“In every endeavor, people make the difference, and just one person has the power to make a profound difference in the lives of so many people.”

“With physical and financial capital having been replaced by human capital as the economy’s driving force, the knowledge, skills and experience of people have become this country’s scarce resource.”

Quotes by Lowell Milken

WHAT IF? What if we could take 2 common business concepts- Human Capital and combine it with Value Add to create a new business

strategy as advisors and business owners

CPAAttorneys

Consultants

Business Owners

Human Capital

The skills, knowledge, and experience possessed by an individual or population, viewed in terms of their value or cost to an organization or country

Human Capital for most of us, is our most important asset

Other businesses most overlooked asset category

Human Capital

“An analysis of capital structure should recognize that most balance sheets are dramatically inaccurate because (with the exception of sports franchises) they fail to include the value of human capital” Mike Milken

Our we using our human capital to the best of our ability?

Value Add

Outside of economics, value added refers to "extra" feature(s) of an item of interest (product, service, person etc.) that go beyond the standard expectations and provide something "more" while adding little or nothing to its cost.Value-added features give competitive edges to companies with otherwise more expensive products.

Value add- an overused term

Human Capital Value Add

Resource leader or Rainmaker

SkillsKnowledge

EmployeesNetwork

Desire to focus on other’s needs

Marketing Strategy

Direct sales force Cold calling Facebook and social media Networking

Referrals

Advertising Online marketing Blogging Newsletters Seminars Direct Mail

Push Through Marketing CampaignTrusted Relationships

Pull through Marketing campaignIndustry LeaderBuild Trusted Relationships

Number one favorite type of lead

Referrals!! Warm lead Others do the leg work for you

Level of trust that you wouldn’t normally have

Prospecting methods for Advisors, Consultants, Business Owners

Prospecting Method

% who used this method

% of bringing in clients with this method

Direct mail 57% 27%

Cold Calling 46% 27%

Seminars 62% 40%

Networking 93% 78%

Asking for Referrals 97% 90%

Asking for Introductions

91% 72%

Becoming a Rainmaker by Matt Oechsli

Highest Impact

Prospecting

Moderate Impact

Prospecting

Lowest Impact

Methods

1. Arranging Introductions 2. Getting

Referrals

3. Strategic Networking 4. Strategic

Referral Alliances

5. Intimate client events

6. Targeted Seminars

7. Public Speaking

8. Publishing and Publicity

9. Cold Calls

10. Direct Mail

11. Advertising

ANAC Survey 2004 to 2005

Keys to success Becoming A Resource Leader

Skills Want to try new ideas

Mindset- Must be genuine Reputational risk No Fear

Action Targeted Lists** (ANAC) Research Make appointments

Skills

Mindset

Action

Becoming a Resource Leader

Created a strategy around this concept vs. a professional courtesy

What are some ideas that you can execute immediately to start this plan?

What are the pros? What are the cons? Talk about one thing you can improve in

your Rainmaker Bench legs: Skills, Mindset, Action