“We’ve got to sell portfolio management to the board” … if I had a quid for every time I’ve heard that over the years I wouldn’t be spending my time writing this blog that’s for sure! …actually I probably would because I enjoy it, but you know what I mean.
It’s the word ‘sell’ that doesn’t sit well with me. This is probably because I’m the worlds worst salesman and makes me think of someone trying to sell me a Ford Mondeo!
Actually, the more I think about this the more I realise that my views on buying Portfolio Management have quite a few similarities to buying a Porsche 911 Turbo and not a Ford Mondeo. What I mean by that is, when you buy a 911 Turbo you are not sold it, you decide to buy it and you do that based on a few heartfelt experiences.
1) You hear about it or read about it and it excites you
2) You see it for the first time in the flesh and it makes you tingle
3) You experience it physically and you fall in love
A few more positive similarities include the following. Using portfolio management will get your organization from A to B faster than anything else, portfolio management has an automatic stabilization system to help you from spinning off the bends and the tiptronic gearbox will help you maneuver with much less effort.
There is one big difference, your investment in portfolio management will give you direct financial benefits in the form of cost savings. However your investment in a 911 Turbo is guaranteed to have immediate financial dis-benefits in the form of heartbreaking depreciation and gut wrenching maintenance costs.
The point of this potentially over analogised blog is, you shouldn’t have to ‘sell’ portfolio management to Executives because they are generally very clever people. So if you make sure you present portfolio management with a 911 Turbo philosophy in mind, you will have no problems. This means you facilitate the transaction by way of making sure communication stimulates, that what people see makes them tingle and that all subsequent experiences makes them fall in love.
Don’t text and drive!