In my recently published book, 101 Advisor Solutions: A Financial Advisor’s Guide to Strategies that Educate, Motivate and Inspire, I suggest that advisers read each of the challenges listed and ask themselves this question:“Is this a challenge that I have gone through, are currently going through, or one that I could see myself possibly going through?” Then I ask readers to grab a red pen and circle the applicable solutions that follow. The next step is to go back and re-read those solutions making notes in the margins on how they could incorporate them into their own best practices.
What’s the point of this exercise? Many times the best way to learn about, retain, and apply new concepts is to initially read or hear about them. Jotting down quick thoughts provides you with some guidance—we all think we will remember our “takeaways,” but typically we don’t. How many times have you read books on how to improve your business, but then the book goes back on the shelf and nothing happens?
So, what’s in your whitespace? What are your takeaways from your favorite books, practice management seminars, industry workshops, or from your own or your peers’ experiences in financial services? Are you making the most of those takeaways, or are you simply putting them back on the proverbial shelf where they collect dust?
Financial advisers often go through the day-to-day operations of working in their businesses, not really taking time to work on their businesses. As a result, they continue to run into the same challenges, follow the same course of action, and end up with the same results. When was the last time you asked yourself the tough questions: “What is not working with my business and why? What do I need to do in order to reach the next level? Who do I need to talk to who can help me do that?”
Once you start asking these types of questions and are genuinely interested in finding the answers, you’ll open yourself up to a paradigm shift of possibilities. So fill up the whitespaces in your books and seminar binders and take a moment to write down some of the methods or techniques you have watched others become successful with or those you desire to use to help you build a better advisory business.
If you have a challenge that you want solutions for, please share with us using the comment section below. If you are interested in discussing them in greater detail, simply email me at firstname.lastname@example.org to schedule a free 30 minute coaching session.
Daniel C. Finley
St. Paul, Minn.