How does our training help people sell better?
We created a multi-year sales training program for a leading accounting firm, and one of the partners we helped offers a good example of how we work.
This is a transcript of our first coaching session with him. Check it out.
“So I had a hedge fund manager who historically has not done any estate tax planning. Finally convinced him to do some estate tax planning. He took some of his GP interest and contributed to a – he was going to contribute them to a charitable leads annuity trust. So when I heard about him telling me what he wanted to do we were able to structure it a different way where we took all of his GP interest put it into one LLC treated it as a partnership. It made compliance easy he did not have all different returns that he was going to have to file now by himself so it saved him some money in that aspect but the big bang for the buck that he got was in addition to contributing which wasn’t a taxable gift because the annuities zero out the gift he was able to now give a discounted interest in all those entities in one entity have one valuation done and give it to his children uh who he historically had not given money to. So we were able to get about 2 million dollars out of his estate that’s probably going to grow to about 5 or 6 million dollars over the next 10 years so he was very happy about that. The cost that it cost him was relatively inexpensive.”
Let's break this down.
The first thing you may notice is all the jargon and industry-speak. It’s tempting to think jargon demonstrates subject matter expertise; usually it just dulls the message.
But jargon is only one of the most obvious patterns here. We use innovative metrics to track how clients improve. In this case study, we transcribed the text and broke it down looking at three primary indicators.
HE USES A LOT OF INDUSTRY SPEAK
HE DIDN'T ASK ONE QUESTION
We used kinesthetic learning and embodied cognition (learning by doing) to help break some of these bad habits that were getting in his way and holding him back from successfully bringing in new business.
This is the transcript after working with him.
Tax Principal: So how to you feel about death?
GK Coach: About death?
Tax Principal: About death.
GK Coach: I am not very good about death. I try not to think about it I guess.
Tax Principal: Most of our clients don’t either. One client I was able to, you know, get him to broach the subject do some estate planning. He never wanted to give any money to his kids, never wanted to get out of the estate, wasn’t worried that the government took half of it. How would you feel about it doing that? I wouldn’t like it.
GK Coach: Yeah I wouldn’t like it either.
Tax Principal: Once we started talking about it you know just a few little tweaks to what he wanted to do we were able to also get you know a future 5 or 6 million dollars, 5 or 6 million dollars to his kids with relatively no cost.
GK Coach: Wow how did you feel about that?
Tax Principal: I feel great about it; he was even better.