Identifying potential Centres of Influence
Once your ideal client profile has been identified and their needs assessed, you can then identify possible Centres of Influence whether it is a divorce attorney, business valuation professional or mortgage specialist.
It is best to take a top-down approach, imagining your ideal client and the kinds of investments they make; then consider what professional advisers they would have working for them. Think strategically and outside the box.
Do not forget to capitalise on your existing clients and the value of the good working relationships you have with them. Chances are they will have business ties to the kinds of influencers with whom you would like to connect. Is it possible that they might be able to introduce you?
Arranging an initial meeting with your identified strategic partner has more to do with tact and how to broach the situation than the simple act of making the phone call.
It is important to bear in mind that Centres of Influence are approached regularly by people saying “I manage money, please refer your clients to me”.
If you are to secure a meeting with a potential Centre of Influence, you will have to go beyond your job description. Make it about them and their clients and the value you can bring to the mutual needs of both. Demonstrating that you are the person to solve their clients’ problems is the only way to set yourself apart from the noise of the crowd in this hyper-competitive market.
The biggest mistake you can make in cultivating a strategic partnership is to sell yourself, or to go into the meeting with an agenda to gain immediate client referrals.
The first meeting should be about getting to know the influencer better and the challenges they and their clients face. Once you understand their challenges you can start to give them the comfort that you can help to solve the problems they face. To build that comfort level, you need to find opportunities to demonstrate your three C’s: Competence, Caring and Consistency.
This can only be done over time through consistent contact and by showing how you can add value to their business.
Patience is a key virtue in this business of relationships. Too many people go in with the mind-set that you are trying to get a quick win out of one introductory meeting. But a true and enduring strategic partnership is built up over time as both parties come to know and trust each other.
During periods of time when your partnerships with Centres of Influence are not producing any results, you may be tempted to question the value – yet it is at times like these that it is essential you maintain the relationships and persevere, as you never know what lucrative benefits they might bring further down the line.
