For several years, I consulted with a marvelous, highly successful fixed-income brokerage company. One morning over breakfast, the CEO offered a provocative phrase and strong acknowledgment of his general counsel that I’ve never forgotten.
He stated his general counsel was indispensable to him for the “confidence-good” he provided him. I paused and asked him to define this.
He said his counsel will often flag an issue that can become larger and more problematic down the road if not neutralized now versus when it’s too late or requires too much effort or capital. I thought this was profound.
Predict the Future, Provide Solutions
I then thought about my own practice and how I offer a “confidence-good” to my clients. It can take many forms, from recommending a Town Hall that will nip a problem in the bud to stating that an organization is not in one voice with their offering, which could lead to fragmentation and miscommunication of the brand’s value proposition over time. These recommendations are examples of “confidence goods.” They provide a client with confidence that you have presciently noticed how to help them and had the courage to speak it. It also demonstrates that you not only concern yourself with current issues but are invested in the company’s future enough to predict issues while recommending preventative solutions. Like a game of chess, you are observing current conditions while staying three to four steps ahead.
As you go forward, define the “confidence-good” you can present to a client and watch it resonate with them!
If you need help with it, give me a call. – SG