The self-referral conversation play. Whenever you meet a stranger at a business function, holiday party, networking event, charitable event or some other venue, you have the opportunity to ask meaningful questions about them and discover a potential ideal client. Do you? Or do you engage in superficial chitchat about sports, hobbies, the weather and politics only to arrive at your office on Monday wondering where your next new client is going to come from, not realizing how many potential clients you met in the past week, but squandered the opportunity? How well scripted is this play in your playbook? Have you practiced so when you are in the game you are ready to execute successfully?
The follow-up phone call play. However you meet prospective clients, the initial follow-up will almost certainly be a phone call. Do you know how to make this contact all about them so it does not sound like a solicitation for your services and/or products? Do you have a script in your playbook for making an effective follow-up call? How's your execution?
The initial client interview play. This is a crucial opportunity that you cannot afford to squander. It's the turning point for whether someone becomes a client, especially an ideal client. What questions do you ask? How well do you listen with empathy? How effectively do you align your offer to be hired with their goals and values? How articulately do you answer the common client question, "What do I get, and how much does it cost?" How well scripted is this play in your playbook? Have you practiced so when you are in the game you are ready to execute successfully?
The plan and advice creation process play. After you are hired, the most important work begins. You now have the opportunity to exceed your new client's expectations. How does the plan get created? Who are your subject-matter-expert partners who help you write the plan, design the asset allocation, reduce taxes, determine appropriate insurance coverage in all areas of risk management, meet estate planning objectives and cover all the important legal bases relevant for this client? You must have great resources because the reality of the limits of time mean that you can't possibly do all of this by yourself. The quality of your advice will ultimately determine clients' loyalty and their receptiveness to introduce you to their friends, family and colleagues who might also meet your ideal client profile. How well scripted is this play in your playbook? Have you practiced so that when you are in the game you are ready to execute successfully?
The implementation meeting play. Notice this is called an implementation meeting and NOT a "plan presentation" meeting. The implementation meeting is vital for the client because having a plan does not move them toward their goals. Implementation is the key to getting results. Just like thinking about exercise will not make a person physically fit, having a financial plan is not what actually produces the results. Implementation and action rule when results are the goal. Do clients leave your office overeducated and confused, needing to "think it over," or do they leave feeling relieved and confident because they just acted on your advice, so they are moving toward the achievement of their goals by their target dates? How well scripted is this play in your playbook? Have you practiced so that when you are in the game you are ready to execute successfully?
The progress meeting play. Notice this is called a progress meeting and not a "quarterly or annual review." The purpose of this meeting is to discuss your clients' progress toward their goals rather than have a discussion about events outside of everyone's control such as the market, the economy, politics or world affairs. Your clients should leave your office feeling empowered and in control of their financial life and the achievement of their goals. How well scripted is this play in your playbook? Have you practiced so that when you are in the game you are ready to execute successfully?
These are some of the fundamental plays of your professional life. Unlike having a coach who calls these plays, you either make these calls or life just serves them up as opportunities for you to recognize and capitalize on.
What else do you need to execute well in order to achieve your goals, in business and in life? How long into your career and your life before you are ready to execute like a pro when the plays are called?
Yes, life and business are like a football coach. The plays are called and it's your job to execute. Are you ready?