The Currency of Communication
How many times have you experienced utter disbelief, anger, confusion, resentment or even downright disgust…
All because of a breakdown in communication.
If we’re being honest, at one point or another we’ve all been on the giving or receiving end of phrases like…
“How could you NOT know that?” “We’ve already been over this!”
“All you had to do was tell me.” “This isn’t what I asked for.”
“I could’ve done something if you’d told me sooner!”
Ugh.
“The single biggest problem in communication is the illusion that it has taken place.” – George Bernard Shaw.
The truth is, communication breakdowns can be incredibly costly both personally and financially.
Most times, the biggest victims of these breakdowns – are trust and accountability.
Because without a clear understanding of expectations, roles, responsibilities, and goals…
We are in danger of eroding the very foundation upon which our relationships are built.
The truth is, effective communication is much more than just talking or writing.
It’s about creating an understanding and bridging the gap between accountability and trust.
Building Trust and Accountability
Every word you speak carries weight.
It shapes your destiny by making deposits into the vault of trust.
Remember, your words hold immense power to shape relationships and outcomes. And in the context of financial decision making, it’s important that you use your words wisely.
Picture this: every time you talk about your dreams, ambitions, or even fears, you’re depositing coins in a trust bank.
And when stakeholders – from family members to business partners and advisors are genuinely engaged, your road to prosperity isn’t just clearer. It’s shorter.
Step 7: The Currency of Communication
Struggles Faced in the Communication Process
Before we delve in, take a moment.
Think about the last time you faced a communication hiccup. Was it one of these common challenges?
- Not Enough Time: Ever felt like 24 hours aren’t enough? That’s a common struggle. Isn’t it ironic that even with all the apps, gadgets, and social media at our fingertips, somehow it seems even harder to make time for meaningful communication? When it comes to finance, that might make regular updates seem tedious.
- Showcasing Progress: The financial journey? It’s a rollercoaster. Ups, downs, loop-de-loops. When it comes to measuring success, you want to make sure everyone involved has a front-row seat. But how do you keep them in the loop while always moving forward? Showcasing that journey, especially the upward climb, can be tricky.
- Friction In The Feedback: Not all of it’s sweet. Sometimes it stings. But feedback, both positive and negative, is essential to growth. Finding ways to productively dissect the good and bad can be difficult, but in the end it’s worth it. So how do you make sure that everyone has a say without losing focus?
Let’s Tackle Your Burning Questions
1. Conveying Progress: How do I effectively communicate my progress to stakeholders?
Picture your journey as a continuously unfolding story. Every month, carve out an hour to chronicle successes, setbacks, and key learnings.
When you share this narrative, you not only inform but invite stakeholders to be part of your story’s next chapter.
2. Aligning Stakeholders: How do I ensure that everyone is aligned with my goals and strategy?
Want everyone on the same page? Transform your vision into a visual map or a physical board.
Position it where every stakeholder can engage with it daily—reminding them of the collective mission and how each contributes to the larger goal.
3. Handling Disagreements: How do I handle difficult situations where there is disagreement or conflict in communication?
We’ve all been there. All great relationships face challenges. But remember, the most successful financial moguls have one trait in common: they master the art of listening.
When disagreements arise, deploy your ears first and voice second, aiming for a resolution that’s beneficial for all.
Three Simple Steps to Increase The Currency of Your Communication
- Know Your Crowd: As every market has nuances, so does every audience. Tune into their rhythm and dance accordingly.
- Plan it Out: Just as a financial blueprint guides investments, sketch your communication roadmap and harmonize with stakeholders.
- Feedback is Gold: In both finance and dialogue, insights are the compass, guiding and refining your journey.
Your Next Step
Trust in this: every word, every update, every piece of feedback takes you closer to your goals. So, ready for a small pact?
Today, just today, drop an update to one stakeholder. Whether that be family members, business partners, advisors etc.
It’s a tiny step, sure, but it’s also a leap towards forging alliances that push you closer to success.
Stay tuned for my post. We’re tying everything together.
But until then, keep that trust bank full, and let’s accelerate this journey together.
Your Financial Ally,
Jonathan Peters
Senior Financial Advisor
