How to Find What Makes You Different from Other Advisors
The financial services marketplace is heavily commoditized. There are lots of firms offering basically the same products to the same people, so being the same as everyone else in this industry will not cut it.
In order to succeed you need to quickly identify what makes you different, what makes you stand apart from the crowd.
Ask yourself these questions in order to find out if you have the unique attributes you need to succeed.
Do you happily accept that your role is to sell your skills and ideas on a daily basis?
If you can answer ‘yes’ to this then you have a trait that marks you out as different for all the right reasons. If you feel comfortable in your skin as a ‘salesperson‘ and confident about selling yourself, your process and your products you have differentiated yourself from lesser advisors who mistakenly believe that clients are too sophisticated to be sold to.
Elite advisors know they are in the advice business, and that one of the hardest things in the world to sell is advice and ideas. If you understand this then you’re on the right track to success.
Are you adamant that you are in this business to change people’s lives?
Great advisors understand their importance. Because of their advice someone can put their kids through college, or retire comfortably. They have the ability to change people’s lives. They never undervalue themselves because they know they are worth their fees. If this sounds like you, then you’ve found another positive attitude that differentiates you.
Do you work harder than anyone else?
If you are ready to outwork your competitors then you will achieve more success. If you are willing to undertake repeatable processes again and again and stick to the basics you are one step ahead of other advisors who get bored. If you exceed rather than just meet your clients’ expectations then your outstanding service will differentiate you. If you always call your clients before they call you, and always go that extra mile you can hope to achieve the success reserved for the elite.
Do you continually hone your skills?
Great advisors never simply rely on their talent, or rest on their laurels. They are constantly searching for new ways to improve. If you are willing to practice your skills until you get it right every time you will distinguish yourself from others.
Do you keep it real?
If you are never guilty of overpromising, you have the unique ability to understand your client’s needs. Most people are not seeking investment advice in order to become wildly rich, they’re merely trying to beat the bank. If you can truthfully tell your clients you will do your best to ensure they achieve these goals (so long as they stick to the plan) your honesty will pay you dividends. When you first start out as a financial advisor it can be difficult to pinpoint what it is that you have that makes you different. But if you can answer yes to the above questions you already possess the unique attributes that will help you rise above mediocrity.
Go where others fear to tread, do what you do best and you will differentiate yourself and leave the competition standing.