Knockout Networking for Financial Advisors and Other Sales Producers

90% of financial advisors fail at being financial advisors. Why? Because advisors, brokers, reps, and agents need to see more people to make more sales appointments. And nobody in their firm, agency, branch, or shop trains them how! Knockout Networking for Financial Advisors is the only book written for sales producers in the financial services industry focused on making more connections through networking

In the wake of the COVID 19 pandemic, networking, developing relationships, generating referrals, and making important connections are as important as ever. The ideas and approaches in Knock Out Networking for Financial Advisors can be applied immediately to virtual meetings, online networking groups, social media, podcasts, and of course, phone calls. The problem is, most advisors and sales producers are not born networkers; they develop the skills and confidence through education, training, practice, and having a positive attitude.

Knockout Networking for Financial Advisors covers everything you need to know about going to the right places (virtual or not!), saying the right things, and meeting the right people―essential skills for a financial advisor or sales producer that's serious about making more and better connections! The result? More prospects, more referrals, and more business.

Author Michael Goldberg is a networking specialist, speaker, trainer, author (and boxer!) focused on helping financial advisors, brokers, agents, reps, wholesalers, and other sales producers grow their business or practice through networking.

In this �must read if you�re a financial advisor� book, you will learn how to:

• Confidently meet and greet new people in business settings
• Further define your Target Market to establish more and better connections
• Deliver a �knockout� elevator speech (not a script!)
• Generate more prospects and referrals from current client base
• Establish important relationships generating more business opportunities

Bottom line, networking is the most effective way to attract more prospects, more referrals, and more business to your corner. Remember�keep the left up!

Preface xi

Part 1 Opening Rounds 1

Chapter 1 Networking is the Key to a Successful Career (Especially in Financial Services) 3

Why Financial Advisors Should Network 3

Top Producers Should Network Too 6

Why Financial Advisors Don’t Network 8

Chapter 2 What is Networking? Having a Networking Mindset 17

Six Reasons for Networking 18

Why Understanding the Six Reasons for Networking is Important 23

What is Networking Anyway? 28

Chapter 3 Why You Won’t Connect with Everyone: The One-Thirder Dynamic 37

One-Thirder Dynamic 39

Two-Thirder Dynamic 42

Focus on the One-Thirders! 43

Zero-Thirder Dynamic 44

Mirror Image 46

Sometimes You Can Reduce the Fraction 47

Part 2 The Rules of Networking^™ 49

Chapter 4 No Selling Ever: Keep Bobbing and Weaving 51

The Cost of Selling at a Networking Event 54

Trade Shows: An Exception to the Rule 60

Chapter 5 Everyone is Not a Prospect: Don’t Waste Your Punches 63

What is a Prospect Anyway? 65

True and Probable Referral Sources 69

Natural Market 71

Prospecting is Important! 73

Chapter 6 Focus on a Target Market: Hit Those Focus Mitts 75

How I Discovered My Target Market 76

Do You Have the Right Formula? 81

How to Discover, Establish, and Develop Your Target Market 84

Why Advisors Resist Having a Target Market 90

Remember, Stay Focused! 92

Chapter 7 Create (and Use!) Your Elevator Speech: The PEEC Statement^™ 93

Profession 96

Expertise 99

Environments 101

Call to Action 103

The Rules of the PEEC Statement 106

Sample PEEC Statements 112

Chapter 8 Business Cards Breed Business: And Other Rules of Networking^™ 115

Have Your Business Cards and Other Tools of the Trade 116

It is Never About You 119

Always Be Positive, Professional, and Respectful 120

Look the Part 121

Know about Contacts, Leads, and Referrals 122

Count Your Chickens and Eggs 124

Eat and Drink Strategically 124

Initiate Conversations by Introducing Yourself and Asking Questions 125

Have a Goal and a Plan 126

Listen More, Talk Less 127

Keep Your Eyes Focused on Your Conversation 127

Introduce Others with Passion 128

Implement a Time Limit 129

Intend to Follow Up 130

Terminate Conversations Politely 131

It’s a We Thing, Not a Me Thing 132

Get to Know: The Know, Like, and Trust Factor 133

Have Fun! 133

Part 3 Where to Go, What to Say, and Who to Meet 135

Chapter 9 Where to Go? Chambers, Associations, and Other High-Potential Events 137

Not All Events are Created Equal 138

Hard Contact Meetings 140

Soft Contact Meetings 142

You Can’t Just Show Up 153

Chapter 10 What to Say? How to Start a Conversation, Ask Good Questions, and Connect 155

What Prevents Us from Listening? 156

Four-Step Process for Active Listening 157

Initiate Conversations by Introducing Yourself and Asking Questions 159

Chapter 11 Who Will You Meet? The Faces of Networking 167

The Faces of Networking 168

People Seldom Change 175

Part 4 Special Topics 177

Chapter 12 How to Handle Awkward Situations: Forgetting Names and Other Weird Moments 179

How Do I Introduce Myself? 180

How Do I Introduce Others in a Conversation Without Being Rude? 182

How Do I Introduce Others and Walk Away? 182

What Should I Do If I Forget Someone’s Name? 183

How Do I Ask Someone for a Business Card? 185

How Do I Take Notes on Someone’s Business Card? 186

How Do I Know When to End a Conversation? 187

What If I’ve Done Something Embarrassing or Stupid? 189

Chapter 13 Knockout LinkedIn Strategies: Boom! 191

Step 1: Define Your LinkedIn Marketing Goals 194

Step 2: Pick Your Target Market on LinkedIn 195

Step 3: Create the Right Messaging for Social Media 196

Step 4: Tell Your Story to Engage People 197

Step 5: Optimize Your LinkedIn Profile to Five Stars 197

Step 6: Set Up the Right Networking Dashboards to Track LinkedIn Success 198

Step 7: Post Something of Value Each Day on LinkedIn 199

Step 8: Engage with Your First- and Second-Degree LinkedIn Network 200

Step 9: Reach Out Via Direct Message to Your LinkedIn Connections 200

The Bottom Line 201

Chapter 14 Generating More Referrals: Why Don’t You Get More? 203

Reasons You’re Not Getting Referrals 204

Knockout Ways to Generate More Referrals 210

Chapter 15 One-on-One Networking Meetings: How to PUNCH Up Your Time Over Coffee 219

Best Practices 221

Your PUNCH Card 222

Important Points to Keep in Mind 227

One-on-One Meeting PUNCH Card 230

Part 5 Developing and Implementing Your Networking System 231

Chapter 16 The Four Phases of Networking: Preparation, Presentation, Follow-up, Maintenance 233

Preparation 234

Presentation 240

Follow-up 247

Maintenance (OOSIOOM) 250

Chapter 17 What Now? 90-Day Goals: Putting Your “Daily Fight Plan” into Action! 255

Goals 258

Objectives or Tasks 262

Business and Networking Examples 263

Daily Fight Plan (DFP) 264

Daily Fight Plan^TM 267

Final Round 268

Acknowledgments 271

About the Author 273

Index 275

MICHAEL GOLDBERG is a networking expert specializing in helping financial advisors, brokers, agents, reps, product wholesalers, and other sales producers grow their business. His clients include Morgan Stanley, Merrill Lynch, John Hancock Investments, Northern Trust, Griffin Capital, SAP, Brother International, Rabobank, Guardian Life, Jackson National, State Farm Insurance, and Chubb. Michael is also a two-time TEDx speaker, a Certified Speaking Professional and an award-winning adjunct professor at Rutgers University.

Trust is essential to the success of anyone working in the financial services industry. Instead of relying on traditional marketing tactics to attract customers, financial advisors, brokers, insurance agents, bankers, and related sales professionals are far more likely to thrive when they focus on networking effectively. Cultivating relationships with prospects and clients to demonstrate why they should trust you with their money is essential.

In Knockout Networking for Financial Advisors and Other Sales Producers, author Michael Goldberg teaches readers how to do just that! This book provides techniques and insights you must know to avoid joining the 90% of financial advisors who fail out of the insurance and financial services industries within their first two years.

Michael is the ideal author to teach these lessons. Numerous organizations in the financial services industry have licensed his "Knock Out Networking" online program for use companywide. As a networking strategist, educator, and acclaimed speaker, Michael helps people like you develop the skills they need to consistently make the right impression on networking connections, centers of influence, and potential clients. Now you can take advantage of his expertise with this convenient and essential book.

Knockout Networking for Financial Advisors and Other Sales Producers teaches you how to earn someone's trust. It explains where you must go to generate prospects. It illustrates how you can leverage existing relationships to fuel future success. Most importantly, Knockout Networking helps sales professionals better understand that consistently applying the Knock Out techniques described in this book will boost their overall confidence. Apply the lessons found in this book to grow your business, and you'll soon be able to confidently and authentically promote your services (as appropriate!) to anyone you meet.

Praise for KNOCKOUT NETWORKING FOR FINANCIAL ADVISORS AND OTHER SALES PRODUCERS

"Michael's '6 Reasons to Network' should be the opening pages of every financial advisor/employee/team member handbook, as well as given to every graduating high school senior. It transcends business and if you read between the lines it is a path to finding, building, and fostering relationships. Thank you, Michael, for unlocking some of the most effective strategies in finding the people in our lives, that will change our lives." —Ed Deutschlander, CEO, North Star Resource Group, Past President, GAMA International

"Michael Goldberg has done a brilliant job turning the seemingly complex world of networking into an easy to follow, everyday occurrence by staying focused and having the correct mindset. Through his themes highlighted in this book of clear communication, relationships are a 2-way street, and learning 'how to talk to people', advisors and other sales producers can gain the greatest benefits of networking." —Frank Scalese, Managing Partner, Blue Ocean Wealth Solutions, a MA Mutual Company, President GAMA International

"I love Michael Goldberg and his unique understanding of what it means to network. If you are interested in growing your business in the very busy and complex world we live in, you must master the concepts of 'Knock Out Networking for Financial Advisors'. There is so much more to networking than having a drink with friends. There is a science to doing it right and when you do it right, it pays off in so many ways! I urge you to read this book and profit from Michael's concepts." —Harry P. Hoopis, CEO, Hoopis Performance Network, Hall of Fame Managing Partner, Northwestern Mutual

BOOST YOUR NETWORKING SKILLS TO BOOST YOUR SALES

If you're a financial advisor, broker, agent, planner, or banker in the financial services industry, you likely understand the importance of networking. That doesn't mean you know how to network effectively. If you're like many of your peers, you may struggle to not only meet prospects but to cultivate and nurture their trust.

Author Michael Goldberg proves that anyone can learn to network and grow their business. Throughout his career as a networking strategist, speaker, and educator, Michael has worked with such clients as Morgan Stanley, John Hancock Investments, Merrill Lynch, Griffin Capital, Northern Trust, Jackson National, Franklin Templeton, and Rabobank, helping their teams develop the skills they need to consistently attract more business (and keep the clients they already have). In Knockout Networking for Financial Advisors and Other Sales Producers, Michael Goldberg provides readers with the same lessons he's shared with industry titans, helping anyone become an expert at prospecting while building and maintaining client relationships.