There are just over 500,000 millionaire households in Britain, more than in any other European country but fewer than in China, Japan and of course the US.
As for billionaires, the UK has 1,044 and is second only to the US, though as we all know most of those billionaires are people who made their money elsewhere and then moved to the UK, rather than the home-grown variety.
Worldwide there were 16.3m millionaire households at the end of last year, up from 13.7m at the end of 2012.
Those are three of the conclusions from the latest study by Boston Consulting Group of global wealth – it does it every year and 2013 was notable as the rich got quite a lot richer.
Total global private wealth grew by 14.6 per cent to reach $152bn, the two main drivers being the rise in equity markets and the continuing strong economic growth in the emerging world.
The region in which wealth grew fastest, unsurprisingly, was the Asia-Pacific. Since the financial crisis, China has passed both Germany and Japan in terms of total household wealth.
So with all that pool of statistics, how do you go about bagging a High net-worth client and keeping them?
1. Do Work at Knowing the Trends and Your Product
When selling a product or service to an athlete or celebrity, it’s all about referrals.
You won’t get far going directly to the client, Instead, you need to build relationships with trusted sources of the client.
For example, find a way to connect with an agent or financial advisor. If you can get these people sold on you, you have a much better chance of getting a referral.
2. Don’t Scream
No need to scream. Stay cool, calm and collected. After all, they are human.
3. Do Learn To Get Around the Gatekeeper
To approach a client’s trusted sources, you have to find a way in.
Social media makes it easier than ever to find connections, but the power of the phone is still the better route, but you need to plan what you're going to offer.
Remember the gatekeeper can also get bombarded by lots of enquiries every day on social media so be smarter and look at how you can develop point 7.
4. Don’t say “OMG”
Some people say “Oh my God” to everything, you sound juvenile.
5. Do Try and Beat the Receptionist to the Office
A little clever secret is to make early morning phone calls before the office opens.
If the company has a dial-by-name directory, you can often catch the person you want to reach at their desk, especially if their name is on the door. You’d be amazed at who picks up the phone at 5:30 a.m.”
6. Don’t Stare
It's rude and frightening.
7. Do Try to Stand Out
When you’re selling a commodity such as makeup, you’re working with the same inventory as every other artist. That means your value comes from standing out.
No matter what your industry, work on developing your qualifications and personality, Have an excellent commitment to clients, and find a niche and exploit it.
8. Do Not Ever Say – “I Love You”
Do you know how silly you sound? They will no doubt think your crazy
9. Do Say a Memorable ‘Thank You.’
Often people do things prior to selling to be remembered, but often when you get the sale, doing a memorable thank you can result in other referrals coming your way.
10. Don’t Take Photos
Do not take photos of them while working on them without asking their permission.
11. Do Have a Higher Mission
It’s not always about making money just to pay your bills, giving back can also encourage high-net-worth clients to feel good about working with you and support any project that is dear to your heart and help people or animals around the world.
12. Don’t Cry
Professionals do not cry on the job- especially for nothing.
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