It doesn’t hurt to ask

Children have an unabashed, yet endearing, persistence when asking questions, and it helps them get answers. Can advisors learn from this?

Here are five essential areas where you must ask questions, and the best ways to do so.

• Ask about clients’ needs

  Your product or service is relevant only if it’s in line with people’s needs and desires.

  You must understand clients’ motivations, circumstances and requirements. Open-ended questions typically garner more discussion, but there are two that can tap into the emotional psyche of your client:

  • What are 5 challenges that you’re currently facing financially and/or in your business?
  • What action plan do you currently have in place to help you overcome each one of the challenges you just mentioned?

  Once you’ve uncovered more information, you’ll be able to offer a solution that best corresponds with the identified gaps.

• Ask for business

  Don’t be shy about your offerings. People won’t know what you can do for them, until you tell them. If you feel people could benefit from the solutions or services you provide, make sure to let them know.

  One of the best ways to ensure you clinch the deal is to ask a closing question that allows your prospect or client to answer one of two ways—yes or no. For instance, are you ready for me to help you meet your goals and objectives?

• Ask for testimonials

  To build your testimonial database, start by asking clients directly. If you have a profile on LinkedIn and your client is one of your connections, you can easily send them a message asking for a recommendation. If your client agrees, post it on your profile for others to see.

  Another great way to get a testimonial is to provide your clients with a canned template, and have them fill in the blanks with answers relevant to their own situations. People generally like to help others and there’s no better way than sharing experiences.

• Ask for referrals

  The easiest, most effective and inexpensive way to grow your business is through referrals. Asking for referrals is like asking that closing question: you will get one of two answers—yes or no. For example, “Can you introduce me to two or three people like yourself that would also benefit in working with me?”

• Ask for input from…

  • Clients:

    Conduct a customer survey once or twice a year to get regular input and improve your offerings.

  • Mentors:

    Regardless of how much you know, there’s always someone else out there who knows more and can pitch in with a different perspective. Some key things to consider when asking someone to become your mentor:

    • Explain your situation and share why you feel they can help
    • Discuss how often you would like to receive mentorship and the method that will be used (phone call, face-to-face meetings, video conferencing, etc.)
    • Set up a mentoring schedule

  • Consultant:

    Work with a consultant who understands your business and can help you focus on fine-tuning your systems and processes so your business runs more efficiently.

  • Business coach:

    A business coach helps you tweak your thoughts and actions so you can enhance your performance, productivity and profitability.

The opportunity to ask for something or other presents itself every day. Don’t let ego, unfounded fears, negative attitudes or low self-confidence deter you from taking your practice to the next level.

Keep asking, albeit graciously, and someone is bound to say yes. When that happens, it could be the turning point that takes you from good to great.

Tyrone Matheson, FMA, is a Business and Personal Development Coach and CEO of Inside Out Training.