May 3, 2019

What is the best way to have the,  Retail Segment Invest with you?

Sharan Patil
Entrepreneur,Investor & Educator

What is the best way to have the, 
Retail Segment Invest with you?

A stepping stone for any successful business model is to identify the target clients. Once that happens it is easier to understand and work through the requirements. Hence always start that, right from the beginning.

So, What is the right target audience that you should pick?

For us, the target was the middle-class segment. While the general tendency is to choose the HNI class, what you should also do is explore and choose the retail segment. This has always been a  conscious pick from our side since it forms the largest chunk of the Indian population and it’s per capita income is ever-increasing!

But this segment lack enough clarity of their personal or financial life. What you should see here is an opportunity! A better understanding of all aspects of personal life including finances would make this segment – great investors.

What is the best way to start this process?

A fee-based mentorship program in a local language is what needs to be planned. It is important to keep the program in Local Simple Language as that is what helps in connecting with the masses. The content of the workshop would typically include a variety of topics not just restricting to Finance like stress management, happy-living, effective communication, enhancing leadership qualities, social responsibility, soft skills along with financial wellbeing. 

What we have practiced is a 4-Day weekend course for them, of which one entire day is dedicated to Financial Mentorship. Here, never talk about any specific products only stress upon:

1. How important it is to manage money effectively?

2. How to realize our financial goals? (children education, marriage, house, vehicle, retirement, vacation, etc),

3. What’s financial freedom?

4. The effects of inflation, The power of compounding, etc.

And we generally, conclude the seminar by taking each participant’s wealth-check forms(basic questionnaire details)The next step would be to schedule a personal financial review which eventually leads to investments from the clients as they now know you, your process, and has already connected with you.

Acquiring Clients

How did I start this and How do I get people to attend these Workshops?

Initially, when we started we placed ads in the local dailies. Now we use Social Media to promote the workshops.The respondents were taken through an introductory seminar first which was free of cost where they’d have a fair idea as to what could be expected and they would then register for the Workshop.

After about 4-5 yrs of this practice, it has now turned out to be a self-sustainable model. The participants and hence the investors become the brand ambassadors of the workshops and what is best is that you get referrals through them!


Note: For NetworkFP Pro-Members an UpSkill on the same topic by Mr.Sharan Patil has been conducted on 1st May and the video is now uploaded to the NFP Channel.

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