Three elements to this week’s blog:
- Problem – a situation, person, or thing that needs attention and needs to be dealt with or
- Catastrophe – a situation, person, or thing that needs attention and needs to be dealt with or
- Opportunity – an occasion or situation that makes it possible to do something that you want to do or must do, or the possibility of doing something.
Perhaps we could also throw in a cliché at this point: one man’s meat is another man’s poison.
Now we have the elements that drive a professional advisor relationship. A person with a problem, facing what they believe is a catastrophe, seeking advice to transform the dilemma into an opportunity.
There we have it, thirty-two words that sum up a productive client advisor relationship. Client wins, advisor wins. Perfect…
Of course, in the real world it may not always be possible to view an outcome as an opportunity; what if you should advise a client to liquidate their business? How could that ever be an opportunity? Well, perhaps surrendering to the inevitable allows the client to move on and start again?
From the advisor’s point of view transforming problems into opportunities is the name of the game; it’s when a client can really appreciate the value of the work done on their behalf. It’s when the advisor can translate that value into fees that are more likely paid, and willingly, together with a heartfelt thank you.