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How many times have you heard “maybe,” or “I’d like to think about it,” even from your most qualified prospects? Most advisors take the safe route and accept those responses at face value, hoping that follow-up will eventually lead to a commitment.
The idea is that if you’re persistent enough, stay positive, and outlast the competition, you’ll win their business through sheer endurance alone. But let’s be honest, is this really the best way to get new clients?
More often than not, this approach can backfire on you. When you let your prospect end the meeting without making a decision, the dynamic shifts, and they hold all the leverage.
Suddenly, you find yourself chasing, and seeking their approval on your insights, recommendations, and ultimately, your value. This not only stifles the growth of your business, but erodes the trust and authority required for a successful advisor/client relationship.
Your best chance to onboard a new prospect isn’t weeks later after they’ve spoken to three other advisors. It’s in the very first meeting you have with them.
Clinging to the hope that a “maybe” will somehow turn into a commitment doesn’t serve you or them. It simply allows your qualified prospects to walk away without having their problem solved, leaving you without a client – a losing situation for both parties.
From now on, your job isn’t to hang on until you hear a yes. It’s to focus on uncovering the truth of whether or not you can truly help them and get a clear decision in the first meeting.
This is where many advisors get it wrong. They’ve been taught to identify their potential clients' challenges, immediately take them on as their responsibility, and set out to prove to the potential client they can solve those problems. But this creates a huge issue.
You’ve accepted responsibility before they have. This leads to confusion, as they can’t be sure if they want to take the next step with you, since they don’t fully understand why they need you. It’s the assumption that prospects know their problem that creates a world of trouble in your sales process.
Take a cue from another kind of expert
Doctors don’t make this assumption. When someone steps into their office for the first time, they don’t rush to take on the patient's problems or try to prove their worth over time. Rather, they follow a step-by-step process of diagnosing the issue, explaining its gravity, and helping the patient fully grasp the reality of their condition.
Only then do they introduce a plan for treatment. If the doctor knows best from the start, why is this all necessary? Because if a patient doesn’t accept their illness, they’ll never accept the medicine. This approach eliminates indecision, and builds trust while keeping you in a position of authority.
The first decision you need to help your potential clients make isn’t whether they will work with you. It’s whether they’re finally ready to “own” their problem once and for all.
If they’ve accepted their problem, and trust you to solve it, the sale will happen naturally as the next step without any pressure or hesitation. However, if they don’t have a problem you can fix or aren’t willing to admit their problem is serious enough to take action on, you’re free to move on. After all, there are other patients in the waiting room.
If you follow this process, not only will you hear yes more often and more quickly, you’ll no longer beat yourself up over the "no" responses that you receive, knowing you did everything you could to lead them to the truth.
You can let go of the need to prove yourself, and never again let the hope of a maybe lead you into long and unprofitable sales cycles that drag you and your business down.
If you’re ready to let go of your old mindset and learn how to build deep trust with each new prospect, get your complimentary books and consultation below.
Ari Galper is the world’s No. 1 authority on trust-based selling and is the most sought-after high net worth/lead generation expert for financial advisors. His newest book, “Trust In A Split Second” has become an instant best-seller among financial advisors worldwide – you can get a Free copy of Ari’s book here and, when you click the “YES” button in the order form, you’ll also receive a complimentary “plug up the holes” lead generation consultation. Ari has been featured in CEO Magazine, Forbes, INC Magazine and the Financial Review. He is considered a contrarian in the financial services industry and in his book, everything you learned about selling will be turned upside down. No more chasing, no pressure, no closing.
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Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives.
