This Father’s Day 2014, I am reminded of the first business lesson that my Dad taught me. This lesson is the main reason that I have survived over 30 years in the investment advice business in Minnesota.
My Dad was a salesman all his life. So was his father. In fact, my Dad’s grandfather began selling cars in Northeastern Iowa when cars were shipped to automobile dealerships in boxes and had to be assembled. In those days people would trade in a horse to buy their first car.
The greatest business lesson that my Dad taught me was to always tell the truth to everyone that you come into contact with in your business career.
My Dad taught me that everyone you sell your product is spending their hard earned money. Customers need a product that will help them. Not every person in the world is blessed with the ability to manage their money wisely. Most people need help making financial decisions in their best interest.
I am thinking of my Dad a lot this week. His business lesson has helped many of my individual company 401(k) advice clients make better investment management decisions.
My investment advice business has grown over the years. I have been able to both save for my retirement and fund my kid’s college education needs. It all started with my Dad’s first business lesson to me.
My Dad’s business lesson has left everyone my business has touched better off financially.
In the automobile and investment advice business, the truth is sometimes hard to find. Both industries are guilty of making bold and outrageous claims. These industries also rely on the fact that customers don’t know much about automobile pricing and investment management strategies.
My Dad taught me that customers need to hear the truth from another human being. I have never, ever forgotten that my Dad taught me to tell the truth to every customer that I deal with.
Happy Father’s Day, Dad. I hope that you catch a lot of walleyes at the cabin next week. I will take the left over fillets off your hands when you get tired of eating them.
I want you to know how much your lesson about telling the truth has meant to me, your grandchildren, and to my clients.
Ric Lager
Lager & Company, Inc.
