Investing is serious business. Losing money is not a laughing matter. If a client made an unwise invest on their own and lost a bundle, saying “Easy come, easy go” is not going to lighten the mood. Yet in the bigger picture, having a sense of humor makes you likeable. People tend to do business with people they like.
1. You are not taking yourself too seriously. When the stock market goes down, clients get anxious. No one wants to lose money. If your attitude conveys the message, “This is the end of the world” clients will lose confidence in you and the stock market. Years ago, when I was in production and business was slow, clients would ask how I was doing. They wanted to know I was in good spirits and still had a positive attitude. I would explain “In times like these, I go from being wildly overpaid to merely overpaid.” They would laugh and know I was OK. Humor shows your mood is upbeat.
2. You can tell a good story. A raconteur is a person who is a good storyteller. At a party, they attract a crowd because people enjoy listening to them. Telling a story involves the use of humor, pauses and inflection. You are not an actor, but you are holding their attention. Jokes are another form of short story that gets people laughing. You are not the person who starts every conversation with a joke, but when the subject turns to humor, you have a few you can contribute. Good stories hold people’s attention and put you center stage.
3. You see the funny side of things. I was presenting training in one of the Southern states and arrived at the airport needing a taxi. The driver I got was a talkative fellow whose car was a surplus police cruiser (the spotlight on the driver’s side was a good clue) with a cracked windscreen. He explained had two jobs, one was driving a cab and the other was as a bounty hunter. Now I have fresh material for my introductory remarks at the training session the next morning. Highlighting the humor in a situation gets other people to imagine they were beside you at the time.
4. You can use humor to get a point across. Investing involves communicating complex concepts as simply as possible. There are times when the stock market is volatile, rising sharply one day, then dropping by the same amount the next. The market hasn’t “gone” anywhere, but it had a wild ride. You might liken the situation to two Marvel superheroes from a movie locked in combat. They are evenly match, neither one winning for very long. You are equating an uncomfortable new situation with an old, familiar situation.
5. You become a desirable party guest. You have wealthy clients. Some will invite you to their home as a party or dinner guest. Your host and their friends are sizing you up. If you are entertaining, talk with lots of people and carry your part of the conversation, you might make the short list of future party guests for 2023. This is important because people are gradually starting to entertain again. Humor becomes your entry pass into additional HNW social gatherings.
6. People will open up to you. If you can use humor to show you are a regular person, people will take a liking to you. They might be intimidated when talking with their doctor or accountant because they think the other person is making judgments. If you come across as “a regular guy,” people tend to treat you as an equal. Humor helps people identify with you.
7. You can lighten the mood. Humor can put situations into perspective. Someone might be complaining about a train delay while they are stuck on the platform waiting for the commuter train. You might remark “At least it’s not raining.” They smile and agree. I was standing on line at the supermarket. The person ahead of me only had a couple of items. The woman ahead of her invited her to get in front of her. She declined, saying “You were here first.” I started a conversation about how polite people were in that store, immediately likening the situation to people who skip the long line at a highway exit and try to cut in at the front. We both smiled. Humor becomes a tool to start conversations with strangers.
8. You get selected to be the front man. Restaurants have people who work the “front of house” and the “back of house.” Hosts and chefs are respective examples. If you have a good smile and an engaging manner, you get selected to make the initial connection and build rapport. This is a first step in turning a prospect into a client.
9. Humor is a great way to begin a formal presentation. Most presenters open with an icebreaker to lighten the mood and get the audience on their side. Years ago, I heard about a great technique: You open with a funny story and take careful note of which side of the audience (left or right) laughs the most. Going forward, you focus on the side laughing the least, because they have not engaged with you yet. Humor gets the audience on your side.
You are not a joker, but you want to be engaging and entertaining. It helps people relate to you.
Bryce Sanders is president of Perceptive Business Solutions Inc. He provides HNW client acquisition training for the financial services industry. His book Captivating the Wealthy Investor is available on Amazon.