Blogcast 69: Creating Value

What’s beyond the Experience Economy? Being invaluable, for one. But there’s more.

To read the original article, click on the title: Creating Value.

Check out the video below:

So to summarize:

  1. Cutting a price doesn’t create value, it makes things cheaper. There is a difference.
  2. Value is created around the good or service – not within it. If cutting 2% off your fee creates value, it won’t last and it won’t be long until you cut another 2%.
  3. Becoming a commodity is a choice, and you increase your value by asking better questions. If you ask “How much do you want?” or “What do you want?” or “What can I do for you?” then you compete on price. But if you ask, “Who can I help you become?” then you’re not in the investment business, you’re in the transformation business and that is worth a premium fee.

Did you like this video? What challenges in the marketplace are you having that I can address in future Serious Shift Blogcast episodes? Please share your thoughts in the comments section below.

Thank you,

Dennis Moseley-Williams

Are you ready to shift? We have worked with thousands of professionals who want to “SHIFT” and create more for their customers and themselves.

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Comments (6)

Thank you brother for sharing some love and some of my thoughts. Love you spin… always.

See you November 13th at Launchfest in Cleveland.

Like the new format of the when for blog. Not rigid, but inspired. Keeps the enthusiasm alive. I enjoy the blog and when it comes I feel the gift more than an obligation of a business plan. Thanks

Right on – Thanks Larry. And thanks for your continued support and for waving my flag when you can. DMW

Dennis
Another excellent message! As we have chatted about at length in the past – the way advisors charge for their expertise and commitment continually evolves and there will be always be an element of fee compression for the industry in general. Independent advisors and RIA’s have more flexibility to be creative and innovative with how client fees are structured while the large national Broker Dealers seem to handcuff their advisors with fairly rigid pricing models.
Client experience drives all – you’ve been on this train for over a decade! Keep making magic!

DB

Yes at one time I rode this train on my own and suddenly its the place to be.
Client sensibility (the decisions they make that help them make a choice) drives everything.
The financial services industry won’t change until it has to. Until then the race to the bottom is full on.
Don’t join it, you can’t win. You don’t want to win.
DMW

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