Thursday, July 21, 2011

Did That Hit a Nerve?

Eleanor Roosevelt said "Do one thing every day that scares you."

Taking risks is scary because risk is all about doing what's uncomfortable. I believe that when we play it too safe we are not living up to our potential.  When we are safe we are comfortable. When we are comfortable we are not growing.

Fear has a way of keeping us up at night, turning our palms sweaty, and making our heart beat stronger. But it’s the risks in life that can lead to bigger rewards.  When you don’t frequently take risks, it's pretty uncomfortable to begin taking them. Like the person who doesn’t speak much in public and is terrified to be in front of a room. Or the person who is accustomed to the same routine day in and day out and is just fine with it thank you very much.


Think about the last time you took a risk…
  • Talking to a stranger in the grocery store checkout line
  • Speaking up in a crowded room at a seminar or conference
  • Asking a client for a referral
  • Asking a client for additional investible assets
  • Calling a prospect who hasn't returned your 3rd phone call
  • Deciding to attend your first Toastmasters meeting
  • Deciding to use public speaking as a marketing tactic
  • Getting off your duff and cold calling to get new clients

Yes, when you take a risk there is the possibility that it won't work out. The client may say no. The prospect may answer the phone and ask you not to call back. But more often than not there will be a reward and a feeling of accomplishment.

The wonderful bonus when taking risks is that you can better handle uncertainty. You build up a thick skin and a motivation to succeed. Taking bigger risks in the stock market can lead to bigger gains; taking risks in your relationship with clients will produce bigger gains as well.

When was the last time you took a risk? If you're too comfortable it could be time for change

Suzanne Muusers
Motivator and Risk Taker

Friday, July 15, 2011

Target a Niche and Create Information Products to Serve the Masses

How would you like to have your cake and eat it too? That's what targeting a niche for your practice and creating information products for the masses can do for your business.

Advisors are resistant to targeting a niche because they fear turning away clients. Yet taking on too many clients with too many diverse needs and concerns can cause a fractured focus, too many work hours, and personal dissatisfaction.  

Announcing that you specialize in a specific demographic, profession, business industry, or gender doesn't mean that you don’t take as clients Mr. and Mrs. Smith who are none of the above.  It just means that you specialize in this niche and know how to service their unique problems.

Imagine for a moment that you have created information products that you sell on the internet to prospects who don't meet your minimums

Rather than turning away the $4000 Roth IRA rollovers or the less than attractive investible assets showing up on your front door, create a product that could help these folks and sell it on your website.  This strategy can eventually evolve into a wonderful passive revenue stream.

Despite coaching only Financial Planners, I have created, trademarked and now sell many products on the internet. When I created my first information product, a Business Plan for entrepreneurs and independent professionals, it was a standalone e-book. I charged only $24.50 for the 20 page e-book and a word template for the finished business plan. Over time I added many sample business plans for various industries and professions, multiple marketing tools, and an e-course to help purchasers fully develop their custom plan.  I now sell the business plan at a higher price, have multiple additional standalone products, and I sell my products all over the WORLD! That's the power of the internet.

The moral of the story: think about information products you can create that could solve problems for clients who may never work with you. Passive revenue is AWESOME!

Suzanne Muusers
Business Coach and Strategist to Motivated Advisors