Presentation on theme: "The Trusted Advisor by David Maister and Charles Green & Robert Galford “An invaluable road map to all those who seek to develop truly special relationships."— Presentation transcript:
1 The Trusted Advisor by David Maister and Charles Green & Robert Galford “An invaluable road map to all those who seek to develop truly special relationships with their clients Carl Stern, CEO: Boston Consulting Group
2 ThemeTo the DCA Client Services team -the theme of this book is that professional success is not just technical mastery (which is essential), but also the ability to work with clients in such away as to earn their trust and gain their confidence. I look forward to our “onward and upward” journey! Jim
3 Overview Part I: Perspectives on Trust The authors define trust, the concept of “Trusted Advisor”, and provides the “rules of the road” & practical suggestions/illustrationsPart 2: The Structure of Trust BuildingA “how to” on trust building, engagement, framing, envisioning, and commitmentPart 3: Putting Trust to WorkApplications of the concepts and techniquesP.S. The authors are quite fond of lists!
5 The Evolution of a Client-Advisor Relationship What is a Trusted Advisor?The Evolution of a Client-Advisor RelationshipTrusted AdvisorValuable ResourceBreath of Business IssuesSME plusAffiliated fieldSubject Matter Expert (SME)Depth of Personal Relationship
6 What is a Trusted Advisor? The Evolution of a Client-Advisor RelationshipMake no mistake…all four types add value to the client. The Trusted Advisor model adds the all-important human dimension of “trust”, “openness”, “understanding”, and “safe haven”.
7 Describing a Trusted Advisor Focus on the client/individual rather than themselvesFocus on problem definition & resolutionMotivated by internalized drive to do “the next right thing”What’s effective for “this” client - not methodologies, techniques etcSeeks out client-contact experiences and takes personal risksSelling/servicing is in the name of helping clients with their issuesWhile technical mastery is “cost of entry”, the human element drives the engagementclients work with people they like!
8 If I am the client, “trusting” you requires: You will do what you say you will doYour actions will match your wordsYou will exhibit true caring and insightYou provide ongoing evidence that myinterests are as important as yours
9 How to Give Advice Act as if you were advising your own parents respectfully and with care as to “how” you say itTurn assertions into questionsInstead of “this is the best solution”, try my other client’s do “X” for the following reasons. Do you think the reasons apply here?Use the Socratic methodYou are the expert guide in the process of reasoning the problemclient’s answers helps them feel that the solution was their idea!Lastly, interact in a style most comfortable for the client
10 Rules of Romance: Relationship Building A primary goal of relationship building is to create oppor-tunities to demonstrate you have something to contribute!Key Principles:Go First (give a favor to earn a favor)Be prepared/do your homework.Show a sincere interest (small gestures)Ask good questionsSay what you meanShow appreciation (not fawning)Use compliments (not flattery)
11 The Importance of Mindsets “…The only way to influence someone is to find out what they want, and show them how to get it”Dale Carnegie
12 From: To: The Mindset Overview Rational, driven, fear of failure high achieving, process-oriented, inwardly-focused “content experts”To:A real focus on the client (duh!)Self confidence/patience to NOT always rush to a solutionA profound curiosity and empathetic listening skillsAn ability to “inhabit” the relationship – not “control” itA proclivity to “connect the dots” – a TA hallmark!
14 The Trust Equation T = C + R + I S Component Realm Example Bottom Line CredibilityWordsI can trust what she says about…Content expertise + “presence”ReliabilityActionsI can trust him/her to…Dependable + consistentIntimacyEmotionsI feel comfortable discussing this…Emotional closenessSelf-orientationMotivesI can trust that he cares about…Client before self (we, not me)
15 More on the Trust Equation Credibility – what you bring to the table & how you look, act, talk, think. Firms “sell” competence, buyers “buy” on the basis of emotionReliability – best exemplified by FedEx (unerring comfort level that they can be depended on to deliver the goods…on time)Intimacy – the real “differentiator”. Involves the risk of getting closer/more personal. Trusted Advisors live hearSelf-Orientation – impossible to achieve TA status when selfish, talking over clients, desirous to be “right”, look intelligent etc.
16 The Development of Trust EngageListenEngageFrameEnvisionCommit
17 The Development of Trust StepActionAdvisor “Language”What Client FeelsEngageAttention is focusedInterest + concernIt may be worth talking to this person about…ListenAcknowledge and confirmunderstanding + empathyI am being heard and understood…FrameIssues stated clearly/rationallyPerspective + candorYes, that is exactly the problem here…EnvisionAlternate reality sketched outPossibilityNow that would be a great outcome, wouldn’t it…?CommitStepsagreed-toJoint ExplorationI’m with you. Let’s do it…
18 More on the Development of Trust Do’s and Don’tsEngagementShow the client you know their world/brand/marketplacePick the right topic at the right time (timing & key concerns rule!)Give them a reason to say “yes” (concern, follow-up, smarts)Leverage equity you have based on work you have done (upsell!)Great Listeners:Probe for clarification……Listen for the story…….Empathize…...Spot hidden assumptions……..Ask “how do you feel about that”DON’T interrupt, talk over, ask stupid questions, etc.
19 More on the Development of Trust Do’s and Don’tsFraming the IssueRational: Crystallize/distill the client’s issues into a problem definitionEmotional: take the risk to surface hidden emotions/contexts.I’m probably thinking of this all wrong, but…I really don’t know how to say this, so I hope you help me, but… etc.Envisioning an Alternative Reality:Explore how things can be, what it will look like, why it is of benefit etc.Energizes (let’s go for it) and comforts ( we can do it) client in a big way.
20 More on the Development of Trust Do’s and Don’tsCommitment:Ensure client understands need to solve problem and is committed to do what it takes (resources, time, money) to achieve the goals.Create a proposal that spells out what needs to be done…when ….at what costs…and communication of key milestones/deadlines.Managing Client Expectations:It is IMPERATIVE the client knows what they can and cannot reasonably expect from us AND what they and we must do.Better said: ensure they know precisely what they are agreeing to!
22 What’s So Hard About all of This? The Biggest Mistake?Jumping ahead in the trust process to “offering solutions” before the initial steps are completed.The Biggest Fears/Risks?In a word…insecurity (me and not we-focused)Not having the answerHaving the wrong answerNot knowing all the factsBeing confused/appearing stupidRevealing ignoranceMisdiagnosing
23 Differing Client Types: Guiding Principles 1. Analyze what is different about the client and what you and your company uniquely offers2. Know client’s personal motivation, personality, and how the organization affects their needs/views/actionsEngage3. Seek client’s need to achieve or stand out or just get it done4. Figure out how you might truly like this client as a person5. Figure out which elements of the trust equation are key!
24 Differing Client Types Some difficult client types and how to respond:Type #1: The “Just the facts, ma’am” clientSpeak in the client’s language (brief, concise features and benefits)Type #2: The “I’ll get back to you” clientMake sure you have one-page summary and agree to a call-back dateType #3: “You’re the expert, dummy” clientGive three reasonable options to move forward (and price points)Type #4: The “You don’t understand” clientAlign/ask for his help and promise the relevant solution once you doType #5: The “Let’s go through this again” clientEither dense or needs more details – either way hold this clients hand!
25 Differing Client Types How highly does your client REALLY value you……for your track record with him & integrity in doing what what you said you’d do?…for your objective, unbiased, clear opinions & insights?…for the fact that he can talk to you about just about anything?…as a trusted advisor and friend?
28 The Lt. Columbo Approach Remember the one-eyed detective with the rumpled raincoat? He embodied many characteristics useful for Trusted AdvisorsIt’s all about:Style, instinct, character and not “method”Putting the person “at ease”Dismissing the seriousness of his capabilitiesSubordinating his ego to the service of the clientMaking the client’s inhibitions and concerns vanishAnd, of course…he always wins.
29 The Role of Trust in Getting Hired The Premise: It’s not about “selling”, its about “getting hired”New Clients: The Seller who succeeds has to convince the client what it would feel like to be in a great relationship togetherExisting Clients: After a successful engagement, the service team has a real advantage in “upselling” – the client is acutely aware of the great relationship and you as Trusted Advisor.Conclusion: Great service is the best way to get hired!
30 Building Trust on the Current Assignment The Engagement Process means being “Engaged” “….Serving a client does not just mean going away, doing the work, and coming back with a wonderful product/ service. We must keep clients up to date, continue to get their feedback, and built their input into the deliverable”
31 Building Trust on the Current Assignment Building Trust Principles:Know how they plan to use what they contracted forKeep clients “in the loop” regarding progress madeRegularly communicate, share information, & be responsiveMake small commitments and keep themMeet deadlines (with passion and enthusiasm)Be a Trusted Advisor when its time to deliver results
32 Re-earning Trust Away from the Current Assignment Relationships can’t be taken for granted! To continue to earn their business, here is a “What Clients Want” list:Do more things “on spec” (work in new areas)Help lead their thinking and strategy developmentShare new ideas, learnings, and ways to “connect the dots”Help them see how they compare with others in the industryTell them why competitors are doing what they are doingNurture the “relationship” not manage the “account”
33 The Case of Cross-Selling Three Cross-Selling Types…EXPANDDIVERSIFYBusiness IssuesAfter a successful engagement, the service team has a real advantage in “upselling” – the client is acutely aware of the great relationship and you as Trusted Advisor.BROADENClient Relationship
34 The Quick-Impact List to Gain Trust Here they are – the TOP 12!Listen! (and paraphrase)Empathize (understand, don’t have to agree)See what they are feeling (acknowledge & connect)Build a shared agenda (we, not me)Take a point of view (stimulates reactions/give and take)Take a personal risk (increases intimacy)Be curious about their business (shows you care!)Ask good questions (always)Give away ideasReturn calls immediately (trust-creating!)Emulate Lt. Columbo (enough said!)Relax your mind (no need to prove yourself every 10 seconds!)