by Tony Vidler
We often find ourselves giving good advice only for clients to then dawdle over the implementation of it. That of course presents a range of “risks” for clients as well as being frustrating for the adviser. Whether that risk is the “time cost of their money”, or an opportunity cost, or a risk of increased pricing, the end result is that delay creates unnecessary risk.
The challenge then is to have a simple method of getting clients to understand that they are best to get on and act on the advice given, without having a hand-wringing conversation about imminent risks which may or m ay not occur. All too often it is right at the point of implementation that a client feels that all the hard work on their part has been done and there is little more for them to do, so any urgency to act begins to dissipate, no matter how motivated they were at the beginning of the engagement.
A very simple tool that is worth keeping handy is a graphic that shows the positive effect of getting on with something quickly, and with commitment. It is even better in my view to not use a “the” graphic at all, but to draw it in front of them….but that is perhaps a personal style thing.
Most important though is simply being able to highlight how delay or lack of commitment combine to make any project all the more difficult….and this little visual is often sufficient for clients to realise that the best course of action is to just get on with it. Check out the video to see what I mean…