Prospecting Across Race.

Prospecting Across Race. –By Mark Purnell

Birds of a feather flock together…those of similar tastes congregate in groups…

A Fast Track To Rapid Growth… Chapter 6 of Secrets of A Trusted Advisor
Over the years, a key niche market/relationship for me was CPAs, because my background was in accounting and I used this “occupational niche” to work with CPA’s as clients and to cement relationships by working closely with the CPAs of my non CPA clients.

I was a consultant and worked for two international accounting firms before becoming a financial advisor. So, I was very knowledgeable and comfortable with accounting service providers. Because of my experience in the field, I understood the psychographics, demographics, and their unique challenges. Consequently, I was easily accepted and had high creditability.

How did this come to be? I believe that people like doing business and working with people that think like them. That’s not a racial statement or a gender statement. But it’s something to consider when you look at what your niche is or can be. Think about how you and your team members or partners think and act in the world. Who is it you naturally attract to your business? I relate to CPAs (even though I’m not a CPA) because I wanted to be a CPA in a former life.

Birds of a feather flock together…those of similar tastes congregate in groups. Working in a niche market has a lot of benefits. First, you can specialize. Advisers who are specialists, and possess an expertise, can solve problems for a select group of people. Your specialization makes you and your firm more attractive than other advisers offering general services to a broader audience. Why? You make a specialized group of people feel special. You make them feel like your practice was designed for them.
Having a niche provides focus for your practice. When you create a profile around your target market, and you tailor your message to them, you might hit on opportunities specific to an occupation, or hobbies, and interests, or specialized planning needs.
Are you an avid runner, traveler or cancer survivor?…..its a natural market for you to prospect and dominate.

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