A Newsletter for the Friends and Clients of Turning Point, Inc. Sept 2008, v.1


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PRACTICE MANAGEMENT News You Can Use
This issue's article is by Joseph J. Lukacs, Business Coach and the founder of International Performance Group LLC., a professional business coaching company delivering customized coaching and training.

“Maximize Your Networking” Chapter Five, Part Three

(from Chapter five of his new book, Practice Power - 12 Steps to Take your Business to the Next Level, reprinted by permission)
by Joseph Lukacs

Do Your Homework
An important aspect of preparing your networking plan is due diligence. Never jump in and join a group without gathering background information on the organization. Here’s what I do:
 
Step #1: I find a group that I think I would want to be a part of. My next step depends on whether I have a client who is recommending me or I am seeking this out on my own. If I have a client recommending me, I ask that person to allow me to come as their guest for several meetings to get a sense as to how I would be accepted. I find out who are the players there, how many competitors I have there and what the power base is like.
 
Step #2: I call several board members and introduce myself, letting them know I am thinking about membership and asking how this particular organization has served them. I also ask what impact they feel they have had on the organization.
 
Calling before you become a member sets you apart from the rest of the pack. You will already hold a place in their minds when they finally meet you face-to-face at one of the meetings.
 
Step #3: I then take a look at the organization’s competitors and the quality of their membership. I mention this because it may take a year after joining a group before you can measure any results. You have to be very active, take a high profile position, and really give. You can’t join a lot of groups because, eventually, it will leave time for little else. The flip side of the coin is that without spending enough time in the group you do decide to join, after two or three meetings you will become convinced networking doesn’t work for you because you’re not getting anything out of it.
 
IMPORTANT: Most effective networkers will tell you it takes a minimum of a year to develop the kind of relationships that makes networking shine. That is why, strategically, it is extremely important to choose wisely and have a due diligence process.
 
Always pay close attention to new members because, once you have joined a group, I want you to align yourself with the newer members because they are seeking the same thing you are seeking. For example, it is natural when joining a new group and being introduced into the mix to feel out of place. You may even believe that everyone thinks you have joined merely to improve your business. My response to this comes in the form of a question. Why do you think everybody else has joined that organization? The professionals, the CPAs, the attorneys—why do you think they are there?
 
For the same reasons you are, which is to network, to meet other people and to play the networking game. Never lose sight of that, which is another reason to align yourself with some of the newer people. They haven’t established themselves either and you can actually buddy up which can be a tremendously strong relation ship-builder.
 
Study the long-term members. Are they in cliques? Do they run in certain groups? This is very important to look at because it may be more challenging to penetrate those groups. This is another reason why I want you to spend more time with newer members and possibly develop a little clique of your own — one where you could establish yourself as its leader.
(more in our next issue….)
 
Author's note: Joseph J. Lukacs, Business Coach, is the founder of International Performance Group LLC., a professional business coaching company delivering customized coaching and training, by telephone, to financial and insurance professionals. International Performance Group LLC. is based in Melbourne, Florida. Joseph can be reached at 321-255-2889, by e-mail to JJL@jpginc.net, or visit our Web site: http://www.jpginc.net
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                        This Month's Registered Rep Opportunity

Advisors choose this B/D because they do things differently. They provide you with a choice of business models. They champion the right of every advisor to make his or her own decisions. And they treat you as their client, because its the best way theyve found for you to achieve your goals.

Gain complete control of your practice.
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No account size restrictions.
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In March 2007, BusinessWeek magazine named this firm a customer service champ. Through innovations in technology, employee training, and customer-centered strategies, the service leaders on BusinessWeek's list don't just meet customer needs but anticipate and exceed them.

Transition
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If you know anyone who would be interested in this or other rep opportunities, please have them contact Jason at 727-725-8876!

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Here are some additional opportunities from Turning Point, Inc.:

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TURNING POINT in the MEDIA!
Turning Point's President, Mitch Vigeveno, was recently quoted in Elizabeth Festa's new Investment Advisor article, "Springtime for Brokers" (Aug08).  Click here to view.

TURNING POINT Partnership
Turning Point's President, Mitch Vigeveno, is a Consulting Fellow with Tiburon Strategic Advisors.  CLICK HERE to sign up to receive the Tiburon Research Releases.

Quote of the Day:
"Take your life in your own hands and what happens? A terrible thing: no one to blame."
Erica Jong
 
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