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The coach that will enable you to at least double your revenue, retain your key clients and have a saleable business that others will only envy. You’ll hear how implementing a multi-family office solution to your business will produce income that you can now only dream of, deliver you a strategy for key client retention and ensure that you have solidified relationships with the clients you want and can’t afford to lose.
Episodes
Thursday Apr 08, 2021
WHAT ARE THE ATTRIBUTES OF A FAMILY OFFICE CLIENT?
Thursday Apr 08, 2021
Thursday Apr 08, 2021
WHAT ARE THE ATTRIBUTES OF A FAMILY OFFICE CLIENT?
What traits you need to look for when deciding on the suitability of a Family Office client for your business.
At Generational, we identify the following attributes or we don’t proceed with the family as a client.
• No. 1: Delegators
• No. 2: Time poor
• Pride in establishing a legacy | purpose
• A desire to make a difference to the betterment of others
• Seeking security for what and who is important to them
• Are interesting people - living and people are more important than money
• Value integrity
• Social inclusion - committed to playing a role in empowering individuals to participate as fully as possible in society
• Enjoy simplicity and freedom that comes from having all their financial issues under the watchful eye of a corporate trusted advisor
• A necessity to hear the truth
• Value the collaboration of professionals working together for their purpose; and
• Appreciation of time saving and reduction of grief that Management Team meetings provide.
Why selecting the wrong prospect hurts?
• The capacity of your business will be eroded with a relationship that both parties don’t want to be in
• You can’t undo a family office easily nor quickly
• At Generational our success to date has been 100% aligned, engaged and wonderful clients – this is no luck. If you have ANY doubt, don’t proceed
• My three G’s of business | life: Grateful | Grumpy | Greedy (you don’t want your business, yourself, your family nor your staff dealing with a greedy client
Referrals: there’s a difference between grateful and thankful
• A Patriarch &/or Matriarch who are:
o happy with living their lives, having created a legacy; and
o knowing that their eulogy will be aligned with what their values and purpose will be GRATEFUL and your best referrers
• A client being thankful is nice, cute, and financially rewarding but well short of the emotional beauty and richness of a grateful client.
Being grateful is about appreciating what one has (this is a Family Office client), as opposed to what one wants (a prospect who wants what a Family offering delivers but doesn’t want to pay for it)
Being thankful implies thanks for something that someone has given you (this is typically a transactional-based relationship).
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