Knockout Networking for Financial Advisors and Other Sales Producers

CHAPTER 6Focus on a Target Market: Hit Those Focus Mitts

“Being an effective networker reduces six degrees of separation down to one.”

—Michael Mahoney, Investment Management Distribution Executive

If everyone is your target market, then no one is your target market! What is a target market anyway?

Your target market is whom you serve best and, therefore, wish to serve most.

It is absolutely critical to have a target market, especially if you are just starting your practice or business, or if you're looking to take your business to the next level. I don't think having a target (or niche) market is the only way to grow your business, but I do think it's one of the easiest and most effective ways.

As a financial advisor or almost any other type of sales producer in the world, if you have a target market it will help you be much clearer about the type of prospects you want to meet. Having a target market as a job searcher or if you're in the learning and research phase of an initiative can only help your current network and those you meet to help you. The more help you can give to the people you speak with about how they can help you, the more helpful they will be.

Help me help you!

How I Discovered My Target Market

My favorite groups to work with are composed of people in the insurance and financial services industry. Financial advisors have a dynamic that's similar to mine: high‐energy, sales‐oriented, smart (not that I'm all that smart), and open to learning new ways ...