Advisors: Save money and time by clearly defining your niche

Design your entire practice around your niche; specifically around how you define your ideal clients — before you spend time and money on marketing materials, websites, or even attend a networking event.

 

Once you’ve chosen a niche and then zeroed in the specifics of an ideal client, everything else about your practice will support “who” your ideal clients are. That could include which the business model to choose, which services to offer, what people to hire, what are the best ways to market your firm off and online, which technology to purchase — and even what your office will look like.

Let’s look at one advisor and how “who” they worked with really matters… down to the office furniture.
A few years ago, met with an advisors (a prospect for me) in their office. When they told me that they worked with military officer, I was pretty shocked and they noticed the look on my face. There wasn’t even a flag anywhere to be found! No red, white, or blue nothing. No magazines of interest to their clientele. Their office didn’t look like the clients who they were trying to attract. While they made many changes to the way they operate their practice and market their firm; what’s evident to people who walk in or walk by their office is that they work with the military. Fast forward a few years, their office is maroon, white, and navy blue.

Decisions, in all aspects of your firm, will be much easier when you have clear strategies, short and long-term goals, and a plan to get you there.

ACTION
1. If you don’t have a niche and ideal client profile, start one today.

2. If you have a niche and ideal client profile create clear strategies and goals to implement a consistent business. From the time a client sees your front door; to the way you operate, to how your team works together. The “who” you work with should be evident. Watch this business training video (free).

3. You want your marketing to be consistent with who your ideal client is. Are you a member of organizations where your ideal clients are? Are you partnering or affiliating with other business owners who share the same ideal client with you? Are your workshops topics, blog posts, newsletters, and other marketing collateral directly related to the pains and solutions your ideal clients are looking for? If you think so, it’s time to ask your staff for their honest answers to those questions and for suggestions about how you can best grow your firm. It’s easy to get back on track if you’ve jumped over the “who” of “who are your own ideal clients”.

Are you ready to accelerate the growth of your firm? Ready to streamline your firm's operations? Build a bigger, better business. Get it all done before you know it when you work with me personally along with other advisors. Get feedback, guidance, and accountability! Read about BAR! Our Business Accelerator Roundtable is a very affordable and comprehensive consultative-coaching program. Read more...

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