Win Some, Lose Some

This past week I presented a financial plan to two new clients. It’s a good feeling to see the appreciation on their faces because I’ve allayed some fears or answered their questions. In my first meeting, I tell them that a financial plan will do two things. First, “It will give you a clear picture of where you stand and, second, it will give me a clear understanding of your situation. Then I’ll be in the best position to provide you with advice.” It’s rewarding to see them gain a better understanding of where they are financially.

You win some and you lose some. I had an appointment with a prospective client for this week and it seemed as though she was ready to move forward with me. Then I received an e-mail from her, indicating that she’s decided to go with someone else. Interesting how people select their advisor. They don’t compile a list of everything they are looking for in an advisor and then do a quantitative study to find the exact match. Instead, they rely on intuition, emotion, and, oh yes, most important, a referral from a trusted business associate or friend. That’s the case here. Her partner recommended this guy and sometimes that’s a hard thing to overcome. Oh well, business is still very good.

Looking back, the first year was largely a time of adjustment and getting comfortable with running a business. Now that’s behind me and my focus is more on growing it. And grow it has.