Small Events Equal Big Returns
If I had a $5,000 budget, I’d do 10 dinners at $500 each rather than a big blowout because a personal connection is huge with clients. -Shashin Shah
Shashin Shah efficiently runs his financial advisory firm, SGS Wealth Management in Dallas, as a one-man show. When it comes to showing clients how much he appreciates them, however, Shah lacks the time and skills required for party-planning. To host events, he always uses outside help. [As a result]: One out of every five guests turned into a new client for a 20 percent conversion rate. So Shah intends to stick with small, select events in the future. "If I had a $5,000 budget, I’d do 10 dinners at $500 each rather than a big blowout because a personal connection is huge with clients. They’re also a great way to get referrals because those people see exactly how we show our appreciation." Shah also intends to keep giving the planning details to others to handle. "When you plan your own events, you’re so worried about the little details you forget why you’re there. This way, I can focus less on the planning and more on my clients, which is the important thing."
-Shashin Shah, owner, SGS Wealth Management in Dallas, in Anatomy of an Event: The Solo Advisor
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