Lessons from a Billionaire
As a result of me scheduling an appointment with my billionaire neighbor to ask questions and gain some knowledge, insights, and wisdom to become a better CEO, here are some ideas you might apply in your business. I’m gladly sharing with you some of the nuggets he shared with me that could benefit you. You may find these ideas useful as you decide your course of action during these challenging times.
The 5 most significant, transferrable ideas for being successful are:
1. A desire not to be controlled by circumstances.
2. An unwavering determination that nothing was going to prevent me from accomplishing my goals.
3. The determination to increase my knowledge through study and experience.
4. Continuous effort.
5. A passion for helping people.
When he talked about a lifetime dedicated to helping people he got tears in his eyes. His passion for helping people was palpable.
How do you rate yourself in each of the above categories?
What about the rest of your team?
How strong is your desire to NOT be controlled by circumstances? Now is a great time to put that desire into action.
How would you describe your determination to accomplish your goals? Unwavering?
What is the level of your commitment to increase your knowledge through study and experience? Is that just something you do when times are “good?”
Continuous effort? For example, are you continuing to ask for referrals, make contact with new people, and add new Ideal Clients during this unprecedented opportunity to build your business? Or are you justifying your lack of continuous client acquisition effort because you’re too busy holding your existing clients’ hands?
Do you care so much about helping people that you get emotional about it?
Your ability to survive, and even thrive, during challenging times has nothing to do with your technical ability or your tenure. Lots of smart, experienced financial advisors are either considering leaving the business or are squandering this unprecedented opportunity to add new Ideal Clients to their practices.
The single word that exemplifies how my neighbor became a billionaire is DETERMINATION. His “unwavering” comment was also a clue to what it really takes to thrive in any economic environment.
The legendary boxer, Joe Louis, is famous for saying, “everybody wants to go to heaven but nobody is willing to die.” And that’s a good lead in to the other big lesson that was reinforced for me during our 3-hour conversation: there is no “silver bullet.” His success was due to applying fundamental principles over time. He was simply willing to do, consistently and with determination, what most others knew to be true, but just didn’t do it.
It’s a great time to be a Financial Advisor!
