Never underestimate the power of a name, of what you call something.
So, donkey’s years ago when I first started seeing a financial adviser, this is pre kids, pre husband, you know, very, very free and very different life to what I’m living now, I was obsessed with shoes.
And to the point where we set aside some money, or my adviser helped me set aside money every year, that went into a guilt free shoe account.
And in my internet banking in that nickname section, we called the account the “guilt free shoe account.”
And it was so interesting because even giving it that name meant that I always referred to any spending I did from that account as my ‘guilt free shoes’.
And I only bought shoes, but it’s quite enriching being able to buy shoes guilt free, up to a certain amount.
So don’t underestimate what you give things, or what you call things and the name that you give them.
So I see a lot of advisers and you’ve got different names for the stages in your process.
Or maybe you’ve got a Program that you deliver, or maybe it’s the work that you do on an annual basis with a client.
But think about what you call it.
Is it something that’s aspirational and exciting to your client?
Or is it very internally focused and it’s a name that you’ve come up with purely from a business point of view, looking at it from the business context only?
And if that’s the case, could you give it a new name?
Could you change the name?
Could you give it something that’s more exciting?
So instead of just ‘looking after your financial affairs’, or the ‘12-month annual agreement’, could it be:
‘Getting you financially fit over the next 12 months, or
‘Setting you on your path to financial freedom’ or
‘Living a better life’ or the
‘Better Life Program’, whatever it might be?
So think about everywhere you name something in your business.
And consider how that name comes across to your clients?
Is it something that would make them go “ooh, ooh, yes, yes, I want myself some of that?”
Or is it something where it’s a name that goes in one ear and out the other?
You know like some restaurants or some shops, and they might be a decent shop, but you can never remember their name.
Doesn’t win you any favours by having names people don’t remember or names that are uninspiring.
So have a look at all the things in your business that have a name and in particular names that you use with your clients and see where you can make sure that name represents something that they will value and find useful and want what it is.
Because after all, You are Valuable!