What industries do you focus on?
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Thomas Stanley has told us (and many have repeated on here) that those who do best marketing/selling to the affluent are the ones who choose to do business within certain niches or business industries. Have you gone this route? What niches have you chosen? Did you try any that failed initially?
I’m choosing to focus on the mortgage and construction industries as, next to being an FA, I enjoy real estate.
[quote=ManDate]Thomas Stanley has told us (and many have repeated on
here) that those who do best marketing/selling to the affluent are the
ones who choose to do business within certain niches or business
industries. Have you gone this route? What niches have you
chosen? Did you try any that failed initially?
I’m choosing to focus on the mortgage and construction industries as, next to being an FA, I enjoy real estate.[/quote]
Have you thought about targeting the Gay and Lesbian community?
[quote=ManDate]I'm choosing to focus on the mortgage and construction industries as, next to being an FA, I enjoy real estate.[/quote]
...good luck trying to convince those types to diversify beyond real estate and spec houses...
My focus is those with at least $250K to invest and aggressive anough to want more than CDs. I don't think my market is big enough to specialize beyond that and I'm not ready to limit myself, so long as I feel like I have a good rapport with the client.
[quote=AllREIT][quote=ManDate]Thomas Stanley has told us (and many have repeated on here) that those who do best marketing/selling to the affluent are the ones who choose to do business within certain niches or business industries. Have you gone this route? What niches have you chosen? Did you try any that failed initially?
I'm choosing to focus on the mortgage and construction industries as, next to being an FA, I enjoy real estate.[/quote]
Have you thought about targeting the Gay and Lesbian community?
[/quote]
I have. And I think it would be FABULOUS!!!
[quote=Indyone]
[quote=ManDate]I'm choosing to focus on the mortgage and construction industries as, next to being an FA, I enjoy real estate.[/quote]
...good luck trying to convince those types to diversify beyond real estate and spec houses...
My focus is those with at least $250K to invest and aggressive anough to want more than CDs. I don't think my market is big enough to specialize beyond that and I'm not ready to limit myself, so long as I feel like I have a good rapport with the client.
[/quote]
Actually, I should have been more specific...the workers inside of the industry of residential construction mainly....purchasing agents, VP marketing & sales, VP operations, CFOs, CEOs, division presidents, construction managers.
[quote=ManDate]
Actually, I should have been more specific…the
workers inside of the industry of residential construction
mainly…purchasing agents, VP marketing & sales, VP operations,
CFOs, CEOs, division presidents, construction managers.
I would completely ignore this segment, because by 2H07 the real estate
deflation will be in full swing and these people will be out of work.
http://www.thehousingbubbleblog.com/
[quote=AllREIT] [quote=ManDate]
Actually, I should have been more specific...the workers inside of the industry of residential construction mainly....purchasing agents, VP marketing & sales, VP operations, CFOs, CEOs, division presidents, construction managers.
[/quote]
I would completely ignore this segment, because by 2H07 the real estate deflation will be in full swing and these people will be out of work.
http://www.thehousingbubbleblog.com/
[/quote]
Are you SERIOUS? Wow.
OK, that was too sarcastic. I apologize.
Um, seriously...that is EXACTLY why I am targeting them (and i have a very specific call list from this industry longer than a North Carolina tobacco row). Ever hear of a 401(k) rollover?
[quote=ManDate][quote=AllREIT] [quote=ManDate]
Actually, I should have been more specific...the workers inside of the industry of residential construction mainly....purchasing agents, VP marketing & sales, VP operations, CFOs, CEOs, division presidents, construction managers.
[/quote]
I would completely ignore this segment, because by
2H07 the real estate deflation will be in full swing and these people
will be out of work.
http://www.thehousingbubbleblog.com/
[/quote]
Are you SERIOUS? Wow.
OK, that was too sarcastic. I apologize.
Um, seriously...that is EXACTLY why I am targeting them (and i have a very specific call list from this industry longer than a North Carolina tobacco row). Ever hear of a 401(k) rollover?
[/quote]I fully expect that at least one of the major homebulders will go BK by 2009. It's getting to be really bad with home sales. Huge amounts of unsold inventory mean that people can't sell their old houses to move into new houses. Meanwhile forclosures, short sales and newbuilding continues. This spring, the wheels will fall off.
Go look at bloomberg and see what people like Ara Hovnanian are saying.All this is playing over a constant theme of forclosures and toxic loans. Skills from the housing industry, do not translate well to other things.
I expect people will be drawing down thier 401(k)s because alot of these people have been drinking the real estate kool-aid for the longest time and it won't end nicely. Again see the housingbubble blog.
[quote=ManDate]Btw…what industries do you focus on?[/quote]
Me? University educated people, Ivy league types.
[quote=AllREIT] [quote=ManDate]Btw...what industries do you focus on?[/quote]
Me? University educated people, Ivy league types.
[/quote]
That's awesome! How do you find people in such a targeted niche? Do you go on the campuses to make sure they have the requisite educations? I have heard you can sometimes find fraternity lists online...have you ever used this? Sounds like a great pool of prospects though. But didn't Stanley say those types frequently aren't the ones with big $$$?
[quote=AllREIT]
[quote=ManDate]Btw…what industries do you focus on?[/quote]
Me? University educated people, Ivy league types.
[/quote]
I tend to focus on people with money to invest…
[quote=joedabrkr]
[quote=AllREIT]
[quote=ManDate]Btw…what industries do you focus on?[/quote]
Me? University educated people, Ivy league types.
[/quote]
I tend to focus on people with money to invest…
[/quote]
[quote=joedabrkr] [quote=AllREIT] [quote=ManDate]Btw...what industries do you focus on?[/quote]
Me? University educated people, Ivy league types.
[/quote]
I tend to focus on people with money to invest.....
[/quote]
What kind of money do you look for?