The success of every professional services firm is driven by the need to deliver consistently superior client experiences that result in high levels of client satisfaction.
High levels of client satisfaction lead to more dynamic growth rates, greater revenue, profitability, and business valuation, higher employee retention rates and performance and a much more positive business environment.
Professional services firms have undergone a series of major transformations over the past twenty years. In the 1980s, these firms were sales organizations and employees were hired to maximize sales volume and values. For those of us who were involved in business in the 1980s, you will recall some of the approaches we were taught ? overcoming objections, closing the sale, getting the next appointment, accelerating the sales cycle, and how to sell anything to anybody. Most approaches were based on the sales person being pitted against the client and the goal was to close the sale.
Last week I was working with one of our Certified Wealth Mentors with my role to offer some behavioral insights on some difficult client cases. The cases were difficult because of the clients attitudes not only to financial decision-making but also to life. These cases reaffirmed to me how much trust is core to all dimensions of every client situation. This is why when we redeveloped our DNA personality system in the past year we made trust a new stand-alone personality factor.
Often when we talk about trust it is in the context of our role as trusted advisor and building open relationships with clients. Certainly, this is an important dimension. Talking about trust in this way is fine. However, the heart of truly understanding trust and to knowing our clients is to know where trust comes from.
As many people know I have a very deep passion for cricket. My love of cricket even strongly rivals my passion for the DNA Behavior business. So, why not put the two together? That is what I have done this year by launching the Cricket DNA discovery program with the Cricket Academy of the USA. […]
No matter the industry, providers of products and services are always saying something to the effect of: “You are blind as to who is going to walk in the front door for their first meeting with you. As you work with the client a bit you have a greater collection of knowledge but still not […]
In recent weeks we have strongly focused our messaging around “business transformation”. In particular, the need to address the client experience that is being provided in order to transform. So often, leaders regularly talk about getting the right people on board, developing the team and the leadership, having the right product, focusing the business plan, […]
The theme at this week’s FPA Conference in Anaheim centered on trust. Becoming the trusted advisor is not a new idea however, it is increasingly talked about. The question is how do you become the trusted advisor? How do you accelerate trust in your advisory relationships, and for that matter in any relationship? Building trust […]
At the moment, more than ever, the whole notion of trust in every aspect of our lives is important. For many, trust is very low, if not shattered, with our leaders, advisors, partners and family members. Furthermore, trust in ourselves is low, which is the core of the issue. If your business and personal relationships […]
In the past few weeks we have had a number of people contact us who are starting some form of business partnership together. Most of the time their request has been to find out more about their differences. Some of the typical issues they are seeking to understand are: 1. What are our different talents? […]
In recent years there has been a lot written about how wealth created by the first generation (the entrepreneur) is lost by the third generation. Often the second generation has also added to the wealth. Then the third generation has lost it through being irresponsible, idle or simply making poor decisions. Research from a range […]