Yesterday, I ran into a 24-year old young man who is the son of close family friends. I’ve known “Jake” since he was a little kid, so I’ve seen for years that he has a magnetic, charismatic personality, and has always been able to attract friends.
About a year ago Jake started working for a local firm selling life insurance and investments – a very difficult career for anyone to start at a young age, with its long sales cycles and the need to get people to trust you with their money. He and I work out at the same club, so I see him on a regular basis and have a chance to hear updates on his progress. Some days I’d see him, elated, after a promising meeting with a prospect. Sometimes he was discouraged he wasn’t closing more sales yet.
My comments to him: You have started a career path where long-term relationships create riches. If you have enough great meetings with prospects now, you will start to build relationships with some of them. When you are 40, some of the relationships you start this month may be paying your mortgage. Meetings you have next month will start relationships that will help send your kids to college. If anybody can make it in this business, you can. The only question: Can you wait?
In most businesses, customer relationships are your most valuable asset. Jake has chosen a business where this is especially true, with great rewards for those who can create and nurture long-term relationships. But we’re all like Jake to an extent: Can we be patient and invest now, one relationship-building encounter at a time, in building those relationships that will help us prosper in the future?
Certainly, Jake could use his exceptional relationship-building skills for more short-term financial gains. He could be a waiter in a fine-dining restaurant, creating 45-minute relationships that, I’m sure, would earn him the largest tips of all the servers. But, beyond the few repeat customers who ask for him, these relationships wouldn’t create lasting value for Jake. If his insurance job is like that of a christmas tree farmer, being a waiter would be more like that of a migrant worker, earning wages for today but starting over tomorrow.
I’m rooting for Jake, and for his firm. If he and they can be patient, all will benefit, including Jake’s future clients, since We relationships create strong benefits for both buyers and sellers.
It’s easy to look at Jake’s situation and think, “I’m glad that’s not me. I could never sell insurance.” And yes, specifically, I could never sell insurance. I’d go nuts. But Jake’s job really isn’t selling insurance. It’s building relationships that differentiate him from other providers in the minds of his clients. And when we recognize that we again remind ourselves that Jake’s challenge is our challenge: Do we want to be the migrant worker or the christmas tree farmer? Do we want to build our business around short-term transactions that produce their yields now, or do we want to invest in a rich, bountiful future harvest?