Most of us have had someone in our lives who drives us nuts by having a proverb at-the-ready for seemingly every occasion. But these sayings become commonplace and get remembered precisely because they contain some essential truth. I have four such maxims to offer today that I think can and well help you in your business.
1. Measure twice; cut once. The key here is to be cautious before commitment. In the financial planning world, that means doing the necessary homework and preparation before making a significant decision. And it applies both to the professional and to the clients. Prospects are wise to be wary and, in the world of today featuring instant access to almost everything, we as professionals shouldn't expect these prospects simply to take our word for anything. There's no substitute for good planning.
2. Paralysis by analysis is dangerous. It’s easy to get so caught up in the planning process that nothing gets done. As George Arocha pointed out so clearly at the AMS Sales Symposium, education without action is worthless. If the client has the best plan possible but doesn't implement it, it doesn't do any good.
3. Necessity is the mother of invention. If and when we establish a sufficient need on the part of the client or prospect, s/he can get past being paralyzed. A good plan can reach a prospect's "head," but putting it into action often requires reaching the "heart." A clear explanation of why a plan is needed, along with the consequences of failing to act, designed to elicit both an intellectual and an emotional response, can allow the prospect to get over the paralysis hurdle and get the need met.
4. “Simplicity is the ultimate sophistication” (Leonardo da Vinci). A good plan doesn't have to be complicated and even a complicated plan ought to be explained simply to the extent possible. The KISS principle (Keep-It-Simple-Stupid) makes great sense. Conventional wisdom (rightly) provides that one shouldn't invest in something that s/he doesn't understand. If we can't explain a plan we propose and the reasons for it simply and clearly, it isn't very likely that the prospect will put it into place.