Put me first
I was at a funeral for a friend the other day. He was a lot of fun to play golf with and just generally joke around with. He had lots of friends who came to the memorial service and will be missed by many.
His financial planner was one of the guys who memorialized him at the service and had a great learning lesson for all.
Dick had bought some stock from him in the mid 80’s, one of his first stock purchases as he was normally a bond investor. When the market crashed in 1987 Dick panicked and called the broker to sell the stock. The broker settled him down and encouraged him to ride it out which Dick eventually conceded was a good strategy. It eventually came back and he profited on the investment. Later Dick invited the broker to lunch and picked up the tab. He asked the broker why he thought he bought lunch as usually it would be the other way around. The answer: because you put my interests first in the stock question! The broker would have made a good commission selling the stock and Dick knew that. What a great learning situation for all of us!
When we put other people first, like clients, employers and friends, we build loyal relationships and improve our own success in the process!