The Mooch
You can call Anthony Scaramucci a lot of things but one thing you can’t deny him is that he is persistent. He was fired twice from Goldman and the offer to join the
Trump team didn’t come as quickly as he told his friends, the press and the Ethics Office. Since we published this blog Mr. Scaramucci has been fired again. His persistence will be tested again. Persistence might be a good thing for
an entrepreneur or a retail stockbroker but is it what we need in public
service? Often times what makes a
businessperson successful can grate on you and have unintended consequences. Watching Mooch reminds me of how hard it can be to
transition from one environment to a radically different environment. Does the Wall Street or business skill
set travel? I have watched it
create more problems that it solves in my field of independent wealth management. Hopefully Mooch can learn from others
successes and failures.
Don’t Accept Failure
Successful business professionals differentiate themselves by
continuing to drive ahead when they don’t initially get the answer they
want. Retail brokers are told to
ask for the order three times. Some business
people resort to the legal system and hope a judge gives them the answer
they desire. Mooch and our
president have a pretty good track record employing these strategies making it difficult to change. When I changed from a Wall Street job to a fiduciary job as
an independent advisor I had trouble changing too. However, after I was told numerous times after failed
independent business proposals that I sounded too salesy I took a step back and
adjusted my approach. Easier said
than done.
Money and Taxes
People that have made a lot of money seem to always be searching for ways to decrease their tax burden. Most of the people in the Trump organization have made
significant money in the private sector.
Our tax laws can minimize the pain associated with the divestitures
required by the ethics office to serve in our government. Mooch has two problems. One is he is not the richest guy on
“the team” and two, the timing of his appointment and the sale of his private
assets don’t match. The recent public disclosure that his stake in SkyBridge
was not as large as the press had reported was embarrassing and seems to have caused
the New Yorker tirade against Priebus and Bannon. Remember the Mark Twain quote “never let the
truth get in the way of a good story”.
Matching and Mirroring
Mooch is a good salesperson and he seems to employ an old
sales technique called matching and mirroring. The approach works well when you are trying to curry favor
with your prospective client or your boss. PLEASE LISTEN TO THIS ONE:) The Mooch Smooch shows he has this technique down cold. I’m guilty here too and learned the
technique at Tony Robbins sales training early in my sales career.
When we transition from business into public service or the fiduciary
world we are concerned that we might lose our edge. Who is a role model politician and who is the ideal independent
advisor we can follow? I’ll go
with the example that John McCain gave us last week. There are numerous role models for independent advisors and each of us needs to find one. If we are concerned about
losing our edge we might just find our heart in the process. Looks like a good trade for us and for our country.
Why Mooch lost his cool
ReplyDeletehttp://www.huffingtonpost.com/entry/anthony-scaramucci-what-went-wrong_us_59811cc9e4b02b36343ec1da?ncid=engmodushpmg00000004
The Mooch on Colbert
ReplyDeletehttp://www.huffingtonpost.com/entry/colbert-anthony-scaramucci-interview-question_us_5992ad48e4b0909642998948?ncid=APPLENEWS00001