Business-building ideas and advice to move you forward faster.
AdvisorBlast – Quick Tips to Accelerate Your Practice
In this issue: Don’t be intimidated by your competition.
How do you measure up against your competition? It can be easy to assume others in the industry are working more effectively than you because they are more well-known, have more employees, or seem to have more assets. We can quickly believe others are delivering a far superior service to us. But, don’t rush to feeling intimidated!
While it can be helpful and even fun to use industry peers as benchmarks for your own practice and desire to grow to their size and scope, don’t assume you’re not as good as them right now.
I’ll never forget seeing the New Zealand National Swim Team train in my home pool when I was young. They had assembled from all over the country before flying out to the USA. I was excited about seeing these legends in person and watching how they did everything. From their warming up, to training, to completing their workout, my goal was to absorb everything and learn. I was particularly interested in watching the top backstroker, since backstroke was my main event; I’d heard so much about this guy and was eager to see him in the flesh! Even though I was only a skinny 13 year-old, I knew the next year I’d be competing against him and the rest of the “men” at national level.
To my surprise, when I saw him come on pool deck, he looked tired, like he didn’t really even care about what he was doing. He didn’t stretch, was the last in the pool, and, as soon as he dove in, stood up and whined about the temperature. I couldn’t believe it: here was someone going off to represent their country and face some tough competition moaning that the water wasn’t warm enough! As I continued to watch, he drifted into the walls, turning sloppily and not maximizing everything he could from each push-off. Later when the team was instructed to go down to the far end and get ready for some timed sprints, he got out, went to the bathroom, and came back after everyone had already completed their timed swims. He drifted back into the “pack” to remain out of sight, began loosening down with the group, then climbed out and was done.
While a part of me was deflated that the top backstroker in New Zealand approached training like this, another part was elated: if this was how he trained, I knew it would only be a matter of time before I’d be the number one backstroker in the country.
Paul Kingsman is a sought-after expert on how to be distraction-proof. Through his speaking, writing, and coaching, he teaches financial services professionals how to maintain focus and take practical daily steps to successfully grow their businesses and achieve outstanding long-term results. To find out more about Paul and how he can equip you or your team to achieve your own outstanding results, visit PaulKingsman.com.
"2021 has been a great year for my business, and a lot of that was because of what I learned from you, Paul. You've been an advisor, so you get it! Thank you so much for your invaluable transformative coaching and advice!"
Michelle Glass, Glass Financial Advisors