I understand that people dabble in things as a hobby or because they found something they like or enjoy. Maybe you even try to make a little money off of it. I get that. There are people that take it a step farther though. For whatever reason, they say they do other things and provide other services that they are really just dabbling in. Is this the best thing for their clients? Can you admit when you are not an expert in something?
I’m in the financial industry. I know the ins and outs of life and disability better than anyone. If you have a question, I will find you an answer. If you want life or disability insurance, I will get you the best coverage for your situation. When it comes to investments, I gave up doing those because I was dabbling in them. I didn’t have the time to pretend I knew as much or more about investments as professional money managers. If I want to help my clients the best way possible and they have a question on investments, I introduce them to the best professionals I know.
What does this cost me? Control, I work with people, I don’t control them. Opportunity, to me this creates more opportunity. Simplicity, maybe, I believe the best things aren’t always the most simple. Money, definitely not. Most people have this illusion that if they send money out the door it’s lost and gone forever. I think that its’ karma, giver’s gain or whatever term you want to use. If you do the best thing for people they will appreciate and reciprocate.
Business might be down for people right now. I get that. Maybe you think dabbling in a few related things might be a way to make some more money. Is this a good long term decision? Is not doing the best thing for your clients good for business?
At what point does dabbling become detrimental to your real expertise?
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{ 4 comments… read them below or add one }
You’re right, CJ! It’s like we’re sharing a brain, today. You may remember that “Dabbling” & “Pretending” was my big objection to that financial manager who was pretending that he was referral group guy. Eventually, the group failed and now he’s probably off pretending he’s something else. With regard to control, the more you refer, the more control you have over the person that you’re referring to. They bend over backwards to make your friends happy because they want more referrals. I would also suggest that after you make a referral, you follow up with both the referred person and the recipient to get their take on what happened. Don’t be surprised if you get a “Thank you.” from both and an IOU from both. Remember that RESOURCE and RE ferral SOURCE begin and end the same way.
BIG MISTAKE!´s last blog ..BIG MISTAKE!
Thanks for the comment. You make a great point on the follow up. I don’t think most people go far enough with that, myself included sometimes. The follow up in and of itself is a big differentiator. Do you want to be different and remember? Then follow up because most people never will.
Hey CJ,
I was just catching up on twitter, checking out latest followers, etc. and followed the link to this site. You make a great point about dabbling. It happens all the time in my industry when b2c practitioners try to handle b2b transactions. Because they don’t understand what’s involved, they not only do the client a disservice, they actually end up costing themselves income that could have been generated by staying focused on their own core competency. Karma is definitely the way to go, because it’s a really small world. I think 6 degrees of separation may have shrunk to 3 degrees or less today due to Social Media. “Big Mistake” is a great example. When I was reading his comment, I had no idea who he was until I clicked on the link. Turns out he’s someone that I’ve met recently and look forward to getting to know better. And I know he’s a good karma guy. As someone else commented on your blog, I love your title/subtitle and as you can imagine, I can relate. Cheers for a Great 2010!
@Mike
Thanks for reading and commenting. I like your point about the degrees of separation. As everything becomes closer and more intertwined it because easier to pretend but can also make it more rewarding to specialize. He is a great guy to network with and get to know. Let me know if I can help. You have a great 2010 as well.
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