Seemingly all day, we communicate with our world via text, chat and DM. We are largely dependent upon the instant and informal “ping” as a means to not necessarily disrupt the other party’s day. Our message sits there, like a digital Post-It expecting some sort of retort or emoji – or be ignored. Still, this impersonal mode does get the job done for sharing random thoughts, logistics, or that latest funny crypto meme with the dog head superimposed on baby Simba. The other end of the connection spectrum has nearly worn out its welcome: virtual platforms. In a span of a few months from late 2019 into the WFH era, we warped from “this must be an important meeting, there is a video link” to “sorry everyone, my camera’s broken.” Don’t worry, we all know – and get it.
Insert here an invitation to return to our roots with the old, reliable phone call.
One of my favorite axioms (and there are many) from trading on the NYSE was “pick up the phone, get an order.” By barking this directive weekly – and at times daily – my mentor Jon Acquafredda would stimulate the desk to get on the horn and converse in real time with clients.
So simple. So analog. So effective.
Back then, we certainly leveraged instant messaging for blasting out headlines and order management. However, those chats were sorely ineffective at getting the attention of and engaging with the intended party. Picking up the phone [for you whippersnappers that means saying “Siri call Petra”] would cause the light on the client end to blink, and, they would pick up. Some clients expected breaking news, or a hot tip. Others were hopeful for an epic tale from the prior night’s “client dinner.” Just about all of them were simply trained to pick up and listen. Regardless, once granted a mini-audition for their attention, we had to nail it. If we did, into the conversation we went. That’s where the magic happened. For one, we might present an idea they were bullish on, and accordingly, be given an order to trade. Other times, clients realized they were quite busy and we now presented an outsourced trading option to offload a few order tickets. Ka-ching! My favorite was when polite clients felt obligated to chat but then wished they had not engaged. That is when I got an order simply to get me off the phone. This habitual persistence was and still is necessary in transactional businesses. Same strategy is valid in the relationship game.
Il Punto: When slow or uninspired, feeling unproductive or detached, or looking for some new ideas and stimulus – pick up the phone, get an order. You will be surprised how easy and effective it still is.
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