Integrating passion, respect and confidence into client interactions.

Since July 2002, we have taken you through a series of "introspection exercises" to help you discover your value. By now, you have learned the seven steps on the Value Ladder and how to act on them, not only for competitive differentiation but also for help in developing better client relationships and creating bigger business. Let's take you to a level higher now and illustrate how you can actually deliver that value.

The five concepts vital to "delivering your value" include three of the elements you previously learned through our discussions about the Value Ladder-confidence, passion and speed (lack of hesitation). Now we'll add the elements of respect and value, and you'll have the ingredients necessary to successfully interact with (and relate to) your prospects and clients.

First, you already understand the importance of "knowing your value before you can sell-or deliver-it." You need to be highly consultative in asking important questions to determine what is important to your client. They may have numerous wealth management issues, and through your expert questioning you can hone in on those areas that concern them the most.

They may be thinking, "Do you really understand my situation? Do you know the kinds of issues keeping me awake at night?" Be prepared, and remember they also are asking questions (or thinking) about your value and how it aligns with what they value. Ask yourself this: "Am I asking the right questions? Do I truly understand what they value? Have I, in fact, properly aligned my value to what I have learned from them?" Your clients need to know if you truly understand what they value.

We began our series with the introspective process of discovering your value. Now with a better understanding of your own unique value, let us help you get "black-belt" at knowing how to properly sell-or deliver-your value. Clients want to do business with an advisor who shows genuine respect and concern for them, not only as clients but also as individuals. Plus, they want to do business with an advisor who can add value to the relationship on a long-term basis. So, through this next series of articles, you will learn how to demonstrate this value to them in order to earn their trust and confidence.

We will teach you exactly how to enhance your abilities and skills to become this type of advisor or wealth manager for your clients. By following the process of demonstrating the five key elements of confidence, passion, speed, respect and value to clients, you will have the insight and the tools to effectively deliver your value.

At the end of our series of articles on this topic, you will be able to:

Integrate the five concepts of confidence, passion, speed, respect and value to better interact with clients.

Use strategic skills before and af

ter prospect/client meetings (pre-call and post-call value strategies).

Apply the correct approach to emotionally connect with a client.

Immediately demonstrate a mindset of value in the initial meeting.

Identify what your clients value by using a "Value Questioning Strategy."

Articulate your value in alignment with the client's value.

Determine if clients are "simply asking questions" or if they are "challenging" your value. Learn skills to respond to any challenges.

Request value commitments from clients.

Develop long-term, mutually beneficial, consultative relationships with clients.

The various stages of "Delivering Your Value" are:

1. Developing a pre-call value strategy skill model.

2. Earning the right to the value connection.

3. Opening the call with a value mindset.

4. Identifying value.

5. Explaining your value.

6. Responding to value challenges.

7. Requesting a value commitment.

8. Employing a post-call value analysis.

Developing A Pre-Call Value Strategy Skill Model

To best prepare yourself in advance of an important meeting (or call) with a prospective client, you need to do six things. These six things will position you as an advisor who is focused, confident and on top of your game. To get started, you need to "determine what you know." In other words, you will assess what you already know about your prospect (or client). Ask yourself what you have discovered about this individual, both personally and professionally, through initial questioning or other research.

For example, some personal considerations are: where they live, various family information, educational background, where they were raised, hobbies, sports or other non-work activities, charitable or civic organizations they support, and so on. On the professional side, you should know: how long they've been in their current position/business/profession, previous employers, expertise, professional affiliations, etc.

Next, you should "assess what else you need to know." This step helps you focus on obtaining additional information needed for the meeting with your prospective client. This includes inquiring about details that you feel are important in establishing the relationship, thereby helping you better prepare for the meeting.

After you obtain the initial information, you need to determine additional ways to prepare. You might consider making a list of information sources that will help you research what you need. On this list you would include such sources as newspapers and trade magazines in which your prospect may be quoted and annual reports and company literature distributed by your prospect's firm; you could try searching the Internet. Also on your list should be requests for documents like wills, tax returns, insurance policies, financial statements and retirement plan information, as well as the names of other advisors with whom the prospect may be working.

"Anticipating value challenges" is step number four of your pre-call value strategy. Now that you have determined what you know (and what you need to know) about your prospect, and how to more effectively prepare yourself for the meeting, you need to anticipate value challenges you may encounter. Value challenges might present themselves either as broad-based or specific and will usually focus on how you differentiate yourself and your practice from the competition, as well as what you personally will deliver to your prospective client. Again, it is critical to be prepared and ready to answer all "challenges." Think of all the areas in which questions may arise, specifically in your services, investment solutions or products, and about yourself personally.

The next step on the skill model is to "revisit your value ladder." Do you remember that when you learned the seven questions and formulated your answers, you memorized and internalized your responses? Then you personalized (or customized) your answers to all seven questions for each prospect with whom you met? Take a minute to think about how you accomplished that, and how your prospects responded to those answers. By revisiting your value ladder from time to time before your meetings, you strengthen your skill set and reinforce the elements of confidence, passion and speed in your presentations.

The last step of the pre-call value strategy is to "develop your meeting objectives." This is helpful to your client, as well as to you, as it provides an agenda and helps keep the meeting on track. It also tells the client what you are trying to accomplish during the meeting. Make another list of meeting objectives. One of your objectives might include a statement such as, "I would like to enhance your comfort level with the value that I can provide."

Here are a few things you should remember while setting up your objectives:

Your objectives should be succinct and should engage the prospect.

Up to three objectives should be accomplished during the meeting.

Your objectives should set the "value stage" that you and your team can provide.

We challenge you to articulate the value you provide to all your prospects (and clients) with confidence, passion, speed, respect and value. You should be well prepared now with all the tangibles needed for your meeting.

Remember, successfully delivering your value is the result of correctly identifying what your clients truly value, and aligning your value (and your values) to theirs. That said, another critical ingredient is necessary to add to the mix before the actual meeting. The ingredient is the "emotional connection" with your prospect during the meeting. We will illustrate how this is done in the next column, "Earning the Right to the Value Connection."

Leo Pusateri is president of Pusateri Consulting and Training LLC in Buffalo, N.Y., and is author of Mirror Mirror on the Wall Am I the Most Valued of Them All?