What is 90-6-4-2-2-1?
The numerical phrase “90-6-4-2-2” refers to the Supernova acquisition model for advisors. The ‘90’ stands for the maximum of 90 active prospects you can have. That number is derived from having the same number of prospects as you do clients. For example, if you are a private wealth advisor with only 50 clients then you would want 50 prospects.
A prospect is someone who meets your minimum and fits your description of an ideal client. A prospect is usually a better fit than your current median client. They meet soft issues (you like them, they like you; you trust them, they trust you; you listen to them, they listen to you) and hard issues (meeting your minimum, willingness to meet once a month). You can approach these prospects through referrals from Center’s of Influence, your mastermind group, clients, and your community networking.
Once you have met with a prospect you can offer to do a financial plan or a cash flow analysis for them. You set up monthly contact with them and treat them as if they were already clients. It generally will take 1 –3 months for them to see the difference between you and the competition.
The ‘6’ refers to six Centers of Influence. Centers of Influence are someone willing to refer business to you on a regular basis without being asked. They can be current or past clients, enthusiastically endorsed service providers of your clients (CPA’s, attorneys, real estate brokers, doctors, etc.). Identify six people fitting that description and meet with them to make them understand specifically what you do and you understand what they do. Plan on meeting with them once a month for coffee or breakfast and to exchange referrals. You will give them referrals from clients who are looking for their particular services.
The ‘4’ refers to a four-person Mastermind group. A mastermind group is made up of you and 3 of your peers from other fields that can help each other grow through contacts and advice. These are people that you like enough to invite over to your home for dinner. You meet with your mastermind group once a month for dinner or lunch with a set agenda giving each person the opportunity to share information and prospects
The first ‘2’ refers to active participation on two boards of directors - one community/nonprofit board and one arts board. The community/nonprofit board can be anything from the chamber of commerce, Diabetes association, local hospital or your alma mater. Just make sure the board you choose fits your interests and energy. The arts board would include the orchestra, opera, local children’s museum, art museum or ballet. As an active member of one of these boards you will have the opportunity to help serve others, meet a number of individuals that meet your minimum and grow your brand.
The second ‘2’ refers to the development of two niches. The first niche is your natural niche, in other words, where you came from. The second niche is the one you develop when obtaining new clients. If you look at your current client list you will notice there may be a disproportionate number of clients in one demographic, for example physicians or divorcees or engineers at General Motors. That would be your niche.
The '1' refers to your social media strategy. Do you have a company website? Are you on Linkedin? Do you keep your profile up to date at all times? Do you participate in online discussions or write articles and post to Linkedin? These are all helpful ideas that will help you become known and trusted in your community.
All of these acquisition strategies will accelerate your business growth if you implement them correctly. Sign up with a Supernova coach now to guide you through the process.