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4 Steps to Successful Specialization in Your Financial Services Business

IBusinessman drawing steps conceptn last month’s newsletter, we discussed how you can determine, describe, and discover your ideal clients for a win-win relationship. In this month’s article, now that you are clear on your ideal clients, it’s time to figure out exactly what YOU bring to the table that will attract your ideal clients to you.Step 1: Consider your background and experience. What kind of work have you done during the time you have been in the industry and even if you were in another career before, what did you do before entering the financial services industry? Showcase your current and any relevant prior experience in building your credibility for what you do today. Your professional work experiences combined will give you insight into the areas you could specialize.

Step 2: Review Your Education: What degrees and certifications do you have? Your education can help you not only differentiate yourself, but also help you determine an area of specialization.

Step 3: Look at Best Client Results: In what areas have your clients seen the best results? Has it been in wealth acquisition? Investment management? Retirement planning?  Employee benefits? Or something else? When you can show many successes in a particular area, that’s a key to where you might choose to specialize.

Step 4: Remember Your Favorite Clients: This is a personal issue, but an important one. No one wants to work with people that they don’t resonate with. Life is more fun and a lot less stressful when you actually enjoy spending time with your clients. So look at the clients you have appreciated working with the most and what it was they needed, and that will also help you determine where to specialize.

Pull each of these four aspects together and you’ll be on your way to highlighting your specialization for your business!

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