What’s Your Why

It’s hard to imagine an industry that has a greater positive influence in society than ours. You as an Advisor truly make a difference – you are there to help your clients when they are going through their most difficult moments. In spite of this, there remains a perception that an Advisor’s focus can be to make a commission. However, if you’ve managed a claim on behalf of a client, you know how unfair that idea can be. It is also not reflective of the genuine value Advisors provide to Canadians every single day.

At its core, “what” you do is really quite simple: you provide access to insurance planning, as well as potential investment and financial planning, to your prospects and clients. That’s important for sure, but is it emotionally compelling? Most people would say that it’s not. However, the reasons “why” people go through the financial planning process are often rooted in love, compassion and consideration and that is the truly compelling part. Yet, sometimes Advisors focus on the “what”, rather than the “why”. If asked about the role, it can be difficult to articulate the value you bring in an emotionally compelling way – even after years of being successful in the business.

One method salespeople have implemented to try to overcome this difficulty is to formulate the dreaded elevator pitch. The idea is that if you only have a few seconds to grab someone’s interest, you have a pitch, a spiel, that can be delivered quickly and repeatedly. But is this genuine or does it come of as contrived and forced? You can do better than a tired sales pitch!

Instead, consider your “Why Statement.” This can be used as a brief introduction to someone, but ultimately is designed for something more significant. The advantage is that you develop something that truly resonates with who you are, that speaks to the passion and commitment you have towards your work – you share the emotional undercurrent of your practice. For sure there is a part of the process that touches on “what” you do, that is still important, but the driving sentiment is focused on “WHY” you do “what” you do. The process towards building this involves defining yourself in ways that might be very different from what you are used to. But this endeavor, while challenging and time consuming, is very much worth the effort.

This approach helps many Advisors speak with confidence and certainty about the work that they do, as well as the value they bring to their clients and prospects. Once you’ve come up with your “Why Statement”, you of course will need to practice the delivery so that it comes across concisely and with the sincerity that it deserves.

From here, your statement can start to form an integral part of your prospecting and referral process. It can be recorded and streamed on your website, offered as a link to new prospects or delivered as the first portion of new client meetings. We all know that clients make decisions based on trust and emotional connection, so doesn’t it make sense for your process to incorporate strategies that are specifically designed to connect on those levels?

Articulating your “why” is not only a tremendous way to refocus your purpose, but a constructive way to show your value to clients. It will also allow you to set yourself apart from the masses – and you can use it as a springboard to re-engage with existing clients. Without a doubt, this can be a very challenging industry at times. Doesn’t it make sense to take advantage of new ways to define yourself as the trustworthy and passionate Advisor that you are?

If you have any questions or are interested in exploring this idea further, be sure to contact your local PPI Collaboration Centre.