Increase Your Selling Time Horizon
The Horizon
The longer your time horizon, the further your vision can go. Powerful words that may be hard to get your head around.
Think of it in terms of closing clients. The highest quality client – the big fish – will take longer to close, so slow down and allow that time horizon to unfold so that you can have a much bigger vision. When you can adopt and embrace this thinking, you can allow yourself to slow down and shed any self-imposed pressure you’re placing on your own shoulders. When you do so, you’ll find you enjoy the process far more.?
Now, that said, I understand that you may be in survival mode as you’re starting out. You have a short horizon. You want to close clients now. I get it, and that mindset is not easy to shake off.?
The timeline for the sales cycle from first prospect touch to close can run anywhere from three to six months. But think about this: As a financial advisor, everyone you meet will need your services at some point in their lifetime. That’s a very realistic probability. However, most of the time, people do not have money in motion. And what is every advisor trying to get? Answer: money in motion. What’s the probability that a prospect is selling a house or business or rolling over a 401(k) when they enter your orbit? Pretty damn low.?
But… let’s extend the horizon. What’s the probability of that happening in the next five to ten years? Ah, yes. Pretty damn high. So if you can begin to expand your time horizon with particular prospects, it will serve you. I’ll venture to guess you’re planning to stick around, so even if they don’t need you at this moment, they’re going to need you in the future.?
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Stay in their orbit and continue to bring them into your world. This is the power behind “A people, A places, and A activities.” But don’t overlook the other important “A”: alignment. When they’re aligned with you, you will enjoy the process of serving them. Maybe taking them on several fishing trips in order to close their business is enjoyable to you. However, if they like going to the theater and you don’t, treating them to those outings leads you to question how many plays you’ll have to endure and the bitterness that comes with being out of alignment. That leads to the tendency to ignore and reject them. They’ll then want less of you, not more.?
Shared interest and alignment with clients sets you up for success because at some point, they’re going to need you, and you’ll be there to be of service. “Hey, I can help you with that.”
Know that what you do is noble and right and that the business is about trust and likability. Extend your horizon and the time frame. I’m not suggesting you should forgo the idea of always looking for opportunity and “always be closing.” You should, but in doing that, extend the horizon and you’ll be amazed at what happens. Granted, larger clients have a longer sales cycle, but you always want to be interacting with them.?
If you fill your calendar with clients who require a short time frame for your service, you are going to find yourself in constant chaos mode. You must find the balance, and in finding that balance, take the time to identify those “A people” – the ones you’ll drop everything for. As you identify them and interact (i.e., give your attention to), you’ll find yourself getting more of them because… what you give attention to you get more of.?
Take some steps to get “A people” into your pipeline. Do not operate a referral business, sitting and waiting for people to come to you. Take action or you are not in control. Once you are no longer in control of achieving your goal, you slip into chaos, default rather than design, and unhappiness and dissatisfaction follow very close behind. Put yourself actively in the mix with the clients you want. Consistent activity drives consistent production, and that keeps you centered and sane. Remember what needs to be remembered.