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What Does The Competition Do?

I was consulting with two financial planners this week. We were discussing what made them different, when they told me this story about working with one of their clients.

Jonathan was offered $9 million for his house, which had amazing, never to be replaced views out over the river. He was in a quandary about what to do. Most advisers, (thinking about maximising the return of a portfolio) would have told him to make hay, sell immediately, take the equity and reinvest it.

Not Mark. He sat out on the balcony with Jonathan and chatted to him about his personal and life goals. They talked about why Jonathan had chosen to live there in the first place. Mark encouraged him to imagine what life would be like with the money in the bank, but no view. Jonathan decided to walk away from the $9 million, that could never replace the feeling he got every day by just living comfortably where he was.

No surprise then that Mark and his partner don’t need to advertise, and that 95% of their business is generated by word of mouth.

Work out how you are least like the competition, then tell that story.

Image by marksjonathan.

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