Golf Prospecting

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Nov 27, 2006 1:46 pm

For more established rep, still wanting to meet new prospects with money,  does anyone have any neat golf prospecting ideas. Just joined a private club (thinking about spring golf) but want to keep low key and gradual with the members. Anyone just  calling small biz owners and asking them to golf/a nice lunch?

Nov 27, 2006 1:50 pm

There are a lot of small biz owners that want to learn how to golf but don't yet know how, and are embarrassed to go out with a more experienced golfer.  How about a "Golf Training session" at your club, or something like that?

Nov 27, 2006 1:53 pm

Great idea - low key, "safe" way to have some fun and learn a little. I'm thinking I can start calling now for spring. Maybe even lunch over at the club now, before the nice weather.  Thanks for the idea.

Nov 27, 2006 1:55 pm

Freedom, do you work with sbos?

Nov 27, 2006 9:21 pm
tenthtee:

Great idea - low key, "safe" way to have some fun and learn a little. I'm thinking I can start calling now for spring. Maybe even lunch over at the club now, before the nice weather.  Thanks for the idea.



Two things-

One-be careful that people don't think you're trying to lord over them the fact that you have a membership at a club...have to make them feel comfortable not intimidated.

Two-DO NOT I repeat DO NOT prospect at your home club.  People bought memberships there to relax and enjoy the company of friends.  There are most likely others in our profession who have already been long time club members.  Some of them are nice and others are annoying "card pushers" that members avoid at all costs.  If you aren't careful, you'll be classified as one of them.  Don't sh*te where you eat.  Enjoy it in your personal time, and use it as a tool to entertain prospects from outside the club.

Nov 27, 2006 11:50 pm

Yep, thanks Joe dah. Already heard about some card pushers. Agreed, lording the membership would be really tacky. Good perspective.

Nov 30, 2006 1:35 pm

Go to your new club by yourself.  Tell the guy at the first tee with the schedule that you'd like him to put you with a two or three-some.  Have a great game - ask people you golf with what they do for a living.  Never hand out a card unless they ask, never tell people what you do unless they ask.  Repeat as necessary.


Ultimate win:  Influencial people on the golf course like you and begin to introduce you to everyone else at the club. 

Nov 30, 2006 2:23 pm

Apprentice - you say what my instincts tell me. Have been working on my game to get to this point. Thanks for the validation. I like your signature.

Nov 30, 2006 8:35 pm
tenthtee:

Apprentice - you say what my instincts tell me. Have been working on my game to get to this point. Thanks for the validation. I like your signature.



I've been doing much the same thing, and am only about 6 months ahead of you.  It's amazing how having access to the practice range and unlimited balls can help your game, if you only take advantage of it.

Have made a few interesting friends.  Not rushing into anything.

Did have an interesting conversation this summer with an obviously wealthy long-time member of the club-We were sitting at adjacent tables on the terrace.  We'd finished dinner and they were just starting, and my kids were coming and going from the table.  He'd commented when we got our meal that my order looked great, and was asking what it was.  He'd introduced himself and we chatted blah blah blah.  So, as I'm having coffee and he was waiting for his meal, he asks "What do you do?"  I said "Well I'm a financial advisor."  He said  "Well there's certainly a lot of "you guys" running around here.  I just smiled and nodded and said, "Yep, that's why I keep a low profile and don't make any big deal of it."  He chuckled, and says, "Well who do you work for?"  Me: "Well, actually I'm in private practice and I own my own firm."  "Oh really?"  (raised eyebrow).  We didn't talk about it any more, but I know I made a strong impression in his mind, and he doesn't think of me as an insurance salesman or "just a broker" any more.

It's not easy, because it's a very patient, long-term approach.  But, I think that's how you have to do it in a club community like that.

Dec 1, 2006 9:58 pm

That's good, Joe. We can compare notes over time.


Let's face it, chemistry is about 85%. I'm sure our staying power, and low-key "contrarian" approach, will result in some business.


But no matter how you spend time with people, if you show them who you are, and if they know what you do, good things happen if they're supposed to happen.


And all that swinging, all those range balls, really help the game, so one can fit in properly. I am finding just smiling and saying hello to other members is rewarding.


A guy I golfed with recently gave me a report on the other "brokers". One guys takes a minimum of 1m, and does "seminars" at the club. Another makes a big deal out of being RIA.


I told him, I'm just the neighborhood guy. ( I am a low cost producer at a solo b/d office).


I'd be thrilled to get one client in the first year. But they are gonna have to beg me to do business. With a 15+ year time frame, and an established practice,  golf is first and foremost.

Dec 2, 2006 10:01 am

I used a little different twist on the golf.



We have several high end courses around here. I made a deal with the pro at

one of the closest of these to put on a golf clinic once or twice a month.

Most of my clients, being retired, are golfers. I'd invite them to bring their

foursome out to the clinic ostensibly set up that week for them. The client

gets to look like a big shot to his friends ("I'm such a high roller that my

broker does this for me!), and I'd get to prospect while learning to correct

my slice.



And it's deductable!

Dec 2, 2006 4:44 pm

That's an original idea, Starka. 


Unfortunately, my game requires an exorcist, a voodoo doctor, and signed "liability releases" from those lining the fairway. I make former President Ford look like Tiger Woods. (Note: For those brokers who weren't around during the '70's, President Ford was a lousy golfer who frequently struck bystanders, much like VP Cheney on a hunting trip.)


I get extremely nervous if homes line the fairway. I've been known to bounce balls off roofs, patio furniture, etc. No broken windows or dented cars....yet. I once landed a ball in the middle of a family reunion; luckily no one was hurt.


From the South Georgia Branch Office of Dirty Tricks:


Has your ex-B/D stiffed you? Has a competitor dragged your name thru the mud? Want revenge?


Here's an idea, if you want to cause headaches for those who have done you wrong. First, find out what country clubs the brokers belong to. Then have balls printed with their name, phone number, and logo. Then go out to that country club and smack those balls into people's yards, windows, cars, etc. and run like heck.


Guaranteed to give your enemy (ies) fits!

Dec 4, 2006 3:32 pm

Nice, Starka. I really like the idea of bringing the rest of the foursome. Sounds like you stopped doing this - care to elaborate on how long you did it, and the approximate business results.


Doberman, here's a slightly stupid variation on your competitive idea. I'm going out alone and ramping up my skills - all winter. The course is soggy and cold here, and the days are short. Near the end of the day, with cart, and I can play nine holes in a very short time. I don't shag the balls that stray very far - leave them lying around for someone else. If the balls were good enough, I could put my own logo for free advertising. It might not be good advertising at the private club, though, not sure how clubby affectionados feel about hitting another man's balls.

Dec 4, 2006 8:53 pm

I did the golf thing for about a year, and the results were surpisingly good.

It accounted for around 3 million in assets. I stopped because the truth is I

hate golf, and decided to focus on more profitable demographics, in areas

that are more in tune with my interests.

Dec 5, 2006 5:11 pm

Great #s, Starka. Glad to hear you got more aligned. You inspire to keep spend my golf time more constructively.

Dec 16, 2006 5:47 am
joedabrkr:
tenthtee:

Great idea - low key, "safe" way to
have some fun and learn a little. I'm thinking I can start calling now
for spring. Maybe even lunch over at the club now, before the nice
weather.  Thanks for the idea.



Two-DO
NOT I repeat DO NOT prospect at your home club.  People bought
memberships there to relax and enjoy the company of friends.





100% pure meat on that point. People are there to play golf, not buy VUL.

Dec 16, 2006 5:49 am
Starka:

I stopped because the truth is I
hate golf,





And I'm not too fond of golfers either. This one of those things were
you have to make a choice, and admit that you are sacrificing money for
good feelings.




Jul 15, 2010 3:43 pm

Anyone want to BS a little about golf, I'm game.

Jul 15, 2010 3:59 pm

Hmmmm.