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Why will people you know socially send business your way or set you up with some really good referrals? There are many reasons. They might really need exactly what you provide. Maybe they are considering several providers and decide they like you as a person. Here's a third reason: You are helping on a project that's important to them. They want to reward you or at least retain you.
Here's a real-life example. My wife and I knew a (now deceased) real-life philanthropist who owned a thriving business. He had a favorite local charity. One day he told me about a financial advisor who served on the charity's board. He told me about the great things the advisor had done as a volunteer and about the impact his efforts made. He concluded with "I decided to send my retirement plan over to his firm as a thank you." Regardless of whether it was the company plan or his own plan, it was a big plan!
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3 areas that need help
When you get involved in a group you quickly learn they have committees. Although there are many, three are universal: Membership, Fundraising and Event Planning. All three are on the revenue side of the equation. One is always in crisis. Find the one, solve the crisis and you should become indispensable. They will want you to stay.
1. Membership. This is the recurring revenue engine of the organization. Generally speaking, if you keep up communication and keep members happy, they renew year after year. Maybe you introduce the sustaining membership model like Public Television uses for membership drives.
Here's another idea: Send notes to invite friends to your house. Serve wine and munchies. Don't deceive anyone: Your invite says you have belonged to the group for years, you love it, come to the house on (date) and learn why, hopefully you will join us as members too. Get someone from the professional staff to give a short talk. Have a glass bowl on a table with a couple of checks inside. Friends will join.
2. Fundraising. This puts you in front of people with prospect potential. They come up with the leads. If you are nervous, go out with a fellow board or staff member alongside. Write your own check first. Ask them to join you as a donor.
3. Event planning. You can be as involved as you want to be. Galas usually have live and silent auctions. Solicit great items and experiences from people the staff suggests. In our area, showstopper items include the use of someone's beach house or apartment in Paris. Maybe they fly you someplace on their plane. Attend the event with the donor alongside you. Introduce them around so the people who run the group can thank them. Their item should do well in the charity auction. You learned enough about them to identify some interests in common.
You have demonstrated you can raise money. Word gets around. Other organizations will try and poach you. Now you have become indispensable.
Bryce Sanders is president of Perceptive Business Solutions Inc. He provides HNW client acquisition training for the financial services industry. His book, "Captivating the Wealthy Investor" can be found on Amazon.
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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.”
