Looking to attract and retain new clients for your business? Whether you’re a therapist, coach, real estate agent, lawyer, consultant or financial advisor, you’ve probably experienced how difficult it is to attract new prospects — especially if you’re just starting out and can’t rely on referrals.
Nearly three years ago I was in the same position. After two decades of advancing in the field of public policy and government relations to the position of vice president for a global company, I was laid off. It was actually the best thing that ever happened to me. I hadn’t felt passionate about my job in a while, but I still had the yearning to learn new tricks and be challenged.
So, I decided to take the plunge and reinvent myself. It was the biggest risk I’d ever taken. Not only would I completely change industries, but also for the first time in my life I would be working for myself.
I launched a coaching business called The Options Lady where I’d teach women of all ages how to become successful investors in the stock market. I’d also become a licensed investment advisor and manage other people’s money for a fee.
But who in their right mind would hand over hundreds of thousands of dollars to an unknown financial advisor when experienced financial advisors are on every corner? How could I encourage prospective clients to seriously consider me? Anyone who has launched her own business starting with zero clients shares this fear.
Then I had an epiphany. I would write a book to get my name out there. Of course, I knew absolutely nothing about writing, publishing or marketing a book, so I began blogging about investing and personal finance just to get my feet wet.
When I was ready to write the book, I sat down and thought about my two strongest assets:
- Credibility: I have an undergraduate finance degree from the Wharton School of the University of Pennsylvania, and by saving and investing since I was 24, I built a $1 million portfolio before I turned 40.
- Passion: I realized my calling was to teach women how to become financially independent and empowered.
As I began researching this project, I was wooed by ads for “how to write a book in a weekend” and how to write and design an e-book for just a few hundred dollars. But when I thought about it, I decided that I should invest real money in order to write and publish a high-quality book. After all, I built my wealth by investing real money in the stock market and this time I was going to invest real money in myself. Many think of books as the new business card, but I wanted my book to be a reflection of my values, ethics, passion and expertise.
For the first time in my life, I signed up for a coaching program. At more than $5,000, it wasn’t cheap and required a lot of time. I would also need to spend additional dough on an editor, cover designer, interior layout designer and proofreader. I was apprehensive, but after I published the book, I realized it was worth every penny and more. As a finance gal, I like to consider my return on investment:
- My book became an Amazon best seller in three categories just four months after I published it.
- I landed interviews on local television networks and one on Fox News that aired nationally.
- I was invited to speak at conferences and seminars around the country.
- I was invited to become a paid contributor on Daily Finance.
- Because I self-published, my royalties from selling on Amazon are significantly higher than if I hadn’t taken the self-publishing course and worked with a traditional publisher.
- In just seven months after the date of publication, I sold more than 1,000 copies and negotiated a contract that resulted in the sale of 2,000 copies to TD Ameritrade, a leading online brokerage firm. (The course teaches you how to sell your books in bulk to major corporations and associations.)
The best part? New potential clients are now coming to me from all over the country! They’ve spent hours getting to know me and my strategies by reading my book and have decided they want to work with me — not just any financial advisor — to accelerate their wealth building.
If you’re serious about writing a book to attract your ideal clients, then don’t scrimp. Make an investment of time and money like I did. It’s crucial that you learn how to not only write your book, but also how to publish and market it.
Interested in learning more about the course I took? You can find more info about it on my website. It worked for me and it can work for you!
Laurie Itkin is a member of the DailyWorth Connect program. Read more about the program here.