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Creativity is Your Best Competitive Edge

Creativity can be your biggest competitive advantage.  In a connected economy, opportunities  abound everywhere but so are competitors.  Generic solutions may sound good but creating a customized solution to a hidden problem often offers the most value for your client and to you. “We are moving towards a creativity economy.” How can you be more creative?

 

Consumers Seek Experiences, Not Things

An article in today’s Wall Street Journal has broader implications than exploring What to Do About Dead Malls.

“Consumers are looking for places to be—not things to buy—when they leave the house. What’s needed is a radical new approach to sales—one that may not include selling goods in store at all. Smart retailers are repurposing physical stores to do what e-commerce can’t: offer a memorable, meaningful and multisensory experience. ”

People are re-defining what matters most in their lives and it no longer is the things they own.

Appeal to what now matters most….what you can do with your life not what’s parked in the garage or the number in your bank account.

What Makes a Great Story?

Gary Vanerchuk says it simply… “A great story invokes a reaction”

If it doesn’t invoke a reaction, it’s forgettable.  In a fast paced analog/digital world the best way to grab and hold attention is to wrap it around a story.  It doesn’t have to be long or detailed but it needs to tap into one of earliest human skills of communication… Storytelling .

Think about it… when you really connect with someone  what are you doing?  Are you listing facts, benefits, specs or are you sharing a story?

 

Be Direct and To the Point in Ideas, Emails and Pitches

Richard Branson offers good advice about being to the point. People seek clarity and if you have any chance to grab their attention and get them to act, you need to be direct.

Branson advises… “The best ideas don’t always need to have detailed financial projections and complicated business proposals behind them. Sometimes they come fully formed on the back of a beer mat… If it can’t fit onto the back of an envelope, it’s probably a bad idea. Keep it short, sharp and picture-perfect.”

One of Google’s early investors at Sequoia Capital had another way of saying it… “If an entrepreneur cannot explain his idea in ten words or less, I’m not interested and I’m not investing. Period.”

Brevity is the soul of wit.

Better yet…

Keep it short and simple.

5 Wealth Advisor Client-Generating Action Items to Grow Your Firm

In working with wealth advisors, I have found that the quickest and most effective way to add new clients to a practice is to build a lead-generating process around a story that resonates with your target client.

It’s one reason why a book can be a great tool that can be scaled.

I do have some observations and suggestions that might be worth considering and testing:

  1. Everything starts with making a contact, building a relationship, uncovering needs (or fears), offering a solution and securing the client engagement. – Make new contacts!
  2. People only need one reason to consider and decide to have you become their financial advisor. Probe to find out what is their biggest challenge or problem.
  3. You need to know the things that your firm is great at and to wrap them up around a story – What are your special talents and what are you great at?
  4. Creating an ongoing sales process that tracks actions completed is the best way to build ongoing sustainable sales. This includes calls, emails, meetings, proposals, offers, etc. – Track your activities!
  5. One of the best way to attract attention is to offer something of value for free. What can you give your potential client to generate good will?

Growing your firm takes some art and more importantly, math. You need to know what you have to offer and the problems your client faces but you also need to generate trackable activities. You only can do this when you start making contacts on a regular basis.

Your Biggest Lever to Success or Failure is Attention

If you don’t adapt and seize the attention of new potential clients (customers), somebody smaller will take your place.

myspace > FaceBook
Taxis > Uber
Blockbuster Video > Netflix
Borders/WaldenBooks > Amazon
Excite/Infoseek/Yahoo! Search  > Google
PanAm/Eastern Airlines > JetBlue

While awake, people are always paying attention to something. Are you where they are contantly looking?

Making Linx... Our goal is to create books and products that engage and motivate consumers to act. Are you interested in learning more? Email us!