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Hub You - Creating Extreme Loyalty: Speaking of Motivation
Ethics in professional accountancy are of utmost importance. Now as the business and financial world is adopting international accounting and auditing standards, it is becoming all the more necessary to adhere to certain Code of Ethics prescribed by international and national accountancy bodies. Before arguing in favour of the topic, let’s have a look at some basic concepts:ProfessionA profession is an occupation that requires extensive tra
"Whereupon," says the broker, "the guy turned into what I call the Rasputin Account: Nothing I did could kill it." Nothing. No matter how badly her recommendations performed, the contractor kept coming back for more.
As I said, any number of other financial consultants tell the same type of story. Which is why brokerages teac
Differentiation in business is not something you go out and buy off the shelf and plug into your company. It’s something you have to strategically identify, develop, refine and promote. The best place to start is looking at your competition. What is it you offer that none of those other companies do? What is it about your business that makes you stand above the rest in the eyes of your customers?Whatever THAT thing is, you need to hang your hat on i
Stockbrokers base their success on making their clients money. Or maybe not. The follow story is one of many similar tales I’ve heard from brokers over the years.
Back in the early seventies, when the market was dropping faster than Richard Nixon’s approval ratings, a stockbroker was trying to land a well-to-do contractor as a client. She wasn't having much luck with him over the phone so one afternoon she stopped by his office. It wasn't going any better until, searching for something to build a little rapport, she noticed a newspaper clipping mounted on a plaque on one wall. Accompanying the story was a picture of a little girl in a ballet outfit.
"Is that your daughter?" she asked.
It was the last thing she got to say for ten minutes. The proud parent went on and on about the kid and her dancing. With apparently justifiable pride. His daughter had even been selected by George Balanchine to perform in “The Nutcracker” at Lincoln Center one year. That seemed to thrill the contractor even more than it must have thrilled the girl.
A few months later, the broker heard that a world- renowned Russian ballet troop was coming to town. She bought two tickets. At $17.50 each, which back then, with the stock market busily tunneling its way to hell, was a lot of money. She sent the tickets to the contractor and his daughter along with a warm personal note.
"Whereupon," says the broker, "the guy turned into what I call the Rasputin Account: Nothing I did could kill it." Nothing. No matter how badly her recommendations performed, the contractor kept coming back for more.
As I said, any number of other financial consultants tell the same type of story. Which is why brokerages teach
Did you know that you can start a legitimate business with little or no money? Do you want to be your own boss and become financially independent? Many people are beginning to start and operate their own business as large companies are downsizing and we face job uncertainties. During an informal survey, some of the reasons given as to why people start a business are to increase their income, get more control over their time, tax advantages, job security,
"Is that your daughter?" she asked.
It was the last thing she got to say for ten minutes. The proud parent went on and on about the kid and her dancing. With apparently justifiable pride. His daughter had even been selected by George Balanchine to perform in “The Nutcracker” at Lincoln Center one year. That seemed to thrill the contractor even more than it must have thrilled the girl.
A few months later, the broker heard that a world- renowned Russian ballet troop was coming to town. She bought two tickets. At $17.50 each, which back then, with the stock market busily tunneling its way to hell, was a lot of money. She sent the tickets to the contractor and his daughter along with a warm personal note.
"Whereupon," says the broker, "the guy turned into what I call the Rasputin Account: Nothing I did could kill it." Nothing. No matter how badly her recommendations performed, the contractor kept coming back for more.
As I said, any number of other financial consultants tell the same type of story. Which is why brokerages teac
I got a call from a friend of mine who had just joined a small company as Marketing Director. After auditing the firm’s marketing practices, he determined that the old company name had to go. The old name too closely resembled another firm’s moniker and it was causing confusion in the marketplace. With new ownership at the firm, a change seemed to make sense.He called me looking for some ideas for a new name and I gladly helped; in fact, we came up
"Is that your daughter?" she asked.
It was the last thing she got to say for ten minutes. The proud parent went on and on about the kid and her dancing. With apparently justifiable pride. His daughter had even been selected by George Balanchine to perform in “The Nutcracker” at Lincoln Center one year. That seemed to thrill the contractor even more than it must have thrilled the girl.
A few months later, the broker heard that a world- renowned Russian ballet troop was coming to town. She bought two tickets. At $17.50 each, which back then, with the stock market busily tunneling its way to hell, was a lot of money. She sent the tickets to the contractor and his daughter along with a warm personal note.
"Whereupon," says the broker, "the guy turned into what I call the Rasputin Account: Nothing I did could kill it." Nothing. No matter how badly her recommendations performed, the contractor kept coming back for more.
As I said, any number of other financial consultants tell the same type of story. Which is why brokerages teac
The field of technology is always characterized by change. In the era of technology and computers, even basic architecture are rendered obsolete in a matter of months. Over a last few decades, we have gone through several evolutions of computing models from large mainframe computers to the personal computers and the client server based models and now to Internet computing.What a difference a few years can make? In March 2000, the US capital markets
A few months later, the broker heard that a world- renowned Russian ballet troop was coming to town. She bought two tickets. At $17.50 each, which back then, with the stock market busily tunneling its way to hell, was a lot of money. She sent the tickets to the contractor and his daughter along with a warm personal note.
"Whereupon," says the broker, "the guy turned into what I call the Rasputin Account: Nothing I did could kill it." Nothing. No matter how badly her recommendations performed, the contractor kept coming back for more.
As I said, any number of other financial consultants tell the same type of story. Which is why brokerages teac
IntroductionKnowledge may be considered as an aggregate of knowledge systems. This aggregation includes indigenous or community lay (local or traditional) knowledge systems as well as scientific (formal ways of knowing) knowledge systems. The sum total represents the knowledge assets of a country, which are deemed essential to drive economic growth, competitive advantages, human capital, and quality of life (Malhotra, 2003). Community know
"Whereupon," says the broker, "the guy turned into what I call the Rasputin Account: Nothing I did could kill it." Nothing. No matter how badly her recommendations performed, the contractor kept coming back for more.
As I said, any number of other financial consultants tell the same type of story. Which is why brokerages teach their people, "This business is not about making clients money; it's about building relationships." That's just not what they tell their clients, most of whom seem to believe they're more interested in making money than new friends.
Truth: Once people believe you care about them, they’ll look for reasons to do business with you. When they look, they usually find.
A Simple Trick, a Possible Bore and Some Basic Motivation
There is of course a trick to getting a person to believe you care about him or her. The trick to getting a person to believe you care, is to care.
Someone once said that quoting yourself is the hallmark of the true bore. That may well be true, but at the risk of confirming what you might already suspect, here it comes anyway. As Barry Maher (me) frequently says, “Concentrate on the What’s in it for them and the What’s in it for you will usually take care of itself.”
You can concentrate on the What’s in it for you and still be successful. There are business people out there who view business as war and the customer as an enemy that has to be overcome. They con the customer about who they are and how much they care, even if they tell the complete truth about their products and services.
Whether or not they have a problem with how that makes them feel about their job and their lives is their business. This isn’t about ethics. But the longer the rela
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