SteveBillinghamConsulting

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Quote of the week

The world makes way for the man who knows where he is going.

Ralph Waldo Emerson


Quote of the week

You cannot push anyone up the ladder, unless they are prepared to climb.

Andrew Carnegie


Quote of the week

You only live once, but if you do it right, once is enough.

Mae West


Quote of the week

Weakness of attitude becomes weakness of character.

Albert Einstein


Quote of the week

Your worth consists in what you are and not in what you have.

Thomas Edison


Quote of the week

Success is neither magical nor mysterious. Success is the natural consequence of consistently applying the basic fundamentals.

Jim Rohn


Customer or Client? And why it matters!

Do you view the people who engage your services as customers or clients? The two terms are often used interchangeably, and to many people, they are indeed the same. In reality, however, they are very different and I believe it is important that advice firms recognize and understand those differences.

The one characteristic that both clients and customers share is that they are real people. People with a specific problem (or problems) that they are looking for your help in resolving. But that’s where the similarity ends.

The nature of the ‘customer’ relationship tends to be ‘transaction’ rather than ‘relationship’ based. For example, I am a customer of both Tesco and Waitrose, but a client of neither. My weekly shop is transactional.

The ‘client’ relationship on the other hand is characterized by;

  • An ongoing relationship
  • Some level of ongoing service
  • Regular communication and/or contact
  • Keeping in touch
  • Taking a genuine interest in them as an individual

In the financial services sector we work hard to build long term relationships and look holistically at all the individuals financial planning needs and establishing what is really important to them rather than just dealing with a single issue.

But even then there are only two levers you can pull to establish a real relationship. They are

  1. What you say
  2. What you do

Clearly these must be aligned and have the client’s interests at the centre. And, when it comes down to it, it doesn’t matter whether you see the individual as a client of yours… it’s whether that individual sees themselves as your client in their mind.


Quote of the week

It doesn’t matter how slowly you go as long as you do not stop.

Confucius


Where are all our leaders?

England’s dismal display at the Euros against Iceleand and the distinct lack of leadership being shown by all our politicians (with the possible exception of Nicola Sturgeon) post the EU referendum got me reflecting on the importance of effective leadership. What we need now is a leader of Churchillian character that can put the good of the UK ahead of self.

Once again, we can turn to the great leaders in the business world for an idea of what might be required right now.

When Sheelagh Whittaker became CEO of EDS Canada, she prepared a series of provocative thoughts on leadership for her new boss. Useful thoughts on which anyone in a position of leadership (sporting, business, charity or public sector) should maybe reflect.

  • A leader with vision and passion can transform a division, a corporation or a nation.
  • No one person is so brilliant that his or her ideas cannot be improved by trading thoughts with another smart person.
  • Decisiveness is not the same as being certain. I am often decisive; I am seldom certain.
  • It is important to remember that people’s behaviour towards you is not necessarily about you.
  • Those who violate your trust are the losers. An appropriate response is not to cease trust, but to place your trust elsewhere.
  • Unless you are sometimes prepared to change everything, you may end up with nothing.
  • You can get a lot more done with a few good people than you can get done with those same people hindered by some additional, unmotivated, misdirected or plain lazy colleagues.

What are your tips for effective leadership?


Quote of the week

Life is like riding a bicycle. To keep your balance, you must keep moving.

Albert Einstein