I was sitting in a meeting recently with a group of local business owners. This group meets every so often to talk about the various issues the members are having and brainstorm solutions to these problems. An issue that seemed to be all but ubiquitous to this group of entrepreneurs was getting potential clients to understand what exactly it is that their business does. One member had been trying to explain her business to a referral for over a year, with little to no progress. After some discussion, our group came to the consensus that creating clarity was of the utmost importance.
YOU AND ONLY YOU
If there’s anything that I’ve learned during my tenure as a financial planner, it’s that no one will ever be as passionate or as knowledgeable about your business as you are. It is very important to keep this in mind when dealing with potential clients. What seems simple and exciting to you may be complicated and boring to your referral. Think of it this way: if they understood what you do and were as passionate about it as you were, they wouldn’t need you in the first place! It is your love for your business and your expertise in your field that is going to convince them to do business with you. It is your passion and knowledge that will lead to great results for your client and hopefully, additional referrals to others.
EXPLAINING THE BENEFITS, NOT THE BUSINESS
A simple mistake that business owners often make is attempting to explain the business to a potential client instead of simply explaining the benefits of working with that business. For example, patients don’t care about the way the medicine they are taking works, they are only interested in feeling better. People who buy ice cream aren’t interested in the ice cream making and distribution process, they want it to taste good and make them feel good. As a financial advisor, I mainly focus on financial instruments like life insurance policies and other investments. I rarely bring these instruments up with potential clients unless asked about them. Why? Because I want to focus on the goal of my services: financial freedom. That is what I want my potential clients to understand. They don’t have to be an expert in finance, they only need to know that I will work as hard as I can to help them achieve their financial goals.
IN CONCLUSION
Potential clients do not need to know the ins and outs of your business. They will never be as knowledgeable or as passionate about your business as you are…and that’s okay! What IS important is that you make them understand the benefits of doing business with you. By doing so, you will build better connections with clients and grow your business with your hard work.
If you have any questions about creating clarity with your business or would like to speak with me about any other topic relating to business and finance, please give me a call at 352-322-2205 or send me an email at shawn@freefinancialneeds.com. I would be more than happy to talk with you about how we here at Peak Financial Coaching can help you. We are also always on the lookout for guest speakers for our weekly Free Time Tuesday presentations. Let’s connect today!
