New to Outsourcing - Help growing my business
Hello All!
I have recently started my outsourced paraplanning business and I have a few clients at the moment. I don't charge a retainer and I conduct all the work myself - for the time being.
I am trying to grow my business and recruit more advisers to use my services - other than selling my soul and cold calling local IFA firms, does anyone have any advice?
I have utilised all my existing contacts in my network and I really want this to work long term.
All the best.
Lauren
Comments
I'd say there is nothing wrong with ringing round a few firms, I think more would be open to it than you'd think. Perhaps utilise Linkedin and try to attend some of the IFA conferences (could even limit yourself to just the free ones) and try to network there.
LinkedIn is a good idea, and I also picked up a client on Facebook fairly recently. I tried cold calling and didn't get much luck that way (but then I really hate doing that anyway, so maybe that was part of the problem!).
I'm on the paraplanner directory, and have had some enquiries on there, and my website has a contact form, through which I've also had some enquiries.
My most recent client acquisition was a company that I had an interview with around 4 years ago. They offered me a job which I declined, but they clearly didn't hold it against me! Maybe that could be an option - speak to companies you had interviews with in the past (if you keep records like that?).
If you left on good terms, previous employers may be a good shout, as more and more companies are finding it increasingly difficult to employ in house paraplanners; it's very much a jobseekers market currently.
You could speak to your existing clients as, although a lot of IFAs tend to be quite insular, they may have contacts they could introduce you to.
You will also find that being in the right place at the right time helps - that is how I picked up my first client. I was a client of theirs, and happened to mention in passing what I was doing. They said that they would like to have a chat with me, and long story short, they became my first client, nearly three years ago.
The very best of luck to you!
Ask existing clients for referrals, comment lots on forums, try and get some press work (they alway looking for fresh souls so be careful), speak to brokers/platforms/providers you have a good relationship with, plus give it time and if it’s quiet enjoy the peace.
One alternative is also to sub contract from others Paraplanning firms as this also gives you a look at how others do it and means you can earn some supplemental income as well.