When speaking to prospective clients, explaining your differences as “better” than others seems like a smart approach. However, it’s not always effective.
For instance, if someone asks why they should do business with you as opposed to the firm across the street – you begin to give them your “betters.” You may not say it by using the word better, but it sounds like you will have… better communication, better services, better products,
If you find yourself constantly resorting to generic answers when people ask you questions about yourself, it may be time to rethink your approach. So often we drift through our day, not even seeing the opportunities we have in conversations with others. From the simplest “Hey, how are you?” to the more complex questions you are asked throughout your work day — how often do you take time to answer the questions fully?
The way that Value Propositions are typically created often do not work. Why is that, you ask? Because most of them don’t convey anything memorable or valuable when you use them, and most are not about what the OTHER person actually cares about.
I have been concerned about this for years and as a firm, we have focused on improving this for the advisors we work with. The problem has been defined by a study done by Pershing and multiple articles written on the topic.
My 20-year-old daughter was recently reading an article in the Wall Street Journal that was making a case for the introverted entrepreneur. She looked over at me and said, “Mom, this article is about you.”
“Me? I’m not an introvert,” I said to her somewhat dismissively. And then after a few minutes I said, “Wait, do you really think I’m an introvert?”
My daughter said,
Perception actually can become reality. Thus, there is something very powerful about psychological placebos that we may want to take into account personally and professionally.
If I hear, for instance, that a new restaurant in town is terrible – would that alter my opinion of the restaurant after I ate there myself? If I tell you that you look great in that suit – do you actually look better than you did before?
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