Many people believe that if you you focus on and specialize in a narrow niche that you’ll actually lose prospects and clients. Rid yourself of this myth and start getting another $2 million of assets a month.

It’s the most common self-defeating fear that holds advisors back from attracting at least two or three profitable referrals a month and adding $2 million of assets a month. They fear a niche will cost them business because they narrowed their pool of prospects.

Target a unique audience to build loyalty, longevity and referrals.  When you define your ideal client the way I have directed you in Part 2, you’ll find that your ideal client belongs to particular groups.

This blog continues with how to get a steady flow of profitable referrals. The keywords are “steady flow.” If you’re receiving a referral only now and then, this five-star system will increase you referrals to steady flow—about three or four more every month. (Read Part One.)

There’s only one thing that’s more exciting than getting a profitable referral. It’s getting a steady flow of them.

It would mean that you’d be able to market less and have more time for the things you truly love. You could also spend more time in front of clients or prospects. Or you could spend more time with friends and family.

Nothing feels better than getting a new ideal client from one of your current clients or a colleague. It’s a confirmation that you are recognized as a valuable service professional.

Good news! You’re your own boss. Isn’t it swell? You get paid by how much you work—how many great ideas you come up with. The more you work, the more money you make. No one is telling you what to do. No one is shooting down your ideas. You can do whatever you want. You can realize all your great ideas.

When you’re first starting out as an advisor you don’t have many clients. So you have time to market and prospect. You do it and your practice grows.

Then when you finally get over $20 million assets under management with over 100 clients, you find yourself stuck. You hit a wall.

Do you hesitate to ask for referrals out of concern that it will hurt the relationship with your clients? Or do you think it’s a waste of time?

Easy, Painless Cure for Public Speaking Fear

I just gave a webinar to help financial advisors grow their practice. I feel I did a good job. I felt comfortable and confident during the whole time.

Is time giving you fits?

Time, that precious commodity: you just have only so much time. You must make the most of it.

If you’re feeling strapped for time, it’s because you’re like 94.7% of financial advisors. You suffer from time fits.