It’s a lot harder to build a business if you focus on things you won’t do. Do you know another advisor or agent who says: “I don’t do business with friends?"
It’s likely they have their reasons:
- Things get sticky if something goes wrong and they lose money
- They think I’m on call 24/7.
- They don’t want to do business. If they did, they would have asked by now.
When people need something, many prefer doing business with someone they know. An advisor in New York said it best: “People may want to do business with you for a long time. The thing they haven’t figured out is why they need you.”
We can think of lots of reasons why they are hesitant. So, why are they eager? Here are seven reasons:
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Bryce Sanders
Bryce Sanders, president of Perceptive Business Solutions Inc., has provided training for the financial services industry on high-net-worth client acquisition since 2001. He trains financial professionals on how to identify prospects within the wealthiest 2%-5% of their market, where to meet and socialize with them, how to talk with wealthy people and develop personal relationships, and how to transform wealthy friends into clients. Bryce spent 14 years with a major financial services firm as a successful financial advisor, two years as a district sales manager and four years as a home office manager. He developed personal relationships within the HNW community through his past involvement as a Trustee of the James A. Michener Art Museum, Board of Associates for the Bucks County Chapter of the Fox Chase Cancer Center, Board of Trustees for Stevens Institute of Technology and as a church lector. Bryce has been published in American City Business Journals, Barrons, InsuranceNewsNet, BenefitsPro, The Register, MDRT Round the Table, MDRT Blog, accountingweb.com, Advisorpedia and Horsesmouth.com. In Canada, his articles have appeared in Wealth Professional. He is the author of the book “Captivating the Wealthy Investor.”
