Business Building Tips for Financial Advisers - 7 Steps to Success With High-Net-Worth Clients

Are you hoping to make a strong six-figure or even a seven-figure income this year? Start by thinking about what it takes to succeed as a financial adviser with high-net-worth clients. Get on board with these 7 Steps and make this a banner year.

Step 1: Specialize in an area where you can differentiate from competitors and develop market dominance. Affluent prospects look for the best in a field when they need advice for solving complex problems. Build your business and your marketing effort around your greatest passions, strengths and expertise in order to create a unique specialization.

Step 2: Understand your market niche. Target the ideal market segment for your business. Without a target market you have no clue about how to make the best use of your resources. If you don't determine who is ideal for your service you'll end up spending a lot more money and time for a disappointing result. What's worse you could end up spending too much time on the clients you don't want and end up wearing yourself out.

Step 3: Create relationship value. Thank you, Strategic Coach, Dan Sullivan for your value creation model. Sullivan's model includes three critical elements in the value creation process-providing leadership with direction, offering relationship that assures confidence of achieving desired results and demonstrating capability by delivering creative solutions. In order to be successful with high-net-worth clients, trusted advisers must be adept at delivering value as an expert problem solver.

Step 4: Captivate then capture your target market. Captivate your market with a compelling and consistent marketing message. Capture the attention of your market niche by keeping your message focused on what affluent prospects want most.

Step 5: Educate prospects and clients. Savvy consumers want information but they crave wisdom and learning from their trusted advisers today more than ever. This brings huge opportunities to the forefront for street smart advisers. Not only are educated clients more enjoyable, they are more decisive and more profitable.

Step 6: Simplify everything. Affluent clients value simplicity and control. The more advisers can simplify and bottom-line their wealthy client's personal finances, the more likely they will value the advisory relationship. Trusted advisers must be able to provide clients with enough information to make an informed decision while endeavoring to reduce everything to the simplest terms.

Step 7: Systematize your business. The most important operations in an advisory business to systematize are marketing, sales, customer service delivery and maintaining client loyalty. Systems will save you time, energy and money. Automate everything possible so you can spend more quality face time with your affluent clients.

That's it. Now you know the seven simple steps that spell "success". I guarantee that implementing them in your practice will lead to more money and less stress.

Author, teacher and business coach Rebecca Stone is turning attorneys and financial advisers right-side-up with her Attorney Alliance Marketing System. This one of a kind system helps professionals get a steady stream of ideal clients at a price they can afford.

Check out my FREE resources for financial advisers at http://www.go2rainmaker.com/. Implementing just one idea could help you get more perfect clients.

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What Professional Women Want Now: 7 Confidence Building Moves for This Economy

The economy has made swift and sometimes harsh moves in the personal and professional life of many women. As a result, women can feel that their confidence has been shaken. But knowing how to look at the concept of personal confidence can make the difference between feeling stuck or adjusting and moving ahead. Here are 7 top tips for building your confidence even in a harsh economy.

1. Confidence is an Inside Job. Problems happen when you don't understand what it means to have confidence. It's often thought that confidence comes from what happens from outside of you. But the definition of confidence is having belief in yourself and in your powers and abilities. It's that simple. You are confident when you believe you have the capability to do something you want to do. That means confidence is something that comes from inside of you, not from what others give you from outside of yourself. One of the first steps to building your confidence is to recognize your personal strengths, abilities, capabilities and how you can use these to achieve what you want to do.

2. Confidence to Watch the Changes. Your confidence is stronger when you can anticipate what is to come. For instance, changes in the economy will shift the look of the world of work and business for many years. Take a realistic look at the need to match your skills and abilities to what will be in demand in companies and businesses so you can make the necessary shifts and adjustments. That might mean getting new training or switching industries so you are prepared to be a part of those changes.

3. Confidence to Fit Into the Trends. Keep up with trends so you know what type of changes are coming in the economy. For instance, jobs are being eliminated by the thousands in many industries while new jobs are being created. These might differ from what you are accustomed to seeing so start paying attention to the new job and business trends. Build confidence by knowing the trends and understanding how you can fit into what's needed today and tomorrow.

4. Confidence to Work in New Corporations. Expect the very shape of corporations to change as current industries fade out and new industries emerge. That means jobs will require new skills and abilities. Even how jobs are conducted within companies will change. New and emerging types of jobs include commuter jobs that can be done from home or other locations. Other trends are jobs done in teams and groups. Some of these team or group functions will require working with people from other nations as technology allows corporations to instantly work across international boundaries. Where will you fit into this new corporate look? Think about your abilities to work in diverse atmospheres with a diverse group of people. Your confidence might build as you think about what you have to offer to new forms of corporate positions.

5. Confidence to Go it Alone. The idea of transitioning from working a job to working on your own can be either frightening or exciting depending on your confidence levels. It can be frightening to think about the lack of a financial safety net that came with a job or having to design and market what you have to others. But it can be exciting to think about having the freedom to turn your skills and experiences into freelance work. When you think of your particular strengths your confidence to go it alone could build to point of just putting that brochure together and going to the places where you need to be to get started in your own freelance opportunity.

6. Confidence to Switch to Small Business. Taking independence a step farther could mean having the confidence to start a small business. While economic news focuses on corporations to provide the majority of jobs, small business is still be the dominant way to create income and new jobs. This might be the perfect time to start your own small business and build it from the ground up into a major employer. As you study trends you will see where new needs are emerging. For instance, organic and whole foods are a growing interest and opens possibilities for new types of food services. Large size clothing is needed for people of all ages including children and teens who want to be fashionable even at large sizes. Think outside of the box to increase your confidence to start a business using what you already know to provide what people already want.

7. Confidence to Get Online. Using your skills could mean growing a business from the Internet. Internet businesses are still growing even though changes are happening in how they are being marketed. Consumer confidence in Internet based businesses is shifting. That just means having the confidence to learn the techniques needed to get recognized, and trusted by people who do business online. An internet business provides the advantages of being flexible and immediately international if that's in your plans.

Use these seven tips to build your confidence even in a challenging and changing economy. You might not have to transition to a whole new way of working, doing business or earning an income. But you can develop the confidence to be successful when you understand what steps to take to move ahead.

Consuelo Meux, PhD has been a consultant working in business, leadership and organizational development since 1998. She assists women to be the leader in their life, health, business and career even in a quickly changing economy and personal world. Get the special report "12 Strategic Skills Every Woman Leader MUST Master to Break the Ceilings to Her Success" and get coaching to move through the barriers that hold you back in your life at http://www.leaderslifestyle.com/

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