Many years ago I saw a sign on a barber shop near the Naval Base in Newport, Rhode Island that said “We fix military haircuts.” I thought it was amusing but immediately put it out of my mind. At least I did until a few years later when I received my first military haircut at Naval Officer Indoctrination School, also in Newport. Then that sign came back to me and I truly understood it then—not to mention needed their services!
The point of this true story is not about haircuts, but rather about some basic business marketing principles, finding a niche from the business owner’s standpoint, and from the customer’s standpoint, the importance of timing, need, and availability of a needed product or service.
When I first saw that haircut sign I found it amusing but it lacked any relevance to my situation. But the barber shop owner clearly knew there was a demand for his services from other Navy personnel in the area. A few years later I learned that lesson and was glad that there was an available service to fix my own military haircut! When I had the need I used the service, but not before then.
How does this apply to my current fee-only financial planning business? I have no doubt there are many folks in the Coastal Delaware area who would benefit from our services but they either don’t think they would, or just don’t appreciate what we can do for them at this time. But if and when something in their lives creates a need for what we do – and hopefully it is not too late to take appropriate action -- we have to be accessible and available to them and clearly demonstrate that we can help them with their needs. As in many things in life, timing is critical on seeking professional advice and assistance. It is far better to prevent an issue than try to fix one after the fact. I know I can’t fix their haircut but we certainly can help in other ways—when needed.
Find out how Safe Harbor Financial Advisors can help you by visiting us at www.SafeHarbor.financial or call us at 302-313-6644 or email us at Info@SafeHarborFinancialAdvisors.com.
