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    Winning the Race to Success as a Financial Advisor

    Posted by Mark Triplett, CEO of Triplett-Westendorf Financial Group on Thu, Oct 20, 2016 @ 05:18 PM

    The contrast between winners and losers is stark. Winners are celebrated. Losers are quickly forgotten, unless you're the lovable Chicago Cubs. To the winner go the spoils. Losers lick their wounds and hit the showers. Winners get paid. Losers, well sometimes they get paid too, just a lot less. Have you ever considered what really separates winners and losers? The margin between victory and defeat is often narrow, but the reward gap is huge.


    The Difference Between Winning and Losing

    For example, a racehorse wins by a nose. However, it claims 10 times the prize money. The second-place horse earns substantially less. Was the first-place horse 10 times faster than the first runner up? Of course the answer is no. The second-place horse was a mere split second from winning, but didn’t. The result is a huge payday, but what really contributed to the winner earning 10 times more in prize money?

    It may come as a surprise to some, but it wasn’t the grand event of the race itself that made the difference. It wasn’t the electric atmosphere of the big race day. No, it was the little things that added up. The unseen small acts of dedication and determination everyday for months, or maybe even years, leading up to the big day.

    It was the mundane warm-ups each morning. It was the rigorous early morning gallops sessions. It was the dietitian’s strict attention to nutritional detail. It was the exhausting breezes (sprint) training sessions. It was the execution of a well-trained jockey on race day. It was a compounded result of the little small acts done consistently each and everyday, in preparation for race day. That’s what meant the difference in winning 10 times the reward. 

    Consistency Pays Off 

    The difference in income between the top paid professionals in their field are often separated by the slimmest of margins. Only a few percentage points difference in performance mean huge differences come payday. Their ability to execute consistently, continuously over time, permits the cream of the crop to rise to the top.

    Take for instance the number one golfer in the world. Compare average strokes per round to that of the tenth-ranked golfer. They are separated by less than one stroke on average. The number one golfer is not five times better, but only 1.2% better on average. Yet, this person earns more prize money and endorsement deals because of it.

    This is another example of how the little things, not monumental acts, make for a much greater payoff. The seemingly unimportant routines, and unsexy repetitive practice drills, execution of a plan with determination mixed with passion makes the difference.

    Why Are There More Winners

    Why do a seemingly handful of exceptional people earn a greater income, or have more success and achievement than everyone else? They do the little things day in and day out necessary to excel. They execute the simple things, the mundane, routine, unsexy, laborious activities that the unsuccessful people are unwilling to do. They complete these tasks as part of a consistent process. They do the things that no one likes to do (not even them), when no one is watching, because they want to win!

    “I Want 10 Times The Results,” You Say

    Do you want 10 times the results you're getting now? You don't necessarily need to be 10 times better than you are today. However, you do need to execute the small seemingly unimportant activities consistently and continuously over a long period of time. Do the stuff that your competitors are unwilling to do.

    Your competitors have set the bar pretty low. Therefore it won’t take much effort as you might think. In the end, that will be the difference maker. It will determine whether you qualify to earn 10 times more than a financial advisor who does not have a consistent process

    Where To Begin?

    So what is in your regimen for success? What are you doing every single day to condition yourself, and your business, to earn 10 times what you are right now. Are you practicing a disciplined routine? Are you consistent in your actions? Do you harness the power through well designed processes and systems? Do you execute necessary actions with passion and determination each and every day? Do you do what no one really wants to do, not even you, when no one is else is watching?

    Or do you wake each day wondering what the next 24 hours will bring? Do you make split second decisions about what actions to take next without fully investigating the opitions? Are you the equivalent of an armchair quarterback, or are you the Pro-Bowler he’s yelling at from his Lazy-Boy?

    Do you have the drive and determination to be the top financial services professional in your community? It is time to get to work. Become a consistent advisor and separate yourself from the wanna-be’s and some-day I'll ... and fix-in' too's. They are not going anywhere, even if they talk about it a lot. You're going to take action and break away from the pack to take the lead. Aren’t you?

    As a financial professional, you should explore and use multiple strategies to fill your lead funnel. To become a successful insurance producer, you must first develop a long-term marketing plan and most importantly, commit financial resources to see that plan through. Get the eBook shows you the five most effective and proven ways to fill your sales funnel.

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    Tags: coaching, practice management


    This content is for informational and educational purposes only and is not designed, or intended, to be applicable to any person's individual circumstances. It should not be considered as investment advice, nor does it constitute a recommendation that anyone engage in (or refrain from) a particular course of action.