Tag Archives: trusted advisor

TNF #115: Be generous

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Welcome Professionals…

…We want to add extraordinary value to our client organizations. That is what we all are striving for as top management consultants. Of course, a premium value has to come at a premium price point. As a matter of fact, the high price premium a client is willing to pay and the commitment that it shows will be one driving factor for a succcesful implementation.

So, we do not want to give away our service for free and yet there are situations when it pays off to be generous. If this act of generosity is well-placed it will have a major effect on building trust.

generous

My most recent example occurred today. I was getting together with a CEO to kick off a new project. The contract had been negotiated with his staff and they had advised him to sign it. It was in front of him, he was already holding his pen in his hands.

“You know, the contract is agreed by the responsible department head and procurement. It is well written and also fine with me. There is just one thing I don’t quite understand.” He paused. Then he pointed to one paragraph. “Why is there an extra-charge for this specific service?” I explained it to him. He said: “Alright, I see your point, but some competitors of yours do that for free.”

He took his pen to sign the contract. “Wait”, I said, “let’s cross out this paragraph. Let’s get this out of the way.” He was really surprised by this generous act. He would have signed the contract anyway. So why give in?

What then followed was an intense briefing on the project in which the CEO communicated in a very open-hearted way. He commented on his personal values and even shared some of his own weaknesses. This is not possible without some fundamental trust. I am sure that the generous concession I made was a deposit on the trust account.

We cannot expect an immediate effect like this. True generosity means giving something without expecting anything in return. Only then, the generous act is eligible to build trustful, long-term relationships.

It’s Christmas time so let’s be generous,

Malte

Thursday Night Flight is brought to you by Malte Müller Professionals. Sharing best practices for top management consultants on topics like communication, client handling, problem solving, appearance, and fitness. Check out www.mm-professionals.com for more material and free resources!

TNF #063: It’s all a matter of trust

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Welcome Professionals…

…trust is the essence of the trusted advisor that we all strive to be.

Building trust is typically a arduous long-term process. It requires high quality work, a good amount of generosity towards your client and at least one moment of truth. We need to put a real investment of work, time, money and attention into our client relationships in order to make them trustful. But is this all worth it? Aren’t we better off with a quick transaction where we receive the value right away? When is the time we get something in return?

The true value of trustful relationships usually shows under pressure. When the client has to make a high performance achievements under high time pressure. Then, there is definitely no time left for a benchmarking of different service providers, chasing the best offer, negogiating for the best price. Our client will turn to the trusted advisor. This is the time when we can benefit most from a trustful relationship. On the one hand there is less pushback on our premium fees. On the other hand it is a great time to learn and grow together with our client as we get jobs beyond our core expertise.

trust

Although the usual checks and balances might get by-passed, we must not let it slip. We need to make sure that we deliver high quality work that complies with our professional standards also under these high pressure conditions. Otherwise we may loose the trust again. In fact, keeping our high standards under these circumstances is a chance to deepen the trust even further.

Now, as we approach the end of the year, it is a perfect timing to spot these opportunities. Our clients face their yearly targets. They may struggle to get there. And they count on you!

I trust you will help them!

Malte

Thursday Night Flight is brought to you by Malte Müller Professionals. Sharing best practices for top management consultants on topics like communication, client handling, problem solving, appearance, and fitness. Check out www.mm-professionals.com for more material and free resources!