Presented by David Corwin
The secret to being a successful financial advisor isn’t about what you do or how you do it; rather, it’s about why you do what you do. If you are truly inspired, success will easily follow.
Communication, listening and wisdom are the foundations of inspiration and the basis of all positive beliefs and feelings. Inspiration is sustainable because it comes from within.
On the other hand, lower forms of motivation are based on a desire to meet your needs for recognition, safety and worthiness. These needs are the basis of all negative beliefs and emotions. Such motivation is not sustainable because it comes from outside. It attempts to satisfy unmet needs through people, places and things.
What are the practice management issues many advisors face? Things such as lacking a business plan and clear goals, neglecting to ask for referrals or simply allowing yourself to become overwhelmed are just a few.
Starting out with a “zero” in the production column has its way of getting you down or not as motivated. Here are 3 reasons why:
1. Lacking business plan/goals. The need for safety generates negative beliefs such as “I don’t have enough time” and “I don’t have enough money,” which fuel the negative emotions of anxiety and fear. Hence, an advisor becomes addicted to survival. It is impossible to establish values, vision, a business plan and goals while this is happening. A learned advisor once said, “Most financial advisors are addicted to selling, and they will not take the time to build vision, a business plan and goals.”
2. Not asking for referrals. Ninety percent of advisors agree that asking for referrals is the number one way to build their businesses, and yet only 15 percent actually ask for them on a consistent basis. The need for approval generates negative beliefs such as “What if they say no?” which fuels negative emotions such as uncertainty and worry.
3. Becoming overwhelmed. The need for control generates negative beliefs such as “I am out of control” and “No one can do it as well as me,” which contributes to the negative emotion of fear. Just remember that the “law of attraction” is absolute, and with the need for control fueling negative beliefs and emotions, you will refuse to delegate. Or, if you do decide to delegate, you will fear that no one will ever be able to do the job as well as you can. Your needs will become your jailor.
Values are like turtles: They only come out when it is safe. Unmet needs will wreak havoc on your values, vision, business plan and goals. They will limit your ability to grow. Until you are able to meet those needs from within, inspiration which is the foundation for true success will elude you.