People that try to “sell” portfolio management to executive leadership teams generally have a very tough time, and more often than not they don’t inspire the Executive team enough to get good traction. In my opinion, this is because the fundamental principle of ‘selling’ is just not suitable for this situation.
I for one don’t like being sold things, I like being shown things, I like being looked after as I’m being shown things too (flashback to that Pretty Woman scene with Richard Gere). I want to experience the value before I buy things, and only when I understand the value will I make up my own mind by asking myself “is this going to make my life better and is it value for money”?
When I am talking to Executive Boards about Portfolio Management I’m there as a “Showman” not a “Salesman”. This works wonderfully for two reasons, firstly I’m a total exhibitionist and secondly I’m not there to twist anyone’s arm into adopting portfolio management, I’m there to open the door to the portfolio management candy store and let Executives have a browse inside and maybe try before they buy.
There’s every kind of portfolio candy in the candy store, including veggie, vegan and low fat options too, which are all merchandised beautifully to ensure everyone understands exactly what is on offer.
Almost every Executive wants portfolio candy, and I will gladly help them get it. However, on the rare occasion they don’t I will gracefully show them the door – knowing that one day they will be back when realise they just can’t live without Portfolio Candy.
Who do you know that would find this blog useful?