I hope last week’s conversation about Sisyphus inspires you to think about how you could augment your BVFLS practice with a 1:many side hustle. Break out of the rut you’re in by relying less on pushing the 1:1 client service boulder up the hill just because everyone else does it.
On to this week. When I started doing BVFLS work back in the 90s, the body of knowledge was relatively small and the valuation mechanics were not that intricate. It was relatively easy to be a jack of all trades, master at all … an expert at all, if you will. And so we did it all. We need to stop doing that.
And if you’re new here, welcome aboard. This is what we do!
One thing I found last week: “Most People Use LinkedIn Wrong” from the blog of Chris Brogan.
Most of us play in the sandbox called LinkedIn. Chris offers some thoughts around two of LinkedIn’s primary functions: posting and connecting. Do you know what to post? Do you know who to connect with? You will after you read this.
With little effort, we can dash off a dozen reasons for getting a business valued. Here are the first 12 I thought of:
- Buy-Sell Agreements
- Charitable Contributions
- Employee Stock Ownership Plans
- Exit Planning
- Financial Reporting
- Gift and Estate Tax
- Litigation Support
- Marital Dissolution
- Merger & Acquisition
- S-Corporation Elections
But if you have a list of services like this in your marketing content, including your website, you are telegraphing to leads and prospects that you are a service provider, not an expert. Because, today, no one can be an expert in all of these services. We may be able to adequately perform several of these services, but we are not an expert in all of them. And our leads and prospects know that.
Why? Because here is what has changed in our BVFLS world/industry/profession since those Wild West days of the 90s:
- The number of appraisers (choices) is increasing.
- The body of knowledge has expanded 100x.
- The businesses we value are more complex.
- The audience we hope to serve is more educated.
- The triers of fact we must go up against are more sophisticated.
- The valuation mechanics are more intricate (anyone attending a recent Hitchner webinar can testify to this).
We are all BVFLS experts, but there are only a few experts within any given field of BVFLS services.
Today, I believe the best strategy is to keep the messaging of what we do much more targeted by focusing on the specific problems we love to solve and are best at solving – specifically for whom and in what situations – so leads and prospects can self-identify themselves as potential clients for us!
The goal is to attract our ideal clients (while repelling everyone else), start a conversation (literally) so both parties can assess if they are a good match for each other. Only then can we go into a deep dive and comprehensively explain the process of what we can do and reveal our expertise.
Listing a lot of BVFLS services pigeonholes us into the role of a service provider who sells commoditized products instead of an expert who can solve problems in a way that our leads and prospects might not even be aware of.
In real life
Do you want/need to move from service provider to expert? It’s a fundamental step that I work on with all of my coaching clients. Because when we elevate ourselves to expert status, we do the work we want, attract the clients we enjoy serving, and get paid what we are worth.
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