Power in a Professional
power in a professional
Let me ask you a question. Would you go to a doctor that only got paid if they performed surgery? Or would you take your car to a shop that only got paid if they replaced a part? Once they told you that you needed surgery or the car part, would you feel confident that it was totally necessary? Or would you feel that it was recommended so that they could get paid? I don’t know about you, but in this world that we live in, sometimes it can be hard to distinguish between pure intensions, or if someone has an alternate agenda. So, what does this mean in the financial planning world? Proper financial planning aligns the advisor and the client together in such a way that both parties can feel best! The client does not feel like they are being sold another product that they may or may not need, and the advisor receives deserved compensation for the time in which they spend with the client.
Ok so we now understand that it is best to have a doctor that doesn’t just get paid for surgery, but there is more to it than that!
Imagine with me:
You were playing kickball and in your attempt to steal second base, you epically slide, colliding with the other team and the base in such a way that you break your leg….but this wasn’t just any kind of break it was a compound break (which means that the bone has broken through the skin… I know gross!). You get rushed to the ER and the doctors can immediately see the break, so they start right away to fix it without running any other vitals or triage. Un Benoist to you or the doctors (because remember they only diagnosed and implemented what they could readily see), you also had developed a pulmonary embolism (a blood clot that forms in your leg and can block and stop blood flow to the lungs). If untreated, this can prove to be fatal more often than not…now open your eyes and I want you to really think about this for a minute…would you rather have had a doctor that took the time for a full diagnosis prior to implementation? Or the doctor that just went for what was right in front of them?
I would ponder the questions,
“Can you even efficiently and effectively implement without a full picture and diagnosis?” “Could not having a full diagnosis lead to a less effective, inefficient, or altogether incorrect strategy of implementation?” There is a big distinction between diagnosis and implementation. A diagnosis is the investigation or analysis of the cause or nature of a situation, or problem; a statement or conclusion from such analysis. Implementation is the process of making something active or effective.
A question you might be thinking to yourself is, “Can’t I just diagnose and implement on my own to save on time, energy, and resources?”
The answer of course is “Yes” you can…. but would you WANT to?
What would the potential cost be?
Would you have as much confidence and clarity as well as a high level of certainty of your desired outcome? The value of a licensed professional is they have dedicated their entire career and their lives towards understanding every aspect of their profession. Would you ask your electrician to perform surgery on you? Probably not! And why is that? It is because that is not their area of expertise! Would you ask your surgeon to rebuild your car engine? Probably not! Unless that is an area in which they have also studied! The point is, hiring someone allows you to not have to dedicate precious time and energy towards a field that may not be a passion of yours. I always say to stay in your swim lane! If you hop from lane to lane, will you reach the end of the pool faster? I don’t think so!