutes with you, to help you explore how some of the concepts in that book could help you make smart decisions about your money, and put you in a position where you can spend even more time with your family on the water.
Just so we're clear: You're not going to explain your services, provide your credentials, or suggest a financial strategy, all of which would meet the FCC definition of a telemarketing call. Instead, you are offering to spend a few minutes with someone who is dear to one of your clients, helping him to get something personally useful out of a gift from his uncle. As long as you make this the entire aim of your call, it is not a sales call. It is not telemarketing in any way, shape, or form.
The pragmatist in you may be asking how on earth you are supposed to generate new business by calling people and discussing the concepts in a book with them. It's so simple: When the 15 or so minutes are up, based on what aspect of the book you discussed, there is a next logical step. You would discuss what that is at this time.
If you have provided valuable assistance, and Joe wants the services of a financial professional, then there's a natural next step: Joe will ask you if there's the possibility of a professional relationship. That gives you the permission you need to talk about how you could work together in the future.
And if Joe doesn't recognize your value or have an interest in going to the next step, no harm done. In fact, even if Joe doesn't get it yet, you've probably helped him, and at the very least had a pleasant conversation. All of this builds goodwill for your business, so it's a no-lose proposition.
3. Therefore, you shouldn't be treated like a telemarketer.
Some financial pros I know are running scared mostly because company compliance departments are issuing stringent rules so that the company does not get fined. Admittedly, they are within their rights to do so; if the company has genuine financial advisors mixed in with salespeople masquerading as financial advisors, it has to regulate to the lowest common denominator. One fellow I know told me once that managing a large financial firm was like having a neighborhood swimming party: You watch all those kids splashing around and having a good time, and you just know somebody's peeing in the pool.
Operating under this charming business analogy, companies are requiring that before advisors call anyone, they must get permission first. But if you are a trusted advisor working for a company like this, I have some advice: Get out now. Stop swimming in someone else's mess. Move to another firm. Go to work at a place where the rules are created for people who do business the way you do.
© 2004 by Bill Bachrach, Bachrach & Associates, Inc. All rights reserved Bill Bachrach is the author of four industry-specific books, including his newest book, It's All About Them; How Trusted Advisors Listen for Success. For more information about his services or to order his books, call (800) 347-3707 or visit the Web site, www.bachrachvbs.com.