The Trusted Advisor PDF
Preview The Trusted Advisor
“The Trusted Advisor offers an invaluable road map to all those who seek to develop truly special relationships with their clients.” —Carl Stern, CEO, Boston Consulting Group “This is a major contribution to the consulting profession, a richly illustrated and humanistic look at what differentiates a truly great advisor from a good one. This book will be valuable reading for the novice and experienced professional alike.” —John Lynch, Chairman and CEO, Towers Perrin “Our company’s development has been guided by and benefited from The Trusted Advisor concepts—and they work!” —George Colony, Chairman and CEO, Forrester Research “This book provides valuable insight into how one can become and, equally important, remain a trusted advisor, which is essential to success in a wide variety of professions.” —Howard G. Paster, Chairman and CEO, Hill and Knowlton “This book is engaging, enjoyable and absolutely on target. It is packed with truth. The Trusted Advisor will guide success, not just in the advisory professions but in leadership and life as well.” —William F. Stasior, Senior Chairman and Former CEO, Booz·Allen & Hamilton “The Trusted Advisor will make any advisor more effective in winning and servicing clients’ business. It is a must-read for anyone working in professional service firms.” —Thomas W. Watson, Chief Growth Officer, Omnicom Group “The Trusted Advisor is right on the mark. Required reading for all professionals.” —Hobson Brown, Jr., President and CEO, Russell Reynolds Associates “The Trusted Advisor will help advisors everywhere learn how to take their client relationships to a higher level.” —Dale Gifford, Chief Executive, Hewitt Associates “The Trusted Advisor gets to the heart and soul of the advice business. This pathbreaking book is a must read.” —Professor Charles Fombrun, Leonard N. Stern School of Business, New York University “The Trusted Advisor is a masterful work with valuable examples, constructs, and recommendations. The authors should be lauded for sharing their wealth of experience and advice on this critical topic.” —David C. Munn, President and CEO, Information Technology Services Marketing Association THE FREE PRESS A Division of Simon & Schuster, Inc. 1230 Avenue of the Americas New York, NY 10020 www.SimonandSchuster.com Visit us on the World Wide Web: http://www.SimonandSchuster.com Copyright © 2000 by David H. Maister, Charles H. Green, and Robert M. Galford All rights reserved, including the right of reproduction in whole or in part in any form. THE FREE PRESS and colophon are trademarks of Simon & Schuster Inc. ISBN-10: 0-7432-0544-8 eISBN-13: 978-0-7432-0544-3 To Kathy, Renée, Ashley, and Marshall, Susan, Katy, and Luke CONTENTS Introduction How to Use This Book PART ONE: PERSPECTIVES ON TRUST 1 A Sneak Preview What would be the benefits if your clients trusted you more? What are the primary characteristics of a trusted advisor? 2 What Is a Trusted Advisor? What do great trusted advisors all seem to do? 3 Earning Trust What are the dynamics of trusting and being trusted? 4 How to Give Advice How do you ensure your advice is listened to? 5 The Rules of Romance: Relationship Building What are the principles of building strong relationships? 6 The Importance of Mindsets What attitudes must you have to be effective? 7 Sincerity or Technique? Do you really have to care for those you advise? PART TWO: THE STRUCTURE OF TRUST BUILDING 8 The Trust Equation What are the four key components that determine the extent of trust? 9 The Development of Trust What are the five stages of trust-building? 10 Engagement How do you get clients to initiate discussions with you? 11 The Art of Listening How can you improve your listening skills? 12 Framing the Issue How can you help clients look at their issues in a fresh way? 13 Envisioning an Alternate Reality How can you help clients clarify what they’re really after? 14 Commitment How do you ensure clients are willing to do what it takes to solve heir problems? PART THREE: PUTTING TRUST TO WORK 15 What’s So Hard About All This? Why are truly trust-based relationships so scarce? 16 Differing Client Types How do you deal with clients of differing types? 17 The Lieutenant Columbo Approach What can we learn from an unorthodox winner? 18 The Role of Trust in Getting Hired How do you create trust at the outset of a relationship? 19 Building Trust on the Current Assignment How can you conduct your assignment in a way that adds to trust? 20 Re-earning Trust Away from the Current Assignment How can you build trust when you’re not working on an assignment? 21 The Case of Cross-Selling Why is cross-selling so hard, and what can be done about it?
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