Now is the time of year when financial professionals start planning and budgeting for 2026. Many of you have told me you’re “finally ready to buckle down” and write the book you’ve been contemplating for so many years. That’s great.

Contrary to what you might think, people are still reading plenty of books even in this limited attention-span YouTube, social media, TikTok age – especially non-fiction and business.

Global book sales project to grow at a CAGR of 4.2% according to Grandview Research. And non-fiction book sales (which include business, finance and management) are projected to grow even faster, at a CAGR of 4.9% from 2025 to 2030, according to Grandview. Perhaps people are finding solace in the ability to turn pages and skip around at their own pace — and not have to download software, set a password and be bombarded with ads and chatbots.

That being said, if you decide to go forward, don’t go it alone. It’s easy to get discouraged, side-tracked or lost down a rabbit hole of research with no way to find your way out. Make sure you have an accountability partner to keep you on track, whether it’s a close friend, trusted colleague or professional editor.

You’re probably not going to get a six-figure advance or earn seven-figure royalties unless you get picked up by a major publishing house. Those fat advances tend to go to Hollywood celebrities, professional athletes and politicians with global reach. Most likely you’ll have to go the independent route. Just know that of the 3.5 million authors on Amazon, only about 1,000 will earn over $100,000 a year in royalties (.002%).

Book revenue beyond royalties

But there are still plenty of good reasons for accomplished financial professionals to write a book.
One of our CPA clients sells limited quantities of his three books ($100 cover price) but has earned over $100,000 in speaking fees and training sessions over the past two years. An estate planning client landed a $50 million case and a $100 million case thanks to his writing efforts. A family office principal has created a mastermind group for buyers of his book for which they earn continuing education credit. A wealth advisor confided that she had over half a dozen clients considering leaving her firm after their mid-year reviews. After her book was released in Q4 and shared with clients, not a single one left.

Writing a book builds authority, accelerates client trust, differentiates you from competitors, and generates new business. A published book serves as a powerful marketing tool that provides long-term, multi-purpose value beyond the initial effort.

Here are 11 benefits of writing a book for busy financial professionals:

1. The “ultimate business card.”A book instantly sets an advisor or accountant apart as an expert in their field in a way that standard credentials or a firm brochure cannot. It positions them as a thought leader with a deep understanding of their niche.
2. A tangible asset.Holding a physical book signals a significant investment of time and expertise, which builds consumer confidence. People are more likely to listen to someone who has literally “written the book” on a subject.
3. Builds relationships before the first meeting.A book provides a way to establish a genuine, meaningful relationship with potential clients long before they step into an office. By sharing their philosophy and expertise through a book, advisors and accountants can connect with prospects on a deeper level.
4. Showcases personality and purpose.A book offers a unique opportunity to share personal stories and motivations, creating an emotional bond and empathetic connection with readers. This transparency helps potential clients feel they know and can trust the author.
5. Specializes and targets niche clients.With a targeted book, an advisor can open doors to a specific, high-value audience. Writing a retirement planning book for tech-savvy professionals, for instance, makes the author stand out in a crowded market.
6. Signals a higher tier of service.A high-quality book, particularly a branded one from a hybrid publisher, can create a premium perception that allows an advisor to command higher fees. For clients weighing multiple options, a published book can be the deciding factor.
7. Generates high-quality leads.A book can be used to generate warm leads by giving copies to prospects, clients (for referrals), and centers of influence, such as attorneys and real estate agents. A potential client who has read your book is already pre-qualified and familiar with your value proposition.
8. Creates content for ongoing marketing.A book is a content goldmine. Its chapters can be repurposed into blog posts, social media updates, webinars, and email campaigns, giving an advisor a coherent and strategic content plan for years.
9. Attracts PR and speaking opportunities.Journalists, podcasters, and event planners are more likely to book an interview with a published author. A book provides an attention-grabbing angle that can lead to valuable media exposure.
10. Forces clarity and focus.The process of writing a book requires an advisor or accountant to crystallize their unique methodology, philosophy, and value proposition. This focus can help improve internal processes and offer more valuable services.
11. Improves communication skills.The act of articulating complex financial or accounting concepts in an accessible way sharpens an author’s communication skills, which translates to more impactful client meetings.

Conclusion

Becoming a published author puts you in rarefied company and helps you stand out in a crowd of purported “experts” and “thought leaders.” It takes courage to put your name and reputation on the line and codify a lifetime of experiences and knowledge into just a few hundred pages. It may not be an easy journey, but I don’t know a single author who regrets taking it.

I’d love to hear more about what you’re doing to stand out from the crowd.
#thoughtleadership, #practicemanagement, #businesscommunication, #bookauthor

Early in my career I worked in business development. I once asked my boss if I was following up too often with a prospect. Her answer: “If I was being too aggressive the prospect would let me know.” I feel the same way when it comes to clarity in your writing and communication. You can never be too clear. People rarely if ever complain about that.

Take the abuse (or ignorance) of pronouns, which seems to be running rampant in business communication. For instance, which of the following sentences is correct?

1. David’s manager said that he will attend the meeting.
2. I spoke to the client, shipper and packager. They don’t know if it will work. She voiced some concerns about cost again. 
3. The new report indicates a serious problem, but it is unclear.
4. When the medic prepared a flu shot for the officer, he winced.

If you said none of the above, then you’re correct. Let’s take a closer look at the issues.

 Sentence 1: David’s manager said that he will attend the meeting. [Who will attend, David, or his manager?]
Better: David’s manager said that David will attend the meeting.

Sentence 2: I spoke to the client, shipper and packager. They don’t know if it will work. She voiced some concerns about cost again. [Who voiced concerns?]
Better: The client voiced some concerns about cost again.

Sentence 3: The new report indicates a serious problem, but it is unclear. [Is it the report or is it the problem?]
Better: The new report indicates a serious problem, but the report is not clear about the problem.

Sentence 4: When the medic prepared a flu shot for the officer, he winced. (Who winced—the pharmacist or the officer?)
Better: When the medic prepared a flu shot for the officer, the officer winced.

Watch your antecedents

Not to sound like your high school English teacher here, but an unclear pronoun reference occurs when the reader is unsure about which word the pronoun refers to (it’s antecedent). To fix a pronoun reference error, substitute the correct noun for the pronoun or simply reword the sentence.

Trap #1 Missing antecedents

Avoid pronouns that don’t refer back to any part of the sentence.

Unclear: The buyer called the mortgage office, but they didn’t pick up. (Who is they?)
Better: The buyer called the mortgage office, but no brokers picked up.

Trap #2 Who, which, or that clauses divorced from their antecedents

A relative pronoun connects a dependent clause to the main clause. Like other pronouns, who, which, and that must refer to a specific noun or noun phrase. To create clarity, always place the relative pronoun immediately following the word it refers to.

Unclear: Return your surveys by Friday, which will complete the review process. (Which is unclear—it doesn’t refer to a specific noun.)
Better: By Friday, return your surveys, which will complete the review process.

Trap #3 It, this, that, or they used in reference to a whole sentence

These pronouns should refer to a specific noun, not an entire sentence.

Unclear: The building plan includes a co-working space, a gym, and a food court. This adheres to zoning code.
Better: The building plan includes a co-working space, a gym and a food court.. The multiple-use plan adheres to zoning codes.

OK, simple enough. But let’s look closely at pronoun confusion when the stakes get a lot higher for legal compliance and investment decisions. We found it often occurs when a second (supporting) sentence is used to modify or enhance the previous sentence.

EXAMPLE #1: The Inflation Reduction Act (IRA) of 2022 introduced new tax incentives (and enhanced existing programs) for producing and investing in electricity by using non-fossil-fuel means.  The current Administration had clearly signaled that dismantling parts of this legislation was one of its priorities. While the decision has led to Congressional dissent from both sides, the OBBB takes a significant swipe at the incentives currently in place. 

PROBLEM: What does “this” refer to?
Better: The Inflation Reduction Act (IRA) of 2022 introduced new tax incentives (and enhanced existing programs) for producing and investing in electricity by using non-fossil-fuel means.  The current Administration had clearly signaled that dismantling parts of the IRA was one of its priorities. While the decision has led to Congressional dissent from both sides, the OBBB takes a significant swipe at the incentives currently in place. 

EXAMPLE #2: Common examples of undivided real estate interests are inherited homes passed down to multiple heirs, rental properties jointly owned by siblings or business partners, and family land that’s held for generational stewardship. This arrangement is also referred to as “tenancy in common” and the two terms may be used interchangeably.

PROBLEM: Does “this arrangement” refer to family land only or all type of undivided real estate?
Better: Common examples of undivided real estate interests are inherited homes passed down to multiple heirs, rental properties jointly owned by siblings or business partners, and family land that’s held for generational stewardship. Family land is also referred to as “tenancy in common” and the two terms may be used interchangeably.

Conclusion

Clear communication isn’t just about good grammar—it’s about protecting your business from costly misunderstandings. Whether you’re drafting a contract, writing investment guidance, or simply updating your team, ambiguous pronouns can create confusion that leads to delays, disputes, and damaged relationships. Don’t rely exclusively on AI and grammar apps. When in doubt, repeat the noun and read back your work aloud.

How is your firm improving communication? I’d love to hear more.

#thoughtleadership, #practicemanagement, #businesscommunication

One of the great things about our business is that we get to work with some of the smartest minds in accounting, wealth management and estate planning. But all too often the “curse of knowledge” trips them up when they’re writing, presenting or being interviewed. Having encyclopedic knowledge of your subject area has many benefits – but sometimes briefer is better, and you don’t have to overwhelm your audience with every single thing you know about the tax code or investing or estate planning.

I’m not suggesting you dumb things down or distill everything into 140 characters. But sometimes it’s better just to give your audience a small sampling of what you know, rather than overwhelming them with a firehose of information.

Many of you work in highly technical areas. One of the best ways I’ve found to get your point across quickly without dumbing it down is to use two of the most powerful word in credibility marketing: “For example.”

“For example” is a powerful communication tool because it acts as a bridge between abstract ideas and real-world experiences your audience can relate to.

Early in high school, I remember a young math teacher who seemed hell-bent on putting a room full of freshman smart alecs in their place. When it came to Pythagorean theorem, he went into a lengthy discourse about Euclidian geometry, the evolution of the hypotenuse, with all kinds of convoluted lines and squiggles on the blackboard. Like most of my classmates, I was baffled and bombed the first quiz.

Fortunately, I took advantage of an after-school tutor. Within five minutes she explained, Pythagorean theorem explains the relationship of the two shorter sides of a right triangle, to the longer hypotenuse (a² + b² = c²). For example, in a right triangle, she said if the two shorter perpendicular sides are 3 feet and 4 feet, then the longer hypotenuse must be the square root of 3 feet and 4 feet. [3^{2 =} (9 feet) + 4^{2 =} (16 feet) ⁼ 25 feet]. So, the square root of 25 feet is 5 feet. I could visualize the triangle’s shape and could certainly relate to measurements in feet.

Here are some other reasons why “for example” is so effective in getting your points across quickly and effectively:

1. Clarifies Complex Ideas. When introducing abstract concepts, using “for example” breaks down the thought process into easily digestible chunks. The example acts as a mental shortcut for processing complex ideas.

Example: Explaining “opportunity cost” in economics might be abstract for some, but if you explain it with an example like choosing between buying a new car or going on vacation, it’s much easier for people to grasp.

2. Engages the Audience. Instead of simply stating “Effective leadership requires trust,” showing how a successful leader (for example, Oprah or Steve Jobs) gained the trust of their teams makes the idea more compelling.
3. Builds Credibility. Using examples shows that you have a deep understanding of a complex topic, say tariffs, can apply your knowledge in practical situations. It lends authenticity to your message.Example: Citing a historical example, like how the U.S. handled tariffs in the past (1930 Smoot-Hawley Act; 1980s US-Japan Steel Wars) helps reinforce the validity of your argument and shows that your ideas are grounded in reality.
4. Makes Arguments More Persuasive. Why it’s powerful: By demonstrating a point with a specific example, you provide evidence that backs up your argument. This can make your claims more persuasive and difficult to dismiss.

Example: If you’re arguing that a remote work policy boosts productivity, you could use an example of a company like Microsoft that has reported increased productivity from remote work initiatives.

5. Fosters Better Understanding. Why it’s powerful: People remember and understand concrete examples much better than abstract theories.Example: Instead of saying “Investing early is crucial,” showing how someone who starts investing at age 22 versus age 42 has a significantly larger return due to compounding interest can make the idea more impactful.
6. Encourages Action or Reflection. When your reader/listener/client sees how an idea applies to a real-world scenario, they’re more likely to think about how they can apply it in their own lives or work.

Example: If you’re discussing the importance of time management, providing an example of a successful person’s time-blocking routine might inspire someone to adopt similar habits.

*** Here are more tips for using “For example” effectively

Real world example

As investors and their accountants were grinding through tax season earlier this year, a well-known financial services company published an investor brief touting the benefits of tax-loss harvesting.

Here’s an excerpt:

“Tax-loss harvesting is a tried-and-true strategy for lowering taxes and potentially helping increase after-tax returns. When you tax-loss harvest, you’ll pay taxes on your realized capital gains for the year, meaning you’ll only consider your net gains—the amount you gained minus any investment losses you realized. Learning how to harvest tax losses is key to helping put your money to work. If you have realized capital gains, you can offset them by selling securities from one of your taxable accounts at a loss and reinvesting the money in a similar investment or rebalancing, if needed. When reinvesting the funds, it’s important to be aware of the IRS wash-sale rule.”

Yawn!

Finally, about 14 paragraphs into the guide, the had the courtesy to give us the first “For example”:

For example: Let’s say you sell Investment A at a loss of $30,000, but later in the year you sell Investment B for a $25,000 gain. Your losses from Investment A would offset your entire gain from Investment B. That means you won’t pay capital gains taxes on the $25K gain from Investment B —and you’ll have $5,000 in losses left over. Under current tax rules, you can use up to $3,000 of that loss to offset your ordinary income, and you’d be able to use the remaining $2,000 to offset gains or income in future tax years.

Great example, but I bet most clients didn’t make it that far. Introduce “for example” early and often into your client meetings, presentations, blog posts and collateral materials. Your readers, stakeholders, staff and followers will thank you and share you.

Conclusion

As humanitarian Albert Schweitzer famously said: “Example is not the main thing in influencing others, it is the only thing.” Tell me how your firm is simplifying complex topics for your staff, clients and followers. I’d love to hear more.

During the peak of my marathon running days, there were plenty of times I’d be facing a 20-mile training run on a humid Sunday morning. My legs were still heavy from my Friday speed workout, plus I often had a slight hangover and some annoying minor injuries.

Sweating out the next 2-1/2 hours alone with your thoughts can make even Navy SEALs want to throw the covers over their heads. But I’d tell myself: “Just get through the first 20 minutes and then call it a day if you’re not feeling a little better. At least it will speed up the hangover recovery.” Most of the time I’d make it to the 20-minute mark, trying not to look at all the happy people heading out to Sunday brunch, the beach or the air-conditioned mall, and convince myself to grind out another 20 minutes. At the 40-minute mark, I’d do another gut check. Get to the 60-minute mark and then reassess. “I might not make it the full 20 miles today, but at least I’ve got a respectable number to put down in my training log.” And then another 20 minutes would be behind me, and then the mindset shift to: “I’m more than halfway to today’s goal. Might as well keep going for another 20.” Rinse, repeat, spit.

I bring this up because the 4^th Quarter is underway, and we’re starting to hear more and more excuses from clients for not getting their weekly writing assignments done. Whether it’s your turn to do the firm’s weekly blog, or byline an article for a trade journal or finish the next chapter of your book, we’re seeing more and more zeroes in our weekly progress meetings.

I get it, this is the time of year when client obligations seem to increase, just as time gets compressed due to year-end deadlines, family obligations, travel delays and volatile weather.

You vs. You

“In the battle of life, your toughest opponent will always be yourself. It’s YOU vs YOU every single day,” explained motivational speaker, David Goggins. To win, you have to callous your mind, push past pain, and do the things you don’t feel like doing.” See Goggins’ No Excuses Mentality

Goggins’ approach might be too hardcore for some of you, but situations like these shouldn’t be tolerated at any professional services firm. For three weeks, one of our clients told us he didn’t have time to review our edits to his 800-word blog post – something that didn’t require more than five minutes of his time. Another client took almost a month to clarify two sentences (30 words) in the lead paragraph of her column for a widely read national trade journal. She missed the deadline and a very high visibility opportunity for her firm and personal brand. Another client took over two weeks to get his headshot and an up-to-date bio to the producer of a Top 100 podcast and missed the interview opportunity.

Ouch!

Are you busy or a perfectionist?

I get it. We’re all super-busy putting out fires and dealing with client emergencies. But if you don’t carve out a little time to work ON your business rather than always in it, you will never move yourself forward in the thought leadership ecosystem.

When it comes to writing, we’re here to do most of the mental heavy lifting for you. We just need a few minutes of your undivided attention to tap into your expertise. Otherwise, the end product won’t sound like you or ring true with your audience.

When preparing for your weekly Gut Check calls with us, just tell your assistant to hold your calls, turn off your mobile phone and set aside 20 minutes to focus exclusively on your next assignment for us. When 20 minutes is up, you might not have reached the end zone, but at least you moved the ball down the field and picked up a couple of first downs. You can build on that momentum for the following week.

Isn’t that a lot better than telling yourself: “I don’t have time for Berkowitz this week,” or “I’ll never get this done, so why bother?”

To paraphrase Winston Churchill, “Don’t let perfection be the enemy of progress.” Many of you are detail-oriented professionals. When you say you don’t have time to write/edit/review, you’re telling us you don’t have time to make it absolutely 100% perfect. We don’t need perfect, and neither does your audience. They just need authoritatively good and more importantly, they need to hear from you on a consistent basis.

As my college track coach used to bark at us: “Anyone can run fast when they’re feeling good; we’re going to teach you how to run fast when you feel like crap and your ass is falling off.”

Conclusion

You may not set a personal best every day, but by making consistent, incremental progress, you’re becoming the best professional you can be. That’s called the “Kaizen Effect,” named after the Japanese word for continuous improvement.

What are you and your colleagues doing to make incremental progress every day? I’d love to hear from you.

#goalsetting, #practicemanagement, #contentdevelopment, #thoughtleadership, #DavidGoggins

If you’re finding it harder to get your content past the compliance department and trade media editors, it’s not your imagination. These eagle-eyed reviewers are increasingly under pressure to verify facts and matters of attribution before going live. They know content shapers are increasingly relying on AI to assist them. They know AI tools often rely on outdated sources or misidentify sources or sometimes simply make them up. (More on than in a minute) So, they’re scrutinizing sources like never before. Don’t make them doubt you.

Example

Here’s a paragraph from a book manuscript a prospect sent to us for review:

“If you write something down, there’s a 42% chance you’re going to accomplish what you said you’re going to do. You must always know what you’re going to do today, tomorrow, next week and at the end of the month. It’s not just about committing to what you’re going to do today. For instance: ‘I must deliver three tax returns by the end of the week. Period.’

Only 16% of people write down their goals. Those who write down the goals are 42% more likely to achieve them.”

The stats he cited sounded very reasonable. But when we asked where he got them, he hesitated before saying: “I forget. I read it somewhere.” That’s not good enough. Then he admitted he used AI to help him draft the manuscript “and it always gives me sources,” he assured us. So when we asked to see the sources AI came up with he gave us a link to this blog post on LinkedIn. Yes, the post mentioned the 42% statistic, but it didn’t cite where it came from.

Two wrongs don’t make a right.

A week later, the author somewhat sheepishly came back to us and said the missing source was CNBC because he heard it on a news report they did. To their credit the CNBC correctly cited Dr. Gail Matthews, a psychology professor at Dominican University of California, as the source of the 42% statistic. But alas the CNBC link was broken and it pointed to a general bio page for Dr. Matthews, not the source of her research containing the 42% statistic. We run into second-hand bias like this often from clients who say they read something in The Wall Street Journal or Financial Times or Bloomberg. But a news report in well-respected mainstream media is typically not the source – it’s just a conduit.

If you’re curious about Dr. Matthews’ research, the 42% statistic came from a paper she presented at the 9th Annual International Conference of the Psychology Research Unit of Athens Institute for Education and Research (ATINER), Athens, Greece. That’s your source.

Be wary of citing sources from AI

No one likes to have their hard work and research being ripped off without attribution. Academic research conducted by Middle Tennessee State University, Arizona State University and Duke University among others have found that ChatGPT and other AI tools will cite articles by an author who usually writes about your topic. AI might even identify a journal that published on your topic, but the title, pages numbers, and dates are completely fictional, according to the aforementioned academic studies. This is because ChatGPT and other AI tools are not connected to web search, so they have no way of identifying actual sources.

Since ChatGPT is based on a Large Language Model researchers found it does not have the ability to match relevant sources to any given topic. “It may do OK with some topics or sources, but it may also fabricate sources that don’t exist,” noted the Duke study. “Depending on the topic and availability of data it has on that topic, it may summarize the wrong source or provide inaccurate summaries of specific articles—sometimes making up details and conclusions,” Duke added.

Conclusion

We’re all super-busy these days. That doesn’t give us the right to be lazy when it comes to citing sources for your stats, facts and attribution. So do the work or hire someone to do it the right way for you. You’re an Elite Professional; Don’t Act Like a Jamoke.

What are you and your colleagues doing to improve your fact checking and research capabilities? I’d love to hear from you and why.

#businesscommunication, #practicemanagement, #factcheck

Space may be the final frontier, but it has no place in your business vocabulary. I can’t tell you how many times we’ve come across references to the “private equity space” or “ultra-high net worth space” in our client’s presentations, guest columns or podcast interviews. PLEASE STOP!

The word “space” is a prime example of business jargon run amok. Nowadays, it seems like every company is claiming to be in some kind of “space,” whether it’s the fintech space, the AI space, or the blockchain space. “Space” is a vague, catch-all term that often lacks substance. Stay away from it. Instead, be more specific about the industry, market, or sector to which you’re referring.

Greg Bauman of the Silicon Valley Business Journal explained that “space” is often used in business jargon to “puff up the speaker.” Beware of people who deploy it to imply mastery of a topic when their knowledge may be thin, he advised.

If you’re using AI, Grammarly, etc., to assist you that’s fine. Just don’t let those tools cause you to become lazy. Here are six more of our corporate-speak pet peeves. Chances are they’re bugging your clients, staff and stakeholders, too.

1. “Synergy” – This word is often used to describe the potential combined effect of two or more things working together, but it has become a cliché and is frequently used without much substance.
2. “Disruptive” – This term is overused to describe any new idea, product, or service that challenges the status quo, even when the “disruption” is relatively minor.
3. “Pivot” – Originally used in the context of startups changing direction, this word is now applied to any shift in strategy or focus, often unnecessarily. Maybe it’s time to pivot from your usual choice of words in your presentations, articles and podcast appearances.
4. “Low-hanging fruit” – This phrase, which refers to easily achievable goals or opportunities, has become a tired cliché in business communication. Buzzwords like these are the low-hanging fruit of business communication.
5. “Value-add” – This term, which refers to additional features or benefits that add value to a product or service, is often used without much substance or specificity. Hence, it’s not adding much value to your communication.
6. “Game-changer” – Ugghhh. This phrase is frequently used to describe any new development or innovation, even when its impact is not truly transformative. Think about how cringeworthy it is when the teenagers in your life use the word “awesome.” It’s the same thing when corporate folks use “game-changer” or any of the other jargony shortcuts above.

Conclusion

We’re all super-busy these days, but that doesn’t give us the right to be lazy when it comes to our written and spoken communication. You’re an Elite Professional; Don’t Act Like a Jamoke.

What are you and your colleagues doing to improve your communication and efforts? I’d love to hear from you and why.

#businesscommunication, #practicemanagement, #corporatespeak

As a trusted advisor, most of you would never think of canceling or rescheduling meetings with clients at the last minute unless it was an absolute emergency. But when you constantly reschedule with your team, your prospects, your strategic partners, your vendors, your consultants and even your family, you could be doing irreparable harm to your personal brand.  Word gets around fast in this digital age and what you’re telling people is this: “My time is more valuable than yours.”

Beyond hubris, some of the folks you keep canceling on have a higher hourly billing rate than you do – so that’s what, hubris-squared!? No one likes to feel marginalized – ask your spouse or kids how that feels. You’re also not being trustworthy and reliable.

As Stephen Covey details in his book The Speed of Trust, you’re not being trustworthy when you fail to honor commitments that you freely made. It also implies that can’t manage your time or your business very well. None of these outcomes are very good for someone deemed a professional. Again, word gets around fast these days.

“Keeping commitments is a sign of maturity” wrote Whitney Johnson, CEO of Disruption Advisors, in a Harvard Business Review essay. “It’s difficult to hold your subordinates accountable when you don’t hold yourself accountable,” added Johnson. “How do we inspire commitment in those we lead when it’s obvious to them that commitment is a negotiable principle for us?”

Lessons from Sinatra and Michael Jordan

Rory Henry, Director, Arrowroot Family Office and host of the AFO Wealth Management Forward podcast told me the other day that when you’re constantly cancelling or rescheduling meetings, it’s often a symptom of being “overworked or unmotivated.” When you optimize your business and relationships, said Henry, “your business meetings become like standing reservations for both parties involved. It’s the type of mutually beneficial relationship Frank Sinatra had with Patsy’s Italian Restaurant in New York and that Michael Jordan had with Gibson’s Bar & Steakhouse in Chicago.”

Both Sinatra and Jordan not only received exceptional service, said Henry, but their consistent presence also greatly benefited these establishments through their ongoing support. “In business, when you consistently look forward to meeting so much so that you don’t feel the need to cancel or reschedule, it’s a strong indicator of fulfilling and productive work relationship,” noted Henry, author of the forthcoming book Holistic Guide to Wealth Management.

“Regular, anticipated, and punctual meetings reflect a mutual respect and value for each other’s time and contributions, similar to the mutual benefits enjoyed by Sinatra and Jordan and their favorite restaurants,” added Henry.

Josh Patrick, Senior Advisor, Stage2 Planning Partners, and a New York Times guest blogger told me that there is a “national feeling” that being civil is a thing of the past. “That includes those who feel that ghosting is an OK thing to do,” said Patrick. “Too often, we say yes, and then we decide we don’t want to do whatever it is we said yes to,” said Patrick. “We then are rude or worse when we don’t show up.”

Patrick believes that social media and the fact that we can hide behind our screens and keyboards when being rude to others plays a role. “I also think that if you watch conservative news, you are in a constant state of rage and that rage overflows into other parts of one’s life like disrespecting people and the value of their time,” added Patrick.

Johnson agreed. “Never has canceling been easier and less painful for us than it is in the age of text message,” she wrote. “We can cancel without ever having to speak with, much less meet, someone. We can cancel five minutes ahead and without explanation. Just tack on an emoticon to our message, and we can convince ourselves that it’s almost the same as if we’d met our obligation.”

Like Johnson, Henry and Patrick, I believe rudeness is a factor, but when it comes to professionals and other high achievers, a bigger contributor is the misguided belief that “busier is better.” Too many folks with lots of credentials after their name are unrealistic about how much they can get done in a day, week or month. Thanks to technology and being connected 24/7 we think we can get more done in less time than is realistically possible, so we over-schedule, over-commit and under-deliver. All of these outcomes will come back to bite you in the long run.

As Johnson related, once she stopped constantly rescheduling her commitments and actually committed to them on the original date and time, her stress level went down significantly. “As I kept more and more commitments, I got more and more confident. And I learned how long things really take, so I got better and better at giving estimates on when I could deliver,” Johnson added.

Steps you can take

1. Stop making excuses. Excuses are like garbage cans. Everybody has ‘em and they all stink.

2. Prioritize. Start your day by identifying the three most important things you must get done in the next 8-10 hours and focus intently on those.

3. Find ways to show up no matter what. I don’t know if 90% of life is just showing up

4. Empathize. Think how it feels to be canceled or kept waiting constantly when you’ve come to an appointment prepared.

Conclusion

You’re an Elite Professional; Don’t Act Like a Jamoke. As Golda Meir famously said: “I must govern the clock, not be governed by it.” How are you managing your time and relationships with vendors, prospects, strategic partners and your team? I’d love to hear from you and why.

#timemanagement, #respect, #practicemanagement

Smart people often have difficulty explaining things simply. They may have a deep understanding of the subject matter and find it difficult to distill that knowledge into layman’s terms. They may be so familiar with the problem that they assume others understand it as well, and fail to realize that they need to explain it more clearly. Additionally, some people may have difficulty breaking a complex problem down into smaller, more manageable pieces that are easier to understand. Finally, smart people tend to fall back on jargon or technical language that the other person is not familiar with, making it hard for them to understand the problem.  Sound like anyone you know?

Early in my career I worked in marketing for an Israeli-backed startup that made competitive intelligence software for pharmaceutical execs. The founders – all engineers, programmers and former Israeli military intelligence officers – were convinced that the more complicated they made their software sound, the more impressed people would be. The VC’s were too embarrassed to admit they couldn’t understand how the software allegedly worked, but most of the sales team, pharma companies and industry analysts were left scratching their heads.

One day, after the founder rejected our new marketing brochure for the tenth or eleventh time, I suggested we simply describe ourselves as “Bloomberg for pharma execs.” I was almost fired on the spot, but eventually my suggestion found its way to the sales team who suddenly started closing deals. Then the engineers started firing on all cylinders. Then analysts started to pay attention and the trade press started writing generally favorably. All because they could suddenly understand what we were trying to do in terms they could understand. Everybody knew what a Bloomberg terminal was and suddenly, what we were trying to do had some context that was relatable.

The power of “For example”

As I explained in my post Overcoming ‘Smartest Kid in the Class Syndrome’ When Writing or Speaking, Research shows that most humans can’t multitask. But that’s essentially what you’re asking people to do when you introduce two, three, even four distinct themes into your writing and speaking. Instead, just focus on one theme per content piece, and get your thoughts down really well.

Making a statement without using examples can make your argument muddy, as well as create more work for the reader or listener. Using examples to back up statements of fact can add value to your writing. Examples make statements clearer, give readers more information, and decrease the chances that the fact or idea to be wrongly applied to real-life situations.

Let’s look at some instances of how “for example” can help make it easier for the reader or listener to understand what you have to share:

INSTANCE #1: “Studies have shown that sentences with clauses nested in the middle take longer to read and cause more comprehension mistakes. Ditto for most sentences in the passive voice.” Huh!?!?

Instead, try: “For example: If you write ‘Profits are loved by investors,’ instead of ‘Investors love profits,’ you’re switching the standard positions of the verb and the direct object. That can cut comprehension accuracy by 10% and take a tenth of a second longer to read.” Oh, Now I get it.

INSTANCE #2: “Smart people sometimes devalue other skills, like relationship building, and over-concentrate on intellect.” Okay I guess?

Instead, how about: “For example, an individual who finds workplace diplomacy difficult might write this off as an irritation rather than as a core skill required for their role. Similarly, they might see it as critical for a secretary to be personable, but not an executive. Therefore, they don’t invest time and effort in developing these skills.”  Yeah, I can relate to that!

INSTANCE #3: “When creating a portfolio, an investor (and their financial advisor) should understand what risk factors come with each type of asset, as well as any unknown factors that could also come into play.” What???

Try this approach instead: “While risk is inherent to the market, not all risks are created equal. For example, fixed income instruments such as bonds are generally considered safer than equities (stocks), but a blue-chip stock may be less risky than a poorly-rated junk bond.” Okay, I think I got it.

INSTANCE #4: “Again, we highly recommend contacting your Medigap provider before traveling to understand exactly what is (and is not) covered.  If you’re not covered, traveler’s coverage is relatively cheap.”  Really? How so?

Instead, try: “For example: a one-week trip for someone age 55 with $0 deductible and $1M medical limit would be $44 for the entire trip. For a family this might be somewhere in the range of $100 to $150.”  Now I’ve got it. Thanks.

Conclusion

Your readers and followers are busy. Don’t make them work too hard to get what you’re trying to convey to them. “For example,” is one of the best and most efficient ways to make complex concept relatable to the reader. Just us “for example” judiciously. Overusing it can make your writing repetitive or disrupt the flow of your text. Use it only when you genuinely need to provide an example to support or clarify your point. Your readers and followers will thank you.

Got something bugging you about your writing? I’d like to hear more.

One of the best things about my work is that I get to work with some of the smartest, hardest working and most insightful thought leaders in the financial advisory world. One of the worst things about my work is that I work with some of the smartest, most insightful leaders in the financial advisory world.

It’s a double-edged sword for our firm’s clients because they’re often asked to write, speak and sit on panels addressing their peers. They have so much expertise to share, but alas, it’s hard to fit all that brainpower and experience into the narrow confines of a blog post, article or short-presentation. So, instead of being selective, they try to cram a lifetime of knowledge into their content pieces and the readers ends up feeling like their drinking from a firehose.

Sounds familiar?

Research shows that most humans can’t multitask. But that’s essentially what you’re asking people to do when you introduce two, three, even four distinct themes into your writing and speaking. Instead, just focus on one theme per content piece, and get your thoughts down really well.

Marketers have long known that you should never have more than one “call to action” in any marketing piece if you want people to respond. If you want them to book a time to meet with you, make that appointment “ask” abundantly clear. Don’t also ask your reader to sign up for your newsletter, register for your next webinar or download your “information-packed” white paper (requiring all of their contact information). It ends up being information overload for the recipient and when they have too many choices, they end up doing nothing.

Same goes for your content. If your objective is to discuss investment strategies for today’s high inflation, recessionary environment, tell your clients and prospects exactly what they should do, when they should do it, how they should do it and why. That’s why they trust you. Just don’t go off on tangents about the technical definition of a recession, or how many more rate hikes the Fed will do, or which sectors of the stock market tend to perform best during recessions. It’s great you have all that background stored in your brain, but you’re not writing a book here or delivering a semester-long course on the topic. Just get to the point – and stay on the point.

Clients appreciate simplicity, not complexity

Again, too many advisors think clients are impressed by how much they know about the new tax reform, or Modern Portfolio Theory or estate tax laws. In reality, clients will reward you if you can simplify their financial issues and say: “Here’s what all this means for you and you’re going to be OK if you do the following things. These are the next steps.”

If you’re still in doubt, use the “What / So What / Now What” filter. Dallas-based wealth advisor, Kyle Walters told me he uses this thought process all the time. “Don’t just give clients The What (i.e., data and information),” said Walters. “You need to give them the So What (i.e., What does it mean for me?) and the Now What (i.e., What Do I do About it?). They’ll be glad you did and so will the people they refer you to.”

“Early in my career, I used to get very excited whenever clients came in for a consultation or review meeting,” said Walters, a reformed smarty-pants by his own admission. “I really thought they were coming in to learn about all the latest developments I was following in accounting, tax and personal finance. It took me about 10 years to understand from their body language that they were just zoned out, waiting patiently for me to finish my lecture so they could ask the only relevant question— “What does this mean for me?”

Walters said it’s like taking your car to the mechanic and having to spend hours listening to him explain the details of what’s wrong with your crankshaft or carburetor. Unless you’re really into cars, you probably don’t care. Walters said that for years he was like Tony, the overzealous mechanic from the Seinfeld show. “My wife would hear me on a call and say, ‘You shouldn’t talk so much; they don’t care as much as you think they do.’”

Conclusion

Clients don’t want to pay you for data. They’re paying you for advice and for educated recommendations so they can make smarter financial decisions. What’s your take? I’d love to hear from you.

#simplicity, #effectivewriting, #thoughtleadership, #practicemanagement

Last month’s post about faster, clearer writing, generated a fair amount of feedback. Several readers asked how to get started when you’re staring at a blank screen or simply dreading the process of “putting pen to paper”?

We get this question often during the Dog Days of summer because everyone’s on vacation, thinking about vacation or about to go on vacation. It’s hot and humid and now we have the looming recession, bear market and rising interest rates to further dampen your enthusiasm for doing anything extra, like being a thought leader.

Basketball legend, Julius Erving (aka Dr. J), once said: “Being a professional is doing the thing you love to do on the days you don’t feel like doing it.” I know what you’re thinking. You don’t love writing. But you’re a professional. Sooner or later, you’ll have to publish something under you own name for your clients, staff, prospects or industry peers. So, yeah, you’re a writer.

Don’t beat yourself up

I bring this up because this up because late summer is when my own creative juices aren’t flowing like they normally do. Outside of the office my workouts and race results are also slower than at any other time of year. Projects around my office and my house tend to get delayed if not ignored.

Acknowledge that these speed bumps in your productivity are seasonal, not permanent. Most of us don’t have the luxury of folding up the tent until Labor Day when full energy resumes. Instead, slow down and set reasonable seasonal-adjusted goals during the Dog Days of August so you can hit the ground running in September.

• If you normally call 10 prospects a month, cut back to five or six, but make those calls impactful.
• If your firm normally does four blog posts a month, dial that back to two or three, but spend the time to make them poignant.
• If you normally fly two or three times a month to see clients, maybe cut that back to once a month and fold a vacation into the trip.

Tips for slowing down to speed up

1. What are you really trying to say? Before you write Word One, ask yourself: “What is the single most important thing I want to get across to my audience?” Ask yourself that question out loud and when you have the answer, dictate the answer on your voice recorder or write it down on a white board for everyone to see. This makes the messaging real, and you might want to revise it before blasting it out for public consumption.
2. Don’t let your keyboard get in the way. Just tell a story by using any “thought-capturing” means you prefer. Some of you are more comfortable with a legal pad and a pencil than with a computer screen, especially when you can go outside and compose your thoughts to “write” on a favorite deck chair or hammock. The key is to slow down and find a quiet place to think.
3. If you can say it, you can do it. A few of you are natural writers, but many of you are more comfortable dictating into a voice recorder while stuck in traffic. Some of you are great presenters and PowerPoint whizzes but freeze up at the site of a blank computer screen. If so, try recording yourself on video, or having a colleague or close family member record you. One of our clients “dictated” two entire books to us using nothing but his best slide presentations and lecture notes.

The key is to slow down, compose your thoughts and tell your story in your natural voice so it comes through loud and clear.

Most of you are established professionals and thought leaders. You have a great personal story to share and it’s probably more interesting than you think. But if you don’t sound like you believe your own story when you tell it, then how do you expect your readers and followers to buy it?

Still not convinced it’s worth slowing down? Well, a Harvard Business Review study of over 300 businesses showed that companies that took adequate time for deliberation and planning averaged 40% higher sales and 52% higher operating profits over a three-year period.

I’d love to tell you we have “6 Easy Steps” or a magic formula for making the writing process easier. We don’t. It’s a personal battle between you and your subconscious. To win that battle you have to slow down, be brutally honest with yourself and go back to basics. Get crystal clear about what you’re trying to convey to your audience and how can they use it in their day-to-day lives?

As always, we’re here to help.

Conclusion

Here’s more about busting through writer’s block and procrastination. As French philosopher Voltaire famously said, “Don’t let perfection be the enemy of good.” Just take your time and be prepared to revise, revise and revise. Still not sure what to write about?  .Ping me any time. I’m happy to help.

#effectivewriting, #thoughtleadership, #practicemanagement