The Business of Authority

Charles Green, legendary author of The Trusted Advisor, shares years of wisdom on building trust with clients.Talking PointsWhat a trusted advisor isWhy people in the authority space want/need to be trusted advisorsThe trust equationHow people view women and men in terms of trustMost trusted professionHow taking risks builds trustStrength of egoThe trust-building processCues clients give that show they feel heardTrust mindsetSocial media and trust buildingWhat Charles would change now if he couldHow the book fits with Charles’s business modelThe evolution of the products and services Charles created around the bookQuotable Quotes“A trusted advisor is someone you feel comfortable telling your innermost as well as your outermost thoughts.” –CG“The truth is trust doesn’t just aggregate naturally over time. It accrues in little step functions, moments when you say the right thing and somebody opens up to you.” –CG“If you aspire to be a trusted advisor to your clients, the wrong strategy would be sitting around aggressively waiting for the phone to ring.” –CG“We said it’s really not a data book, it’s more kind of a wisdom book.” –CGRelated LinksCharles GreenTrusted Advisor AssociatesThe Trusted Advisor - the book

How do you define your competition?Talking PointsWhy you need to define your competitionBrand neighborhoodsCommunicating with competitorsBeing choosy about who you work withEmpathizing with potential clientsAn authority versus_ the_ authorityWhat you can learn from sales interviewsDefining yourself as well as the competitionResearching the competitionQuotable Quotes“I think it’s important for authorities to understand who around you you should pay attention to.” –RM“I find that a lot of people who I work with have a really hard time defining their unique difference.” –JS“I don’t want to take somebody on that really should be with someone else, because it’s not going to go well.” –JS“You’ve gotta get really clear on your special sauce.” –RM

The benefits of packaging up your expertise in novel ways.Talking PointsThe Lambda SchoolChanges in Schwab’s financial planning modelValue pricingPackaging your expertiseMaking your knowledge affordable to the people who you want to helpPrioritizing moneyConnecting the dots for clientsDiversifying your income streamStarting smaller at the beginningKnowing how your product can transform a businessHow past client testimonials can help you box your expertiseGetting feedback before you’re ready to sellQuotable Quotes“You want the price of whatever you’re creating to reflect its value to your ideal user.” –RM“Sometimes money is more of a priority than a resource.” –JS“You can create a business model out of almost anything if you approach it as a business.” –RM“If you want to come at it from an expertise standpoint, the less me-focused it is, the easier it is for other people to connect the dots for you.” –JSLinksThe Lambda SchoolCharles Schwab - new pricing model

Do you know how to build trust?Talking PointsDefining trustPre-sale trust and post-sale trustDomain-specific trustHow to project an image that elicits trust from the right kind of audienceHow consistency builds trustWhy clarity is importantWho should extend their trust firstBuilding trust during sales callsMaking an impression that inspires trustDesigning a website that builds trustMaking yourself easier to contactCreating a page on your website that answers some of the questions you get asked most frequentlyWriting the way that you talkQuotable Quotes“I feel like trust is just an implicit part of that relationship, and the more we can make it explicit, I think it’s easier.” –RM“If we trust first, then the other person has the opportunity to trust back.” –RM“I don’t even call it a sales call. I call it a sales interview, and it’s just like a job interview. It goes both ways.” –JS“Tell me if you have a customer service person and I’ll tell you whether or not you should have a chatbot.” –JS

Do you know when to say yes – or no?Talking PointsMile markers for when you want to say yes or noKnowing the difference between opportunity and distractionCreating a strategy for choosing yes or noConscious yesHow saying yes to the wrong things can spiralOutsourcing when you need to say noRecognizing the kinds of people you want to say yes toRecognizing what is and isn’t a good fitThe effect of maximizing productive yesesQuotable QuotesWithout a strategy for your business, there’s no way to distinguish an opportunity from a distraction.” –JS“A 'Yes' can spiral into a whole bunch of unexpected work and distractions.” –JS“You don’t want a client nitpicking everything you’re doing.” –RM“It’s always easier to say yes to somebody who’s got a track record.” –RMRelated LinksStart With No by Jim Camp

Exploring the challenges of hiring help for home improvement projects, the empowerment of delegating tasks to professionals, understanding buyer motivations, and navigating the complexities of finding the right contractor. The discussion also touches on podcast production assistance options and the importance of providing tangible results to clients in high-ticket engagements.

Do you want to switch your niche?Talking PointsPivoting from one niche to anotherAvoiding customer confusionBuilding credibility with a new audienceGetting recognized in the new nicheHow to handle audiences that don’t mixHandling social media during a pivotHow to manage your website during a pivotWhether you can leverage your existing audienceOpportunities to leverage the old businessQuotable Quotes“Looking back on it, it really didn’t take that long, but it (switching my niche) felt like it took a long time.” –JS“The more you are recognized for the first niche, the harder it is to transition to the second.” –RM“You have to find that way, not just for your own confidence but to build your future clients’ confidence in you.” –RM“You’re going to spin down the old business one way or the other. You’re either going to sell it or you’re going to let it peter out.” –JS

Can you state your positioning in five words?Talking PointsThe single client needA minimum viable positioning statementChoosing a target market or ideal buyer that is specific enoughChoosing the right language when describing what you doDescribing outcomes that you know your clients will wantBrand neighborhoodsGetting new clients by focusing on a smaller segmentQuotable Quotes“Basically, love and fear are the two main motivators with people.” –JS“I believe that the way you pick your specialty is you start with what you really love to do and for whom you love to do it.” –RM“The feeling is more important than the words to get you motivated and started and talking to people about what you do.” –RM“One thing you’ll always see is a huge list of really impressive clients that they’ve worked with. And that, to me, becomes the thing that attracts new clients.” –JSRelated LinksTodd TresidderFinancial Mentor

What are some practical examples of leverage?Talking PointsUsing your time in a way that it’s most valuablePaying to have work done so that you can focus on more important thingsNot giving up the things you like doing that are beneficialSetting up a standard operating procedureHow to leverage getting on more podcastsKnowing what to delegateBillable hoursWriting down your operating proceduresQuotable Quotes“Once you find someone that’s good – I don’t forget about it, but so many things happen now by magic.” –JS“When you’re working with another professional, you’re not saying “do this, do this, do this, do this, ” which is a little, kind of rote to me.” –RM“So, what are you doing that drives you insane? Chances are it’s not going to be the thing you’re really good at.” –RM“Even if you just write it down for yourself and then use it each time, you’re already ahead of the game.” –JSRelated Links:Todd TresidderFinancial MentorThe Leverage Equation

Guest Todd Tresidder discusses generating wealth through leverage in your business, including compounding wealth, 3 asset classes, leveraging knowledge and experience, delegating tasks, time leverage, 10X exercises, scalability, managing risk, and the 6 types of leverage to overcome obstacles.