• Skip to primary navigation
  • Skip to content
  • Skip to primary sidebar

Wealth Pilgrim

No Money Worries. No Matter What.

Neal Frankle featured in
  • Home
  • Life Insurance
  • Investing
    • Build Strong Investment Building Blocks To Avoid Going Broke In Retirement
    • Systematic Mutual Fund and ETF Investing
    • Stock Market Investing Guide
    • Choosing the Right Investment Brokerage Guide
    • How Bonds Work Guide
    • How Banks Really Work Guide
    • Annuities – What You Need To Know Before You Invest
    • A Beginners Guide To Buying Individual Stocks
    • Create A Pool Of Great Mutual Funds and ETFs To Pick From To Secure Your Retirement
    • ETF and Index Fund Investment Guide
  • Earn More
  • Credit Cards
    • Travel
    • Airline
    • Hotel
    • Cash Back
    • 0% APR
    • Rewards
    • Balance Transfer
    • Small Business
    • No Annual Fee
    • Student
    • Secured
  • Retirement Planning
    • Retirement Guide
  • Ask Neal a Question
  • Reviews
    • Upgrade Personal Loans Review
    • Lending Club Review
    • Prosper Review
    • Ally Invest TradeKing Review
    • CIT Bank Review
    • LegalZoom Review
    • Lexington Law Review
    • Airbnb Host Review
    • Should You Drive For Uber?
  • Tax
  • Courses
    • Raise Your Credit Score So You Can Buy a House – Free Video Course

How To Listen And Speak About Money – The Key To Your Success?

by Neal Frankle, CFP ®, The article represents the author's opinion. This post may contain affiliate links. Please read our disclosures for more info.

Share
Share
Tweet
Pin

How you think about money is responsible for 95% of where you are in your financial life in my experience. You don’t have to worry about that too much. I already know finances are important to you. If not, you wouldn’t be reading this post. That is a fantastic place to start from and it means you have a leg up on most of the people around you. Cool Beans.

Now you can build on that strong foundation. Use the idea of “communicating opportunity” when you listen and speak about money. If you do, it will accelerate your financial results and save a ton of time.

What does “communicating opportunity” mean?

The best way to explain this is by example. Let’s say you want to earn more money at work. If you talk to your boss about what you need her defense goes up and your chances of getting that raise drop like a steel office desk. But if you talk about the opportunity your company has to solidify its relationship with a prized employee and how that pays off for the organization, you have a better shot of getting the boss’ attention.

Let’s say your glasses broke and you need to replace them pronto. You find a pair you like but they are expensive and you have no idea if they are worth it or not. Tell the seller your concerns but don’t stop there.

Tell the merchant that you are hoping for a great deal. Explain that you have an entire family that needs glasses and you are looking for a long-term relationship. Tell them you will have the glasses appraised for quality and value after the sale. If it turns out that the merchant provided outstanding value you will be a great repeat customer and you will send an email to all your friends about the great experience and endorse the shop.

This is an opportunity for the store owner that far exceeds the profit on one particular sale. A smart entrepreneur will jump at the chance of making this a great deal for you. Why? Because you communicated opportunity.

You can also use this powerful concept when you are trying to decide to do business with someone or not. Is someone trying to pitch you based on their personality or play to your fears? Or instead, are they being honest and really presenting an opportunity that you value?

My wife and I were thinking of buying property recently. We passed by a realtor’s office and inquired about one of the listings. Rather than ask us any questions about our needs (so he could figure what opportunity we might be looking for) he launched in a not-so-slick sales pitch. We turned tail and exited as soon as we could.

The only way you can communicate opportunity is to ask questions first. And the only way someone else can provide opportunity to you is if they first get to know what your needs are.

It’s a simple concept yet profound and potent. If you are dealing with a person who really doesn’t take the time to find out what opportunity is for you, don’t waste your time with them. They aren’t going to be a good partner.

And if you want to do business with someone, find out what opportunity is for them and tailor your presentation around that.
It goes without saying that this only works if you are honest. Never fabricate opportunity because people aren’t stupid and it’s bad karma. And just because there is opportunity doesn’t mean the deal is always a good one. Consider the risks as well and talk about them even if it’s detrimental to your interests.

But by dealing honestly with others and pointing out what’s in it for them first, you have a higher chance of getting more of what you want and dealing with cool people too.

Do you bend over backwards to find opportunity for people you do business with? Are you repelled by sales people who don’t try to find a value for you? What’s been your experience?

Share
Share
Tweet
Pin

Looking for even more helpful financial investment info?

Subscribe to the Wealth Pilgrim VIP Newsletter!

You will receive bi-weekly updates including helpful articles and exclusive invitations to live Webinars!

Reader Interactions

User Generated Content (UGC) Disclosure: Please note that the opinions of the commenters are not necessarily the opinions of this site.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Are You Human? * Time limit is exhausted. Please reload CAPTCHA.

Primary Sidebar

Who is Neal Frankle

Neal Frankle

I'm a Certified Financial Planner™ with more than 25 years of experience. I feel very blessed and hope to share my personal financial experience and professional wisdom with readers of WealthPilgrim.
Read More »

Stay Connected

FacebookTwitterYouTubeRSS

More Categories

Banking
Career Development
College Funding
Credit Cards
Credit Score Fixes
Money and Marriage
Debt Relief
Estate Protection
Property Investment Loans
Small Business Strategies
Spend Less Money

Disclaimer

Wealth Pilgrim is not responsible for and does not endorse any advertising, products or resource available from advertisements on this website. Wealth Pilgrim receives compensation from Google for advertising space on this website, but does not control the advertising selection or content. Please do the appropriate research before participating in any third party offers. The information contained in WealthPilgrim.com is for general information or entertainment purposes only and does not constitute professional financial advice. Please contact an independent financial professional for advice regarding your specific situation. Wealth Pilgrim does not provide investment advisory services and is not a registered investment adviser. Neal may provide advisory services through Wealth Resources Group, a registered investment adviser. Wealth Pilgrim and Wealth Resources Group are affiliated companies. In accordance with FTC guidelines, we state that we have a financial relationship with some of the companies mentioned in this website. This may include receiving payments,access to free products and services for product and service reviews and giveaways. Any references to third party products, rates, or websites are subject to change without notice. We do our best to maintain current information, but due to the rapidly changing environment, some information may have changed since it was published. Please do the appropriate research before participating in any third party offers.


About · Contact · Disclaimer & Privacy policy

Copyright © Wealth Pilgrim 2019 All Rights Reserved