10 New Habits That Will Skyrocket Your Financial Advisory Practice in 2016

We are all creatures of habit. Good habits make life immeasurably easier. Bad habits make life hard.

But here’s a fact you may not have considered: Habits are not simply good or bad. Some are better than others. They make our lives easier. We can put many of our activities on autopilot, saving us from exhausting ourselves with endless decisions.

I believe the simplest, easiest and most effective way to improve ourselves is to replace a bad habit with a better one. For example, I replaced biting my fingernails with carefully keeping my nails smooth with a clipper and a file.

In short, the way to improve and upgrade ourselves is to upgrade our habits. Replace bad habits with good ones. Upgrade second-rate habits with better ones. For instance, I used to brush my teeth only in the morning. While sleeping, my teeth were bathed in fermenting food and I got cavities. I upgraded to brushing my teeth after breakfast and before going to bed. No more cavities!

In short, you want to either replace or upgrade; replace your bad habits with good ones or upgrade your second-rate habits with better ones.

Here’s a list of 10 habits you can replace or upgrade that will skyrocket your practice in 2016.

Habit #1

Replace the habit of having lunch with your coworkers with having lunch with referral sources. The benefits are obvious. You can use those lunches to strengthen relationships, gain likability and increase trust.

Habit #2

Upgrade rewarding your sales assistant with verbal praise. In addition, set an attractive bonus for hitting your sales goals for the year.

Habit #3

Upgrade trying to wow every one of your clients with superb service. You’ll exhaust yourself by spreading yourself too thin. Instead, focus on just the top 20% of your clients. This way, you’ll be able to make a great impression on those clients who deserve it. They will become more loyal and speak well of you.

Habit #4

Replace starting your day with whatever happens to get your attention, with writing a simple daily to do list ranked in order of importance. You will no longer be controlled by others, but be in charge of yourself.

Habit #5

Replace doing client reviews whenever something happens to get your attention, with regularly scheduled appointments. That way you won’t miss serving your best clients. One of the biggest complaints clients have is not seeing their advisor frequently enough.

Habit #6

Upgrade rewarding clients and centers of influence with a one-time consumable: dinner, candy wine. Add a new habit. Give paid subscriptions to their favorite magazine that comes 12 times a year. This is an inexpensive way to have them think of you more often.

Habit #7

Replace “intending to write an article” with calling 10 publishers offering to write an article. When one says yes, you’ll have a deadline with a compelling reason to write.

Habit #8

Replace leaving your office door open with closing your door so you’re not interrupted as much and get more work done.

Habit #9

Replace being too self-reliant, with hiring another pair of eyes to help you see the big picture and stop playing small. Every successful athlete has a coach. Every successful musician has a teacher.

Habit #10

Replace winging it when someone asks you what you do. Instead write, memorize and rehearse short answers to common questions. Marketing is all about communication. You’re like an actor on a stage when at a networking event. No actor would ever dream of going onstage without knowing his lines.

Habit #11

Yes, there is the one more that only you know about and it should be replaced with a better habit. It might be the most important one. Be sure to replace or upgrade it.

There you have it. Replace or upgrade only a few of your habits and your business will boom. Replace or upgrade them all and the sky’s the limit.

My readers and I would be extremely interested in your comments. Please comment below.

Highest regards,

Stan

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