There are numerous ways for an advisor to expand his or her client list, but approaching people you know might be one of the lowest-hanging fruit. However, approaching them in the wrong way will only end up in rejection. Bryce Sanders, President of Perceptive Business Solutions Inc. recently wrote an article for ThinkAdvisor on how best to approach people you know for business. According to Sanders, the first step is to identify their need and research the issue. For instance, if you’re talking with someone, listen carefully when they speak. You may realize they have a problem on their mind. The next step is to discuss the issue and demonstrate an understanding of it. You know there is something on their mind and as a friend, you are concerned. Try to “tactfully” draw it out. Next, assess their level of comfort or unease. They might be thrilled you spoke up or ask you to back off. The fourth step is to view the situation as a third party. Make a list of all the potential solutions or approaches to their issue. Then offer to do something for free. You could say it’s not the first time you heard about the problem and then connect your friend with a specialist at your firm. After you meet with the specialist, present your friend with a turnkey solution. If they say no, gently follow up.
Finsum:Bryce Sanders, President of Perceptive Business Solutions Inc. recently wrote an article for ThinkAdvisor on the best steps for approaching your friends for business, including identifying their needs, demonstrating an understanding, offering them free advice, and gently following up.