Building Bridges
by Duncan MacPherson

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He revealed an interesting technique used by Burns Steakhouse, a Tampa-area restaurant. According to my driver, after a limousine chauffeur or cab driver drops someone off at Burns for an evening, they proceed around back where they’ll receive a free steak dinner. Now think about this for a second. You’re in your hotel and you’re hungry. You’re not interested in the hotel’s restaurant fare, so you head out and hail a cab. You ask the driver, "Where could I get a good meal?" Where do you suppose you’ll end up? Burns Steakhouse!

From what I hear, Burns is a great restaurant. But rather than relying solely on word of mouth advertising from their clientele and basic magazine advertisements to attract new customers, they’ve decided to align themselves with a group of "influencers" in the marketplace whose endorsements are persuasive enough to generate a significant amount of business.

As a financial advisor, you already know that some of your greatest influencers are existing clients, especially those who own their own businesses. That said, the following are three great questions you should ask your entrepreneurial clients the next time you speak with them. The results will amaze you.

1. Have you got anything you can give me?

At the end of a meeting or phone call with a business owner, ask them to give you business cards, newsletters and brochures. Tell them that you meet a lot of people, and if you meet someone who could use their service, you’ll pass along information about them.

2. What do I need to know about your business so that I can recommend you to someone?

Like a flower in the sun, business owners open up to people who show a sincere interest in their company. Let’s say you have a dentist client by the name of Phil McCavity who has a unique approach called Sleep Dentistry for Nervous Patients. Ask him to describe that process to you. He will find you so fascinating.

3. How would you describe your Ideal Client to me?

Let the business owner explain who he or she is looking for so that you will only send someone who is predisposed. Curiously, most people will respond by asking you about the kind of clients you are looking for.

So make a list of the people in your inner circle of clients who can have persuasive impact on their own clients, and consider the following suggestions. For example, ask your golf pro if he would like to cooperate on a luncheon event called Keep Your Eye on the Ball. Hold it in an area club house. The pro will provide the golf tips, and you can talk about global investing. The invitation can feature a graphic of a golf ball beside a globe. Prior to teeing off, have a picture taken with the pro and each participant, and include it with the thank-you card to each participant following the event.

Another effective tactic is to help your accountant orchestrate his or her own Client Advisory Council. Or create a monthly morning breakfast network featuring yours and his/her interested clients. (Some advisors apply this philosophy when prospecting business owners. The advisors will actually offer to buy an hour of their time just to get the opportunity to meet with the prospective client.)

As you will quickly discover, any respectful offer to bring value of any kind to a business owner is a powerful gesture in and of itself that will not go unnoticed. The maxim which states that "giving starts the receiving process" really is bang on.