For many advisers, prospecting is a task that majority tend to procrastinate even though they know they need to it. They also use various excuses for why it is so challenging. I hear them from 90 percent of my clients.
Babe Ruth said it best when he said, "Never let the fear of striking out get in your way."
He was known for hitting home runs and for many years was called The Strikeout King. He struck out 1,330 times in his career, but that didn't deter him from taking the next pitch. In other words, he knew the value of giving it his all by continuing to swing for the fences.
If you are not sure how to keep swinging, or incorporating prospecting activities into your day, the following strategies will help get you on track.
Strategy No. 1: Prospect Early in the Day
Start your day off by making prospecting calls. You can't succeed if you don't get up to bat.
Josh M., a veteran financial adviser wanted to take his business to the next level. Typically, he would plan out his daily schedule making prospecting the last item on his to-do list. After placing prospecting as his first task of the day, he rapidly started placing people into his pipeline.
Strategy No. 2: Focus on Each Call
Focus on each call, all that matters is what is in front of you at any one given time (just like Babe Ruth did with the pitches).
Like most advisers, Josh was told from day one that prospecting is a numbers game, the more people you call, the more success you will have. While that is partially true what he didn’t know was that by slowing down and focusing on a current call, he could increase his success ratios even more. As Josh’s professional coach, we role-played increasing his listening skill sets and being more present on each call using a technique called “empathetic listening.” This process enabled the prospect to know that they are being heard. By practicing this, Josh gained more confidence in establishing better connections with his prospects.
Strategy No. 3: Be Professional
Keep in good form by knowing what you are going to say. Map out a framework ahead of time and know how you will handle objections.
In order to increase the quality of Josh’s calls, we focused on a technique known as “framing the conversation” as well as four different ways to handle objections. It didn’t take long before he realized that prospecting like a professional means being prepared for prospecting calls and not to winging them. The quality of each conversation is more important than the quantity of calls made in a day.
Strategy No. 4: Know Your Value
Speak with confidence and never be afraid to strike out.
After a few weeks of starting each day prospecting, focusing on each call and being prepared by knowing what to say and how to say it, I noticed a transformation in Josh’s personality. He was actually enjoying making prospecting calls. His growing confidence was evident in his voice and that element was adding to his success.
Why Consistent Prospecting Works
Babe Ruth knew that stepping up to the plate, focusing on the pitch and putting heart into the game was the only way he was going to reach (or exceed) his potential. He didn’t let labels like being called The Strikeout King deter him his next time at bat.
The reason why consistent prospecting works is that it helps advisers hone in on current opportunities rather than past obstacles. The more you persist and regularly manage your prospecting efforts, the more success you will find. That can be a game changer!
If you would like a complimentary coaching session with me, please email Melissa Denham, director of client servicing.
Daniel C. Finley is the president and co-founder of Advisor Solutions.