10 Reasons Why YOU Want to Choose YOUR Clients.

It’s a costly and hard-learned lesson in the advisory business: saying “no” to an interested prospect who does NOT fit your ideal client profile. It’s counter intuitive to refuse business, but the fact is, if you take on any and every client who wants to use your services, it may cost you money, aggravation, and time.

Keep in mind, your ideal client should fit five criteria.

The clients you want to serve:

a) Will have done their homework and are ready to hire,
b) Don’t haggle with you about price because they value what you’re offering,
c) Come back when they need you again,
d) Are your biggest fans who send you testimonials without asking, and
e) Automatically refer you to others

It's all about choosing your niche and sticking to it.

As in any industry, advisors have a hard time being jacks of all trades. It makes the most sense to specialize in a particular type of client—high net worth, for example, or small business owners or Generation X and Y investors.

The alternative is that if you don’t choose a niche, you’ll constantly have to learn the ins and outs of serving many types of clients—perhaps a broader array than is practical. For example, you may find yourself cramming to familiarize yourself with many different industries, marketing segments, consumer profiles, business owner levels, and so on. While that’s a nice change of pace once in awhile, it will drive you nuts (read: waste time and energy) if you constantly operate this way. More importantly, you won’t become known as an expert in anything and will constantly be reinventing the wheel.

Here are 10 reasons to limit yourself to one niche or one type of ideal client:

1. You’ll learn and master the communications that perk up their ears.

2. You’ll attract new clients as you construct a better marketing funnel with relevant free articles, newsletters, blogs etc.

3. You’ll be more confident speaking in front of your prospects.

4. It’s easier to create new products for your clients (and new revenue streams for your business).
5. You’ll use your networking time more strategically.

6. You save money and convert more clients when you laser-focus your advertising.

7. Your ideal clients associate with others who are like them (which generates ideal referrals).

8. You’ll be happier working with people who value what you’re offering.

9. You’ll become known as an expert more quickly.

And the bottom line is:

10. Your business will be more successful and you’ll be paid more.

As an unstoppable business strategist and former Wall Street trader, Maria Marsala specializes in helping RRs and advisors increase their productivity and production. For 20 years on The Street, she helped financial professionals sell more bonds and secure loyal clients. Today, they attract higher-quality clients and grow their businesses to serve their lives – not the other way around. Uncover the areas of your business screaming for your immediate attention and those that deserve a big hurrah! Request Maria’s Empire Builder Kit (free) at www.ElevatingYourBusiness.com . Connect with Maria at www.LinkedIn.com/in/mariamarsala