Showing clients that time is money

When a chartered accountant with an excellent reputation caught my attention in the newspaper, I decided I’d like to add his name to my client list. I sent him an introductory letter and then called him. He told me he wasn’t interested in talking to a life insurance agent because he didn’t have the time. I was disappointed but not defeated.

To get his attention and show him I understood the value of time, I sent him a registered letter and a check for $100, which 20 years ago was a large sum of money. In the letter, I apologized for wasting his time and the check was compensation for the time I took during the telephone call. In addition, I told him I was willing to pay more for the cost of having an appointment for 20 minutes with him.

Bharat Vadilal Parekh

Hear more from Bharat Vadilal Parekh in a video on MDRT’s website about how to be a trusted advisor.

I waited for 15 days and then received an acknowledgment card with his signature. The next day, I called him and introduced myself. “Bharat Parekh,” he said loud and clear. “Where are you now? Can you meet me in my office in a few minutes?” I didn’t know what to expect, but 30 minutes later I was in his office — and nervous about how he would receive me. To my surprise, he rose from his chair and greeted me warmly, saying, “I’m not as big as you are. You understand the importance of time and have given me this compensation.”

Today, he’s one of my good clients, paying $150,000 in life insurance premiums to me every year and referring me to other people.

Bharat Vadilal Parekh, of Nagpur, India, has been an MDRT member since 1993 and is Top of the Table qualifier. Find more sales ideas on MDRT’s Resource Zone.

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