Some skills that wholesalers employ really separate the men from the boys, the posers from the superstars, the wheat from the……well you get the idea.
One of those advanced skills is Forward Scheduling.
Picture this sequence of events:
- You have a great meeting with a high potential rep, for our purposes we’ll call him The Whale (TW). TW is in your Top 50 Prospects and you have every intention of converting them to superstar producer status.
- During the meeting you are asking great questions (and taking copious notes using your Advisor Data Sheet) about where the opportunities lie for both product placement and how to contribute to The Whale’s overall business.
- TW understands your PVP – Peerless Value Proposition® and is interested in partnering in your practice.
- As a result of this meeting you now have a number of follow up items that need to be completed for TW such as:
- Putting TW’s existing fund grid through an analytics program to test your funds.
- Running a hypothetical for an immediate income stream for a prospect TW will be seeing.
- Getting information about the availability of a portfolio manager to conduct a call for TW’s 20 best clients.
- Before you leave the office, you say to The Whale that, in addition to promptly handling the items on the to do list that require immediate follow up, you would like to schedule the next visit (the date of which you know courtesy of your Rotation Builder) to go through the fund grid and the associated analysis that you will run so you can talk through the results.
- You and The Whale are now scheduled for 4, 6 or 8 weeks out.
- You debrief the visit with your internal and give them the most pressing to do’s upon leaving TW’s office.
- You put your notes into SalesForce.com (or similar) and…
- You enter the dates of the next meeting in the forward schedule.
- Now it’s the internal wholesaler’s opportunity to leverage the benefits of the forward schedule:
- Internal calls TW to follow up on the pressing to do’s from the meeting that just took place.
- During the conversation the internal mentions to The Whale that they see the next appointment on the calendar and that they will be working on the analysis that the wholesaler promised, checking to see that The Whale doesn’t have any additional question or concerns.
- Internal mentions to TW that they will be back in touch shortly before the next scheduled meeting with the external wholesaler to cover any additional agenda items that TW might like to add.
- A week before the scheduled appointment with The Whale you send an email to confirm the appointment. Make it short and sweet:
Looking forward to the continuation of our discussion re your practice and how advancing the relationship with Foonman Funds adds to your bottom line.
As a reminder we’re meeting on Monday March 8th at 10:00 AM.
If there has been a change to your schedule please let me know as this time is reserved specifically for you.
Most importantly, if there is anything else that you would like me to be prepared to discuss when we meet please let me know.
World’s Best Wholesaler
To recap, the benefits of Forward Scheduling are:
- Less time spent scheduling, as a number of appointments with your best producers are preset via the last meeting.
- Tighter coordination with your internal partner.
- Keep your rotations/loops in good order.
- Maximize the potential of systems such as SalesForce.com. If your firm has no such system simply use a shared Google Calendar.
- Reminds reps that you’re working on their practice and their agenda (mostly) vs. the dreaded “show up and throw up” that too many wholesalers practice.
- Less pressure to fill the calendar the week before a trip.
- Allow your internal partner to help “clear the weeds” before your next in person visit.
Want to explore more techniques that will take your wholesaling practice from good to great?
Find out more about Wholesaler Masterminds Coaching today.