young man in business suit with a stick of red dynamite in each ear that is lit (Photo: Shutterstock)

"I joined the Chamber.  Never got any business.  Waste of money."  How many people do you know that have said those words?   Maybe  you've said them.  Unfortunately, it's easy to blow yourself up.  Here's how.

1. Join but never show up.  It's the "Is there a doctor in the house" mentality.  You join under the impression business will flock to you because you are a professional in the benefits field.  How will people know about you if you are never there?

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Instead:  Show up at meetings and events.  Be low key.  Meet people.  Take a sincere interest in what they do.

2. Arrive late and leave early.  You joined a committee.  That's a good step.  Sometimes you skip meetings without giving advance notice.  You arrive late.  You leave before the meeting is over.  You feel this communicates you are important.  Your other committee members think you "think you are better than them" or you are rude.

Instead:  Put in the time.  Arrive early.  Chat with the other early arrivals.  Stay a few minutes afterwards.  Always be prepared, having done your homework and reviewed the agenda.

3. Join and try to take over running the place.  It happens more often than you imagine.  Big city person arrives in a small town.  They join a group and realize things could be run a lot better.  They decide to take over.  They don't know the political landscape.  They discover the "Old Guard" might not run the best events, but they are world class when it comes to freezing out someone they don't like.

Instead:  Lay low.  Get to know the major players.  Ask how you can be of the most help.

4. Commit but don't follow through.  You serve on a committee.  You take on part of the project.  Maybe it's soliciting for fundraising.  You've dropped the ball.  Others need to pick up the slack.  You gain a reputation of someone who cannot be relied upon.

Instead:  Only commit to what you can deliver.  Under-promise and over-deliver.  You will gain a good reputation.

5. Keep your wallet firmly closed.  You attend free events, but not those where you need to spend money.  You come across as not being committed to the organization.  A cheapskate too.

Instead:  Attend the paid events, especially the "see and be seen" ones.

6. See life as "What can you do for me."  You see everyone as a potential prospect or someone of no importance.  You don't maintain relationships unless that person can do something for you.  "Give to get" is alien to you.

Instead:  Reverse the situation.  Try to figure out what you can do to benefit the other people you meet.  People have all sorts of needs.  Ones leading to business might not be front and center.  Give it time.  Business can come from unexpected places.

7. Advancing an idea without building support beforehand.  It's another common problem.  You have what you think is a great idea.  You stand up in your committee and present it.  The room is silent.  There's no buy in.  You get frustrated.

Instead:  By now you've met the key players.  Meet with each ahead of time, before the meeting.  Explain your idea.  Let them see you have thought it through.  Ask for their feedback and suggestions.  Answer questions.  They will likely stand up at the committee meeting and say: "I think that's a great idea."  Others should fall into line.

8. Become a gossip.  Most organizations have factions.  There are petty jealousies and rivalries.  Once you choose a side, you alienate others.  Where's the benefit?

Instead:  Focus on the mission.  If you are drawn into these situations, try to take the high road.  You don't have all the facts.

9. Be a late payer.  You know some of those people!  They commit to buying tickets for an event.  Their check never arrives.  Someone needs to chase after them.  Word gets around.

Instead:  Be one of the first to pay.

10. You don't advertise.  The organization has a newsletter.  They hold events.  They solicit sponsorships and advertising.  You don't raise your hand.

Instead:  Invest some money.  Let people know about your business and that you support the mission of the organization.

11. Drink too much.  Mixers, receptions and events often involve alcohol.  You place a high value on "free drinks."  Maybe "Open bar" means "I've got to get my money's worth."  Your behavior and speech are impaired.  Some people feel those who can't hold their liquor also make bad business decisions.

Instead:  Alternate water with alcoholic drinks.  Do your drinking at home, when driving afterwards isn't necessary.

12. Think the deck is stacked against you.  I'll never get business because this other guy has it all sewn up.  He's the "Go to" guy around here for my profession.

Instead:  Realize not everyone is already tied to one professional.  They might have niches.  They might be coasting after years of developing their market.  Some clients might feel unloved.

Certain rules of life stand the test of time.  As a banker, when discussing Chambers of Commerce explained: "You get out of it what you put into it."

Bryce Sanders is president of Perceptive Business Solutions Inc. He provides HNW client acquisition training for the financial services industry. His book, "Captivating the Wealthy Investor" can be found on Amazon.

 

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Bryce Sanders

Bryce Sanders, president of Perceptive Business Solutions Inc., has provided training for the financial services industry on high-net-worth client acquisition since 2001. He trains financial professionals on how to identify prospects within the wealthiest 2%-5% of their market, where to meet and socialize with them, how to talk with wealthy people and develop personal relationships, and how to transform wealthy friends into clients. Bryce spent 14 years with a major financial services firm as a successful financial advisor, two years as a district sales manager and four years as a home office manager. He developed personal relationships within the HNW community through his past involvement as a Trustee of the James A. Michener Art Museum, Board of Associates for the Bucks County Chapter of the Fox Chase Cancer Center, Board of Trustees for Stevens Institute of Technology and as a church lector. Bryce has been published in American City Business Journals, Barrons, InsuranceNewsNet, BenefitsPro, The Register, MDRT Round the Table, MDRT Blog, accountingweb.com, Advisorpedia and Horsesmouth.com. In Canada, his articles have appeared in Wealth Professional. He is the author of the book “Captivating the Wealthy Investor.”