What do you bring to the table?

It is probably easy to articulate your value proposition. But convincing clients to choose you over other advisors can prove to be challenging, especially if you are pitching the same wares as they are.

Even though your value proposition might be unique and differentiates you from the pack, you must be careful that it is not be too narrowly focused. Otherwise, you might end up attracting clients who are mostly part of a niche that might not necessarily be large enough to build a viable business. 

At the same time, your value proposition cannot be too generic or broadly-focused so as to put you in the same camp with other advisors who might have a similar vision. If this is the case, you will have to get in line with them to attract new business.

Therefore, when crafting your value proposition, it is imperative that you have a thorough understanding of the needs and values of the clients you are planning to serve. Otherwise, what you bring to the table might not be sufficient to meet their expectations.

It is also imperative that you focus on cultivating relationships with your target clients in order to gain their trust and confidence, which can go a long way in landing their business.

When pitching what you offer, you must recognize that your team is one of your biggest assets. This includes all staff who each has a role in ensuring that your practice functions efficiently and effectively. In fact, getting the most from your team is integral to the success of your practice. Incidentally, when your team is at the top of its game you will be able to climb new heights.

You will therefore have to take on a leadership role and be the catalyst for your team. Remember that motivation comes from the top so it is your job lead by example. You should also be your team’s coach which will be reflected in the service they provide to your clients.

To get the support of your team you must earn their trust and confidence and cultivate loyalty by being true to your word, just as you would expect them to be to you clients. Staff must know their roles and responsibilities and be aware that they will be held accountable for their performance. Make sure they know what to expect from you and what you expect from them.

The success of your practice is predicated upon all team members working toward a common goal which must be well articulated and communicated to then.

Periodically, you may have to tweak team responsibilities to improve efficiency and productivity. So do not hesitate to make changes, if necessary. Remember, increasing overall productivity of your practice will require a team effort.

Putting measures in place to ensure that your team functions like a well-oiled machine will relieve you of time-consuming administrative burdens and free up your time to concentrate on what you do best, that is, serving your clients well and growing your practice.  More important, when your team functions well you will have the confidence that you can deliver on your promises and meet the expectations of your clients.