Building Your Circle of Influence
One of the common denominators of successful advisors turns out to be the use of several groups of people they solicit, nurture, cultivate, and rely upon for advice, leads, and help in running a profitable practice. These people, who ultimately become part of their "Circle of Influence," typically fall into five groups.
Building Your Circle of Influence By Ayo Mseka
In my search for articles to be featured in this magazine, I often ask top producers to share the reasons for their professional success. One of the common denominators of their success turns out to be the use of several groups of people they solicit, nurture, cultivate, and rely upon for advice, leads, and help in running a profitable practice.
These people, who ultimately become part of their "Circle of Influence," typically fall into five groups:
Centers of Influence: These include accountants, lawyers, bankers, estate planners and real estate professionals who provide leads and referrals
Study Group Participants: These are agents and advisors they meet with regularly to discuss issues of common concern and solicit help with difficult client cases.
Board of Client Advisors: These are clients the advisors regularly ask about what is working and what is not, in the all-important client/advisor relationship.
Mentors: Younger advisors often turn to these individuals for help, counsel, and encouragement as they build their practices.
Professional Coaches: These folks counsel advisors professionally, help them maintain their focus on achieving success, and work with them to get the extra push they need to jumpstart their career.
Another group to add to your circle
As you work with these individuals, you should think of adding your fellow NAIFA members to your Circle of Influence. Why? Ask any successful NAIFA member the reasons for joining the association and he will likely mention the opportunity to gain access to other NAIFA members.
Access to NAIFA members is critical because when you reach out to them, you begin to see great things happen to you and your practice. You get the motivation you need to keep on keeping on when things are not going your way, and you get a pat on your back when things are. You get advice on some of your most difficult cases, as well as tips and techniques for boosting your production numbers. Whether your focus is on life insurance, multiline, retirement, financial planning or estate planning, one quick call, text, or email is all you need to get the inspiration and professional help you need to forge ahead.
So as you review your Plan for Success this year, make it a point to use all of the "experts" mentioned in this article. They will work with you to grow your business and teach you some powerful lessons along the way.
This article appeared in Advisor Today.