Prospecting

It All Begins Here

Prospecting 101:

Objective:  To build a constant list of people you can talk to regarding the business opportunity and the services you offer. It is an all-the-time activity to build your business. 

There are many ways to prospect. Feel free to use multiple methods. The following are three of the preferred methods that we use.

Warm Market

DEVELOPING YOUR WARM MARKET

As a new associate, you need to see the value of your warm market, which is made up of your family and friends. Think of talking to family and friends as part of your “rebranding” process. By talking to your warm market, you’ll learn how to get people who have known you for some time, to begin thinking of you as a financial professional.

Talk with your trainer about ways to use your natural market to develop your prospect list. Use the tools to the right to get started. Remember, treat this list as a “who-do-I-know or know-of” list.

Referrals

It's Not Who You Know, But Who They Know

Relationship marketing is one of the keys to your long-term success. Referrals will provide you with an endless supply of prospects. As such, you will want to stay referrable over a lifetime.

Two keys that help you accomplish this are by the way you handle client transactions and by continually adding value to your clients. Handle all transactions with superior client-service. A well-structured process is very important here. Be a resource to your clients and others. Continue bringing your advice, wisdom, and other resources to the relationship. 

 

Prospecting

Prospecting is a Mentality, Not a Skill

The core of prospecting is simply expanding your warm market. We do it frequently without even thinking about it – we turn strangers into friends. You may think you are too busy to have more friends, but this is the lifeblood of your business.

Your objective in friendship farming is to do what it suggests, develop friends. As you do, through that friendship you can invite or obtain referrals (see steps I and II). You will also know them better and know what their needs and wants are, and how you and the company may be able to help. 

Be sure to practice friendship farming techniques with people in the office. As with anything, there are tactics that work and others that don’t work so well, but ultimately it takes some practice.