Erin Botsford, CFP® Creator of The Elite Advisor Success System™ Interviewed on the Influential Entrepreneurs Podcast Discussing The Proper Order of Business Building

Erin Botsford discusses the proper order of business building: Insights from Elite Advisors 

Listen to the interview on the Business Innovators Radio Network: 

Business owners make excellent clients because they are accustomed to paying for professional advice and services. As mentioned in the episode, business owners understand the value of expertise and are willing to invest in it, as they regularly pay accountants and consultants. This familiarity makes them more receptive to financial planning fees and more likely to view the advisor as credible.

Moreover, business owners often have weaknesses in their own financial situations that they may not be effectively addressing. While focusing on running their businesses and taking care of their customers, they may neglect their financial planning needs. This presents an opportunity for advisors to step in, provide guidance, and offer solutions.

Because they’re already to paying for expert advice and guidance, business owners make them ideal clients for financial advisors. They are more likely to recognize the value of the services provided and be receptive to the advisor’s recommendations.

While prospecting is seen as a crucial step in the business-building process, its importance is often misplaced. In the episode, Mike Saunders and Erin Botsford discuss the importance of prospecting to find and close clients, but more importantly, why it isn’t the first step she teaches advisors. Erin mentions that in her training program for advisors, she emphasizes the significance of being able to close prospects of any size in the first meeting, and why that skill needs to be mastered before large prospecting efforts are taken.

Erin Botsford also mentions that the program trains advisors how to move up-market and close more higher net-worth clients, giving them larger results with fewer clients. In conclusion, the episode underscores the significance of learning to close prospects the right way first, rather than prospecting without expert closing skills.

Erin explained: The number one thing an advisor needs to be able to do well is close prospects of any size in their first meeting. The reason that’s so important is that it generates the revenue needed to take care of all the other things that need to happen in your business. So, if you can’t close a 10 million dollar prospect the first time you meet with them, there’s some training you could use.  Once you learn how to do that, the next step is to hire other people – leverage yourself by hiring other people to do the actual work of the business.


About Erin Botsford

Having spent 31 years in the financial services business and achieving at the highest levels (Barron’s Top 100 in all categories: Independent, Advisor, and Women), Erin sold her business in 2017 in a successful exit – a step most advisors would like to achieve at the end of their careers.

Today, she delivers value to advisors and firms all over the country, speaking and teaching advisors how to quickly grow their businesses exponentially.

She helps advisors understand and implement growth strategies, no matter where they are in their business journey. Erin believes in the power of modeling and allows advisors to simply copy her success blueprint.

Erin is also the author of two books: “Seven Figure Firm – How to Build A Financial Services Business That Grows Itself” and “The Big Retirement Risk: Running out of Money Before You Run out of Time;” and the founder of the Elite Advisor Success System™.

With over 30 years of field experience and an authentic personal story, she can relate to advisors at all levels. Erin is an international speaker who shares her 30 years of wisdom at industry conferences worldwide.

Learn More:


Read the featured article in Financial Advisor Magazine:

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