Ep. 418: How to Close Every Deal in the First Meeting

Motivating Prospects to Act

Key idea: Rather than wait for a triggering event to cause people to reach out, financial advisors can create such events in the minds of their prospects and clients by pointing out the consequences of not acting now.

This week on Stay Paid, we host returning guest Erin Botsford, the founder and CEO of The Advisor Authority and the developer of the Elite Advisor Success System. As an advisor, she has been named to every category of Barron’s Top 100, and she’s the author of Seven Figure Firm: How to Build a Financial Services Business that Grows Itself.

Our conversation with Erin largely turns around two topics: her strategies for attracting prospects, and what she does to close every deal at the initial meeting. The first involves fully understanding and communicating her value proposition (there’s a huge lesson here). The second involves “disturbing” those at the table.

What if . . .

Erin describes her job as protecting people from the bad things that happen in life—not might happen, not can happen, but actually happen. And she has firsthand knowledge of the disasters that life can unexpectedly throw our way.

As a teen, Erin was involved in an accident that killed a man. She was close to going to prison, but not because she was guilty; it was because her family didn’t have the money to defend her in court. It’s this experience that put her on the path to a career in finance—she didn’t want others to suffer what she and her family had gone through.

Early in her career, her passion to protect others led her to become a financial advisor who was, what she calls, “unconsciously competent.” She didn’t understand what she was doing that enabled her to close every deal during her first meetings with prospects. But with experience, she came to realize what it was that got clients to sign on with her—asking them questions that made them think about the potentially devastating consequences of inaction. 

It’s important to note, and you’ll hear her discuss this in her interview, that Erin doesn’t engage in fearmongering; she doesn’t manipulate her clients with exaggerated, imaginary scenarios of danger. She simply protects them from events that can, and have, destroy lives. How she does that is her “secret sauce,” and you’ll discover her tactics when you listen.

Please enjoy this episode, and we’d appreciate it if you took a moment to leave us a 5-star review and comment on Apple Podcasts.

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