Four Types of Clients


I can’t be sure who it was who first came up with this list of personality types, it might have been Aristotle describing the way certain students approach learning, it might have been Socrates, and it might just have been the guy who sells me my  gas every week.  It doesn’t matter whoever it was.  In reflecting on the way certain clients have been interacting with me this week I thought it might be fun to talk about each of these character types and how I approach dealing with them in my financial practice.

#1 – He who knows not, and knows not, that he knows not.

Otherwise known as the arrogant fool.

Another way to say it is that we don’t know what we don’t know and going through life convinced that we know everything about everything is a recipe for disaster.  The great musician Louis Armstrong once said;

“There are some people that if they don’t know, and don’t know that they don’t know, you can’t tell them..”

This is the definition of arrogant ignorance.  These people will never be your client because they believe they are smarter than you.  Indeed they believe they are smarter than everyone they meet.  The only thing to do when you encounter someone like that is smile politely and move on.

#2 – He who knows not and knows that he knows not.

Otherwise known as the simpleton.

These are some of my favorite kinds of people to have as clients.  People who know that they don’t know things are teachable.  They of course must be willing to learn but the real danger here is that they may become paralyzed if you give them too much new information all at once.

The key with these kinds of clients is to take it slow, give them only as much information as they can digest.  If you go too fast you run the risk of causing “paralysis by analysis” or you end up with a client who feels like they were bullied into making a purchase that they didn’t fully understand.  Both are undesirable outcomes that are to be avoided at all costs.

#3 – He who knows and knows not that he knows.

Otherwise known as the unconscious drifter.

These are the people that, if they become interested in something realize that they had the necessary information all along and make decisions quickly.  The problem is they tend to be asleep to both their own needs and their own knowledge.

Waking up an unconscious drifter is a delicate business.  At first glance they may appear to be simpletons but if you treat them as such they may feel insulted.  The key to dealing with these people is to ask lots of questions designed to probe their knowledge.  Once you’ve determined that they do know more than they seem to be letting on you can switch tracks and begin asking a different sort of question.  Questions designed to get them to see that they already know what they need and how to get it.  Once they see their need they tend to buy quickly and confidently.

#4 – He who knows and knows that he knows.

Otherwise known as the wise one.  Unless you’re selling commodities, these people won’t likely be your clients either.  They already know their needs and they bought a long time ago.  It’s still important to get to know these people.  They tend to be leaders, and can be a great source of knowledge, guidance and influence.  They are also a great source of referrals and if their circumstances ever change, they are the first to know when they do need you.

Watch out for these four types of people.  Don’t waste your time with the arrogant fools but carefully cultivate unique relationships with everyone else.  Relationships with these types of people eventually pay off.

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