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In a previous article, I discussed the lessons that advisors could learn from the non-verbal behavior of Donald Trump. Today, I will examine his communication skills and ways advisors can benefit from emulating them. To be clear, I’m nottalking about the substance of Trump’s message, as a presidential candidate or otherwise, but the manner in which he presents it.
It’s not surprising that Trump is an excellent communicator. He honed these skills as host of the popular Apprentice television shows over an 11-year period. Here’s a summary of why he is so effective.
He doesn’t use a teleprompter
Trump is unscripted. He speaks with no notes and takes pride in the fact that he does not use a teleprompter. He has derided “traditional politicians” who use this tool and give the same speech every day.
His demeanor is informal. His tone is conversational. Regardless of the size of the crowd, he intersperses his remarks with rhetorical questions and waits for an audience reaction.
His style is in sharp contrast to many politicians. They tend to be carefully scripted, with “talking points” that are polished by highly paid consultants. They strive to demonstrate an encyclopedic knowledge of their subject matter, often with mind-numbing results.
Instead of conversing with their audience, they lecture them.
My experience
When I started making television appearances, I was terrified. I prepared for hours and tried to anticipate every question. I rehearsed my responses. I recall vividly an experience I had on a Fox morning news program. The anchors were bantering with each other as I entered the set. One of them turned to me and asked this question on air: “Hey Dan. What do you have?”
I was like a deer caught in the headlights. I bumbled my way through an answer to a question I never could have anticipated. The interview went downhill from there.
I learned a valuable lesson that day. I noted how comfortable the anchors were in front of the camera and how stressed I was by comparison. So I came up with a simple solution. I decided that, in every interview, I would emulate the demeanor of the interviewer. I would be as conversational, relatable and comfortable as they were.
It proved to be easier than I thought, because that is how people relate to each other in their everyday lives. It also markedly reduced my anxiety. Instead of trying to live up to my image of how one should act on television, I just had to be myself.
He dumbs-down complex subjects
Immigration policy and the proposed nuclear agreement with Iran are very complex subjects. They are also hot-button issues for voters.
Whatever you may think of it, Trump’s solution to illegal immigration is remarkably simple:
- He would build a wall.
- He would get Mexico to pay for the wall.
- He would deport illegal aliens.
- He would end birthright citizenship.
However, his plan is replete with flawed assumptions, glosses over daunting practical obstacles and rests on a dubious legal premise.
The Iran agreement is similarly intricate. Trump has another “easy solution.” He says he would “renegotiate” the agreement and, presumably, obtain better terms. He believes the agreement was “incompetently negotiated” by a group of “very stupid leaders.”
Once again his assumptions are questionable. His reference to “stupid leaders” paints with too broad a brush. The proposed agreement is not just between the United States and Iran. Britain, China, France, Russia, Germany and the European Union are co-signatories. The U.N. Security Council voted 15-0 in favor of the agreement.
Nevertheless, the benefit of “dumbing-down” the issues and proposing simple solutions is irrefutable. Trump is surging in the polls and leads the Republican field by a wide margin.
How you can use these lessons
If you substitute “whiteboard” and “PowerPoint” for “teleprompter,” you will understand how using these presentation aids will impede communication. Instead, talk to your prospects in an easy, relatable and conversational tone.
Investing is also a complicated subject. Consider starting with some broad generalizations. It’s easy to understand that most domestic and international stock funds underperform their benchmarks. Trying to explain t-stats, alpha and beta is far more difficult.
In a recent talk to investors, I made the mistake of getting too detailed, thus obscuring my message. After my talk, a member of the audience asked me to explain what an index fund was and how it differed from an actively managed fund.
Don’t assume prospects have any knowledge of the basic principles of investing or that they are interested in drilling down on this subject unless they tell you otherwise.
Dan Solin is the director of investor advocacy for the BAM Alliance and a wealth advisor with Buckingham. He is a New York Times best-selling author of the Smartest series of books. His latest book is The Smartest Sales Book You’ll Ever Read. He limits his sales coaching practice to advisory firms that advocate evidence-based investing.
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