Becoming a Rainmaker: Creating a Downpour of Serious Money

By Matt Oechsli                  

The author, Matt Oechsli, with 25 years of professional coaching as his point of reference, defines a Rainmaker as one who acquires at least 10 clients, worth upwards of a million dollars, every 12 months. Only 7% of financial professionals surveyed by Oechsli Institute actually made those numbers.

 At the Oechsli Institiute, they conduct numerous research projects on the affluent and have been able to determine (with statistical significance) how the affluent make major purchase decisions and the criteria they use in selecting a financial planner as well as other studies. The Oechsli Institute has empirical data that enabled them to develop a profile of the 21st Century Rainmaker.

The Three Legged Stool

The Rainmaker profile is presented as a three-legged stool, because each leg represents a critical component. The first leg represents the Mindset of a Rainmaker: defining the ideal affluent prospect and the annual goal for the coming year, working hard and smart. The second leg is High Impact Activities: networking, referrals, introductions and face-to-face meetings represent the highest impact activities. The third leg of the Rainmaker stool is skill: always refine your knowledge and skills and ways to improve. Becoming a Rainmaker is a matter of simultaneously developing these three components through on-the-job training.  The Rainmaker must have an awareness of what to do, refine his ability to do it and ensure that he performs the right activities on a consistent basis.

The Affluent Studied

Some of the results of the Oechsli Institute’s study of the affluent were:

  • When making a major purchase decision, affluent consumers ranked price as the least important of seven different criteria.
  • More than 75% of affluent business owners and self employed professionals surveyed worked 60+ hours per week.
  • Affluent investors gave far less importance to reviews and testimonials than they did to the responsiveness of sales and service people.

The 12 Commandments of Rainmaking

Commandment 1: Pledge the Rainmaker Covenant: an oath to make a commitment to fully maximize your given potential.

Commandment 2: Be Totally Goal Driven: it will activate your “Achievement Cycle” and serve as your focal point, establishing direction and creating pull.

Commandment 3: Bear Fearless(Have the Mindset of a Warrior):  play without a net and don’t be afraid to fail.

Commandment 4:  Be Extremely Competitive: stay on top of your game and play to win.

Commandment 5: Be Highly Disciplined: discipline linked to a goal is the fuel of every Rainmaker’s Achievement Cycle.

Commandment 6: Be Completely Focused: avoid the many distractions and low impact activities. Spend 70% of your time face-to-face with qualified affluent prospects, or with those who can introduce or refer you to qualified prospects.

Commandment 7: Be Fully Energized: conserve your energy and properly allocate it.

Commandment 8: Always Be Persistent: “persistence and determination alone are omnipotent”-The Rainmaker Creed.

Commandment 9: Always have your Antenna Out: rainmakers love what they do, and are fully aware that some of the best business is done under unusually circumstances.

Commandment 10:  Be Seamless in Your Sales Skills: maintain and refine your level of professionalism

Commandment 11: Be Like Tiger Woods: As the Rainmaker role model, Tiger Woods is fearless and always striving to improve; he is the hardest worker on the tour.

Commandment 12: Love the Game: You must love what you do in order to excel.

Matt Oechsli re-enforces familiar points, sometimes looking at them from a new perspective. He also introduces new and relevant concepts. A quick read, a re-centering exercise. The website is www.oechsli.com and their number is 800-883-6582