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Find Your Why and Price Accordingly with Sean Nisil – 020
Sean Nisil is a fee-based financial advisor, whose mission is to help people to live their ideal life now and in retirement.
What is the most important thing you can share about pricing?
* Clarity: What am I, as a service professional, going to be providing and setting the expectation clearly.
* Compensation as a financial advisor can be commission or fee-based.
* The fee-based model allows the customer to understand the service being offered, how much it will cost and what the value is they will receive.
* Commission-based fees can cause a conflict with your customer's best interest.
* As the customer succeeds, so does the advisor. If the customer doesn't succeed, neither does the advisor.
* Registered Investment Advisor (RIA) practices take the value pricing model and overlay it on the financial industry.
* Fee-based pricing is a competitive advantage in the financial industry if you are in it for the long-haul.
How do you help customers in a value pricing conversation?
* Ask good questions: What are your pain points when it comes to retirement?
* Talk about goals and your ideal life. If you can't fund the ideal life, you simply aren't going to get there.
* Number one rule: spend less than you make.
* People like choices. It puts the customer in the driver's seat and allows you to work together as a team.
* Part of serving is having the money conversation.
* Remind the customer of the service you are providing and the value that you are creating.
How do you advise those who are timid about pricing?
* When you charge what you're worth, it will increase the quality of your customers.
* When you are timid about delivering a service, you can undercut what you're worth.
* If you aren't being paid what you're worth and you're in cash-flow crisis, you will not be around to serve the customers you are serving right now.
* If you don't know why you are in business or you don't know the value you are providing, it will be hard to have a value conversation with your customer.
* If you're having doubts about implementing value pricing, Start With Your Why (Simon Sinek).
* You need to have a mission statement – both business and personal.
About Sean Nisil
* 8 years experience in financial planning
* Contributor to FaithDrivenBusiness.com
* Theology major in college
* RetireMeASAP.com
* LinkedIn: Sean Nisil
* Twitter: @SeanNisil
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By Kirk Bowman
4.9
3838 ratings
Sean Nisil is a fee-based financial advisor, whose mission is to help people to live their ideal life now and in retirement.
What is the most important thing you can share about pricing?
* Clarity: What am I, as a service professional, going to be providing and setting the expectation clearly.
* Compensation as a financial advisor can be commission or fee-based.
* The fee-based model allows the customer to understand the service being offered, how much it will cost and what the value is they will receive.
* Commission-based fees can cause a conflict with your customer's best interest.
* As the customer succeeds, so does the advisor. If the customer doesn't succeed, neither does the advisor.
* Registered Investment Advisor (RIA) practices take the value pricing model and overlay it on the financial industry.
* Fee-based pricing is a competitive advantage in the financial industry if you are in it for the long-haul.
How do you help customers in a value pricing conversation?
* Ask good questions: What are your pain points when it comes to retirement?
* Talk about goals and your ideal life. If you can't fund the ideal life, you simply aren't going to get there.
* Number one rule: spend less than you make.
* People like choices. It puts the customer in the driver's seat and allows you to work together as a team.
* Part of serving is having the money conversation.
* Remind the customer of the service you are providing and the value that you are creating.
How do you advise those who are timid about pricing?
* When you charge what you're worth, it will increase the quality of your customers.
* When you are timid about delivering a service, you can undercut what you're worth.
* If you aren't being paid what you're worth and you're in cash-flow crisis, you will not be around to serve the customers you are serving right now.
* If you don't know why you are in business or you don't know the value you are providing, it will be hard to have a value conversation with your customer.
* If you're having doubts about implementing value pricing, Start With Your Why (Simon Sinek).
* You need to have a mission statement – both business and personal.
About Sean Nisil
* 8 years experience in financial planning
* Contributor to FaithDrivenBusiness.com
* Theology major in college
* RetireMeASAP.com
* LinkedIn: Sean Nisil
* Twitter: @SeanNisil