Mar 28, 2018
Improving Your Professional Network
Today on the Confident Advisor Practice from the Horizon Advisor
Network, host Bill Bush, Pete Bush and Chris Sullivan of the
Horizon Financial Group
continue discussing the
Confident Advisor Practice scorecard for rating financial
advisors and business owners. They have previously covered
Financial Management, Vision, Value Proposition, and Business
Development. Now they get into the four grading sections of
“Professional Network.” Learn the importance of trust and sharing
your talents in building out your network as a financial
Time Stamped Show Notes:
- 01:03 – They discuss the 5th category of the Confident Advisor
Practice Scorecard: “Professional Network:
- 01:53 – Score yourself 1-3 if you are suspicious about CPAs and
other service providers and focusing on what your professional
network can do for you and not what you can do for them.
- 04:10 – Score yourself 4-6 if you only refer other
professionals business if they refer business back to you. You
network but you don’t share how your approach could benefit
- 06:35 – Score yourself 7-9 if through working with clients you
have gotten to know some of their other professional relationships
and you randomly receive referrals. You are active in the community
and sit on boards and have earned trust and respect. But your
opportunities are coming to you randomly.
- 10:33 – Score yourself 10-12 if have a network of specialists
ready to help you and your clients and routinely refer your best
clients to them. You keep them updated on how you can add value to
their clients. You trust them and they trust you.
- 13:03 – Pete mentions the importance of not asking for anything
until you have had the chance to give first. Create opportunities
to build a professional network with individual meets and taking
them out to eat.
- 16:25 – Part of your value proposition is to connect clients
with other specialists without pretending you know it all.
- 17:32 – Next Episode Preview on, Process and Procedures, Unique
Ability Teamwork, and Continuity and Succession.
- 19:24 – The closing credits
3 Key Points:
- 1. Keep professionals in your network updated on how you can
add value to their clients.
- Don’t ask for anything until you have had the chance to give
that person help first.
- Your value proposition should include connecting clients with
other specialists without pretending you know everything they need
- “You are not only needing other
professionals to help complete the client’s financial needs...you
need to be part of their financial network as well to get some
their reciprocal type of referrals.” – Pete Bush
- “What you really want to do is position
yourself as a valuable resource for their clients and then let the
chips fall where they may.” – Pete Bush.
- “You are be a magnet versus pursuing.” –
- “The law of reciprocation is give first.” –