Six of the top self-sabotaging activities. Which, if any, are you guilty of?
Author: Steve Drozdeck
Publication Date: April 12, 2017
Here are 7 things that can virtually guarantee failure in our business. Are you guilty of one or more of them?
- Not having a goal-driven work ethic. It's too easy to take it easy, to become complacent, bored, tired, frustrated, or whatever word you want to use, and stop actively promoting your services to others. Even becoming "successful" can be self-defeating if allowed to slow down your efforts.
- Not knowing your client as a real person. Too often clients are seen as cash machines whose sole purpose is the generation of commission income. The "client = cash cow" syndrome represented some firms and within many movies.
- Having a myopic view of the industry. Sure it's often important to specialize, but we should also be aware of the bigger financial picture. Cross-selling, share-of-wallet and strategic alliances are terms that come to mind. Your client has more than one financial need. Do you profile them well enough to identify other areas of need? Even if you can't offer them something to meet those additional needs, do you know others that can?
- Becoming a dinosaur. In a rapidly changing industry, it's easy to fall behind the times. This extends beyond product knowledge into the realms of technology, social media, awareness of current events.
- Taking things for granted. Not taking clients for granted goes without saying. But, do you take your family for granted? How about your health? What are you doing to ensure that you're really living your life as well as you can?
- Being self-absorbed. You're not in it alone. You are part of a team.
- Not marketing yourself effectively. Most advisors and firms do an unbelievably poor job at marketing.