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That's a real knee-slapper, except that many insurance advisors behave just like that. They don't say that anyone will do, but it works out that way. They will work with anyone who has a breath of air in their lungs. This is a killer mistake. It holds you back from achieving what you deserve in this wonderful business. It also means you'll work harder, longer, and for less money.
Fortunately, there is a way out.
Here's the key: Decide to focus your business on people in your "natural audience." Your natural audience is that group of people who easily, quickly, and with little question subscribe to your advice. You have natural influence with them.
You could say you are your own "center of influence" with them. They simply naturally believe you and accept what you have to say. They take your calls. They take your advice. They will take your business to the next level.
You already know these people. You probably have a nest of these clients now. They likely have become your friends. They refer you to others like them. They call you for advice. They buy regularly. They own a lot. They are easy to deal with. This is your natural audience.
This sounds simple enough, but there is always a problem. It's your ego -- it gets in your way. So often, I hear that an advisor isn't satisfied with his or her current market and wants to work in a high-end market. Often, this means with business owners or professionals, even though the advisor has no connection or influence there. It is very difficult to acquire connection or influence with these people. As a result, these advisers struggle for and get little more than frustration and mediocrity to show for it. They will not accept their own reality.
Fighting reality is always a losing battle.
A successful advisor with whom I consult worked very hard with attorneys for about 10 years. His business was good and he was an MDRT Top of the Table producer. He had nothing to complain about, except that he was working devilishly long and hard for his money. He was chasing the "Big Fish" successfully, but the chase never ended.
What's more, they always questioned his advice. They always knew better. Or, they claimed to know someone else who did. It was a challenging way to earn a living -- even a very good one.
Then one day, almost by accident, he was referred to a public utility worker who needed help. It turned out that he was just one of hundreds in that group looking for help. They didn't know where to turn and there he was. It was easy.
Quickly, this advisor learned all he could about the group and their problems. He studied their group benefits plan. He discovered the nature of these people. He knew what they wanted and he knew what they needed.
In no time, he was an authority that these people looked up to. Better than that, they searched him out because no one else had the answers he did.
Referrals poured in. Business piled up. The fish were chasing the boat!
What was most astonishing to him was that his income doubled in the first year he took on this new audience and made it his priority. It doubled again the next year. If you are doing the income math along the way here, your eyes may be bulging out of your head. Mine did, too.
It was amazing. But you can be amazing, too.
It turns out that while he could work with high-end people, they weren't his natural market. He didn't have natural influence there. But, he did have it with this utility group that needed and wanted his help.
Here's what he said about focus: "Before I concentrated my effort on one market, I thought you had to be crazy to give up on all that other business. Now that I have, I know you have to be crazy not to."
By the way, this is not to say that some advisors aren't ideal for a high-end market. You might be the perfect person for that market. If this is the group where you have natural influence, it's the audience you should pursue. But you can't fake it.
Does this mean you have to dump the rest of your clients? No. In fact, you shouldn't. You can keep servicing them and benefiting from your work as they grow and develop as clients.
Just concentrate your new client-building efforts on your newly uncovered natural audience. Over time, the switch from one audience to the other will come naturally. The income improvement can be immediate.
Go from mediocrity to millions by deciding to concentrate on your natural audience.
