Core Messaging


I recently had the pleasure of reconnecting with an old friend and colleague.

Paul was a financial advisor in the same office where I work but about a year ago, he moved on and started a consulting firm for tech start-ups and embarked on a professional speaking carrier.  Because I write a lot and produce short videos I wanted to meet up with Paul and pick his brain on how to get more exposure and start booking speaking gigs myself.

Our conversation was wide ranging, but Paul’s advise could be boiled down to just one key point.

  • “Get super clear about your core message and repeat it over again every chance you get.”

What’s my core message?  I’ll get to that in a minute.

Bruxy Cavey, another mentor of mine broke his core message down into three separate statements, each one more succinct than the one before.  In doing so he was able to clarify his message and use each of the statements in different contexts.  The longer statements are good for writing and speaking when there is adequate time to express the nuances of the message while the shorter statements are better as conversation starters or when brevity is required.  Bruxy’s core message can be easily stated in one word, three words and thirty words.

The other thing Paul encouraged me to do is to claim a title for myself, something that clearly states who and what I am and aligns cleanly with my core messaging.  The title itself should say as much as possible without the need for further explanation.

So here it is, taking a page each from Bruxy and Paul my core message broken down into a five-word title, and then clearly stated in five letters, five words and five paragraphs.

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I am an Ambassador of Peace and Justice.

My core message in five letters is: Let go.

My core message in five words is:  Peace without Justice is Oppression.

My core message in five paragraphs is:

God is Love.

In the beginning God created the heavens and the earth and made mankind both ruler and caretaker over all that He had created.  There was only love.  There was no war, no violence of any kind, no injustice and no oppression.

Mankind was deceived into thinking that God was holding something back and rebelled.  We set up systems and institutions to try and take control of that which belongs to God and which He was freely sharing with us.

As a result, the world is broken.   All man-made systems and institutions (including our government and the church) are broken.

But God is still Love and wants nothing more than to reconcile with His creation.  Mankind is still in rebellion and cannot let go of the control we have taken for ourselves.  Reconciliation with God is the only cure for our broken world.  That reconciliation begins with mankind letting go and taking a posture of surrender, gratitude and other-centredness.

That is my core message.

Further to the message I have chosen the word “meekness” to describe the mindset that mankind needs to ascribe to in order to achieve reconciliation with God.  Meekness is not weakness, it is the willing submission of personal power, entitlement and ego, a form of surrender and laying down in the presence of God’s pure love.

The meek shall inherit the earth but only through letting go.  Peace shall be achieved but only through justice.  And God’s creation shall be restored but only through surrender.

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 Do you have a plan to sustainably grow your savings?


 Vlog Episode Two

According to the latest census data, 65% of Canadians say they are saving for retirement.

That’s good right?  But the same census showed that average the rate of savings is only 4.6% of household income.

The average household income in Canada is $70,336.  So that means we are saving just $3,235.46 per year.

Now most of us are pretty conservative with our investors.

We stick with medium and low risk mutual funds, bonds and so called “Blue Chip” stocks, those are the world’s biggest companies with the longest and most stable track records.  After we consider things like inflation, taxes and fees most of our investment portfolios are giving us a real rate of return somewhere in the 3% range.

So if you’re an average Canadian and you invest $3235 per year and get a 3% return in 40 years you’ll have amassed a Grant-Total of just $215,156.

Can you retire on that?

Is that sustainable?

I can hear you already – “But we can’t afford more right now”.  “I have a pension so I’ll be okay”. “What about the government programs like CPP? Won’t they support me?”  “Maybe we can increase our savings once the kids are grown up”.

Those are all valid points and one of these days I intend to address them all.  For now, if you have a company pension I just of one word for you – “Nortel”.  And CPP is great but it won’t be enough, you still need to supplement it with your own savings.

But let’s do the math on that last one.

What if you stuck with the average savings for 20 years while you were raising your family and then doubled or even tripled your it for the next 20 years?

Well in that case, if you double your savings you would end up with $260,777, tripled – about $356,000.

Better, but still not really enough.

We clearly need a different strategy.  One that starts with taking a more wholistic approach to things like lifestyle goals, takes into consideration your age and stage, and most importantly your debt ratios.

So let me ask you one more question.

If I could show you a way to sustainably grow your savings for the future – without significantly changing your lifestyle now – would that be a conversation worth having?

Write to me in the comments below or send an email at the address on your screen and let’s talk.

 

Hey… Can I Ask You A Question? – (Vlog)


Continuing on my blog post from September 20, “Three Key Questions Every Financial Planning Should Be Asking”.   I’ve started to put together a series of marketing videos that ask and answer some of the most common questions that I receive or use in my practice.  The questions that I will be exploring here are designed to help you, my potential clients, get a clear picture of what I can do for them and move the conversation forward.

The series is called “Hey.. Can I Ask You A Question?” And will follow an animated whiteboard format to ask the question, walk through a few potential scenarios and end with a call to action for the viewers to reach out for more information.

The first video is live on my YouTube Channel now.  You can check it out here…  and be sure to click on the bell icon in the top right corner to be automatically notified as I create more videos.

“Just Like You…”


Continuing where I left off last week in discussing my Elevator Pitch for new prospects.  Once I’ve successfully converted a prospect to a client or decided that there is no real opportunity there the next step is to ask for referrals.  I’m always on the lookout for new clients and where better to find them than through the endorsement of people I have already worked for and who are presumably happy with the service I provide?

I start by saying something like this;

“As you know I’m actively working to expand my practice.  Now that you know first-hand the way I work perhaps you can help me find more clients just like you who recognize the importance of protecting their loved ones and know the value of professional advice.  Who do you know that I should be talking to?”

The exact wording of what I say, when and how I say it during my conversations varies but there are three elements (highlighted) that never change.

Just Like You…

Gratitude and a little bit of flattery never hurts especially when you are asking for something.  By telling a client that I want to work with people just like them I am expressing thanks and giving them an ego boost at the same time.  I am saying that you fit the profile of my ideal client, you are special, I wish I could clone you and spend the rest of my life working only for you.  But alas that’s not possible so who else do you know that you would be proud to bring in to our exclusive little club?

One of Dale Carnegie’s famous tips from “How to Win Friends and Influence People” is to start with a complement.  Telling a client that I want to work with more people like them certainly fits that formula.

Protect Their Loved Ones…

One of the reasons why Life Insurance and Investment products can be so hard to sell is that at the end of the day, they aren’t really for you.  At best, in the case of a retirement plan they are for a future version of you and in the case of Life Insurance they are for the people closest to you but they are never truly for you in the here and now.

Legendary Life Insurance agent George Sigurdson of London Life and author of the book, “In Search of Friends; A Guide to Prospecting” says –

                “Life Insurance is a product bought with love and paid for with healthy choices.”

By telling clients I’m looking for people who want to protect their loved ones I’m reinforcing the flattery of the first statement by saying I see that in you and helping them fill in the picture in their mind of who else would be a good fit for me.  Another way of saying it is that I want to work with people who love their families enough to sacrifice a little bit of their cashflow to make sure they are going to be okay.

My friend Bruce told me a story once about driving on the Autobahn in Germany.  The first time he got behind the wheel he was excited to see just how fast he could drive but after a few minutes his wife leaned over and whispered to him, “Remember – you love your family.”  Suddenly it was no longer about how fast he could drive, it became more about safely getting to their destination with his is wife and their three young girls in the back seat.  He sacrificed his selfish desire to drive fast for the safety and security of the people he loves the most.

At the end of the day that’s what Life Insurance and Investing are all about.  I want to work with people who get that.

The Value of Professional Advice

Admittedly this last point can back fire if I haven’t laid the ground work for it in the previous two statements.  It basically says – “You are not the professional, I am.”

I’m poking at your ego a bit.  But by know you’re either already a client or I’ve determined that you aren’t likely to become one in the short term.  A little dig can serve to either snap you back into the conversation or further enhance the warm and fuzzy feelings I’ve evoked by reminding you how great you are for buying Life Insurance or starting an Investment plan.

The Investment Funds Institute of Canada (IFIC) has determined through numerous studies that people who work with a financial security advisor, on average, have up to four times more investable assets than those don’t.  Professional advice is clearly valuable to those who care to seek it out.  Similar studies have shown that the main reason people don’t seek out professional advice is a perception that it is too expensive or too complicated and that they are not sophisticated enough to benefit from it.  Lastly, many people don’t adhere to the need for professional advice because they have an unrealistic perception of their own ability to go it alone.

By telling people that I want to work with those who value professional advice I’m reinforcing the previous points, you’re great, you get this, congratulations on your good decision-making ability.  While at the same time reminding you that this is not too expensive or complicated.  I’m also drawing a line in the sand and making it clear the type of person I don’t want to work with.  If you think you can go it alone, without the help of a professional, good luck with that.

The world’s greatest philosopher Jesus of Nazareth said it best:

                “It is not the healthy who need a doctor, but the sick.” Luke 5:31

In other words, if you think you’re okay, I’m not here for you.

So that’s my referral pitch.  It is designed to help reinforce in my clients and prospects a sense of their own worth to me and my practice and frame in their mind a specific picture of the people in their lives that I think I can help.  When I finally ask the question “who do know that I should be talking to?” a specific someone immediately pops to mind.

Who just popped into your mind?  Let me know – I’d be happy to meet them.

Lauren C Sheil is a Serial Entrepreneur and Financial Security Advisor.  He helps people live life to the fullest along the way teaching them to Eliminate Debt, Build Wealth and Leave a Legacy.  Write to themeekonomicsproject@gmail.com 

 

Is Everyone Having Fun Without Me???


Kicking the Fear of Missing Out in the Face!

Ever since mankind formed social groups we have always experienced a level of anxiety associated with being left out.  What’s the big deal about owning a wheel anyway?  Life would be so much cozier if I had a new stone fire-pit like that tribe over there.  Why didn’t Suzy invite me to the party?  But in recent years, with the advent of the internet and social media, this ancient anxiety has been ramped up to new and unprecedented levels.

In 2004 while finishing his MBA the soon to be world renowned venture capitalist Patrick J. McGinnis wrote an article for The Harbus (the student newspaper of Harvard Business School) entitled “Social Theory at HBS: McGinnis’s Two FOs”  in which he coined the phrase “The Fear of Missing Out” or FOMO.

FOMO is characterized by an almost manic drive to see and do everything.  But while you are rushing from one commitment to the next there is something else bubbling just below the surface.  You see it when people who should be engaged with their surroundings sit in the middle of a highly stimulating activity face down in their phones.  These are the people who abruptly change plans, never give a firm commitment and always seem to have one foot out the door.  They have graduated from mere FOMO, to the second FO – FOBO or the Fear of a Better Option.

FOMO is not really new.  Social Media and other forms of technology like text messaging have made it more prevalent and easier to get caught up in than ever before but the Fear of Missing Out has always been with us.  So has the Fear of a Better Option.  When I was a kid – before cell phones and social media, when phones had cords and hung on walls and computers weighed forty pounds, we called it something else.  We called it staying in touch, being popular or keeping up with the Joneses.  But whatever you call it – it’s FOMO.

As your Financial Coach it often feels like I’m fighting losing battle against FOMO and FOBO every day.  These two FOs are the main enemy of sound financial planning.  Keeping up with the Joneses when our every move is documented and published on social media is a losing game.  Especially when we think about the fact that people only post their best moments on Facebook and seem to go silent as soon as the credit card bill arrives, the bill collector comes knocking or the hydro gets turned off.  (That last one more out of necessity than choice).

We need a third FO that can over power and replace the first two.  And think I found it.  I call it FOOM, the Fear of Outliving your Money.  When FOOM takes over your every thought, FOMO and FOBO don’t stand a chance.

The Fear of Outliving your Money forces you to budget for today and save for tomorrow.  It used to be that the average person needed savings of about $1 million in order to retire comfortably.  But that’s not true anymore.  With longer life expectancy and lower interest rates that number is more like $1.5 million.

I looked at a projection for a 35 year old yesterday who earns $100,000 per year (slightly higher than the nation average) and his number was a whopping $1.9 million.  But FOMO and pressures placed on him by watching all his friends on social media has him overspending to the point that he has exactly $0.00 saved and only 30 years to go before his planned retirement date.  That means he needs to put away over $600 per month for the rest of his life starting immediately.  When I told him so he nearly fell out of his chair, not because he doesn’t have the money – he does, but because it would mean intentionally missing out on some of the life experiences he has become accustomed to.

FOOM kicked FOMO in the face!   After a little bit of bargaining because he wanted to have his cake and eat it too, (that’s FOBO) he got it.

So here’s my advice for all you people out there with a bad case of FOMO.  Go on a social media holiday – try it even for a day and see if you don’t start to feel a bit better about yourself.  At the very least stop looking at your friend’s latest vacation pictures and start a savings plan, even a small one will help.  And whenever FOMO starts to creep in look at the balance of your savings accounts and tell yourself that no what happens from now on you will always have at least that much.  As you discipline yourself and watch that money grow, FOOM will dissipate and FOMO will become irrelevant.

In many ways that’s what Financial Planning is all about.  I’m here to help you realign your priorities and help you eliminate all forms for financial fear , whether it’s FOMO, FOBO or FOOM fear has no place in financial planning.  In fact it’s the planning part the really kicks all forms of fear in the face.

 

 

Vlog 4 – Understanding your Balance Sheet


This week’s Vlog grew out of a conversation I had on Tuesday with young business owner about the importance of building your net worth and managing a balance sheet.

Enjoy…