Distraction-Proof® Advisor Ideas

AdviserBlast – Quick Tips to Accelerate Your Practice

In this issue: Endure short-term loss to enjoy long-term gain.

People talk about change like we should look forward to it. We're encouraged to embrace it and eagerly anticipate the good that it will bring.

But let's be honest: because change means something new and unfamiliar, it's uncomfortable. When we are forced out of the comfort of our normal routine, there is an initial, if momentary, loss. With ever-increasing demands on our time and energy, who's lining up to experience loss?

The feeling of loss is unpleasant enough, but even more unappealing, is that even when we do endure that feeling, success still is not guaranteed. "What if I go through this, and it doesn't work out?" We can start to feel like it might just be too hard after all, and wonder if it is even worth trying to change.

Yes, it is true, change does mean loss…at least initially.

If we want to get healthier, shed a few pounds and eat better, it means a loss of our 'free time' when we exercise, a loss of our regular eating habits when we chose to forgo the second bowl of ice cream , and a loss of short-term comfort while we're sore from our first few workouts.

When you're building a great business there can also be loss. If you want to increase prospecting and call people you don't know, it means a loss of safety and security because their responses are unpredictable and some may even be negative. You might lose a little confidence if you receive more negative responses than positive.

If you're redirecting your business toward a fee-based model, away from transactional commissions, you can lose time while you're explaining your new model to your clients, and you may even lose some clients.

Bringing on a partner or even an assistant can mean loss of some of your independence and privacy, as well as time as you adjust to working together.

We can be quick to say that people resist change because it's hard. But while it may be hard, people often resist because it means loss, and it's human nature not to want to lose.

BUT….

Recognizing that change inevitability brings discomfort is the first step in moving through the loss!

While I can't guarantee that success always awaits you when you persevere and change, I can guarantee you WON'T experience success if back off from change you know you need to make!

I've worked with advisers who have rationalized that they'd be fine and decided it seemed easier to simply stay with the status-quo. The problem is, later, those people see others who did take action and recognize they really do need to make the changes if they want to move ahead in their business. Then, they are forced to play catch-up, and what could have been accomplished with a small change and only a little pain some time ago, now requires a dramatic shift with major upheaval.

By staying focused on the destination change will bring, those brief unpleasant feelings of loss, vulnerability, and risk will be quickly replaced by excitement, anticipation, and accomplishment.

When facing change:

1. Acknowledge that a change initially means losing something and that will be uncomfortable.
    
2. Identify what will be lost: free time, some pride, a feeling of security…
    
3. Clarify what will be gained: a fee-based book, freeing up more time to be with family, or better health. Recognize the change will bring results that will make your life more enjoyable.

Keeping a clear picture of your desired end result in mind makes overcoming the initial feelings of loss easier, so you can allocate your time and focus to moving toward achieving your full potential.

Keep going,
Paul

Copyright Paul Kingsman 2009

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Speaker, Executive Coach, and Olympic Medalist Paul Kingsman helps financial services professionals overcome distractions, so they can get the money they need, the clients they want, and the time to do what they love. He is a sought after expert on how to make your split seconds count. Having won an Olympic medal by only four one-hundredths of a second, Paul knows the importance of keeping focused and now teaches people how to overcome distractions and achieve their own success. His experience as an adviser for Morgan Stanley and Wells Fargo has given him an insider’s understanding of the unique business challenges faced by financial services professionals and an ability to guide his clients in implementing results oriented solutions.

To find out more about how he can equip you or your team to achieve your own Split Second Success® through his presentations or executive coaching, visit paulkingsman.com/coaching or email him at Paul@PaulKingsman.com

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