A Word from the Wise features expertise from industry-related professionals to put you at the top of your game.
When Stephen Stricklin founded Wise Wealth LLC, he was motivated by the desire to bring financial wisdom to his clients. A former teacher and counselor, Stephen understands the role knowledge plays in wealth management and preservation and wants to pass that knowledge on to his clients.
As a top producer, we wanted to learn insights about how Stephen utilizes his time to efficiently run his practice and more importantly, how he continues to grow it.
CreativeOne: What are your top three priorities when it comes to running your practice?
Stephen Stricklin: One, Don’t lose what you’ve got. Maintain key client relationships. Retain your current clients with excellent service and client events. Two, don’t get comfortable. Always be looking for ways—tools, methods and resources—to gain more ideal clients. Three, don’t put all of your eggs in one basket. Have multiple marketing/prospecting/branding strategies running simultaneously.
How do you split your time during the day to be the most efficient?
Work on yourself 10 to 20 percent of the time. This involves reading, growing, learning … and perhaps prayer and meditation. Work on your business 10 to 20 percent of the time. Think like a business owner: make marketing-expense decisions, develop personnel, plan for the future, whether it’s a month, quarter or perhaps the year ahead. Work in your business 60 to 80 percent of the time. Prepare for client meetings. Be involved in client and prospect meetings. Answer client/prospect email or phone questions.
What marketing avenues have you found to be successful?
Educational-based workshops (as opposed to seminar sales). It’s a longer process, but I tend to get higher quality prospects and clients.
What’s your advice for an agent looking to go to the next level?
Have a plan. Plan your business calendar based on what works for you. We think in terms of trimesters. You might break up your business into semi-annual or quarterly goals, marketing efforts and client events. Create a calendar strategy and work it!
You were recently featured at our Premier Producer Showcase. What did you focus on telling the attendees to help them in their quest for growth?
At the showcase, I talked about “barriers to growth” and the five things I did that elevated my practice, which included focusing on being involved in activities that were profitable, choosing an office location my ideal clients would feel comfortable in, hiring the right people the right way, becoming clearly defined with a specific process and philosophy and, finally, adaptive marketing. I also talked about the importance of segmenting clients. By doing so, this helps clearly define who your ideal clients are and also helps you to know how to prospect for more clients just like them.
To learn more about Stephen and Wise Wealth, visit his website.
FOR FINANCIAL PROFESSIONAL USE ONLY. NOT FOR USE WITH THE GENERAL PUBLIC. CP-0794 – 2016/06/15