Why should I do business with you?
You walk into a meeting with a prospect. You are excited because you know this person is unhappy with his present advisor. You have your pitch book complete with both pie charts and bar charts. You know how you are going to start the conversation. In short, you are excited and prepared.
You sit down at the highly polished conference table in your prospect’s office. His assistant asks you if you would like anything to drink. You can feel the wealth. You are ready to go.
After a little small talk, you take a breath and prepare to begin your pitch. Before you can get started the prospect holds up his hand and says, “Before you get started, let me cut to the chase. Why should I do business with you?” All of that preparation melts away and the prospect has taken control. What do I say? What is the answer?
You say, “I will do a really good job. May I tell you how I do it?” It is at this point that you are glad that you know your brand and can describe it.
The purpose of this story is to emphasize that you have to have a brand. The most important part of a relationship is trust. How do you develop trust? You do it over time by doing what you say you will do when you said you would do it. Until you have time to build that trust with a new client, you have to have a brand that will separate your practice from what the client is now receiving. Never forget that as you talk with a prospect he or she is comparing you with what they are now receiving. You have to have the confidence that your brand is a competitive advantage. As Jack Welch once said, “If you don’t have a competitive advantage, don’t compete”.
Of course, please let us know if we can help. Our new website and coaching services are dedicated to helping you bring balance to your life, improve the overall focus on your practice and give you the time to grow significantly.