I know that you want to be a happy customer. When you walk in a store or a professional's office you have a problem you hope that can be solved. Too often the person you're speaking with acts like you know tons about what it is they do. They start to use jargon and have complicated explanations of how they're going to solve your problem.
Instead of having your problem solved you scratch your head, feel really dumb and walk away without buying anything. Your problem wasn't solved and the supplier didn't make a sale.
So, tell me, what's good about that situation?
Tell your supplier you don't want it complicated.
Here's what I want you to do. The next time one of your advisors or suppliers starts falling into the world of complicated explanations filled with jargon simply say, “STOP.”
Then, tell your supplier you have no idea what they just said. Finally, tell them that if they really want your business they're going to have to explain their suggested solution in English that you can actually understand.
I know that you don't want to put your supplier on the spot, but it's really the only way you're going to get them to speak English.
Does your supplier understand what they're recommending?
Do you ever wonder whether the person you're buying something from understands what they're selling. In my experience, when someone uses a lot of jargon and makes things sound really complicated the person speaking with me doesn't have a clue about how their suggestion is going to help me.
I've found those who are the most skilled at any profession can always explain what they want me to do in plain, easily understood English. What about you? Do you find that masters make it easy and amateurs make it hard?
Do yourself a favor. Give your supplier one chance to simplify. If they can't find someone who can.
Your supplier might like complicated…….but
You don't like it that way. I know because I've dealt with hundreds of customers and have been a customer too many times to count.
In the past I wouldn't let the professional I was working with know I didn't understand. After all, I didn't want to look dumb. Now, because I'm older and much more cranky I don't let that pass.
If I don't understand, you're going to hear about it very quickly. And, if you can't start making me understand I'm going to move on.
I recommend that if you're a buyer of services, then you do the same.
If it's complicated do you take action?
When I first got into the wealth management business I fell in love with really complicated strategies. I found them interesting and from an academic point of view they made a lot of sense.
Then I learned something. My implementation rate for all of these complicated strategies was a whopping zero. No one was buying them from me.
I learned that buyers are a lot more sophisticated than I thought. My customers knew that if they didn't understand it, then there's a good chance they were going to get burned.
Just learn to say no until you understand what's being presented. And if you never end up understanding, don't buy.
Making it simple is hard work.
If you're an advisor you know what I'm talking about. If you're a customer, just know that when something looks easy and effortless, it's not.
When someone can explain a process or product that can add tons of value and sounds simple and easy it took lots of work. It probably took your advisor or company representative a long time to figure out how to talk about their product in a way that's easy for you to understand.
In my experience, those who make the complicated simple are the real heroes in the world. Unfortunately, there just aren't very many of them.
Advisors, take notice.
If you're an advisor and you're reading this post just know this; your clients don't want you to present in a complicated or jargon laden way. Instead, they want your explanation to be easy to understand.
If you as an advisor want to improve implementation of your ideas from your clients make it easy for them to understand what you're suggesting. If you're the client, it's time for you to start demanding that your advisors and suppliers speak in easy to understand English.
It's all very easy. Customer be clear about what you want and advisors start thinking like a customer. You'll both be glad you did.
Why don't you send me an email with a story of an advisor who made it easy for you to buy. I've heard way too many stories of times it was hard.