Ever have this conversation? You get an injury. The doctor fixes you up, saying “You will need to do these 10 exercises every day for the rest of your life.” You have been made whole again. You are thrilled. Committing to doing certain exercises daily is a small price to pay. It’s the same with prospecting.
Prospecting is an activity many advisors thought they didn’t need to do. Can it be outsourced? Can I grow my business strictly from referrals? You need to be proactive. So when does prospecting work best? Regardless of your chosen method, these guidelines should apply.
1. Do it daily. You brush your teeth every day. You don’t say “I’ll skip a few days and catch up on Friday.” Prospecting should be a daily activity.
2. Do it early. Get it out of the way first thing. The day is a blank canvas. Nothing has happened this morning to ruin the day.
3. Do it elsewhere. It’s easy to get distracted by the Internet or a ringing phone. We might time block, but we come up with reasons to get off track. Working from the conference room or swapping desks with another advisor should help focus your attention.
4. Shut your door instead. Maybe you don’t swap desks. Close your door. Tell your assistant (hopefully you have one) not to interrupt you except for orders needing to be placed. If your assistant is registered, they can handle that too. If you were at an office meeting, you wouldn’t be pulled out every time your phone rang.
5. Keep score. It’s logical to keep track of calls with potential, but sometimes you don’t have any! Lets assume you were calling small business owners. How many dials? How many live people, not voicemail? How many owners themselves? How many appointments? The call you make today might get a call back a week or a month later. That counts for something.
6. Do it when you are pumped. The market is having a good day. It’s up a lot. You are excited. This is the time to make those calls. People will sense the enthusiasm in your voice.
7. Do it when you have a great idea. You really believe in this idea. It’s great! You think it solves a problem. That’s when you call. You might start with clients where it might be a good fit. Once they are as excited as you are, you can ask, “Who else might like to learn about this idea?”
8. Do it when gatekeepers are elsewhere. This might be lunchtime. Before the office day starts. After hours. Increase your chances of getting through to the right person. If you are messaging on social media (and it’s allowed by your firm) there are studies showing some hours are better than others.
Prospecting should be a daily activity. There are ways of optimizing your efforts.
Bryce Sanders is president of Perceptive Business Solutions Inc. He provides HNW client acquisition training for the financial services industry. His book, Captivating the Wealthy Investor can be found on Amazon.