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3 Barriers Blocking Prospects from Becoming Clients

Are you getting the volume of business you want and leading the lifestyle you always dreamed?

If not, ask yourself this, are there barriers standing between you and the growth of your firm? Chances are, you’re blocking the growth of your firm without even realizing it.

Let’s take a look at three barriers, most advisors unknowingly feed into, thus causing a large hindrance to the growth of their business.

1. You’re stuck in your ways.

This barrier is an especially challenging hurdle for extroverts.

Extroverts:

  • Love to talk
  • Share their ideas
  • Get others on board with their plan

The consequence is an unwillingness to try a new approach or compromise. In comparison to introverts, who are typically more willing to listen and adapt, extroverts have a hard time realizing they may actually be their own barrier.

Extroverts may not be able to change their stripes entirely, but creating an awareness of how your prospecting or client relations may not be the best of the best can open the gates to inviting a new perspective or ways of doing business.

2. Your process is flawed.

For one reason or another, your prospecting process isn’t panning out. It could be you’re looking in the wrong places, or your interactions with clients are missing the mark.

The fact is, if none or very few prospects are being converted into clients, something is wrong.

Start tweaking your process by making small, incremental changes. Assess each phase, such as the environment of the initial meeting or your method of communication (email, phone, etc.), to identify areas for improvement.

Don’t simply make a switch and hope for the best; actively observe the results to see if what you’re doing is working or if you need to keep tweaking.

3. You’re too focused on yourself.

Admittedly another big issue for extroverts is having too large of an interest in yourself, rather than your client.

Many advisors make the error of trying to win over a prospect by flaunting their knowledge or achievements; they use technical jargon and through around industry talk, assuming it will dazzle the prospect enough into doing business.

In reality, doing so often pushes clients away because they either have no idea what you’re talking about or feel like you’re just in it for another gold star.

Turning the focus off you and onto the client is surprisingly simple: stop talking and start listening.

With active listening and a few pointed questions, your client will tell you exactly what they want — you just have to be attentive to absorbing it.

I Can Help!

Luckily, all of these barriers can be overcome with the right awareness and efforts. Want to learn more about improving your prospecting process?

Check out some of my favorite posts on the topic:

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3 Barriers Blocking Prospects from Becoming Clients
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Are you creating barriers to the growth of your business? Many financial advisors are feeding into these three common barriers to converting prospects into clients, without even realizing it.
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