The Estate Planning Profiteer

Kick ass and hold noses!

2011-11-04T11:17:00.000+11:00

Just read a great quote over at Robin Elliott's excellent joint venture blog:

General George S. Patton believed he was a reincarnated warrior leader. He said, “Now there’s another thing I want you to remember. I don’t want to get any messages saying that “we are holding our position.” We’re not holding anything. Let the Hun do that. We are advancing constantly and we’re not interested in holding onto anything except the enemy. We’re going to hold onto him by the nose and we’re going to kick him in the ass. We’re going to kick the hell out of him all the time and we’re going to go through him like crap through a goose!” He made no apologies and never compromised, in spite of massive pressure.

We're all guilty of "holding our position" at one time or another. And that's only natural, because that keeps us in our comfort zone, right?

But how comfortable are we really when we're just "holding our position"?

The possibilities once we get outside that comfort zone are endless. And while that's exciting to think about, it's also pretty scary.

Because once we step outside the zone and start taking on "the enemy" (whoever or whatever that might mean for each of us), holding him by the nose and kicking his ass in true Patton style, then our reasons for limiting ourselves begin to disappear and we have to take responsibility for our lives - because there's nothing to hold us back anymore!

Love it. Thanks Robin, just what I needed - a reminder that there really is no comfort zone, and that life is all about advancing, every day.

Have a good one.

Richard

Rebranding successes and disasters

2011-10-25T16:40:00.000+11:00

As you've probably worked out by now, I'm not a big rap for branding as a marketing strategy for most businesses, especially small businesses.

I'm more of a direct response kind of bloke - if you can't track and measure the response you're getting from a marketing exercise, think long and hard about laying out your hard earned cash on it.

But branding is a totally valid and logical exercise for many large businesses, especially those that operate in mass markets. Think Coke, Microsoft, Coles, Woolies. They live and die on the results of their branding campaigns.

And if your branding efforts stink, you'd better be quick about rebranding before you lose your market and your shirt.

Even as small and medium business owners, we can all learn plenty about consumer behaviour and psychological responses from branding campaigns and strategies.

So take a few minutes and have a look at this - a great Business Insider article on the best and worst of rebranding, on the big stage. I like the UPS story best.

Enjoy!

Richard

Best thing I've seen this week

2011-10-25T16:35:00.000+11:00

Check this out guys, just brilliant. (Thanks to Sam de Brito at SMH for the link.)
VCA 2010 RACE RUN from changoman on Vimeo.

Dealmaking 101, Arab style

2011-10-16T12:51:00.001+11:00

This just in from my boys, who have lots of Arab friends and a great sense of humour:

Dad: I want u to marry a girl of my choice.

Son: No

Dad: The girl is Bill Gates' daughter

Son: Ok!

Dad goes to see Bill Gates.

Dad: I want your daughter to marry my son.

Bill Gates: No

Dad: My son is the CEO of the World Bank

Bill Gates: Ok!

Dad goes to see the President of the World Bank

Dad: Make my son the CEO of your bank

President: No

Dad: He is the son-in-law of Bill Gates

President: Ok!

That’s the Arab way of doing business.

And that's also Dealmaking 101 right?? Look at the situation in front of you from every angle you can think of, and you might just be surprised by the possibilities.

Have a great weekend.

Richard

It's all about the relationship, right?

2011-09-25T10:09:00.000+10:00

Business - especially the professional services business - is all about relationships.

And the better you are at relationships, the more successful your business and the happier your life, right?

So if you’re sick and tired of losing clients and prospects to competitors who you know won't treat them as well as you, just because they're better at playing "the relationship game", then I'm sure you’ll find this a valuable place to visit regularly - because I want to help you turn that around.

My focus is on showing legal and financial services professionals - whether they're estate planning experts or not - how they can tap into the power that estate planning holds to build closer, deeper relationships with their clients, prospects and referral partners.

This idea sounds counter-intuitive at first, but once you start to get an appreciation and a deeper understanding of the way estate planning affects us all at such a fundamental level, you’ll begin to see the power of what I’m talking about.

Nobody else online or offline teaches professional advisers how to use estate planning in this way. The only place you can learn this stuff is with me.

Welcome aboard!

Big announcement from the Estate Planning Profiteer

2011-09-25T09:55:00.000+10:00

A quick heads up on something new coming up very soon.

Up until now, Estate Planning Profits has been a coaching and consulting business - helping owners of boutique legal and financial services businesses who are already doing well but want to do even better- backed up by my flagship members' program, Marketing With Estate Planning. And I'm very proud of it.

And today I want to let you know that there's a new Estate Planning Profits product on the way - a new program that will be video and text based, that will help any boutique legal or financial services professional expand and strengthen their client relationships. Can't announce the name of the program yet because it's not finalized, so stay tuned for updates.

I'm pretty excited about this, and about the potential for helping more people than I ever have before. And I promise you'll be the first to know once everything's ready to go.

Have a great week, talk soon.

Richard

The Trusted Advisor Manifesto - a gentle reminder

2011-08-24T16:47:00.001+10:00

First Name *
E-Mail *
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Just a quick reminder:

If you haven't got your copy of my Trusted Advisor Manifesto yet, you're missing out on something that every legal and financial services professional needs to know - How to profit from estate planning, whether you're an estate planning expert or not!

All I need is your first name and email address in the box below (I promise I'll never spam you or share your details with anyone else) and I'll send you straight to the download page. I've added some videos too, as a way of saying thanks for checking this out.

Do your clients know the real you?

2011-08-03T20:36:00.001+10:00

How do you get on with your clients?

Do they know "the real you" or just "the corporate/professional you"?

What's the difference? If you don't know - or worse still, if there isn't any difference - you could be in more trouble than you realized.

If you've been a student of marketing and business development for a while now (and if you follow me and my rants then the odds are that you have been) you'll have read about "know/like/trust".

If you haven't, the basic idea is that people buy from those that they know, like and trust, in that order:

First they must get to know you;
Once they feel they know you, then they might get to like you; and
If they know you and like you, there's a good chance that in time they'll come to trust you.

And if you get to that point - where they feel they know you, they like you and they trust you - then there's a much better chance that they'll buy from you if you've got what they want to buy.

In our business, that means that if you can get your prospects to know, like and trust you, there's a good chance that in time, if they need your professional services, you'll have a better chance to land them as clients than someone they don't have that know/like/trust relationship with.

But before you get to that point, there's the first step to deal with - they have to feel that they know you. And for many professional advisers, that can be uncomfortable.

Because for many advisers, they don't really want to get to know their prospects on anything other than a purely professional level. Anything deeper than that just doesn't sit right with them. And that's a real shame.

Maybe they're just not comfortable with people (we all know advisers like that, right? Half my former profession - the lawyers - qualify there); or they don't feel that a closer relationship is appropriate for some reason (which may be true in some rare cases); or maybe they just think that because they're "professionals", they should keep the rest of the world at arms' length. Who knows.

But whatever the reason, those guys are making a big mistake. Huge. Here's why:

If you don't let your prospects get to see the real you (assuming the real you is fit for public consumption), rather than some "professional" version of you that you keep under the desk, then you're putting the whole know/like/trust thing in danger. Because even if they think they know you, your relationship with them will be on shaky ground if it's not the real you they're used to seeing - and then at some stage, the like/trust parts of the equation will all come tumbling down.

Because your know/like/trust relationship has been built on knowing someone other that who you truly are.

And besides all that, how much fun is it to be someone you're not? Not much of a life, in my book.

Think about this stuff, it's important. And stay tuned, because I'm going to show you how to use estate planning as the perfect way to to connect the real you with your prospects, and get know/like/trust off to a great start every time.

Be good.

Richard

The Murderer's Will

2011-05-16T15:51:00.002+10:00

Here's a good story to get your week off to the right start:

Do you have any clients like that? Are you sure??

Cheers

Richard

Why "Marketing With Estate Planning"?

2011-05-04T15:35:00.001+10:00

I'm often asked about the name of my Marketing With Estate Planning program - "Why Marketing With Estate Planning" and not, say, "Marketing For Estate Planners"?"

And the answer I give is always the same - "Because they're very different animals!"

There are lots of programs out there to help estate planning professionals market their businesses better, some good, some not so good. And plenty of coaches and consultants who work in this area too, most of them doing a great job.

And for those guys and gals, a product called "Marketing For Estate Planners" would make a lot of sense, because that's what they offer.

But it wouldn't make sense for me, because what I offer is quite different. And the difference lies in the distinction between "Marketing With ..." and "Marketing For ...".

My Marketing With Estate Planning program isn't just about how expert estate planners can become better marketers, although it's certainly a great resource for those experts to have at their fingertips.

Rather than focusing on how estate planning experts can market better, Marketing With Estate Planning is a program that shows all legal and financial services professionals - whether they're estate planning experts or not - how to use estate planning to make their marketing more effective, their businesses more profitable, and their lives more enjoyable.

It's marketing with estate planning, not marketing for estate planning experts. And it can help any legal or financial services pro, estate planning expert or not, to become a better marketer.

Hope that helps clear up any confusion.

Talk soon.

Richard

The Estate Planning Profiteer's Inner Circle!

2011-05-03T14:51:00.002+10:00

If you haven't visited recently, you might not have had a look yet at my new Inner Circle coaching program

I'm really excited about this, because I've always wanted to find a way to work one on one with you guys to help you in your businesses, and to do it with an Estate Planning Profits twist. And that's exactly what you'll get as an Inner Circle member. Click here for all the details.

This isn't one of those coaching programs where you're one of a hundred others on a monthly conference call, where you don't get the chance to ask all the questions you want and really connect with the coach. This is you and me one-on-one, on the phone or better still on Skype, three times a month, working on you and your business.

Whatever you need, I'll help you get it. This is the light at the end of that tunnel you've been stuck in for so long. And it ties in perfectly with membership of my Marketing With Estate Planning program (hint: MWEP membership is available as part of your coaching, if you're quick).

As you'll understand I have spots for a very limited number of Inner Circle members, so if you think this might be for you, I suggest you move fast.

I'm looking forward to hearing from you soon.

Cheers

Richard

PS If you want to see if we get on before committing to Inner Circle membership (because this will only work if we're in it together), book in for a "Maximize Your Strategy" audit session now and we can be talking in the next couple of days. All the details are here.

The Profiteer is back!

2011-01-21T13:24:00.002+11:00

I never really went away (although I've been a very bad blogger and been missing in action here), but just updating some of my Marketing With Estate Planning stuff is bringing back the excitement of that whole project.

And not just an update, but also a new coaching program based around the hidden marketing assets every legal and financial services pro has accumulated but sadly hardly ever appreciates or uses.

Coming soon, and I'll give you the heads up here and on Twitter.

Cheers

Richard

A quick (valuable) idea for you ...

2010-02-03T05:01:00.000+11:00

Here's something very easy to do, but very powerful if you incorporate it into your everyday client interactions:

While you no doubt always consider the possible estate planning consequences that might flow for your clients from every course of action you recommend to them, do you take the next step and discuss how their beneficiaries might be affected?

Don't get defensive on me and automatically think "Of course I do you bloody idiot, do you think I'm stupid??"

Really think back to the last time you recommended a particular strategy that involved a significant estate planning angle, and think - Did you discuss in detail how your client's beneficiaries might benefit or suffer from what you proposed?

If you didn't, all's not lost.

Review what you proposed and see if there are potential beneficiary issues. And if there are, recommend that those beneficiaries who may be affected should get advice on their situation.

Who knows, maybe they'll come to you to get your suggestions.

And even if they don't, your client will be impressed that you've gone the extra mile and been the consummate professional advisor.

Talk soon

Richard

A great blog post - and it's not even mine

2009-12-17T19:01:00.000+11:00

Just read this post on Clayton Makepeace's blog (it's one of the best business blogs around) from Daniel Levis:
http://www.makepeacetotalpackage.com/daniel-levis/whats-your-big-idea-for-2010.html#more-3002

This is absolutely critical and I couldn't agree more with Daniel - just taking time to think can make the greatest opportunities come to the front of your mind. Try it, you'll be blown away.

Off to Tassie for Xmas with all the family tonight - bugger of a trip via Singapore but it'll all be worth it once we're there with a Scotch in hand!

Have a brilliant Xmas and a huge New Year. 2010 is going to be a beauty.

All the best

Richard

How much better could it be?

2009-11-16T21:15:00.000+11:00

How much better would your business be if your relationships with your prospects and clients were based on you being an understanding, empathetic, trusted advisor and leader?

If you're already in that position then I'm not telling you anything you don't already know. You already understand that your clients want advice (not just information) and leadership (not just the same stuff that everyone else offers) from someone they trust (who understands them), and if they get it, they'll follow you to the ends of the earth.

But if you're not there yet, here's how you can get there a hell of a lot quicker than if you just follow the crowd:

The fastest way I know to build relationships through empathy, while establishing yourself as a trustworthy leader, is by talking to your prospects and clients about their estate planning.

Because the issues that are addressed by estate planning are at the heart of the lives, the families, the past, present and future of every one of us. You, me , your prospects and clients.

Help people deal with their estate planning and you'll understand and appreciate what makes them tick, what they think about last thing at night and first thing in the morning.

And once you understand that, then the ways you can help and serve them and in doing so, build your business, are unlimited.

Have a good one.

Richard

Beware of red herrings (especially big buggers like this)!

2009-10-25T22:27:00.000+11:00

A while ago I wrote about "focus", and how I found it hard work at times to restrict myself to doing one thing at a time and doing it well, instead of heading off in a dozen different directions all at the same time.

Maybe you do the same?

Anyway, I've almost fallen for it again, just in the last couple of days.

An opportunity came up to work with a bloke I've admired for a long time, whose materials I've bought and used, who's become a mentor to me, even though at a distance.

This bloke was looking for someone to manage his online business while he focuses (there's that word again) on other business interests, for a share of profits and a hint of more to come down the track.

And I fell for getting in touch with him and putting my name forward for the job.

Even though I knew it was a long shot. And even though I knew deep down that I was taking my eye off the ball.

I didn't get the gig, and to be perfectly honest, I was relieved. And here's why:

Right now, I'm working for myself. I make the decisions, good or bad, and live with the fallout. I don't have to take directions (except from the Double D, naturally) and just as well, as that's something I'm not real good at.

I'm building my own business, my own way, and getting tremendous satisfaction from it. And the results are starting to come. The future's very exciting.

Why would I now want to change course and also take on responsibility for someone else's business, even someone I respect and admire? It'd be a backward step in the long run.

So, this focus thing is tricky. Most days I can see the wood for the trees, and not get sidetracked. At least, not as often as I used to.

But the temptation's still there. And I still wonder how I'd have reacted if my mentor had made me an offer.

How about you? Is focusing on the main game, keeping on the right track, a problem for you? Or are you a totally focused freak who does it easily?

Gotta go. Mum's birthday tomorrow and there's flowers to order. Must focus on that florist ...

Cheers

Richard

Financial planners (and conservative investment) on the march ...

2009-10-18T20:28:00.000+11:00

If you read Financial Advisor Magazine you might have already seen this, but if not, here's a link:

http://www.fa-mag.com/fa-news/4594-independent-financial-planners-top-choice-of-affluent.html

Interesting read.

Cheers

Richard

Something to think (seriously) about ...

2009-10-10T20:54:00.000+11:00

Everything you do for your clients involves estate planning, or has a connection with or implication for estate planning.

Everything.

That means that:

every contact
every transaction
every meeting

gives you an opportunity to either help your clients with their estate planning advice or services, or refer them on to someone who can give them that advice or provide those services.

How powerful is that!!

That's why I love this stuff. I hope you do too.

Feel the love baby.

Richard

Don't you love checklists?

2009-09-28T19:37:00.000+10:00

I do. But maybe that's just because I'm getting old and forgetful. Now where was I?

Oh yeah, I remember now ...

If you gave every new prospect and client a checklist of events that should trigger an estate planning review (with you, naturally) and all your staff did the same, how do you think that might affect your bottom line?

A very big (and free, to you) tip, because I'm such a good bloke.

Richard :)

Are your staff onboard?

2009-09-18T19:17:00.000+10:00

How much do your staff members understand about estate planning?

If you've never taken the time to sit down with all of your staff - professionals, office staff, everyone - and explain the basics of estate planning and how important it is to your clients, you're missing out on a great referral source.

Think about it - if everyone in your office knows that you can help people plan for their families' future with some simple estate planning advice, it's impossible to not get referrals, even if you do nothing else!

Whenever any of your employees has a friend or family member who's thinking about estate planning, you want to be the first person who comes to mind.

Make it happen. All it takes is letting your staff members know how you can help, and encouraging them to pass the news on.

Easy.

Richard

A new source of estate planning profits for experts too ...

2009-09-06T16:51:00.000+10:00

I've been focusing up til now mainly on how financial services professionals can boost the bottom line of their businesses by using estate planning in very specific ways - even if they're not estate planning experts themselves.

But there's another side to all this that's just as exciting, for a different group of professionals - those financial and legal professionals who are estate planning specialists.

That's a massive industry, and growing all the time.

And up til now, the industry focus has been on how to generate more income - through fees, commissions, whatever - from the estate planning work itself.

But that's not what I'm all about.

If you're an estate planning professional - a lawyer or financial services professional who advises your clients on their estate planning needs - then I've got some ideas about how you can add tremendous value to your business (as well as deliver a better service to your clients) by spending some time on what I call The Human Element of Estate Planning.

Your clients are more than just bundles of assets, or controllers of trusts, or owners of corporate entities. First and foremost they're people, and they want you to focus just as much on that as on their finances and tax structures, whether they realize it or not.

If you're interested in learning more about The Human Element of Estate Planning, have a look at Marketing With Estate Planning and make sure to get a copy of The Trusted Advisor Manifesto to find out what's really important to your clients.

Have a good one.

Richard

Here's a surprise ...

2009-08-22T21:00:00.000+10:00

This blogging lark is getting to be a habit!

I'll be the first to admit that blogging was a stretch for me at first. It seemed like one more job on the list, and the list was already pretty long.

But I must have got over "the hump" at some stage because now I feel like I'm hitting my stride and really enjoying it.

I hope you're getting something from this too. Let me know, eh?

And if you've ever thought about starting your own blog, I can highly recommend it.

Cheers

Richard

Why blue oceans are more important than ever

2009-08-10T19:58:00.000+10:00

Have you heard of Blue Ocean Strategy? If not, take a few minutes right now and have a look at http://www.blueoceanstrategy.com/

If you can find a "blue ocean" for your business in your market, imagine the possibilities!

When I started Estate Planning Profits I was in a blue ocean of my own without even realizing it.

And it's been the best thing I ever did.

Take some time right now to look for your own blue ocean - I guarantee you won't be disappointed.

Have a great day.

Richard

One day we'll head home ... maybe

2009-08-01T22:30:00.000+10:00

It's a weird life being an expat, living in a country that you know can never really be "home" no matter how long you live there.

We've been in Abu Dhabi for 8 years now, and in many ways it is home for us. Many of our dearest friends are here, our boys have pretty much all their friends here (they were 5 and 7 when we arrived) and go to a great school that they don't want to leave.

We got our beautiful Arabian Mau cat Gabby here 3 years ago and she's now as much a part of the family as any of us (that's her above, relaxing with Dermie).

And although we're renting our apartment, because we're all here and surrounded by our "stuff" (or most of it), it really does feel like it's "our place".

It's recently become possible for expats like us to buy apartments and villas in Abu Dhabi, so if that ever happens we'll have put down even more roots than we have so far.

But even then, we know that the day will come when we decide that enough's enough, the time's finally right, and it's time to head back to Oz.

Then the big question is, where would we go?

The DD and I are both from Tasmania and most of our family live there, so that's a big possibility. But then there's Queensland (where my brother and his wife live) because after all, we're used to the heat now and Tassie's bloody freezing in the winter.

If we end up buying a place here in the UAE, that will probably put off the inevitable move for a bit longer, but who knows ...

The never-ending conversation ... Do you have those at your place too?

I hope it's not just us!

"But I'm not an estate planning expert!"

2009-07-25T22:08:00.000+10:00

I can understand why many financial services professionals of all shapes and sizes feel a bit uneasy about the idea of "Marketing With Estate Planning" when they don't see themselves as estate planning experts or specialists.

After all, isn't it dangerous to go off half-cocked giving advice in areas that you're not really competent in?

Yes, you're absolutely right. That is dangerous.

But that's not what I'm about.

The whole philosophy behind what I teach is that because every contact you have with our clients and prospects touches on estate planning in one way or another, then you should take advantage of that and use it in developing your relationships with the people you're helping.

Now if you're an estate planning expert, that may mean giving some specific advice or suggesting a particular planning strategy that your client can use to their benefit.

But just because you're not an estate planning expert, that doesn't mean you can't recognize when an estate planning opportunity exists and refer your client on to someone who can help. And in doing that, in making the referral, you're achieving at least three things:

Firstly, you're showing your client that you're someone who's always looking for opportunities for them to improve their situation
Secondly, that you're secure enough in your own ability that you're willing to refer them to other experts if they need advice outside your own area of expertise
And thirdly, you're building up brownie points with your referral partners, and setting yourself up for payback of one kind or another sometime down the track.

Feel better now about the concept of "Marketing With Estate Planning"? Great.

Now give it a try for yourself.

Good luck.

Richard

Celeb Estate Planning and You

2009-07-05T19:30:00.001+10:00

I wrote in the MWEP Hot Sheet in May about the value of blogging, and how essential it is these days to keep an up to date conversation going with your prospects and clients. (*Marketing With Estate Planning members get access to all past Hot Sheets as a benefit of their membership*).

And from the blogging and Twittering going on amongst the estate planning fraternity since Jacko and Farrah passed away last week, I can see that I'll be covering more social media issues in the months to come. This is getting more important by the day.

Check out the exposure Jennifer Sawday, a California estate planning attorney, got from a simple post on her blog. Talk about the snowball effect!

Now, how could you get a similar result in your market from blogging about water cooler issues with an estate planning twist? Or Tweeting? Or writing a regular newspaper column or hosting a weekly radio spot?

Marketing With Estate Planning members get this stuff, and put it to use in their businesses every day. Smart.

Enjoy your day.

Richard

A Blast from the Past

2009-06-27T15:54:00.000+10:00

I’ve just been looking through some articles I wrote back in 2005, and this one caught my eye.
Have a think about how you can use this story to get your clients talking about their estate planning:

“Estate Planning in the News”

Remember yesterday I said the “some of the most important EstatePlanning stories in recent memory” have dominated news reports allaround the world recently?

What was I talking about?

I was talking about two stories in particular that dominated the newsfor weeks, and captivated the attention of people all around the world.

The first of those stories - the death of Pope John Paul The Second - hada profound effect on the lives of over 1 billion people all over the world.

As head of the world’s one billion plus Catholics, the Pope’s death was an event with huge consequences, because the choice of his successor would influence the way the CatholicChurch evolved in the years to come.

The world waited to discover who would be chosen as the new Pope.

Would he be more liberal in his teachings? Less liberal? Would he continue the policies of his predecessor, or take his followers in a newdirection?

How would this affect Catholics? Other Christians? Muslims, Buddhists, followers of other religions?

What might the other, wider political effects be?

Now I’m not Catholic, and so the choice of a new Pope had no directeffect on me.

But in Estate Planning terms, I was fascinated by the way the process unfolded. Here’s why:

What we saw at work as the Cardinals of the Catholic Church gatheredin Rome to appoint a successor to the Pope was “institutional EstatePlanning” at its best.

Never at any stage of this process - from the death of Pope John Paul until the white smoke appeared to tell the world that a new Pope had been elected - was there any doubt that a decision would be made in accordancewith the rules that had been followed for centuries.

Although the identity of the new Pope wasn’t certain, there was never any doubt that someone would be appointed to fill the gap and that the age old, tried and true process of electing him would work.

And because of that certainty, there was never doubt that whoever was elected by the cardinals would be accepted by the rest of the church.

Certainty. Stability. Calm. All because the Catholic Church has its Estate Planning in order.

And the same principles apply to you and me.

If we have our Estate Planning organized, if we’ve done what we need to so that there’s a plan in place to take care of things after we’re gone, then we’ll leave a legacy of certainty, stability and calm.

And what could be more important to leave for our family and friends?

And for our own peace of mind?

I hope that’s given you some ideas. There’s nothing like a blast from the past eh?

Cheers

Richard

Are you a Seth Godin fan too?

2009-06-25T22:50:00.000+10:00

Ever since I read Unleashing The Ideavirus a couple of years ago I’ve been a fan of Seth Godin.

Always gets me thinking outside the box when I listen to someone like Seth, who doesn’t even believe in boxes.

Anyway, I’ve just been watching 17 minutes of classis Seth on ted.com (if you haven’t checked that site out, make it a priority) talking about:

sliced bread
oyaku (no, I’d never heard of it either)
purple cows
people who buy $20k stereos
and why very good is bad and why safe is risky.

None of this may sound relevant to your business, but believe me, it’s very relevant. Here’s the link to the video:
http://www.ted.com/index.php/talks/seth_godin_on_sliced_bread.html

Seth’s comments on “idea diffusion” and being “remarkable” are critical for all of us in business to understand and think about.

To your prosperity.

Richard

Endless possibilities, if you just think about it ...

2009-06-18T20:12:00.000+10:00

I met a very interesting bloke recently.

He'd been referred to me to give him some ideas on how he could move forward with a project that had stalled, a project that I found out was really his life's work and the legacy he wanted to leave for his children.

Without going into all the details, this fellow's an expert in a particular area who has written a series of educational books for both adults and children which teach his unique learning method.

He's had some limited success self-publishing and marketing his books himself, but in 1999 he was offered several hundred thousand pounds by a UK publisher as an advance on the publishing rights. For a number of reasons that deal didn't go ahead, largely because my friend isn't motivated solely by money - he's more interested in working with people he trusts, people he feels comfortable with, and who share his vision for spreading his work far and wide for the benefit of everyone who reads it and for better understanding between cultures and people.

The great benefit I got out of our meeting was working through all the possibilities my friend has for his project, as far as potential markets and formats go.

At the moment he has a series of books for children and another for adults. There's a perfect opportunity to add more books, workbooks, updates, as well as produce all his material in different formats - CDs, DVDs, interactive websites, newsletters, and so on. A lifetime's work there alone.

Then he needs to think about all the potential markets he could target, firstly for the children's version and then for the adults.

For kids, he can sell direct to schools, families, children's organizations. For adults, he can sell to individuals, to governments, to companies. He can target specific occupations with niche versions of his products, which would sell at substantially higher prices.

He could produce versions of any of his products in different languages, focused on particular countries or cultural groups.

Now, not all these possibilities may be relevant to your business. But I'll bet many of them are, if you take a bit of time and think about it.

So, there's tonight's homework. See how many different potential markets there are for your products or services, and how many different formats you could use to offer your customers or clients alternative versions of what you have at present.

You'll be blown away, I guarantee it.

Richard

A Reminder of the Power of the Trusted Advisor

2009-06-17T04:45:00.000+10:00

Here's something I wrote a couple of years ago - have a think about this:

Because everything you do for your clients has a connection with estate planning - every contact, every transaction, every meeting gives you an opportunity to help and guide your clients by either: offering estate planning advice or services, or referring them to someone who can give them the advice or service that they need, putting you, as your clients’ trusted advisor, in an incredibly influential position."

Now, it’s quite a while since I wrote that, but it still feels good to read it, because it sums up perfectly what my business is all about.

Becoming the trusted advisor to your clients is the most powerful thing you could ever do for yor business and its profitability, because once you’re in that position, guess what - you don’t have any competition!

Once your clients trust you and the recommendations you make, there’s no way they’ll be shopping around to see if they can get the services you offer cheaper elsewhere … no way they’ll be talking to your competitors and thinking about jumping ship … no way they won’t consider any and all advice, suggestions and recommendations you make to them.

As a trusted advisor, you’ll be pretty much untouchable as long as you keep delivering exceptional value and service for your clients, and it goes without saying that you’ll be doing exactly that, right?

And the very best way to get your clients’ attention and show how you can take on the role as their trusted advisor is to start with their estate planning.

Whether you’re an estate planning expert or not, estate planning can be your foot in the door.

Here’s how to get started.

Richard

A Big Lesson from American Idol

2009-06-12T20:21:00.000+10:00

Did you watch American Idol this season? It was essential viewing at our place, and we reckoned this was the best year yet.

Adam looked like being the runaway winner, but the late money for Chris as the smokie proved to be spot on.

But Idol's much more than just a singing competition. It's the most watched show on US TV again this year by a big margin, and that means it's a massive business in its own right.

Now according to The New York Times, even though viewer numbers are down this season, the show's making more money than ever. And the reason's pretty simple - the longer the show's been going, the more ways the producers have found to cash in on its success.

I'm sure you've heard all about "multiple streams of income" right? Blokes like Bob Allen have been banging on for years about how important it is for your business to develop a number of revenue streams so that if some dry up, you'll still have cash flowing in.

Jay Abraham talks about building as many "pillars" as you can to hold up your "parthenon". Same principle, different way of describing the benefits.

Well that's exactly why American Idol's such a profit monster - there's not just one or two ways that the show generates income, there are dozens. And every year, those clever guys who produce the show come up with more.

Pretty smart I reckon. And well worth thinking about for your business.

You can read the story here.

And do me a favour - don't dismiss this idea just because the story's about a TV show and your business is mortgage broking or whatever.

Think about the principle, not the specifics. And work out how you can start building multiple streams of income in your business, multiple pillars to hold up your parthenon.

Because the longer this recession goes on, the more that kind of thinking will put you miles ahead of the pack. And when the economy starts to come good again, you'll really see the benefit of all that hard work.

Cheers

Richard

The Great Life

2009-06-11T21:41:00.000+10:00

I picked up the idea of "Living the Great Life” from Matt Furey. Matt writes about all sorts of stuff - fitness training, personal development, business success, and plenty more.

He’s obnoxious, opinionated and politically incorrect, and just my sort of bloke. If you don’t know about Matt, go to his site and sign up for his free newsletter, you’ll love it - or hate it.

Anyway, Matt talks about the importance of living what he calls “The Great Life”.

Doing what you want and living life on your terms, not being a slave to a job or a business that limits you, that doesn’t reward you the way it should, that grinds you down rather than lifting you up.

Getting out of situations that force you to be less than you could be, that stifle your potential and your enjoyment of life.

Now, your version of The Great Life will be different from mine. What’s important to me may not be to you, and that’s the way it should be.

But the idea, the concept of the Great Life, is the same for everyone - fulfilling your potential doing what you love to do, living life to the full (whatever that may mean to you), spending time with the ones you love, and generally having a ball.

Sounds good? It certainly does to me, and it’s what I’m working on every day.

So, how about you? Are you working on your version of the Great Life? I hope so.

The Great Life. Worth thinking about.

Keep working on it. I know I am.

Richard

Estate Planning Sucks!

2009-06-02T07:38:00.000+10:00

Estate Planning sucks.

Sorry to put a dampener on things, but it’s a fact. As far as your clients and prospects are concerned, Estate Planning does suck.

Most people (not you and I, of course) have got better things to do than sit around worrying about stuff like wills, or powers of attorney, or tax rates, right? And if they haven’t then they need to get out more.

And that’s without even thinking about death. And not just anybody’s death … their own death! I mean, give me a break. Who wants to spend time thinking about that? Not me, that’s for sure.

But there’s a problem. A big problem. And we have to be grown up about this, because it’s not the kind of problem that might go away if we just ignore it.

Here’s the problem:

We all have to think about Estate Planning. Whether we like it or not. We don’t have a choice.

Because people rely on us. Our families rely on us. They rely on us to look after them. They rely on us to do the right thing.

And getting our Estate Planning sorted out is part of that. It’s part of taking care of your family. It’s part of doing the right thing. And so whether you like it or not, you’ve got to deal with it.

And so do your clients.

So guess what? What’s a big problem for all of us is also a big opportunity for you.

Because if you can help solve that big estate planning problem for your clients, they’ll love you forever.

You’ll become their Trusted Advisor. And that’s what it’s all about.

So here’s the formula: Solving big problems = clients who love you forever.

Gotta be worth the effort.

Richard

A "brutal crash course" in getting rich

2009-05-30T18:08:00.000+10:00

Very quickly - read this article, you won’t be disappointed:

http://business.theage.com.au/business/want-to-get-rich-heres-a-brutal-crash-course-20090403-9rn7.html

Have a great weekend!

Richard

What can we learn from Jade?

2009-05-26T15:41:00.000+10:00

Jade Goody died earlier this year.

You might not have heard of Jade, especially if you live in the States, but she was a very big reality TV star in the UK who sadly died of cancer, aged just 27.

Now, like many reality TV stars, Jade wasn’t the most likeable character. Her notoriety really took off when she clashed with Bollywood darling Shilpa Shetty over an allegedly racist remark (made by Jade) when they were both contestants on TV’s Celebrity Big Brother. Did wonders for the ratings, no doubt.

Jade’s life seemed to lurch from one drama to the next, usually accompanied by very public tears, confessions, denials, breakups, reconciliations … all reported with glee, of course, by a shocked and outraged(!) tabloid press. (Nobody does bad tabloid journalism quite like the Poms. I’m just glad they don’t put the same effort into their cricket team, or they’d flog us every time).
Her biggest drama, though, was still to come, when she was diagnosed with cervical cancer in 2008. And the way Jade dealt with her illness from that time up until she died holds two big lessons for you and I.

Firstly, Jade didn’t change the person she was just because she’s been hit with that Mack truck called cancer. She seemed to take her diagnosis in her stride, and continued on with the very public life she’d had for years.

Her illness was written about, filmed, talked about, analysed, on TV and radio and in the press every day. She gave interviews, talked about what was happening to her, how it was affecting her two little boys, and even got married just days before she died.

Jade wasn’t prepared to just lay down and give up - she went out with her boots on. Good on her.

The second lesson Jade left us was her estate planning.

All those interviews, exclusive wedding picture deals, just about everything her celebrity publicist Max Clifford set up for her in the last few months of her life, were done for a reason - she wanted to be sure to do all she could to provide for her sons in the time she had left. And by all accounts she did a great job of that, too.

Well done Jade. We should all take a leaf out of your book.

Not a bad story eh? Now, how about a quick email to your clients telling them about Jade, and suggesting that it might be time for them to think about reviewing their own estate planning?

Do it now before you forget.

Richard

"Someone who can look them in the eye ..."

2009-05-24T15:31:00.000+10:00

Just heard an interview on BBC radio with a Swiss banker, talking about (what else??) the global financial debacle. He runs what was described as “a small private bank”, and most of his clients are worth between $2m and $100m.

The interviewer asked whether any of his clients, despite being what most people would consider wealthy or at least very comfortable financially, were “scared” at the moment and truly worried about losing their hard earned cash.

The banker said yes, many were very scared, regardless of how much they had and how much they’d already lost, which is apparently up to 40% for some of them.

Not surprising, right? I mean, it’s all relative - 40% of whatever you’ve got squirreled away is still 40% of what you had, whether it’s $100 or $100 million.

But then he said something that was very important for you and me: What his clients really wanted, according to this Swiss banker, and what he could offer them that the big banks often can’t, is someone they know who will sit down with them, look them in the eye, and tell them exactly what’s happening with their money.

Good news or bad, they just want someone they know to give them the truth.

And that’s just the position you can be in as the Trusted Advisor to your clients.

The one person they can turn to with confidence, the one who’ll look them in the eye and give it to them straight.

The one they can rely on, the one whose opinion matters to them.

Pretty powerful, right? Powerful for the Swiss banker, and powerful for you.

If you haven’t got your copy of The Trusted Advisor Manifesto yet, get on it. The link’s over on the right hand side of the page.

Cheers

Richard

Here's why estate planning is much more than just a pain in the arse:

2009-05-18T03:10:00.000+10:00

For most financial advisors, “Have you got your estate planning up to date?” is just another question on their new client questionnaire.

If the answer from the client is No, then they hopefully advise their new client to go and see her estate planner to get an up to date will sorted out, and that’ll be the end of that until they talk again for the client’s yearly review, right?

Because let’s face it - for most advisors, estate planning is nothing more than a pain in the arse.

You don’t specialize in it, it’s not your “thing”, it doesn’t really generate any fees, so why spend any time on it? Why not just tick the box and move on to what you really want to talk to your client about, right?

Wrong – because there’s a better way. A way that you can talk to your clients about estate planning that is far better for you and far better for them.

You’ll be adding value to the service you provide, building stronger relationships, you’ll be able to generate new referrals from new sources, and build a stronger, more stable platform for your business and your family.

Try this instead - Ask your client what legacy she wants to leave after she’s gone.

I don’t mean legacy in the financial sense - I mean as a mother, a wife, a sister, a friend, a member of her community.

How does she want to be remembered? And by whom? And how could she go about making that happen?

Just watch what happens once you start asking questions like that.

Immediately, your client will realize that you’re not like any other financial advisor she’s ever spoken to before. You actually care about her as a person, not just a fee payer. You’re real. You can be trusted.

Powerful, right? And much more rewarding in so many ways, for both of you.

You’ll still have to ask about her estate planning arrangements of course, but now she’ll be thinking about you - and about her estate planning - in a whole new light.

Just one warning - if you’re going to do this, you have to be fair dinkum about it. You have to really care about your clients. Because if you don’t, you’ll be rightly shown up as the shallow opportunist that you are.

And we don’t want that now, do we? I’m serious - this is powerful stuff, so use it for good, not evil.

Or else.

Richard

An evening with the super rich

2009-05-10T20:08:00.000+10:00

Had a great night earlier this year with some friends at the first Abu Dhabi Yacht Show - the latest event on the “super yacht” calendar.

We were lucky enough to score an invitation to the show and to the opening cocktail party indirectly through the Double D’s work.

Without that, I think we’d be battling to make the list - according to the invitation, the show was intended to “assemble a pantheon of the world’s highest net-worth individuals, drawn together by shared interests and passions. The planet’s captains of the industry will mingle with Middle Eastern royalty and the Gulf’s most famous faces.” (I’m pretty sure we don’t fit into any of those categories, although the Double D has aspirations!)

But just going to an event like that is fantastic - it gives you a whole new perspective and an appreciation that there are actually plenty of people around with multiple millions to spend on whatever their hearts desire. There were some of “the beautiful people” there for sure, but lots of ordinary folks like us too, with their kids in tow, looking seriously at these beautiful boats, maybe even looking to buy.

So even though things are grim at the moment, remember that there’s a whole other world out there. A world where people are still spending because they’re still making plenty of money doing what they do very successfully, and having a great time doing it.

And that’s a world I wouldn’t mind spending more time in. What do you reckon?

I’ve added some more photos of the yacht show over at my Facebook page - here’s the link: http://www.facebook.com/album.php?aid=2021751&id=1198774172&l=46ffdd066d

Food for thought!

Too many projects, too little focus, too much fun ...

2009-05-07T21:55:00.000+10:00

The last couple of weeks have been a bit of a blur for me, and I’ve done what I’m always trying to avoid - I’ve lost focus.

But two good things have come out of this.

First, I can now recognize when I’ve lost focus and then work on getting back on track. This hasn’t always been the case, so maybe I’m starting to grow up finally.

And second, although I’ve been working on several projects at once instead of focusing on just one at a time, I can see that the work I’m doing - even though it’s a bit scattered at the moment - will be life changing for my family in the longer term. So that’s pretty bloody exciting matey.

We’ve also been busier than usual on the social front recently, and that’s taken its toll too. I don’t know about you, but a couple of late nights in a row these days and I’m stuffed for days.

Sad but true.

Apart from spending time with some dear friends, we:

went to the ANCAC Day service and barbie at The Club which was moving and sad as it always is, but something we look forward to as Aussies abroad. An ANZAC service on the beach, with Aussies, New Zealanders and Turks all getting together to remember a hugely significant event in our history. Shane Watson, Roy and Stuie Clark were ther too, which was a bonus.
checked out the first WOMAD Abu Dhabi festival which was brilliant, great atmosphere, music, organization. We missed Robert Plant on the final night but saw Etran Finatawa for the first time and we’ll never forget them.
watched Australia beat Pakistan at the cricket in Abu Dhabi, and saw Clarkey get a ton and Dougy take a five for, and
went pistol shooting for the first time at the UAE Officers Club just up the road from home. The boys loved it, very gangsta.

Next week the Double D’s off to London for a girls’ weekend, then the outlaws arrive for a week or so, Dermie’s off to Barcelona next month and then school’s finished til September …. where’s 2009 gone??

Anyway, more to come later about my new project. The stuff I’m learning has blown me away, and I know I’ll be helping hundreds of people with this in the months and years to come.

Happy days

Richard