This is the 13th in a series of Tips, each featuring a ‘sneak peek’ at the bi-weekly strategies of content contained within our new Pareto Academy for Practice Management. The Pareto Academy is an on-going stream of webinar-delivered strategies that provides financial advisors and their team members with proven concepts that are easy to implement with predictable results. A one-year renewable membership enables you to implement strategies developed by the most respected authorities in the financial services sector.
Today’s Tip, touches on:
- How using ‘sales’ and decision-manipulation type activities creates more work for advisors over the long-haul, and;
- A professional approach routed in creating trust with clients, means easier and strong long-term relationships with clients.
This quote; “the salesperson works twice as hard,” was one that derived from another quote that I had read in an Esquire magazine. The original quote was “the lazy man works twice as hard.”
Examples of this premise in play:
- Taking shortcuts on a home renovation project? You’ll be paying for that laziness in short order when it falls apart and you have to rebuild it; presumably the right way the second time.
- Being lazy and just doing the bare minimum in school? See you in summer school! Have fun with this notion with your kids. I know I am.
The second revelation came a couple of days later. I decided that unequivocally; and compared to a professional approach, the salesperson works twice as hard as that professional. Here’s why:
- Salespeople build just enough trust to get the deal and then they move on to the next conquest. It’s lazy.
- Salespeople push hot buttons. They seek out a need and look to exploit it. Ultimately, and using whatever way that you want to describe it, salespeople manipulate. This is absolutely the case, even though a small amount of trust needs to be built in order for sales to work.
My point is, if you are a salesperson, and you are already interacting with the part of the brain that deals with building trust, why not do a proper job and build a greater degree of trust while you are already there? Yes, it takes a touch longer, but the trust can then last the entire relationship. You will rarely, if ever, have to convince your clients of anything ever again. They intuitively understand (based on past actions) you are proposing what’s in their best interest, not yours.
With the salesperson’s approach, you might get a quicker deal done, but you are now in a position to have to resell that person over and over every time you want the client to do something. (Buyer’s Remorse anyone?) “The salesman works twice as hard” indeed.
This is not unlike another old expression: “A job worth doing is worth doing well.”
The salesperson works twice as hard.”
Yes it takes a little longer, but like anything else, the job done properly has ten times the benefits. “Selling” has been eliminated from the professional model because the client and the professional are beginning the relationship based on a bedrock foundation of trust. There is no selling to be done: either up front, or ever. The client has placed their trust in the professional, and the client follows the professional and their advice with great trust and confidence.
This content, including processes designed to build trust with clients, is covered in much more detail in our Pareto Academy for Practice Management along with a complete range of essential practice management components.Photo: © Spanky1 | Dreamstime Stock Photos & Stock Free Images