Tips for Stopping Negative Self-Talk from Sabotaging Your Business Goals

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Many advisers say their goal is to grow their business—more specifically, to enhance their production. But when we start to explore the obvious approaches to accomplishing that goal, it becomes evident that there’s a lot of negative self-talk going on in advisers’ heads that is getting in the way of their success.

It’s OK to have negative thoughts once in a while, but if you’re letting that negativity or lack of focus sabotage your business goals, you need to do something about it. Your mindset is critical to growing your top line. So, let’s take a look at some of the common thoughts that can get in an adviser’s way—and what you can do to get yourself back on track.

Feel Like You’re Too Busy? You Do Have Time
It’s our MO to say we’re too busy to do the activities necessary to grow our business. But is it true? Are we really too busy, or do we choose to keep ourselves busy with stuff that’s necessary but not so important that it should take time away from our production goals?

For example, some advisers choose to spend time doing administrative paperwork. Why not hire staff so you can delegate the work to them? Other advisers feel the need to stay glued to the monitors so they know exactly what is going on in the market at all times. The market is out of your control, so why not work on something you can affect? Then there’s the adviser who decides to spend year after year servicing clients who just aren’t profitable. Maybe it’s time to prune your book or hand off those clients to another adviser who will see them as “A” clients.

Not Asking for Referrals? Start Today
Your mindset is particularly relevant when it comes to asking existing clients for an introduction to their friends or family. Some advisers have the perception that asking for referrals is tantamount to a lack of professionalism, when it’s really a sign that they need to develop the skill set—along with the courage—to have this conversation. And while it may be true that some advisers get all the referrals they can handle without even asking, I’d wager that for every adviser for whom this is true, there are at least 10 who want more prospects but are simply nervous to ask their clients for help. There’s no harm in asking the question.

Think You Need to Work More Hours? Your Ability to Focus Is More Important
Many advisers assume that growing production means having to work more hours. That may be true for some, but if you study the habits and behaviors of the highest-producing advisers, you find that they generally have an uncanny ability to focus, focus, focus! They make every moment count to ensure the highest ROI per unit of time—and that includes delegating tasks to staff and asking for introductions to prospective clients.

Indeed, your mindset has everything to do with success.

Fess up. What gets in the way of growing your business? Are they legitimate reasons or defeating self-talk? Remember: whether you tell yourself you can or you can’t—you’re right!

Joni YoungwirthJoni Youngwirth
Managing Principal of Practice Management
Commonwealth Financial Network
Waltham, Mass.

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