How Causative Teams Drive Business Development

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Can you feel it?

There’s a fundamental shift happening all around us – one that’s impossible to ignore. While the global pandemic has deeply altered the way we go about our lives, the changes it’s engendered when it comes to how we operate and how we succeed as financial advisory teams are irrevocable.

Most financial advisory teams lived or died at the hands of a select few team members: those who saw business development as their job and their job alone. And, while this was never an optimum strategy, it’s non-functional post-pandemic. Now, when it comes to business development, so many of our natural avenues have been cut off – our usual prospecting methodologies such as seminars, networking events, or even serendipitous, in-person meetings are gone. For finance teams that want to win – and that truly want to be at the top of their game – there’s only one option left: changing their mindset.

Financial advisory practices using only a handful of team members to prospect and engage in traditional business development will be usurped by teams that are trained to be causative.

What is a causative team, and what impact can it have?

Causative teams are especially powerful because their leaders know something that most people don’t. They understand that every member of their team – no matter their role, level of expertise, or personal characteristics –contributes to business development in an integral way. Traditionally, business development has been left to the most extroverted team members – those who appear to be the most gregarious or aggressive by conventional standards. This may have worked pre-pandemic when business development options were much more conventional, but introverted team members and those with diverse backgrounds also have significant niche value to add.