We’re Not Talking

Six years ago, a mate of mine bought an accounting firm up north and it’s been going gangbusters ever since.

And about three years after he took control, he had to find some larger office space to make room for the extra staff.

Everyone got a new desk except the receptionist. She was made redundant.

It wasn’t her fault. The firm’s clients gradually stopped making phone calls because they preferred sending emails directly to their accountant instead of waiting on hold.

But that’s the world we live in now. Asynchronous communication.

We can send emails in our ‘own’ time and the recipient can reply in their ‘own’ time.

Last week I caught-up with a good friend of mine for lunch whose eldest son is about to start a graduate program with an engineering firm.

(Gee’s you know you’re getting old when your friends kids start graduating from uni!)

Anyway, she asked what advice I would give her son.

“Know how to communicate.” I said.

Specifically, know the difference between a memo and a story and when to use them.

A memo is like a newspaper article which delivers the punchline in the first paragraph.

Conversely, a story is like a magazine article which delivers the punchline in the final paragraph.

A good business memo should be written like a newspaper article.

Let me give you an example of the stuff I see.

Whenever I get an email from a client, they usually jump straight to the point.

Hi Adam,

I’ve been thinking about doing X,Y,Z.

Here’s why.

What do you reckon?

Bang! I get the punchline up front. Love that.

And then I’ll get an email from some suit in town looking to flog me some fancy superfund or some other glossy brochure…

Hi Adam,

I hope you’re enjoying this warm weather. Hey, did you see the tennis the other night? How good was Ash Barty! Such an inspiration!

As you know, the findings of the Royal Commission were handed down about three years ago and we’re still feeling the ramifications to this day from clients and advisers alike.

And during this time, we’ve also been listening to what others have been saying in the investment space and…blah, blah, blah.

DELETE.

In the age of email, it’s so easy for the message to get lost in the noise.

If you want your child to be a good communicator in the workplace, ask them if they know the difference between a memo and a story.

There’s a place for both, they just need to know when to use them.

End of story.

Have a great weekend!

Adam