26 January 2022
This week we’re talking about one of the most important and effective communication media known to humankind – stories! Our guest Stacy Havener has worked with boutique fund managers helping them tell their stories in more compelling ways and in the process has helped raise billions of dollars in assets for up-and-coming managers. Stacy walks us through key components of a good story, what people in finance often miss and how to help tell your story authentically. If you have any sales or marketing component to your role, you are going to want to listen to this!
- The role that well-crafted storytelling plays in connecting with people and in making an effective sale
- The common pitfalls that those in the asset management / finance industry fall into
- Key components of a good business story
- A startpoint
- Some kind of challenge
- A resolution
Tips for crafting a successful story and helping others to. These include: always making the person on the other end of your story the hero, don’t fall into the trap of making yourself the hero. Also be aware of where your audience is on the adoption curve, and listen to their story.
The best ever voicemail, and email subject lines (and why such seemingly simple things actually matter) key tip: be a person, write how you’d talk!
The importance of knowing where your prospect is on the Roger’s adoption curve. Very different approach to appealing to early adopters.
- Owning up to your quirks and differences in light of telling your story well – don’t be a wandering generality, be a person / be comfortable with some people rejecting you. People can’t accept you unless they can also reject you.
What's one thing to take-away?
“Culture eats sharpe ratio for breakfast” (John Bowman). Even though you feel like quantitative is king, qualitative is queen and you ignore it at your peril. But show me don’t tell me, make it real for me, even more important if can’t meet in person.
The most underappreciated thing about investing
The people. That gets lost the bigger the firm gets as it becomes a bigger business risk to have your people be a big part of the story. It’s impossible to unpack what’s actually going on in decision making, but are the reasons really more about people than we all think?
- Daniel Crosby's podcast for all things 'behavioural'
- Robert Cialdini's podcast for all things on 'influence'
- 'Building a story brand' by Donald Miller
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Each LCP investment uncut podcast is for information and marketing purposes only and does not constitute any form of investment or financial advice or a financial promotion (under the Financial Services and Markets Act 2000). All views expressed by the podcast hosts and guests are purely their own opinions and do not represent those of LCP, its clients or affiliates. Our podcast listeners should always seek independent financial or legal advice before making any financial or investment decisions. Please refer to the Legal Notices section on the LCP website for further information.