Good news! You’re your own boss. Isn’t it swell? You get paid by how much you work – how many great ideas you come up with. The more you work, the more money you make. No one is telling you what to do. No one is shooting down your ideas. You can do whatever you want. You can realize all your great ideas.
Bad news! You’re your own boss. Isn’t it hell? You get paid by how much you work. No one is telling what to do. You got more great ideas then you know what to do with, so, paralyzed by indecision, you do nothing. Or you start doing something that could have a high payoff, but another great idea strikes you and you don’t follow through. There is no one to help you sort out your options and keep you on track.
A prospect shoots down your big idea and you’re discouraged and lose motivation. There’s no one to encourage you.
You have a knotty problem and there is no one to talk to — at least no one you can fully trust not to have his/her own ax to grind. Or maybe there’s a group of people …» Continue Reading: Good news! You’re your own boss. Bad news! You’re your own boss.
Then when you finally get over $20 million assets under management with over 100 clients, you find yourself stuck. You hit a wall.
You can’t figure out how to manage the time servicing clients, running your business, managing your staff and still have time to do any growth.
The problem is your old ways of doing business just don’t work anymore. Your business has outgrown your wingspan. You need to learn new ways of running your business.
The main reason advisors stay stuck and don’t change is because they have one or more of these four, common, self-defeating beliefs that keep them stuck.
Here they are:
Self-defeating belief #1. Believing no one else can do it right. You don’t trust others to help you.
The truth is, you simply can’t do it all yourself. You need to let somebody else do those things that keep you away from being in front of your clients and prospects.
As a financial advisor you know … » Continue Reading: Four self-defeating beliefs that keep financial advisors stuck
I just gave a webinar to help financial advisors grow their practice. I feel I did a good job. I felt comfortable and confident during the whole time.
But I remember the days when talking to a group terrified me. My knees shook. My stomach threatened to reject my lunch. I couldn’t look anybody in the eye. It was pretty bad.
All that changed when I discovered a technique to literally erase my fears.
Let me tell you how to use this amazing technique. I use it in my work as a business coach for financial advisors.
Public speaking can propel you toward success. Is public speaking important to you for advancing your advisor practice, but you dread doing it? You and your friends give all kinds of logical arguments that there’s nothing to really be afraid of. Still, when you get up in front audience you tremble, stutter and breakout in flop sweat. Your stomach isn’t too happy either.
You may be one of the many who avoid public speaking at all costs. Or, you may be one of the brave few who press on anyhow. If you do, you will eventually …» Continue Reading: Easy instant painless cure for public speaking fear
If you’re strapped for time and want more of that precious commodity, here’s a trap you must avoid.
Google can be great. You can find information on practically anything. You can get useful information you need right now. That’s a real timesaver.
Sometimes you stumble upon something totally unexpected. It can be something you never thought of that fits perfectly with what you’re trying to do. Congratulations!
Here’s the trap!
The web is, oh, so seductive. Sometimes you stumble upon a great piece of information, idea or system that doesn’t fit for you right now. You’re not ready for it. It’s not something that will advance your goals today, in the future – maybe. And you read on. You find some related articles on the idea. You find parts of the idea you don’t quite understand, so you research that. Before you know it, Google has sucked a big block of your precious time.
I’ve been guilty of squandering my limited precious time delving into the Internet’s precious gems of information, ideas or systems that fascinated me. After spending maybe an hour with this new alluring stranger, I would finally …» Continue Reading: Is Google Stealing Your Precious Time?
I recently attended a Marketing Forum given by the FPA of Michigan. Many important topics were discussed, among them being how to get referrals. Being especially interested in this topic I took some notes and here they are.
A big challenge for financial advisors is managing their time. Because of the time crunch, advisors must focus on the most cost-effective referral activities. Here are the top six. Use them to achieve a more profitable practice.
- Make it easier for your clients to refer you. Educate them and give them the words to use. Nothing is more demotivating than not knowing how to do something. Give them your value proposition and why you are different from other advisors. You will find your happy clients more willing and able to help you.
- A personal introduction is the most effective approach. So whenever you get a lead, ask for personal introduction. You want to meet your prospect face-to-face.
- Make it a goal to spend more time in social settings where the affluent are likely to be, such as country or athletic clubs, fundraisers, or arts events. You can network and … » Continue Reading: The Top Six Cost-Effective Referral Activities for Financial Advisors