Tell a personal story of why you do this work
The need for future planning, creating solid exit strategies, transition plans and succession processes is just as important as ever, maybe even more so. However, many advisors are concerned that they are building their business practices as quickly as they want or need to do.
It is true that in this rapidly changing world, more professionals are leaving the corporate world and hanging up a single shingle, prepared to offer a wide range of services. This creates more competition and confusion in the marketplace. So, how can an advisor differentiate their practice and attract more prospects? Consider your story and your brand.
You have probably already heard the mantra – “stories matter,” “stories connect,” and “stories inspire.” All very true, but how does one begin to craft a compelling story that is also authentic, meaningful, and useful in the context of building a brand?
Consider some of the following questions:
- What compelled you to do this work? What life or work experience helped to fuel your decision to be a Family Business Advisor?
- What is an example of when you sincerely and positively impacted a client in a life-changing way? What happened? How did you feel?
- When you are successful in your efforts, what impact will this have on your individual clients? Your community? The world as a whole?
- Why is NOW the right time to do this work?
As you think about your answers to these questions, start to craft a few, short sentences that help to describe your journey and your impact. When my colleagues and I first began to formulate the concept of the Galliard Family Business Advisor Institute, we had an important story to tell. It went something like this:
That is our story, and we know from experience that many business owners can see themselves in that story, as can the advisors who serve them.
When you have the opportunity to speak with a prospect, don’t spend all your time telling them what you can do and how you can help. Instead, let them know WHY you do what you do. This helps to shed light on your motivations, values, integrity, and vision. Not everyone who is hanging up a shingle today can tell a personal story of why they do what they do. If you can, this provides a shine to your brand, and an opening to build trust and develop a common bond. This may help to set you apart.