Client First Impression Obsession

“I think it is particularly important that all of us take a little time and review some fundamentals: 1. We must continue doing our best to control expenses. Every dollar we save on expenses goes directly to the bottom line. That is what all of us should be concerned about, or you are at the wrong firm. Expenses should be watched at all times, but especially when business is good. 2. We must continue to be alert for scams and con artists. We must watch for unusual behavior by the people we work with. What is unusual behavior? Something subtle like somebody who drives a Rolls-Royce on a salary that can barely support roller skates. 3. Do the people you work with answer phone calls in a courteous manner? Are all phone calls returned? I couldn’t care less what a person does in his own home, but I am a nut about returning phone calls that are made to our personnel during the workday. I do not care if the caller is selling malaria. Calls must be returned! 4. Are the receptionists and telephone operators in all of our offices warm and courteous, and if they are, are they thanked appropriately? Remember that in most cases the first contact a client has with us is through a telephone operator or receptionist. 5. Do you and your associates leave word where you are at all times so that finding you is not like hunting for the Andrea Doria? 6. In September of 1983, a memo was distributed with a quote from the works of Haimchinkel Malintz Anaynikal. It is worth repeating. “A man will do well in commerce as long as he does not believe that his own body odor is perfume.” That still holds true. We must not get cocky or over-confident.”

“1. He is a strong believer that people who talk too much seem to have bad luck. 2. People who do not return phone calls promptly do not seem to make the grade at a highly profitable firm. 3. People who object to end runs will never make it in football, or with successful investment banking firms. Certain groups do need to observe a “chain of command” atmosphere, but highly motivated, intelligent people do not need this handcuff. 4. A firm that has enthusiastic receptionists and telephone operators starts off with a tremendous advantage over the dummies of the world. Keep in mind that the first impression people receive from Bear Stearns is with those associates. 5. If a business person has to ask his accounting department if he is making a profit, he will not be in business very long.”