Describe the days you have enjoyed the most throughout your life. Make a list of all of them. See what is common and what makes them unique. That is what you want the rest of your life to be like. Try it.
Browsing Posts tagged dreams
How are your New Years resolutions going? For many they have fallen by the way side like excess baggage. Yet at the time you created them, they were important to you. What changed? Maybe nothing. On reflection they may still be important to you. So why are they no longer active?
These questions reveal a problem we all face, both personally and as business owners. We and our clients want to make changes, but in the end most never happen. The dream, goal, or desired outcome is real, but unfulfilled.
There is a simple two word answer. NEXT ACTION. Without a defined next physical action our dream, goal, desire, or resolution is simply a nice slogan. Look back at what you resolved at the beginning of the year and identify the next physical action. Then block off time on your calendar this week, and set an appointment with yourself to complete that next action. Then identify the next action and set another appointment with yourself for the following week.
In less time that you can imagine today you will have accomplished your desired outcome and can set something new. Twelve months from now you will be amazed at all the things you have accomplished.
In December I resolved to begin the P90X Fitness Program in January. After the first month I am amazed how well I feel. Having just turned fifty-three, I look forward to seeing my abs again. Shedding 11 pounds and 5.4% body fat in a month, this program’s discipline of daily next actions makes this program successful. What desired outcome to you have? What desired outcome do your client’s have? Make them a reality by identifying the next physical action.
One important aspect of your ability to retire is the need for a clear vision of your desired future, a life dream. For most this is a faded, out of focus, black and white photography of the future. It needs to be a wide screen BlueRay movie with surround sound, clear, crisp, and with brilliant detail.
Since most couples do not have a clear vision of their future, their advisors should facilitate creating this dream by asking provocative questions. Because how can a couple hope to have the life they desire in the future if they do not know what it will look like? How can you invest for an unknown future?
The following questions may help create your dream future:
No matter what business you are in, everyone wants to maintain and enhance their lifestyle throughout their lifetime. This basic desire is forgotten many times when clients visit their financial advisor. The products and services offered by the advisor are insignificant if this primary concern is overlooked. Why is the most important financial concept rarely discussed?
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The following notes from the conference call today is an expansion of what I have been discussing with my coaching clients over the past several months.
Be positive.
Clients do not need you to parrot the negativity of CNBC or the local paper. They need hope in a times of crisis, not someone to shout “the ship is sinking.” If the market is going down stating the obvious is of no value. Your job is to be a valued added strategic partner. You help them achieve their dreams. In difficult times clients are distracted from their dreams and you must first deal with the distraction before you can refocus them on their dreams.
Two Great Resources
We are lucky today to have two great resources from knowledgeable experts to help in refocusing our clients.
Fed Chairman Bernanke’s Speech to the Economic Club of New York, NY on October 15
Click here for the speech.
- The speech is good, but the important information is in the answers he gave during the Q&A.
- This is not 1929-32 - we learned from our mistakes. Hover waited three years to respond and then tightened money. Fed acted immediately and loosened.
- Fed Reserve has doubled in size, giving it a greater ability to impact the economy positively.
- Everything hinges on the banks lending money again.
- Therefore the Fed’s money will be used to stimulate the economy, if a bank does not lend money they will not be given money. They will learn quickly to start lending.
What controls the market?
What makes the Market go up? Cash flow. What makes the market go down? Lack of cash flow.
Cash flow into the economy is cash into the market. The infusion of $800 billion into the economy will be a stimulus
See Mastery Habit - Never Follow Institutional Managers During Extremes in the Stock Market
SO WHAT DO YOU DO NOW IN YOUR PRACTICE?
First, realize what is happening - you are surrounded by a crisis situation. People are panicking and need your help.
Second, respond properly to the crisis - with a calm, clear head.
Third, act quickly - great leaders do not delay. Rarely does delay improve a situation, it just postpones the problem. Be decisive.
See Mastery Habit - In Good Times Focus on Clients, In Bad Times Focus on Prospects
To review:
- Prepare yourself
- Settle clients’ worries through a rational argument using mass communication
- Ask if they feel a need to reassess there risk and comfort level
- Offer an opportunity to help others they know who are not being communicated with properly
- Focus on prospects
How to Focus on Prospects
- Add paragraph mentioned earlier to the bottom of your mass communication.
- Contact every existing prospect, even those who told you to call them later. Offer them a “no cost, no obligation” analysis.
- Call your Top 25 and ask for an introduction to other they know are worried. This is the only time you can do this without risk.
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