Episode 5

Prospecting to Your Passion

In this episode, you’ll hear about prospecting to your passions and how that helps build your business with like-minded clients. Phil and Greg discuss how keeping in mind your hobbies, interests and core values when prospecting for new clients will help grow your practice organically and ensure its longevity. 

Key Points:  

  • Phil and Greg discuss “prospecting to your passion,” or making connections with those who share the same interests as you. 
  • Identifying shared passions before connecting to a prospect creates a more seamless transition into a meaningful conversation. What are your passions or hobbies?
  • Legacy practice is a term for a long-term practice that continues after you’re no longer an active advisor. The three things that separate good from great advisors are: Who are you in front of? What is the team that you build around you? What client experience do you provide? 
  • Testimonial prospecting is when an advisor establishes an introduction based upon character traits instead of what they do. For instance, the question “what are the three things you like about working with me and my team?” This involves an emotional connection as well as highlighting who you are and what you stand for.
  • A Sea Captain Referral is a term for an introduction to someone who fits your client profile, involving these five components: income, occupation, assets, hobbies/interests and core values. If you match on two of the five components, Phil refers to this as a Sea Captain Introduction. 

  • Phil and Greg discussed developing an ideal client profile, or your target market. This is the ideal client you are pursuing to grow your practice. A clear client profile helps you position your services and balance your resources to reach the right people, target your message and tailor your overall client experience.

  • Finding the ideal client prospect involves beginning with your best clients in mind and considering demographics, assets under management, services needed, hobbies or passions, media they follow and their values. Identifying these attributes will help you zero in on the right prospects. 
  • Adapting a CEO mindset involves your team and carving out time to focus on client experiences and events. 
  • From a marketing and branding perspective, you can also brand your business in a way that attracts like-minded people. What is your branding strategy?


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The Sea Captain Way

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