Find your niche: whatever practice type you choose in financial services, you should enjoy it. People often conclude that they will enjoy what they do once they become successful. In my experience you are more likely to become successful when you enjoy what you do. The best part is, if you love what you do, it doesn’t feel like work.
If you don’t love it, change it: Too often people search for a practice type that they think will make them the most financially successful. They do this without considering two important points. First, will they enjoy the activities required to make them successful in that niche? Secondly do they have or can they acquire the skills necessary to succeed? If you enjoy the work, you will figure out how to succeed. If all you like about the work is the potential pay-off, then it’s a much bigger challenge to acquire the skills for the work.
To find happiness in the office, you may need to make a change. First figure out what part of your job you love the most – whether that be a specific product, planning type, market place or profession – and make yourself the most knowledgeable person on that aspect. This is how you can start to build your brand around your new specialization.
This approach works irrespective of the motivation for change. Sometimes we change proactively and sometimes we change in response to external pressures like regulatory change, but whatever your reasons are for changing, here are a few tips that can help you find the niche market for your brand.
How to build a brand
- Become an expert. Learn as much as you possibly can about a specific product, planning type, market place or profession.
- Share your knowledge. By contributing to media articles, industry speeches, white papers and more.
- Train other financial services reps. This may seem counter intuitive, but if you are perceived as a teacher instead of a student then you’re perceived as the expert.
- Get involved in the activities of the people to which you are marketing. Community building helps you to be engaged in a way that creates a touch point that doesn’t involve selling. This is not actively prospecting, but rather a great way to get to know people that could ultimately lead to business.
A few ways to create awareness in your community include: With the media: This can be via social media like Twitter, LinkedIn or Facebook, or traditional media like your local community newspapers. Be sure to engage your compliance department and public relations departments before you start to ensure you are not going against any restrictions they may have in place.
Brad is an active volunteer in the community spending the bulk of his time supporting causes serving children and adults with special needs.
Brad is a 25-year MDRT member with 15 Court and 1 Top of the Table Qualifications.
Latest posts by Brad Elman, CLU, CLTC, MDRT (see all)
- Technology Tips and Upgrades for Producers Operating on a Budget - August 23, 2017
- How to Find Your Niche and Build Your Brand - October 25, 2016