1. KBK’s Top 5 Tips for Better Business Financial Conversations
1. Know thy self.
We all have thoughts and beliefs about money and its purpose in the world called
money scripts. These scripts influence our perspective in any financial
conversation. Therefore, it is important to identify and understand your money
scripts as they will impact the direction of the discussion and/or your
expectations.
2. Know thy partner.
Your partner also has money scripts that influence his or her viewpoint of a
particular financial matter. Try to identify your partner’s money personality prior
to having a discussion. By doing so, you can tailor your talking points to factors
that will resonate with the other party.
3. Listen. Reflect. Listen.
Actively listening to your partner during a financial meeting is paramount. Put
your preconceived notions of what the outcome will be aside and really hear what
the person is saying. Next reflect what you heard to make sure you heard the
information correctly. Then listen some more.
4. Don’t play the blame game.
If you go into a money conversation with the goal of winning then you are bound
to lose. The goal of any financial conversation should be to gain an
understanding your partner’s viewpoint, to talk openly about any underlying
concerns (i.e. what does the money really represent) and to come to a
consensus that works for both parties. Note that a consensus can simply be
appreciating the other person’s perspective.
5. Practice, not perfection.
Everyone struggles when it comes to talking about money because it is an
emotional and often taboo subject. Give yourself and your partner credit for
having a financial dialogue. And remember, practice does make it easier!
Copyright 2010, Kathleen Burns Kingsbury KBKWealthconnection.com