Women? Why Women?

Women Rule: My Client Strategy

Focus Focus Focus

No matter what industry you are in, you need to have a clear focus on your ideal target customer. Does this mean that 100% of your revenue will be derived from this group? No, but without a focus your overall strategy will be cloudy at best.

And before your hand is poised on the send button of an argy email, I will boldly say that my ideal clients are women business owners. Now if you own your own business and you are a man, that’s okay we can talk but let me explain my reasoning.

Where It All Began

My career began in the banking industry. I loved it but wanted to expand my franchise and help more people one-on-one. I have narrowed my target while expanding my solutions for clients.

The genesis of my target comes from research done by a colleague at Manulife Financial back in 2002. It also comes from attending various business building workshops over my twenty-one years in the financial industry.

A good friend of mine who is a sales representative for one of the companies I promote forced me to answer some questions last week. He wanted to know about my focus and ideal target client. If you were to look at my practice, my answer would be rather apparent but it made me think a lot clearer.

Here’s what transpired.

Business owners: They understand risk as they have had to take a great level in it, in building their own business. They also don't have time to worry about their investments, Insurance, RRSP, TFSA, RESP, Disability, Buy/Sell Agreement, Taxes etc.

Business owners need to focus on their business. I focus on helping them build a solid foundation.

Women: My mom raised me by herself. She remains my hero. Her strength created the backbone of my life as a husband, a father and a business owner. It is her continued wisdom and grace that has given me the tools to have stronger business interactions with women than men.

Hang on! Don’t send the email just yet!

I did mention earlier that this is about target and ideal customers, I have plenty of male clients and the fact that I play hockey a minimum of four times a week gives me no shortage of testosterone laden activities. But I have a much easier initial comfort level talking business with women.

Manulife Financial recently did research on this subject. These are generalizations as with any research but the results were fascinating.

A woman is more loyal. When a man hears about the next big thing going that will make him a pile of money, he runs and jumps at it without much thought. His greed takes over and he is gone.

A woman will think it over rationally, weigh the pros and cons and then make a decision. More often than not, that “next big thing” slows down quickly and is not much more than another dead end speculation.

A woman will actually listen and if they don't understand something, get this, they ask! Most men are too proud to think that they don't know everything, which causes a lot of nodding and a search for that next big thing.

A woman will take her time to completely understand and educate herself on what is presented to her. This builds loyalty and that "benefit of the doubt" factor. I take this responsibility very serious because it is founded on trust and once you break that, it’s over.

A woman will do her research and ask questions about what she has found rather than jumping on another speculation. Patience gives her a more solid foundation, she is secure in the knowledge of what she is investing in and her patience usually pays off.

A woman can sense a fake. It’s not called woman’s intuition for nothing, it is a reality. If she feels she is being conned, she is gone and she’s usually right. Most men you can tell them what they want to hear but they are not listening to the details. This causes issues down the road when you have to explain things like market fluctuations and average return on investment. A woman already gets it.

I have had great husbands for clients and not their wives. I did a great job for the husband, made him some great returns, gave him great service but it seemed to push the wife away from becoming a client. It seemed to create a bigger wedge between them in their financial lives.

Conversely I have had wife clients, did a great job for them, great service and respectable returns; and the husband doesn't want to be left behind so he becomes a client as soon as he possibly can.

So my ideal client is a woman business owner looking for help, that I can help, who wants to learn and be a part of the process. Go ahead, send your email, I’d love to talk with you about helping your financial future.

How can I help you?