How do we raise our bar through collaboration? At a session of the ASPPA TPA Summit, panelists discussed collaboration, especially in light of the circumstances facing TPAs and other professionals in 2020.
Angie Grissom, owner and Chief Relationship Officer of The Rainmaker Companies, led a panel that also included William Presson, Executive Vice President, Sales and Consulting, at EGPS, Inc., and Tim Colvin, Regional Vice President of Capital Group/American Funds.
Raising the bar—or in this case, B.A.R.—means addressing considering and addressing behavior, accountability, and results, said Grissom.
“In your role, there’s something you can do to get better,” said Grissom, yet, she observed, “You have advice coming at you regarding what makes a great leader, communicator and business developer. It can be hard figure out what to do next,” she said. Grissom suggested that focusing on four areas can help:
- Consideration of “why”
- Awareness of market trends
- Commitment to collaboration
- Commitment to action
Why?
Why are some organizations able to inspire, while others are not? “The best organizations are the ones that focus on why. Why are we in business? It’s really important for you to examine your ‘why’ because it drives everything that you’re doing,” said Grissom. “It’s one of those things that we tend to overlook. But it’s important that we ask ourselves that question,” she added.
The Market
“We also overlook what selling is. Selling is helping,” Grissom said, adding, “We want to be sure we’re offering people solutions to problems they have. We want to be aware of market trends and how it affects our success.”
One of the trends now in the financial and accounting and professional services is the move from compliance to advisory services, said Grissom, noting that she is seeing clients coming with questions about a full situation, and not specific compliance issues. This doesn’t mean that there isn’t a need for compliance, she said; it means that “we’re starting to see clients just needing a little bit more.”
And demographics are a key consideration, Grissom suggested. “Who is the future buyer? How are the demographics changing? This cannot be ignored,” she said, adding, “Think younger. Minorities. Female. Are you prepared to serve them?”
Buyers are more knowledgeable in general now, another breakout group pointed out, and there is a “new ownership” among clients. “This creates impetus for you to be more proactive with clients,” said Grissom.
“People like to buy. They don’t like to be sold. It’s about the buy-in,” added Grissom. “We must align our process with the way our teams, our client teams and our centers of influence buy in to ideas,” she said.
Grissom also suggested paying attention to how one is perceived. “We need to think about how we want to be viewed. Do you want to be viewed as a necessary transaction like one at the Department of Motor Vehicles? You want to be viewed as someone who’s pleasant to work with—as a valued partner to your clients,” she said.
In addition, Grissom said, “Be aware of first impressions,” noting that first impressions often happen within seven seconds. “There is no time to be boring,” she said, suggesting using an interesting introduction that discusses the value of what you have to offer. “I want to know why I should know you,” she said.
Collaboration
There are many changes that are affecting how one collaborates with one’s team, Grissom said. For instance, she said, there are a lot of staff who want to be contractors. “They want the flexibility,” she explained.
Not only that, one of the breakout groups discussed the challenges of training new staff. “I think a lot of us in the industry are going to stay remote, and will have to use technology for training,” said its spokesman.
And supporting staff has changed as well, another group pointed out, and technology can assist in providing support despite remote work. For instance, they noted, employers can take steps to help employees stay healthy and send food to them thought Door Dash; Grissom added that other steps an employer can take include sending edible arrangements to employees in lieu of company picnics, holding virtual happy hours and sending office furniture to employees’ homes for their use while working remotely.
But changes to collaboration are not limited to staff; there also is change in how one relates to clients. And technology is a key part of those changes, Grissom suggested. “This year, those who were not comfortable with technology before got a crash course,” she said, adding, “This was truly a disruption.” Now, she observed, they ways clients communicate includes not only text messaging, but also use of such tools as Zoom and Microsoft Teams.
Commitment to Action
Competition for clients is becoming greater, Grissom cautioned. “Your best clients are your competitors’ best prospects. If that doesn’t light you on fire, I don’t know what will,” she said.
I believe you can build collaborative relationships in the midst of COVID-19,” said Grissom. “I believe people are more active on LinkedIn and social media right now than they ever have been,” she continued.
“Even before the pandemic, there were challenges,” she said. “This is our challenge and our opportunity,” she continued, “to communicate with clients and teams in a way that they’re comfortable with.”
“There is no excuse not to reach out to people where you can to build a collaborative opportunity,” said Grissom.
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