The ABCs of Automatic Referrals: C is for Client-Centered Mindset

Do you feel like the Cowardly Lion every time you think about referrals?  Does the mere thought of asking make you feel uncomfortable ?  If it does, chances are you think that referrals are about YOU and building your business.

Ironically, not only does that mindset make many advisors reluctant to ask for referrals, it also makes the requests less effective. That's why one of the first keys to referral success is adopting a client-centered mindset.

What does that mean?

When you adopt a client-centered mindset, you begin to recognize that referrals are not all about YOU. In fact, a referral is an opportunity for you to help someone ELSE—a new client—as well as the person who referred you.

Here's an example, a true story we heard from Laura, an independent CFP. One of her clients mentioned in passing that he had a friend who was sick and had to go on disability. A week later, Laura was meeting with the client, and because she’d read the Automatic Referrals report and was wearing her referrals detective hat, she thought to ask after the disabled friend. She asked how he was doing, then mentioned to the client that she has a lot of experience helping people with disabilities, and perhaps she could help his friend.

Laura's client got on his cell phone right then and there—still sitting in Laura's office!— to call his friend and tell him he must IMMEDIATELY call Laura and schedule an appointment.  The friend took the advice. It turned out that he and his wife were quite wealthy, and became clients.

This is a textbook example of the client-centered mindset. But it doesn't have to be about disabilities. Whatever your specialty or target market (free registration required) happens to be, remember that your job is helping your clients overcome certain challenges and achieve certain goals.  Their friends, family members, and colleagues most likely have similar challenges and goals with which you can help.

So, instead of thinking of yourself as scrounging for new clients when you ask for introductions or referrals, realize that what you are really doing (or should be doing) is offering guidance and expertise to the people your clients care about.

You're not asking for help. You're OFFERING it. That's the client-centered mindset in action.

By the way, asking for help is fine too.  It's all in how you do it.

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