What’s Better Than ‘Best Practice’?
Many years ago (late Jurassic period) I still believed this formula worked for Financial Advisers:
Technical Expertise + Sales Skills = Commercial Success.
I still gaped at the ‘Best Practice’ stories of Advisers who seemed extremely successful.
Until I read SPIN Selling by Neil Rackham.
Rackham’s research team observed 35,000 sales conversations in 20 countries.
They observed high-earning sales consultants and leaders engaged in high-value conversations. They analysed WHY the best were… The Best.
Here’s what they found.
At Soul Millionaire we love to set aside (1-2-1, Pro Bono) time to really LISTEN to Leaders. Helping them to think about their complex role.
They tell us that we help them think More Clearly, More Courageously, More Creatively.
You can book your private Listening Time – your 1-hour Discovery Conversation – right here.
No pressure. Just time to catch your breath. And think about What Matters Most to you.
Many ‘Top Performers’ were Unconsciously Competent.
(Just like most world-class athletes… they couldn’t see themselves in action.)
So, they were completely wrong when they talked about WHY they were so successful!
Their BEST PRACTICE presentations were, too frequently, complete nonsense!
The truth was… those Consultants/Advisers/Whatever did NOT win by technical brilliance, personality or emotional intelligence.
They won TRUST because of two qualities:
- The quality of the questions they asked
- The quality of their listening.
From those 7 years of research was born the SPIN model:
S = Situation… Where are they now?
P = Problem… What’s not working?
I = Implication… What’s it costing them?
N = Need-Payoff… What would change look like?
Today those questions have become part of a behaviour we call COACHING!
This isn’t about using a script. It’s about a different way of thinking.
It builds TRUST.
It unlocks real, deep NEEDS.
It turns your team into THINKING PARTNERS… not PERSUADERS.
And here’s the twist…
Your most effective Financial Planners might not realise WHY they’re so good.
(And that includes YOU!)
They need someone to observe… to reflect… to provide feedback… to provide frameworks.
Because that’s your job as a LEADER.
To build a culture of curiosity. Not selling.
To generate a culture of Deep Client Engagement. Not performance pressure.
Today – decades later – I recognise that Coaching is far more powerful than selling.
The new formula is:
Financial Planning + Coaching Skills = Client and Business Transformation.
Returning to the question:
“WHAT’S BETTER THAN ‘BEST PRACTICE’?”
It’s understanding – from objective observation and feedback – WHY you’re accomplishing the success that you are.
And having the humility to change the story you’re telling yourself. And others.
That – right there – is part of Great Leadership!
