July 21, 2014 / by David Hubbard / Best Practices / 0 comments
You can’t do this by yourself. You need a team. Even if the team is just you and a part-time person.
This seems like a no brainer, right? So, how come so many people get it wrong?
Too many financial advisors hire bodies to do the menial work of the business. Too few hire effective people to be part of their team.
Think of running your business like you are playing a team sport.
Your primary role should include “rainmaker”, “closer”, “presenter”, “relationship manager”, “planning and product expert”, etc. Somebody else should be doing the rest. Your team members should not be clones of yourself. They should be people who can fulfill the duties that you shouldn’t be doing and do them better than you can do them.
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In this category, we will share stories and practical tips for financial advisors and consultants which have proven to be best practices throughout the years.
How to Manage Your Emotions in Difficult Situations
August 21, 2014 / by Don Connelly / Best Practices / 0 comments
You know by now that I believe the development and use of certain soft skills contributes far more to our success than does the development and use of hard skills. Self-awareness is just such a soft skill. The importance of being aware of and controlling our emotions cannot be overstated.
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Building Your Business with These 12 Tips for Financial Advisors
August 7, 2014 / by Don Connelly / Best Practices, Don Guest Authoring at... / 0 comments
This is one of Don Connelly’s guest posts over at FA Magazine, giving you 12 tips how to build a better and more enjoyable business.
1) Get really good at what you do. Do the ordinary things extraordinarily well.
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Maximize Your Efficiency
August 4, 2014 / by Don Connelly / Best Practices / 0 comments
Michael from Bank of America asks how many hours a week he should be working to get to a certain level. The answer lies in the productivity of his work hours.
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Success Is a Team Sport
July 21, 2014 / by David Hubbard / Best Practices / 0 comments
You can’t do this by yourself. You need a team. Even if the team is just you and a part-time person.
This seems like a no brainer, right? So, how come so many people get it wrong?
Too many financial advisors hire bodies to do the menial work of the business. Too few hire effective people to be part of their team.
Think of running your business like you are playing a team sport.
Your primary role should include “rainmaker”, “closer”, “presenter”, “relationship manager”, “planning and product expert”, etc. Somebody else should be doing the rest. Your team members should not be clones of yourself. They should be people who can fulfill the duties that you shouldn’t be doing and do them better than you can do them.
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There Are Times When It’s Simply Best to Forgive and Forget
July 7, 2014 / by Don Connelly / Best Practices / 0 comments
To succeed as a Financial Advisor, one has to accept that disappointment is inevitable. We don’t always get what we want. Disappointment breeds frustration. Negative emotions are unavoidable, yet they must be controlled. We’re in the business of controlling the emotions of others. We can’t do that well until we have control of our own emotions.
I think the best way to deal with disappointment is to put it in perspective.
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How Passion and Love for The Business Helps Financial Advisors Succeed
June 26, 2014 / by David Hubbard / Best Practices, Managing the Relationship / 0 comments
Ok, it’s the moment of truth. Answer this question honestly. Do you love what you do? Wait, I didn’t say “like”, I said “LOVE”.
Hopefully, you answered with a yes!
Now, let me ask that same question a little differently. Are you passionate about helping your clients achieve their financial goals?
Again, I hope the answer is yes!
These are important questions that I ask the many financial advisors whom I coach. All of these financial advisors desire to be extremely successful. Unfortunately, not all of them are able to say that they love the relationship part of the business. That presents a major problem for them to achieve the success that they are looking for.
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It Takes Extraordinary Patience to Build a Successful Business
June 19, 2014 / by Don Connelly / Best Practices / 2 comments
There is a great chance that you have a can of WD-40 under the sink or in the garage. Most people do. In fact, you can find it in the garages of homes in 160 countries. Everybody knows WD-40. What most people don’t know is the origin of the name.
The Rocket Chemical Company was founded in San Diego, California in 1953. It created a product to displace the standing water that caused corrosion in nuclear missiles. The first thirty-nine attempts to perfect the formula failed. Success was achieved on the 40th attempt. WD-40 literally stands for Water Displacement, 40th attempt. In 1969, the company name was changed to simply WD-40.
We have all heard of similar struggles by Walt Disney, Theodore Seuss Geisel and the Coca-Cola Company. If we’ve learned one lesson from these stories, the lesson is, don’t be in a hurry to become a success.
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The Only Thing People Are Buying Is You
June 12, 2014 / by Don Connelly / Best Practices, Don Guest Authoring at... / 4 comments
This is Don Connelly’s latest guest post for FA Magazine.
I was having lunch with a friend recently. My friend ordered a Coke with his food. The waitress told him they didn’t serve Coke. Would a Pepsi do? Without hesitation my friend said yes. He didn’t care if he was drinking Pepsi or Coke. He just wanted something to drink with lunch.
Clients think like my friend thinks. They don’t care if they are drinking Pepsi or Coke. Clients want to hit their goals.
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A Sense of Resilience Will Overcome a Sense of Uncertainty
June 9, 2014 / by Don Connelly / Best Practices / 0 comments
Making a decision is essentially making a prediction. We know going in that some decisions will be bad ones. That is why uncertainty always creeps in. How we deal with that uncertainty is a function of our resilience.
Resilience determines how we get strong and healthy after something bad happens.
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Stress Management Will Help You Get Your Stress Level under Control
June 2, 2014 / by Don Connelly / Best Practices / 0 comments
Stress is a two-edged sword and it’s important you find the proper balance. Stress occurs when things happen that disrupt our routine. Too little stress and we’re under-motivated. Too much stress and we could be heading for an early grave.
The stress of building a business, hitting goals and asking for commitments never goes away.
You’re not going to escape it. You must learn to manage it. Your career depends on it.
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