Yesterday, I said the only real asset an advisor/consultant has is a client’s trust.
But as I wrote those words, I realized one thing might be even more important than trust: expertise.
Trust and expertise are both critical partners. You won’t succeed without having both. But expertise is the foundation for everything else.
For example, you can trust someone, but if they don’t have expertise, you won’t hire them.
On the flip side, you may not fully trust someone, but if they’re the best at what they do, you’ll hire them.
So how does one become an expert?
The difference I see between high-paid consultants and those who struggle is the amount of time and resources they spend on learning, investing in their expertise.
The successful ones I see are constantly investing in themselves. Courses, coaching, books, events, anything they can get their hands on.
As Benjamin Franklin is quoted as saying:
“If a man empties his purse into his head, no man can take it away from him. An investment in knowledge always pays the best interest.”
It’s because “no man can take it away from him” that school debt doesn’t go away with bankruptcy.
Personally, I invest 5-figures a year into my professional development. I buy education on value, as an investment, knowing it will likely return several times what I pay for it.
Without constant reading, coaching, courses, and other self-explorations, I don’t think I’d be anywhere near where I am today.
I don’t even blink when I see a book that might help move the needle (which is, by the way, why every expert should write and sell a book).
It’s because of these investments in my education that I can do two things:
- Market myself effectively to keep opportunities flowing
- Provide solid advice for my clients so they keep getting results
As it stands now, I’m fully booked. Not to brag or anything (but I will just for a sec), there’s a waiting list to hire me. The marketing stuff is working.
But on the flip side of that, my clients are also happy. Why? Because I deliver results.
I attribute this fact to my investment in education (and maintaining trust). These are the critical assets.
Trust you can lose, which is why it must be managed closely. Expertise is yours forever (although it fades with time).
Invest in your education. You simply can’t be world-class unless you spend the time, effort, and money making yourself better.
You deserve it. Your clients deserve it. And honestly, it’s just fun to get smarter.
Do you agree?