What do investors want?

When you feel ill and go to a doctor, what do you want?  The doctor sees you as a patient whose ills he has to diagnose and treat.  What you want is to feel better.  When you go to the hardware store for a drill bit, what do you really want?  The answer may not be obvious.

A guy buys a new refrigerator with an icemaker. The icemaker is new for him, so he has to hook up a water line. He figures he will drill a hole in the water line and connect the tube to the fridge. So he goes to the hardware store looking for the right size drill bit.

When he gets to the store and asks for what bit size would be right for the tube he is connecting, the clerk asks him what he is trying to accomplish. Once he understands the needs, he recommends a saddle valve – a device that combines making the hole and installing the valve. You clamp it on the pipe, turn the screw, and it bores into the pipe itself. No drill needed.

What the clerk recognized was that the customer did not need a bit, he needed a hole.

When you invest your money, what do you really want?  Money or the things money can do for you? A good investment advisor will want to know.

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