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What I Learned This Week

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One thing certain about this business is that no matter how long you’ve been doing it, there is always something new to learn. This week I recognized I needed to modify my initial approach with a prospective client, or perhaps better said, it’s getting back to what I already knew. You can’t approach every person the same way. Allow me to explain. People are either outgoing or introspective. They are usually either creative or analytical. They either like to control their environment or follow another’s lead. They are either impatient or patient. You get the point. This week I met with a couple of people who are similar in their personalities.

Both are very successful businessmen and can be categorized as bottom-line oriented. They would not enjoy sitting still for a detailed, methodical presentation. Make it brief and get to the point, quickly. For many of us, this is not a revelation. We know different personalities require different approaches. But as an independent business owner, sometimes we get caught up in the myriad of duties we have and forget some basic but important principles.

The financial planning portion of my business is doing well. I’m finding that people are searching for someone who will help identify gaps in their situation. Some of these gaps may be evident and some may be hidden. In any event, it’s important to flush them out. Also, people with wealth are very willing to pay for good advice. Notice I didn’t say products, I said advice. A product is a result of advice (at least in my opinion).

I’m planning to switch from Morningstar Advisor Workstation Enterprise Edition to their Office Edition. I will pay much more for the Office Edition but will gain a tool which will satisfy the vast majority of my needs. Both are good research tools but the Office Edition adds a quality performance reporting capability as well. I’ll keep you posted as I learn more.

I am preparing to launch my Web site in the next 30-60 days. This is very exciting and offers great potential. It will include information for prospective as well as current clients. I plan to incorporate video presentations using slide presentations with a voice overlay and perhaps other videos where I’ll share how the firm helps clients. I’ll let you know the URL as soon as the basic version is ready in case you’re interested.


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