Summary of Business Pathfinder Podcast Episode: Ep. 32: Communication Matters
— Description —
Blaine's firm, Progress Wealth Management, targets late-career tech professionals and founders through SEO, Dave Ramsey leads, and LinkedIn prospecting Despite facing challenges due to his age and appearance, Kristin suggests that Blaine's age could be an advantage in connecting with young tech founders She advises him to attend events to build relationships with potential clients and continue targeting both smaller and larger clients
Blaine emphasizes the importance of providing personalized and expert advice, understanding client goals, and effective communication He faces challenges in attracting larger clients but focuses on delivering high-quality service Kristin emphasizes the importance of language and communication style in sales, especially with business owners and entrepreneurs
It's crucial to consider clients' stress and perspective, ask questions, and be open and honest about feedback Self-employment often requires more than 10 hours of work per week and may create a sense of scarcity.
Ep. 32: Communication Matters
Key Takeaways
Leverage Your Age to Connect
Young Solo Practitioner Delivers High-Quality Service
Communication Style is Crucial in Sales
Stop Making Assumptions, Start Asking Questions
Probe deeper into their personal and professional life
Challenge Your Relationship with Money
Seek Honest Feedback to Improve
Be Direct, Record Conversations, Show, Not Tell
Embrace the hustle, self-employed warrior!
Key Takeaways
- Blaine's firm, Progress Wealth Management, targets late-career tech professionals and tech founders through SEO, Dave Ramsey leads, and LinkedIn prospecting.
- Blaine faces challenges due to his age and appearance, but Kristin suggests that his age could be an advantage in connecting with young tech founders.
- Kristin advises Blaine to attend events to build relationships with potential clients and continue targeting both smaller and larger clients.
- Blaine emphasizes the importance of providing personalized and expert advice to his clients and focuses on understanding their goals and why those goals matter to them.
- Effective communication and understanding the specific needs and preferences of the audience are crucial in sales, especially when dealing with business owners and entrepreneurs.
- Self-employment often requires more than 10 hours of work per week, especially in the beginning, and individuals may feel intense pressure to acquire clients and a sense of scarcity.
Leverage Your Age to Connect
- Blaine's firm, Progress Wealth Management, specializes in late-career tech professionals and tech founders.
- He has successfully marketed through SEO, targeting tech professionals, and using Dave Ramsey leads and LinkedIn prospecting.
- Blaine is uncertain whether to focus on smaller clients or transition to targeting larger clients due to a decrease in income compared to his previous job.
- He faces challenges due to his age and appearance, as potential clients may not take him seriously despite his extensive experience in the industry.
- Kristin suggests that Blaine's age could be an advantage in connecting with young tech founders and encourages him to attend events to build relationships with potential clients.
- She also advises him to continue targeting both smaller and larger clients to maximize his business opportunities.
Young Solo Practitioner Delivers High-Quality Service
- Blaine emphasizes the importance of working smarter, not harder, and believes in providing personalized and expert advice to his clients.
- Blaine faces challenges in attracting larger clients due to being a young solo practitioner, but he focuses on delivering high-quality service and personalized attention to his clients.
- Blaine highlights the drawbacks of working with larger firms and emphasizes the benefits of working with a dedicated advisor like himself.
Communication Style is Crucial in Sales
-
- Blaine focuses on understanding the client's goals and why those goals matter to them, rather than just their retirement age.
-
- Blaine's direct approach may not resonate with all clients, especially smaller fish who may need a softer communication style.
-
- Kristin suggests that language and communication style are crucial in sales, especially when dealing with business owners and entrepreneurs.
Stop Making Assumptions, Start Asking Questions
- When trying to get someone to agree to a second call, it's important to consider that if they feel defensive during the first call, they may be less likely to show up for the second call.
- Clients may already be experiencing stress in various aspects of their life, including their business and finances, which can affect their willingness to engage in further discussions.
- Instead of making assumptions about how clients are feeling, it may be more effective to ask questions to better understand their perspective and address their concerns.
Probe deeper into their personal and professional life
- Asking about their goals and getting to know them.
- Inquiring about their family and their career.
- Transitioning to discussing how they've done things.
Challenge Your Relationship with Money
- Some personalities may be more empathetic and less motivated by mistakes and control.
- Concerns may arise regarding clients feeling scared or stressed about their finances.
- Clients may leave conversations with advisors feeling uninformed or overwhelmed by financial considerations.
Seek Honest Feedback to Improve
- When reaching out to potential clients, it's important to be open and honest about why the deal was lost.
- In this case, the feedback received was that the client preferred someone who was more direct and to the point.
- Effective communication involves understanding and catering to the specific needs and preferences of the audience.
Be Direct, Record Conversations, Show, Not Tell
- I can be an asshole sometimes. Yes. I can be very nice sometimes too.
- Be yourself, like the directness in those conversations that you're having with the larger audience. The succinctness, the humor, you have that too, I can tell.
- Maybe even a conversation you could record, sort of like I'm doing here with you, this coaching session, you could record conversations with people that have money questions where you blur them out. That could be a really great opportunity for you to have some candid conversations about money.
- Show, not tell. That's a good idea.
Embrace the hustle, self-employed warrior!
- People transitioning from a big company to self-employment may feel intense pressure to acquire clients and a sense of scarcity.
- Contrary to popular belief, self-employment often requires more than 10 hours of work per week, especially in the beginning.