How to Win Client Business When You Don't Know Where to Start

CHAPTER 3Where Clients Come From : Understanding the Key Client Pathways

History doesn't repeat itself but it often rhymes.

—Mark Twain, writer

I received a knock on my office door today. It was a financial advisor from Edward Jones. Her name was Molly and she was prospecting door to door in an attempt to drum up business.

“How long have you been with Edward Jones?” I asked.

“About a month,” Molly replied.

“How's it going?” I asked.

“It's going all right, I suppose. I'm just getting started,” she explained.

“Have you landed any clients?” I asked.

“Yes, actually – I've landed two clients over the past four weeks,” Molly beamed, “a young guy who recently graduated from college who wanted to get started saving, and a middle‐aged woman who was looking to roll over her 401(k).”

“Well, congratulations,” I said, “that's a good start.”

Molly's story may not be that familiar to many of us; most of us don't prospect door to door. But it does fit into one of the traditional client pathways; it just may look a little different in your profession. Understanding these traditional pathways is essential to understanding the importance of the five rainmaker skills that we'll soon discuss.

The Seven Most Common Client Pathways

Over a cocktail at a dimly lit bar, I'll confess that I've spent more time than I care to admit thinking about where clients come from and how we can get more of them. Reflecting upon my own experiences and on hundreds of stories from others, I have discovered that ...