It may seem odd in a blog about referrals, but I'm going to spend a minute telling you why you should considering cutting people OUT of your book, and being choosier about who you accept as a client.
In his post "Grow Your Practice by Asking Clients to Leave" on The Non-Billable Hour blog, Matt Homann discusses a really interesting post on, of all things, a marketing blog for churches. The gist is that in order to grow in a healthy way, churches not only need to be open to letting parishioners switch to a new church when they're not a good fit, they should actually be proactive about SUGGESTING that they leave.
Take a look and you'll see immediately how this applies to your business. As Matt says, "Your practice is often far healthier if you stop serving clients you don't want (and who are often unhappy with your service anyway)." Not only does "pruning" your book free up more space for GOOD clients and lead to a happier, more fulfilling experience for you, it also leads to higher-quality referrals... because the clients you like are the ones most able to connect you with others just like them. (This is especially true when you start to get into niche marketing.)
Start examining your book and your client requirements today, and get on the road to greater efficiency, higher satisfaction for you and your clients, and more quality referrals. These resources can help (free registration required).
Pruning Your Book 101: Get Rid of Dead Wood
Got too many unproductive clients? This primer shows you how to reduce the size of your practice to release energy and increase your satisfaction.
Should You Throw Some Fish Back?
Being selective about the type of client you take on can be difficult, but critical to your continued success. Here's what FAs have to say about screening prospects in this week's advisor e-mailbox.
Give Your Book a Spring Cleaning
If you're a veteran advisor, find out what's lurking at the bottom of your client list. You may discover a gold mine or a junk heap—but at least you won't be in the dark.
How to Set an Account Minimum--And Stick to It
http://www.horsesmouth.com/linkpo/79321_18.htm
Don't wait until you have hundreds of small accounts to establish an asset minimum. Define your ideal client today, provide high-quality service, and achieve success on your own terms.
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