Most Important Stat ? per week
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Meetings held
or
AFTO Ask for the Orders?
or
Contacts in general?
or
Thoughts?
Yeah thoughts are why people leave the industry…
I believe contacts are most important because they lead to everything else... I can't have a meeting without a prospect, and I can't ask for the order without talking to someone..The most important stats is assets raised. Contacts are right after that. I have watch a lot of people fail out of this business. The main reason they fail is that they do not have enough AUM, the reason they do not have enough AUM is that they do not make enough contacts. Contact lead to assets, but I think assets are more important. If you had a choice one of the following months, which would, you choose 840 new contacts and no new assets or no new contact and $1, 000, 0000.00 in new assets. I know I would choose the new assets.
I have a pretty good closing ratio at meetings; I’m amazed no-one has said the in person meetings are the most important stat.
Golfers keep track of their putts, greens in reg, whether they hit left or right when they miss etc.
You can’t improve what you can’t track.
I thought meetings were more important than contacts, but I just remember what my old boss used to say, "You can’t control the results, only the activity"
So I need to push for more contacts.
Thanks!
[quote=JackBlack]
The most important stats is assets raised. Contacts are right after that. I have watch a lot of people fail out of this business. The main reason they fail is that they do not have enough AUM, the reason they do not have enough AUM is that they do not make enough contacts. Contact lead to assets, but I think assets are more important. If you had a choice one of the following months, which would, you choose 840 new contacts and no new assets or no new contact and $1, 000, 0000.00 in new assets. I know I would choose the new assets.
[/quote] Chicken and egg. Assets are sort of the end game. The measuring stick. But it seems strange to say "I think I'm going to focus on getting more assets this month instead of contacts." The question really is...how do you get more assets? It also depends where you are in the game. If you are 6 months in, it's all about contacts (cold calls, cold walking, seminars, etc.). If you are 10 years in, then it should be about high-level contacts (existing clients, referrals, COI's, etc.) Now, if by saying this, you mean you prefer larger accounts over volume of smaller accounts, then that makes sense. You can open 1 $1mm/mo. with relatively few contacts. But opening 10 $100K accounts takes a lot of work, no matter how you cut it.B24:What you said is true. Contacts do lead to assets. Assets do not lead to contacts. I love talking to new people but I never go home and tell my wife I had a great day at the office I had 40 new contacts! I will go home and tell my wife if I have a good day rasing assets. Do I tract my contacts on daily basis, you bet I do. Do I tract the amount I bring in new asset on a monthly basis, you bet I do. When the rubber meets the road I can control the number of people I contact in a day, more dials = more contact. Thru the number on contact I make I can effect the number of assets I gather. So I guess I change my mind contact over assets.
[quote=JackBlack]
The most important stats is assets raised. Contacts are right after that. I have watch a lot of people fail out of this business. The main reason they fail is that they do not have enough AUM, the reason they do not have enough AUM is that they do not make enough contacts. Contact lead to assets, but I think assets are more important. If you had a choice one of the following months, which would, you choose 840 new contacts and no new assets or no new contact and $1, 000, 0000.00 in new assets. I know I would choose the new assets.
[/quote] Agree but you don't get the assets without the contacts(walk-ins are rare)