I’ve been talking to you about Credibility since 1991. That’s when I began researching it (what it is and how to capitalize on it). Now, about seventeen years later, I’ve learned a plethora of surprising facts about Credibility in the financial industry. Perhaps the most surprising thing I’ve learned is this – what creates it remains constant, but what most advisors do to get it continues to be wrong. Let me show you a few of the blunders we see all the time:

Credibility Blunders

  • People on the securities side believe that their knowledge gives them Credibility. Truth is, their deep knowledge usually hurts them.
  • People on the insurance side believe that their Credibility comes form their credentials. Nonsense. Consumers have no idea what those credentials mean, so they can’t help Credibility.
  • Many advisors believe that merely speaking at a seminar gives them Credibility. In fact, since so few advisors have the skills to speak powerfully and effectively in public, conducting a seminar hurts them more than it helps. Who wants to do business with someone who is pompous, weak or confusing on stage?
  • Most advisors believe that Credibility comes all at once, like the result of an event. Actually, it’s like gaining or losing weight – you add Credibility bit by bit, over time. Or, you shed skepticism bit by bit, over time. However, you can lose it in a flash.
  • Many insurance agents think (hope) that their Credibility comes from the products they sell or the companies they do business with. Both are wrong. Products and companies tend to be mirror images of each other. The only real differentiator is you.

This article introduces you to two things: 1) some of the facts about Credibility – based on our own research. This means real research, not opinion. And, 2) a Credibility Strategy that you can implement today.

Please keep this in mind:

Credibility is like mathematics – you cannot improve on something you do not understand.

Credibility is the result of a process. The more you know about the process, the more effective you can get with it and the more successful you can become.

Point 1

People give Credibility to people they like. So, show yourself as likeable. This does not mean to wink at your prospects or splash on some English Leather. It means that you need to pay attention to some science – the psychology of attraction. Simply, people are attracted to their own qualities and characteristics. When you talk like them, walk like them and look like them, they will unconsciously be attracted to you. (I was personally involved in some experiments to prove this – it was frightening.) When you express the same values as your prospects, they will take yet another step closer to you.

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