/ 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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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.
It Takes Extraordinary Patience to Build a Successful Business
/ 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.
Read more
The Only Thing People Are Buying Is You
/ 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
/ 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
/ 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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It’s All about Your MVA
/ by David Hubbard / Best Practices / 0 comments
Why isn’t my business growing like I want it to? Why has my business plateaued? Why am I working so many hours but not growing my firm? These are several of the questions that I get from some of the financial advisors that I have coached. These advisors have become frustrated that their businesses aren’t succeeding as they want. Although they have been in the business for more than 5 years and have achieved some success, they still want to grow.
When I hear these questions, or comments, I begin to do some probing.
I become very curious as to how these advisors spend their time. I am specifically looking to determine what these advisors do on a daily basis.
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Why Some Clients Love Their Advisor
/ by Don Connelly / Best Practices, Don Guest Authoring at... / 0 comments
The latest guest post by Don Connelly for FA Magazine is about what makes some Financial Advisor so special; why some clients love their Advisor. Here is how to blog post goes.
When I speak at client events, I arrive early and stay late. I have fun chatting with clients. I like to know what’s on their minds. Their concerns are varied yet predictable. There are rarely any surprises…
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It Takes Persistence and Perseverance to Keep Doing a Difficult Thing
/ by Don Connelly / Best Practices / 0 comments
Do you think it’s possible for you to become one of the best Financial Advisors in the world? How about in your firm or in your town? Is it possible for you to be great, to be admired and looked up to? How about rich? How about famous? Or are the rewards for the other guy? Have you thought long and hard about what it takes to become great?
It has been said that advice is what you seek when you already know the answer but wish you didn’t.
The good news is that all those things are within your grasp.
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Self-awareness Helps You Understand How People Perceive You
/ by Don Connelly / Best Practices / 0 comments
As a Financial Advisor, your image is all-important. You’ve got to get it right. The burden is on you to decide how you want people to perceive you. As you are crafting your image, be reminded that every word you say and every move you make are advertisements. In too many cases, there is a big difference between what the Advisor thinks he is sending as an image and what the world perceives.
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Love What You Do and Do What You Do Best
/ by David Hubbard / Best Practices / 1 comment
“I want to be more successful”, “I want to be a million dollar producer”, “I want to have one hundred million under management”. These are but a few of the phrases that hundreds of advisors have told me over the years. Many advisors measure their success by some numerical figure relating ultimately to income. The first thing that I have to do is to remind them that income is the result of running a successful financial advisory firm.
Why is it that the vast majority of financial advisors never achieve the success that they hoped for when they decided to enter the business?
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