Updated: May 12
Value is directly related to how much need there is.
A band-aid always has value, and it’s worth it to keep a stash of them handy. But when someone is bleeding, its value immediately goes up. When you’re doing the bleeding, suddenly – and precisely because you really need it – the value of the bandage skyrockets.
Urgency equals value. So does scarcity. Red diamonds are rare and expensive. So too is a mint-condition copy of Batman #1.
The most precious things on earth though – and especially now it seems – are empathy, compassion and generosity.
You notice when a business is nice to you and treats you like a person instead of a customer or a problem. Nobody wants to have to advocate for themselves. When someone chooses to be nice to us, it surprises us. It creates the spark of connection, and a connection is far easier to endorse than a product or a service.
For years people from all over have told me that I remind them of “my friend back home.” I have a theory. I bet if I were to meet all these people, none of them would look like me. What I remind people of is the feeling of their friend back home.
When you’re a financial advisor and you want to succeed by creating value for your clients above and beyond the products and services, then be willing to connect through the generosity of your intentions and actions.
Be willing to offer the help that is needed (urgent even) and hard to find. This isn’t the help that you would list under your professional services which, while urgent, are not scarce. They are available everywhere both physically and digitally and therefore aren’t what I’d advise you to lead with.