Sell Like a Plumber!!

As I was driving to town I was thinking about marketing and sales.  I was thinking about how wrong so many professionals in the financial services industry approach their job.  I started thinking of some of my mentors and how they have become successful.  One example of someone doing it right is Randy Johnson, one of my close friends from Nebraska and an extremely successful life insurance professional.  Why is he so successful?  Does he have some secret pitch, some magic close that make people want to buy from him?  Maybe......

Just as I was thinking about what makes him successful I passed a plumber's truck.  Something in my mind clicked.......that was it!  He sells like a plumber!

Let me explain.  Have you ever had a plumber knock on your door and brag about how nice his pipe wrench is or how special his plumber's tape is?  Does he brag that he is smarter than other plumbers to get the opportunity to work for people?  Does he TELL people what he wants to do for them? Probably not.  He ASKS good questions.  He finds out what they really need.

Plumbers are focused on solving people's problems, making people's lives easier, more comfortable.  Plumbers are willing to do the dirty work and get into uncomfortable positions at times to help the customer.  Why don't we all do that?  Why don't we emulate the plumber?  If professionals in the financial services industry would begin to sell like plumbers the public perception would improve and they would be more successful.

I'm going to work on it!  I hope you do too.

In my new book, "The Farm Whisperer" I will unveil several techniques that advisers can use to serve generational farmers to preserve their relationships and perpetuate their farms.  If you want to be one of the first to know about when it will go live, shoot me an e-mail.  dave@advisinggenerations.com

Until next time,

Dave Specht
www.inspired-questions.com

The Parable of the Pumpkin Patch

This summer our family is raising pumpkins.  We got going due to the hard work and the kindness of the Harris boys.  They gave us some pumpkin "starts" and we were off to the races.  Actually, I'd better back up.

The first thing that we did was prepare the ground.  I used my little John Deere 790 and we rototilled the ground and prepared it for planting.  (Real farmers laugh at my little John Deere, but it's pretty handy)

Next we made sure that we had our irrigation system working.  Check.

Then we planted our pumpkin starts and began caring for them.  Taneil, the kids and I water them by hand two or three times per day.  After some discussion, we decided to continue watering the plants by hand for as long as we could.  The discussion went like this, "would you rather weed or water?"  It was quickly decided that minimizing weeding was a top priority.

It's been a few weeks and I've enjoyed hearing Jhett and Reichert talk to their little plants as they water them.  "You can do it little guy."  "Here's a little drink for you."

It's a beautiful thing.

Watching the plants perk up after you give them water has been interesting.  So many little observations that I can learn from.  Here are just a few so far.

1) Sometimes it's better to do what it takes to minimize weeds-
Life is hard enough as it is.  Our choices determine if we will make it harder than it needs to be. Removing weeds to me represents saying we are sorry or repenting of something that we have done wrong.  We've discovered that it is better to just nourish the plant and to not encourage weeds.  I'm trying to do this in my personal life as well.

2) All good things come from consistent and thoughtful work-
As good as our pumpkins are doing, if we ignore them or don't notice when they have problems, we will not be pleased with the ultimate outcome.  Whether it is our physical, mental, relational or spiritual health, if we don't pay attention or give enough time to those areas we won't be pleased with who we become.  I'm working on this as well.

3) We're not raising pumpkins, we're raising kids-
This experience has given me at least 10 minutes each morning and evening to work with my kids, talk to them, laugh with them and just enjoy being outside with them.  As insignificant as 10 minutes seems, it's not!  It's important to me and someday they will look back and they will probably agree that it was good for them too.

Go grow something!

P.S.- I'm writing a book called, "The Farm Whisperer."  In this book I share some common sense approaches that farmers should take to preserve their family relationships and perpetuate their farm operations.  It's not out yet, but if you'd like to be notified when it is available just drop me an e-mail at dave@advisinggenerations.com and put Farm Whisperer in the subject line.

Family Business Sometimes Means Family First

When my 4 year old son broke his leg in a trampoline accident on Sunday evening, my plans for the work week suddenly changed.  As a family business consultant I am constantly working with families on their need to balance the desire to run a successful and profitable business and the need to take care of family needs.  It was now my turn to see what I would do in my own situation. 

My wife is due to give birth to our 5th child in less than 3 weeks so Jhett's injury has really thrown us a curveball.  Because I have my own business I am flexible to change my schedule and work when I would like, so long as I keep my commitments and provide enough revenue for the family.  It is times like these that I am glad that I can intentionally choose my family over my work.  Do I regret not being more professionally productive?  Maybe a little.  Do I feel good about the work I am able to do for my son and my wife?  Absolutely.

Isn't this what family business is all about?  If I didn't have a family, I might not be as passionate about making my business a success.  These times bring life back into perspective for me.  

I love family and I love business!  Life is good!

Family Business on Nebraska Homepage

My Family Business Class was seen here on the University of Nebraska homepage. Even when I try to look smart I fail. :)

Don't my students look interested in what I'm saying?

Nebraska Making a Mark in Nevada's Business Law Guide

A Family Business Article that I co-authored with Brent Keele from McDonald Carano Law Firm in Reno, NV showed up on page 4 of Nevada's Business Law Guide.

Check it out.

http://www.nnbw.com/resources/Business_Law_11.pdf

Any feedback?

Crossing Borders to Impact Family Business

This article on Leadership Transition in Family Business was picked up by El Heraldo, a well-known newspaper in Chihuahua, Mexico.

Nebraska is quickly becoming a source for many regarding the intricacies of transitioning family-owned businesses.

Here is the link. http://www.oem.com.mx/elheraldodechihuahua/notas/n2239035.htm

Sorry if you don't read Spanish.

Que piensas del articulo?

Leadership Transitions and the Parable of the Pitcher

Well, here in the United States baseball is beginning to get interesting. Teams are clinching playoff spots and "normal" people are finally beginning to watch baseball. As I watched a game a while back I noticed something that made me reflect on how the game of baseball approaches pitching changes and how different that is from how family businesses approach leadership changes. Let me explain.

In baseball the pitcher on any Major League team is well paid and usually has an ego the size of his paycheck. The confidence of one of these talented athletes would not allow them to make a good decision on behalf of the team if they had to choose for themselves when to go in and when to come out of the game. If you've ever watched baseball you will attest to the fact that every pitcher that is "removed" from the game and replaced by a reliever isn't exactly thrilled to leave the game, even if they pitched magically. Most leave the mound with their head down, reluctantly handing the ball to the pitching coach and then head to the dugout.

In family business it is assumed that the top leader knows when it is time to "bring in the reliever." It is assumed that they know themselves well enough to know when someone else would be better equipped to help the team get the victory. As we all know, this isn't always the case.

Unlike pitchers, family business leaders sometimes lack any accountability and oftentimes don't receive feedback in a completely honest way. The next generation leader that is waiting in the wings certainly doesn't "approach the mound and send the old man to the bench." Leadership succession in family business is a challenge and timing of the transition is almost always the most difficult question to answer.

In baseball the timing of a pitching transition is crucial. Here are some of the reasons pitching changes take place:

1) Pitcher is losing velocity

2) Pitcher is having trouble locating the strike zone

3) Pitcher isn't well suited to face the next batter

4) The relief pitcher is more talented or able in a certain situation

These same reasons might apply in family business. When a business owner starts to slow, while the business needs someone that is willing to step on the accelerator. When a business owner makes several decisions(personal or professional) that put the business or family in danger. When the business owner isn't suited to tackle the next generation of business challenges. Lastly, in a family business there may be a next generation leader that needs to be elevated so that they can lead the business with new energy and vision. They may be better suited to take the business where it needs to go.

So the question is, where can a family business get a "pitching coach?" If that question was easy to answer more families would have done it already. One of the answers is to have a highly talented and engaged Advisory Board. This group will see the big picture for the business and the family and will be in a good position to give honest and sometimes unpopular advice.

When it comes to leadership transitions in family business, reflect on the Parable of the Pitcher and then appreciate why the transition is difficult. It isn't the "pitcher's" fault that they don't want to come out. Standing on the mound and just continuing to throw is sometimes all they know how to do. Be patient and make sure to prepare your bullpen for when they are called into service.