BachrachBlog

Here’s a story to put in your inspirational “if he can do this what can I do” tool box.

On June 16th Paul Danhaus will embark on a 3,000 mile solo bike race from San Diego, CA to Annapolis, MD. It’s one stage.

He should arrive on June 26th or 27th. Paul will sleep about 3 hours / day for 10 – 11 days. He’ll average about 250 miles / day.

He has a crew, but he will be riding alone – no drafting. Paul is a 60 year-old veterinarian who hopes to break the record for 60 year-olds in the Race Across America (RAAM). He has never been a professional athlete.

The Tour de France, by contrast, is approximately 2,300 miles long divided into 21 stages over 23 days, with 2 rest days. The professional cyclists in the TDF ride 4 – 7 hours / day in a peloton. Most of the time they are protected from the wind.

What about you? No, I’m not suggesting you compete in the next Race Across America. But, where could you step things up in your personal or professional life that could make you more successful and / or happier?

Follow Paul’s progress at www.pauldanhaus.org

I took this picture of Paul (third from the left) at his kick-off celebration on June 14th.

Ford’s comment is consistent with the thought that we don’t know what we don’t know.

As it relates to you, a striving to be even more successful financial advisor, your clients and prospective clients don’t know what they don’t know. They don’t know about the value they could be receiving from a truly, full-service, comprehensive financial services professional. All they know is what they have experienced with the traditional investment advisor. And that’s far from the best that’s available.

They don’t know 10 Deliverables and the sub-set 110 deliverables checklist exists.

I’ve read surveys of wealthier people where they report that, on average, they have 5 financial advisors each. The implication being that a financial advisor should not expect to get all of their money. My point of view is that this is only because they have not yet met ONE trustworthy advisor who stands out as capable of taking care of everything. Successful people, especially, are oriented to value and simplicity. If they thought one advisor could really take care of them they would hire that advisor and disengage from the others. Multiple advisors is not diversification.

What if Henry Ford had read a survey that said the average consumer owns 5 horses for transportation? Ford knew, instinctively, that when you build something better people will switch. Human beings are, by nature, improvement seeking beings. We naturally gravitate to things which make our lives better and simpler. There are exceptions, of course, but most of us adopt products and services which improve our lives. Notice how many cars there are on the road today compared to horses.

The question is, “how do you become that advisor who so clearly stands out as trustworthy and with superior capability?” As far as trustworthy, you are already that or not. As far as capability, check out Mark Little’s website www.trustedadvisortoolkit.com.

Maybe if you build it they won’t come. But, if you build it and make sure they know about it you will rapidly acquire all the Ideal Clients you need.