BachrachBlog

As the comedians like to point out, it’s because you stop looking after you find them, of course!

Perhaps the same could be said for systems and processes for building and running a successful financial services business.

- What do you do after you find a client service model that works?
- What do you do after you find a client acquisition process that works?
- What do you do after you find a system for building and leading your team that works?

If you are still looking, it’s probably because you have not yet found an integrated system that covers all the bases for building a highly successful financial services business. What are the bases?

1. A predictable way to be paid to deliver a superior client experience that is not dependent on events out of your control like the market or the economy or the underlying products.
2. A predictable way to consistently acquire new Ideal Clients.
3. A process to build and lead your team to help you produce results in both of these key areas crucial to being a highly successful financial advisor.

What is your predictable way to be paid to deliver a superior client experience that is not dependent on events out of your control like the market or the economy or the underlying products? How do you consistently acquire new Ideal Clients? How do you build and lead your team to help you produce results in both of these key areas for being a highly successful financial advisor?

While there are proven systems to produce these results, the bottom line is that there is no silver bullet. As the famous saying goes, “the only place where success comes before work is in the dictionary.” Once you identify the process or the system or the method for serving clients, acquiring clients, and building a team, the real work begins to successfully implement these systems and methods. This may explain why so few advisors are producing consistent results in these crucial areas.

“Many of life’s failures are people who did not realize how close they were to success when they gave up.” – Thomas Edison

Successful advisors accept that there is no silver bullet and are willing to do the work their goals require to achieve them. Maybe you already have a great system or perhaps you still need to find one.

The bottom line is that the sooner you find your keys the sooner you can drive your car. Looking for the keys doesn’t produce any desired results. It’s the driving that gets you somewhere you want to be.

To learn how our turn-key business model can help you have your Ideal Life in 4 years or less by building an Ideal Client Community, by referral only, give us a call at (800) 347-3707 to schedule a complimentary consultation. Or, go to www.billbachrach.com to schedule your complimentary Success Road Map® interview with one of our coaches.

Do you remember when professional football player Plaxico Burress shot himself in the leg and was ultimately sentenced to 2 years in prison? Did you say something to yourself like, “What an idiot!” Maybe that was followed by a thought like, “How could anyone squander such a great opportunity by doing something so stupid!?”

To refresh your memory, in March of 2005 the free-agent wide receiver signed a 6-year, $28.5 million dollar deal to play for the NY Giants. He caught the winning touchdown pass in their 2008 Super Bowl victory over the New England Patriots. As far as we know, he has no other opportunity to make this much money in some other line of work. He’ll be almost 34 when he’s released from prison.

Mr. Burress lost his substantial income, his freedom for a period of time, and jeopardized his best opportunity for lifetime financial independence. Not to mention, the embarrassment of the situation. I guess that’s why the mantra of NFL coaches is “nothing good happens after midnight.”

I don’t have an axe to grind with Mr. Burress. I hope he returns to play in the NFL at a very high level. I’m interested in the lesson for the rest of us.

What is the relevance for you? What is your opportunity? Among other things, you have the opportunity to create your Ideal Life in Four Years or Less, by building an Ideal Client Community, by referral only, using the Values-Based Financial Planning™ turn-key business model. This industry affords you the opportunity to earn high six-figures, or seven-figures, of business revenue, hundreds of thousands of dollars of personal income, help people achieve their goals and fulfill their life values, enjoy significant personal freedom, live a great life, etc. etc. etc. But most financial advisors are almost certainly doing some things just as dumb as Plaxico Burress shooting himself in the leg. It’s just not making headlines… thank goodness.

The situation with Mr. Burress illustrates that some things are monumentally dumb. What about the more subtly stupid behaviors and day-to-day choices that may be having just as devastating of an effect on your success? Do the small dumb mistakes add up to have a larger total effect? You may not be doing the business equivalent of shooting yourself in the leg, but your smaller, more subtle, poor choices could be having an equivalent and negative cumulative impact on your success and quality of life.

Reflection is healthy. My advice is that every time you read a headline about somebody else doing something really stupid, reap the rewards of that situation by reflecting on your own behavior. Ask yourself a few good questions:

- What dumb things am I doing to squander my opportunity?

 - How much is it costing me in terms of time, money, and happiness?

 - What is the corresponding opposite behavior that would have a positive impact on my life instead of detracting from it?

It’s so easy to see why everyone else is an idiot, isn’t it? But we can learn lessons from other people’s dumb behavior. Their stupidity can be our springboard to success!

Here are a few more great self-examination questions:

- Could I spend less time in low pay-off activities?

 - Could I be investing more time every day and week asking for referrals, making follow-up calls, effectively engaging prospective clients I was referred to in compelling phone conversations about what matters to them, doing more initial client interviews, and delivering truly comprehensive financial services?

 - Could I eat better and exercise more consistently?

 - Could I be more productive at work so I can spend more time with the people I love?

Make it another great month on your way to your best year ever.

Enjoy the interview with Rick Barrera about why he joined forces with Bachrach & Associates and the benefits to Advisors.

Rick is a marketing expert and author of “Non-Manipulative Selling,” “Collaborative Selling,” and “The Dollars and Sense of Service Delivery.”  Penguin has just released the second edition of his book, “Overpromise AND Overdeliver: How to Design and Deliver Extraordinary Customer Experiences” which has made both the Business Week and Wall Street Journal best sellers lists.  Each year he works with leading organizations such as Intel, Lexus, JD Edwards, Harley-Davidson, General Electric and Hewlett Packard helping them reach new levels of excellence. He is now working with Bachrach & Associates.

Find out for yourself the benefits of this joining of forces between Bill and Rick.

To listen to this interview with Rick Barerra, go to: http://www.baivbfp.com/assets/audio/mp3/barrera/index.php