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Chennai MFD Alagappan Thenappan of Asset Creators has achieved two significant milestones in his business journey of over 15 years – creating monthly SIP book of Rs. 1 crore and crossing Rs. 100 crore AUM.
Cafemutual spoke to Alagappan to know how he achieved these milestones. Let us hear his success mantras in his own words:
Mantra 1: I meet at least three prospects a day
I meet at least three prospects daily. These are over and above the references from my existing clients.
Every day, while we travel, shop, go to restaurants or accept deliveries, we encounter new people. I consider each of them as my prospective clients.
I strike conversation by asking questions like what are they doing to secure their financial lives and if they show interest, I seek their time for a formal meeting.
I hold such meetings one-to-one which typically lasts for an hour and a half to two hours. We discuss their current financial situation, desired goals and financial responsibilities to determine the next action. I regularly follow up with them to give them confidence to start investment journey.
I now cater to more than 5000 clients, which are largely retail and include corporate employees, vegetable vendors, restaurant workers, kirana store employees, delivery agents, HNIs, NRIs, etc.
Mantra 2: Help clients know precisely what they want to achieve
Visualising financial goals with the minutest details gives investors direction and keeps them focused.
For instance, when investors tell me they want to save for children’s education, I ask them to be more precise by selecting the university and course they foresee their child studying. This way, they can visualise and quantify their goals. Further, they also stay far more disciplined and patient till the goal materialises.
Mantra 3: Offer 24/7 support
Every investor has a different schedule and may find it difficult to discuss their finances during particular hours. Salaried investors usually prefer weekends while international investors prefer a different time zone.
I prioritise investors’ comfort above all and offer them 24/7 support. This clearly keeps my clients happy. Apart from being available on phone round the clock, having a mobile app has also made it easier to for my clients to track investments.
Don’t you find Alagappan’s three business mantras empowering?
Have you also implemented any business mantras that have helped you achieve new milestones? Do share with us your story of success at newsdesk@cafemutual.com and stand a chance to feature on the Cafemutual website.
