{"id":12312,"date":"2011-09-14T02:06:48","date_gmt":"2011-09-13T16:06:48","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=12312"},"modified":"2021-04-15T10:18:50","modified_gmt":"2021-04-15T00:18:50","slug":"ten-principles-of-business-transition","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2011\/09\/14\/ten-principles-of-business-transition\/","title":{"rendered":"Ten Principles of Business Transition"},"content":{"rendered":"

The ClearFlyte Academy<\/a> has recently released\u00a0the final in its Ten Principles of Business Transition<\/em> email series for advisers.<\/p>\n

The Ten\u00a0Principles of Business Transition are designed for\u00a0advisers seeking to evolve their practices from commodity\/product based propositions to specialised advice firms that are able to charge a fee for the range of services they provide and that can prosper in a post FoFA environment.<\/p>\n

The final Principle in the series, Principal No 10, is:<\/p>\n

Teach and coach first, then sell<\/em><\/p>\n

According to ClearFlyte’s founder, Mark Westcott<\/strong>, most entrepreneurs know how to sell, but the issue with just selling is that the customer does not always understand why they need to buy the\u00a0product or service.\u00a0 Mr Westcott says this is why it is important to educate (teach and coach)\u00a0your client first, before closing the sale.<\/p>\n

“If your prospect understands what you do, how you can help eliminate their dangers and that you have a clear process through\u00a0which they will be taken, they are more likely to buy.\u00a0 And buy at a premium price,” says Mr Westcott.<\/p>\n

\u00a0Summarising ClearFlytes’ Ten Principles of Business Transition:<\/p>\n

    \n
  1. Make your marketing all about your customer, not about you<\/li>\n
  2. Figure out what people want and need and give it to them<\/li>\n
  3. Always market something new<\/li>\n
  4. Be a lot different, not just a little different<\/li>\n
  5. Communicate one single message over & over<\/li>\n
  6. People want a choice<\/li>\n
  7. People buy based on emotions<\/li>\n
  8. If you charge more, people will want it more<\/li>\n
  9. If your product is exclusive, people will want it more<\/li>\n
  10. Teach and coach first, then sell<\/li>\n<\/ol>\n

    These Principles form the basis of Mr Westcott’s\u00a0upfront fee-for-service Estate Planning process,\u00a0called The Peace of Mind Plan.\u00a0 He says he and his team\u00a0created this\u00a0process in order\u00a0“… to stay relevant and valued by the customer, regardless of legislation and commission structure changes or how the digital age will change our industry.”<\/p>\n

    Advisers and licensees can click here<\/a>\u00a0to access more information on ClearFlyte’s Ten Principles of Business Transition.<\/p>\n","protected":false},"excerpt":{"rendered":"

    The ClearFlyte Academy has recently released\u00a0the final in its Ten Principles of Business Transition email series for advisers. The Ten\u00a0Principles of Business Transition are designed for\u00a0advisers seeking to evolve their practices from commodity\/product based propositions to specialised advice firms that are able to charge a fee for the range of services they provide and that […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,5],"tags":[],"class_list":["post-12312","post","type-post","status-publish","format-standard","category-general","category-services"],"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/12312","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/comments?post=12312"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/12312\/revisions"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=12312"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=12312"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=12312"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}