You Have to Believe The power of being a different kind of financial advisor byStan Hustad It's a second-hand story. A salesman told it to me, so I can't verify that it actually happened! But I believe it is a story that tells a truth. The salesman was in a large southern city over the weekend in preparation for a Monday business meeting. He awoke on Sunday morning and discovered that it was a beautiful sunny day. Just the kind of day, which was perfect for a long morning walk. He decided to do just that. While he was on his walk, he rounded a corner and came alongside what he could see and hear was a very enthusiastic evangelical church. Standing at the top of the stairs were a group of well-dressed and very happy young men and women. One of them spotted the salesman as he made his way down the sidewalk and immediately left his perch at the top of the stairs. He came down to the man; and with intensity in his voice and fire in his eyes said, "Brother, do you believe?"The salesman was quite taken back by this and simply stood there, somewhat dumbfounded, and not knowing what to say. The questioner asked again with even greater enthusiasm, "Brother, do you believe?!"The man says that he finally caught his wits, stood up straight, and looked right back at the young man and said, "Yes, I believe!"He didn't know exactly what the young man was talking about, but he was smart enough to know that that was probably the answer that was wanted. He was right. The inquirer seemed satisfied with that answer, smiled, gave him a hearty handshake and went back up to the top of the stairs. After affirming his "belief," the salesman continued the rest of his walk. In relating this story to me, the salesman pointed out that even though he was not of that particular religious faith, and certainly did not appreciate their style, he was impressed by their intensity. Then after a long pause, he said, "Do you know what? I may not appreciate what they did, but you know, they got the question right. Do you believe?" The next story I know to be true. In a focus group that was being held on public television about what people were looking for in the next president of the United States, a group commented on all of the various characteristics and character traits for which they were looking. But the participant who struck the deepest nerve said this, "You know what? I think I'm really looking for somebody who does not check the polls or the latest focus group results. What I want is someone who really believes in something, no matter what." These stories illustrate a truth about our world today, and a truth that you need to consider as you seek to market your professional services. In the financial planning and advising industry, it is increasingly important to the clientele that we want to work with. People want to know, "Do you believe, and what do you believe?" As a performance coach to many high performers in the industry, I am increasingly challenging them to put together a belief statement. This is not to be construed as an investment philosophy per se on one end nor is it to be a statement of religious beliefs on the other end. But including those two and in between, I ask them to write down and share with their clients and those they are seeking to work with, "what they believe." Can you do that? If you can, you will increasingly find that people will be attracted to you by your beliefs. On the other hand, those who do not believe as you do, share your values, and therefore might be a nuisance to you, will not come to you. Warren Buffet, who knows something about investing, said that he only invests in companies that he likes and admires. He carries on to say that he only wishes to work with people that he finds pleasant, likes, and admires. He wants to work with people who share his values and believe some of the things that he believes are important. Let's take some of these ideas and start to do some powerful personal performance marketing by defining what we do and what we believe. First of all, make a statement as to what it is that you do. You are in the financial planning or insurance industry, but that is not what you do. You must work hard and get some coaching if necessary, to help you define the actual business you are in terms of: *What expertise do you have and can provide to clients. What specific value and services do you deliver, to the clients and prospects that you seek to work with, What do you want the people you work with to feel, experience, and be able to do because they work with you? It has been my experience that only ten percent of the people in our financial service industries have the focus to be able to do this simple statement of business mission and intention. Work very hard to be able to define who you are, what you do, and who you serve, and the results you seek for those you serve. Now with you and the people you seek to serve in mind, declare the values and beliefs that motivate your life, your view of true success, what your business believes about the way it operates, and what money should mean to us all. I would encourage you to simply do a list of "beliefs". Let me help you start by asking you to work on these three topics. First, almost every insurance and financial advisor claims that they are trying to help people be successful in reaching their goals. Well, what does success mean to you? We often say that if you don't know where you are going, you will land up some place else. What is success? What does success mean to you personally? Is there a difference between what most people believe success to be, and what you believe it to be? If you claim to be a success advisor, what do you mean by success? Tell me what you believe about success. Second, what do you believe about the purpose and meaning of life? You may resist at this point and claim that you are not a counselor or a spiritual advisor, you are simply a financial advisor. That may be true, but increasingly, I am discovering that as people make money, they need help in knowing what to do with it. The goal of life is not to have more money, but to have a life that has meaning, purpose, direction, and success in it. Money is a way of helping us through the small issues of life and to leave a legacy to others. Those advisors who are most successful in attracting and helping significant clients, are those who have taken some time to think about and communicate their thoughts as to some of the big issues of life. They then demonstrate their expertise in helping people not only do well with their money, but do well in their life. What do you believe about true success and the things that make for a good life? In a summary statement, that maybe you can use for your clients, I helped an advisor say this belief about their practice in terms of life. "We help people live well, do well, finish well, and leave well." Think about what something like that might mean as you help your prospect and client do the important things with their money and their life. Be a philosopher, be a thinker, and be a life coach as well as a first-rate financial advisor. Number three, what do you believe about money? One well-known coach suggests that the advisor ask prospects and clients what is important about money to them. In this way, the advisor discovers the values that are important to the client. I suggest that the same question needs to be directed to us. What does money mean to you? If I am going to trust you with my future income, my retirement well-being and the money that will fund many of the things that I want and hope for in life, I would like to know what you believe about money. Write some statements as to the role, the purpose, and the meaning of money for you, and what you believe it could and should mean to others. Now don't get me wrong, this is not a time to impose your beliefs upon others. It doesn't mean that everybody that you work with will believe exactly as you believe. But what it does is help you define your beliefs more clearly and in doing so you will attract those people whose beliefs are similar to yours. Recently I put a topnotch financial advisor through this exercise; and after doing so, he sat in his chair for the longest time and then he said, "That's it, now I understand." In looking back over the 15 years of his practice, he had discovered in that moment of enlightenment that most of the clients who gave him great difficulties in his practice were those whom he knew did not share his significant values. They were people who did not see the world, money, life, and success in somewhat the same way that he saw it. We work best with those who have similar values to us. That is what Warren Buffet is saying to you and to me, and as another master teacher said, "Let him who has ears, let him hear." Finally, take some time to come up with some beliefs that you have about the significant issues that you have discovered in your practice. Do you believe that most people are unprepared and fearful of good advice and planning? Do you believe that even the best prepared usually have some significant gaps in their plans and aspirations? Do you believe that success is never a do-it-yourself proposition, but can only be achieved through a significant team and professional approach to the financial issues successful people face? Based on your experience, what do you believe about the financial advising and planning process? When you know what you believe, you become passionate, compassionate, focused, effective, decisive, influential and attractive. You become the kind of person you would love to have for a client. Remember the kind of person you are is the kind of client you will get. As my salesman friend said, "I may not have appreciated their style, but you know what, they got the question right ... "Do you believe?" Stan Hustad is the leader of the PTM Group a performance coaching and personal performance marketing service to the insurance and investment industry. His program, The Difference Is You helps insurance and financial advisors market themselves with confidence, creativity, and high impact. He can be reached at (612) 729-0420, Fax (612) 729-0962, e-mail: ptmark @aol.com, or visit his web site atwww.ptmgroup.com