Small things can add up to big results.
What specific steps could you take to increase your revenues in the next 90 days? For just one moment, fast forward 90 days and imagine that you have opened several significant new client relationships. Imagine that your net new assets are up from a year ago. (With the decline we have seen in the market, many financial advisors would love to get back to where they were a year ago.) Imagine that you have better customer service processes in place. Finally imagine that for the first time in a while your personal level of fulfillment is back and you are excited to walk into the office each morning.
Is it even possible to hope for those positive experiences in the next 90 days? I believe it is not only possible, I believe it can happen. In fact, I deeply believe that one of the greatest gifts we have as intelligent thinking beings is the ability to have hope. Now is the time to take that hope and back it up with action.
Here are seven ways to increase your revenues in the next 90 days:
1. Have Daily Goals
Be clear and concise in what you want to accomplish every day. There is a huge difference in almost every industry between the average producer and the industry "superstars." Now is a great time to define what you want to accomplish. Set goals of what you want to accomplish in the next 90 days. List how many new accounts you would like to open. Decide what amount of net new assets you would like to acquire and write down your specific revenue goals. Then as clearly as you can, write down specific daily goals that will take you where you want to be.
2. Increase Your Daily Activity Level
One of those daily goals might be to increase your daily activity level. In my last article, "1 Piece of Paper that can Increase Your Daily Productivity," I discussed how our team became intentional about increasing the number of:
* Outgoing client calls
* Face-to-face client appointments
* Networking events
* Other daily activities
Increased revenue will almost always follow your increased daily activity level.
3. Focus on Your Strengths
What made you successful in the first place? Focus on your personal strengths and then systematize those strengths into your personal story. New business is drawn to you when you believe you can help someone achieve their goals and dreams. What are the parts of this business that you do better than your competition? Focus on those strengths.
4. Do One Thing Better Every Day
If you double a penny every day for 30 days it will grow to $ 5,368,709.12. Or, simply take out a regular piece of paper and see how many times you can fold it in half. With my bare hands, I could easily fold it six, maybe seven times. Did you know if that if it were possible to fold that piece of paper in half 50 times, it would, in theory, be tall enough to almost reach the sun? Doing small things over and over, that makes all the difference. A great business philosophy is to do one thing better everyday. It adds up.
5. Interval Training
Athletes are becoming more and more aware of how important it is to incorporate interval training into their workouts. Interval training burns fat, increases energy and definitely forces you to change up your routine. It should be obvious that humans perform well under stress. We also need time for rest and recovery. The same should be true for your work week. Know when your body clock is at its best and schedule your most important and productive activities at that time. Just as importantly, schedule breaks into your day; walk up or down a few flights of stairs; drink a bottle of water or do something as simple as stand up and stretch. Set up your day so it works for you.
6. Do What You Say You Will Do
While you have no control over the performance of the stock market or the movements in the bond markets, there are plenty of goals you can set everyday that you have complete control over. You can choose to get enough rest, make it to the office on time or early, exercise so you will have the proper amount of energy and make healthy eating decisions. Make a decision that you will do what you say you will do--then do it.
7. Expect Great Things to Happen
When was the last time you walked into the office with a renewed sense of purpose and determination? Can you remember the last time you drove to the office with a specific plan of action and you worked in an entirely different zone? Think about what those days feel like. They are amazing. So much of what happens to us in life is created by the anticipation of what we expect to happen. The beginning of a new year is a great time to set new expectations.
Earl Nightingale was right when he said, "We become what we think about most of the time." There is no doubt that the last few months have been some of the most volatile in the last 100 years. But I am also convinced that there will be many financial advisors willing to step up to the challenge and the changes ahead of us.
Fear can paralyze, and no one knows what the markets will do over the next 90 days. We have absolutely no control over market behavior, but the great news is that we have complete control over the day-to-day decisions we will choose to make for the next three months. Now is the time to have conviction about the personal beliefs that drive your investment process. Now is the time to believe you can make a positive impact on the clients you serve. Now is the time to take control of the small decisions that we all make every day.
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