When people ask “How's business?” you may have the opportunity to expand their understanding of how you help people and possibly get a referral in the process. (Photo: Shutterstock)
You attend Chamber events and community activities. People know where you work and what you do. If not, the logoed ball cap/windbreaker/umbrella gives them a good idea. (Please wear only one at a time.) People often ask: “How's business?” What do you say? More important, are you missing an opportunity for some soft selling?
Your standard answer
Most people are on auto-pilot when they answer. We say “Great” or “Wonderful.” Why? Because no one wants to hear you complain. Imagine if someone said: “Terrible! I just lost these valuable client documents!” Suppose you said: “Lousy. You wouldn't believe the loony people I work alongside. My boss is the chief loony.” TMI, or Too Much Information.
Change your approach and you might change your outcome. Ever notice when some politicians are asked a question they don't want to answer, they look at the camera, answering a totally different question? This technique can work for you.
Everyone wants help when they need it
Suppose instead of hearing “How's business?” you heard “How have you helped someone today?” Obviously, client confidentiality takes center stage. Any stories you tell are anonymous. You also need to keep them short.
“I have a client. Been with me forever, but didn't like her job. She lives modestly. I showed her if we switched her holdings from growth to income, she could quit tomorrow. She would never have to work again.”
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Bryce Sanders
Bryce Sanders, president of Perceptive Business Solutions Inc., has provided training for the financial services industry on high-net-worth client acquisition since 2001. He trains financial professionals on how to identify prospects within the wealthiest 2%-5% of their market, where to meet and socialize with them, how to talk with wealthy people and develop personal relationships, and how to transform wealthy friends into clients. Bryce spent 14 years with a major financial services firm as a successful financial advisor, two years as a district sales manager and four years as a home office manager. He developed personal relationships within the HNW community through his past involvement as a Trustee of the James A. Michener Art Museum, Board of Associates for the Bucks County Chapter of the Fox Chase Cancer Center, Board of Trustees for Stevens Institute of Technology and as a church lector. Bryce has been published in American City Business Journals, Barrons, InsuranceNewsNet, BenefitsPro, The Register, MDRT Round the Table, MDRT Blog, accountingweb.com, Advisorpedia and Horsesmouth.com. In Canada, his articles have appeared in Wealth Professional. He is the author of the book “Captivating the Wealthy Investor.”
