Welcome to the June 2007 Removing Your Roadblocks E-Newsletter. 

This edition of the E-Newsletter includes:

• Quit & Become The Best in Your World


• Norm Trainor's Presentation


• An Invitation To Write For The Advocis Forum Magazine


• Client's Corner – Steve Bakouris, Paul Lauzon, Thomas O'Neill and Duncan Robinson
  
• Pro-Seminars – Viva, Las Vegas


• The End Of 31,000 Kilometres

Quit & Become The Best In Your World

While we were in England, I had the opportunity to read some extremely good books.

One of the books is called, The 4 Hour Work Week, by Timothy Ferris.

The gist of The 4 Hour Work Week is:

1)  Outsourcing everything that you are not professionally qualified to do and everything that you don't enjoy doing … I mean everything.
 

Laura Reilly has already taken this to heart. :-)

Hello all,

I'm pleased to say that the majority of the grocery shopping has now been outsourced!

I placed my order online last night, and picked my delivery time. A retired fellow in a truck just showed up with my entire grocery order, and I paid by debit card. The fee for this service was $10.

(The only item that I'm not comfortable with shopping for online is meat – that I will need to purchase in bulk and put in the freezer.)

All is put away in fridge, cupboard and freezer, and I have just saved myself 3 hours on my Sunday morning. :-)

Now I can go for a bike ride with my husband, instead of grocery shopping!

Wishing all a lovely weekend.

L

2)  Outsource everything that you can hire subcontractors to do in China or India that can work for rupies or yen versus British Pounds or Dollars and

3)  Abolish retirement and take many mini retirements versus waiting till you are too bloody old to enjoy it.

In a sense, Laura and I are taking a mini retirement this week creating our vision for the next three years to 2010.



Here's a Wednesday, June 6th pic of Annie Bradley, Chris Barrow, and Laura at the start of The Tarka Trail, in England. We took the Wednesday off from our Retreat to have some fun and it was one of our all time most memorable days ever.




The Tarka Cycle Trail, England

The following is a summary of, The Dip, by Seth Godin. This is the best 80 page business book that I have ever read. Please note that this a summary of Seth Godin's book and I claim no credit for what I am sharing and only wish that you invest in Seth's book as it has far more than the following ideas that I wish to share.

The gist of The Dip is about "getting" that quitting is a winning strategy. In essence, know when to quit or take a mini retirement to revaluate and outsource, outsource and outsource.

• Quit the wrong stuff.


• Quit the things that do not give you joy. Outsource.


• Stick with the right stuff and be the best in the world at that.


• Don't quit what you are passionate about, just the distractions. No one quits when they can see the light at the end of the tunnel.


• Quit waiting around, being passive is a mistake.


• Coping is a lousy alternative to quitting. Check my article on Coping – Change Or Die, Your Chance Of Failure Is 90%.
• Act like you have nothing to lose.


• Have the courage to quit versus pride.


• It is about your definition of "your world" versus "the world".


• If you can't be the best, why bother. If you can't be number one in your world, quit now.


• Don't rationalize.


• Diversification is a lie. Have ‘one market focus' versus ‘it all'.


• No mediocrity at anything. Ordinary is not good enough. Average is for losers. Playing it safe allows you to be ordinary and blameless.


• Learn ‘strategic quitting' versus ‘reactive or serial quitting'.


• The Dip provides you with the realization that something is worth doing. It is about the challenge.


• Know what you are getting and who you are trying to influence.


• Know if The Dip is too big or too deep, know when you are heading towards a cliff or a dead-end.


• Have the guts to quit the wrong stuff, stick with the right stuff and do one or the other.


• You have to quit regularly to grow.


• Under what circumstance are you willing to quit?


• We fail when we get distracted by tasks that we don't have the guts to quit.

"all experience hath shewn, that mankind are more disposed to suffer, while evils are sufferable, than to right themselves by abolishing the forms to which they are accustomed" – The Declaration Of Independence

Norm Trainor - The Covenant Group

Its 11:51am EDT time on Thursday, May 17, 2007 and let the Blogging and project work begin. I have a full day of travel and will be arriving home at the airport in Comox, BC at 8:30pm EDT / 5:30pm PDT this evening.

Thank you to Richard Westberg, CFP, CLU, President of Advocis Durham  for all of his help in producing the Advocis Durham Education Event – "Preparing, Promoting & Protecting" which featured Norm Trainor, founder of The Covenant Group and myself as guest speakers.

Here are the testimonials that I received from my presentation of Removing Your Roadblocks.

Testimonials from Advocis Durham Chapter – Oshawa, ON – May 17, 2007

"Energy, edge"

"The passion – cutting to the root of the problem. Simplicity."

"Your energy and passion. Concept of unmet needs of approval – determine your values."

"Inspired to continue to plan and expand with business with my 3 assistants and hire a sub-agent to help. Motivated – plan more quarterly than just annual and long-term."

"Perspective! Insight to where I can go and value – I need to build."

"Very alive and communicative – some excellent ideas I can use immediately."

"Reinforce what you need to do to be successful."

"High energy – vision – passion for the business and how to take this to the client by asking tough questions."

"Just do it. Make an appointment with yourself. Top 20 clients. Be accountable for your actions."

"Enthusiasm, content. The concept of unmet needs and roadblocks."

"I liked the part where you talked about self-awareness and the value you can bring to the clients. I loved your presentation."

"Great ideas. Enjoyed your presentation – well done."

Do you know of a Speaking Opportunity?

I was happy with my luck of being the opening speaker and that the best luck of all was that Norm Trainor was on hand to hear my presentation and the next stroke of luck is I had the opportunity to hear Norm speak.

Norm's name has been mentioned many times over the years as many of my clients have done Norm's program and continue to work with Norm and his colleagues today. With respect, Norm Trainor is considered to be the Obi wan Kenobi of the Financial Advisor Coaching Industry.

Having said that, every once in a while, I meet someone in my industry who is the real thing … someone who has intelligence and wisdom along with a strong heart to go along with the intelligence and wisdom and that was my experience of Norm Trainor.

Some say that creating success is about making public commitments. I am going to ask Norm for his thoughts about my presentation and for his permission to publish his thoughts via the following article.

June 12, 2007

Dear Simon,

I enjoyed our telephone call today. Attached, you will find the edited version of your notes.

Best wishes,

Norm

My business includes the components of speaking, coaching and writing and Norm's endorsement will be of help to attract larger speaking events which will lead to continued coaching opportunities providing additional resource material for writing my book.

Please read through for more on Norm's thoughts about the stages of business.

Norm's presentation was entitled, "The 8 Best Practices Of High-Performing Advisors".

Here is a summary of my notes from Norm's presentation. My additional thoughts are in bold italics.

Norm was selected to set up and organize Wilson Learning Canada in 1975 and his experience just shines right through to The Covenant Group which he founded in 1995. You will note that my Blog also serves me as on on-line journal helping me to integrate what I learn over the course of a day.

Financial Advisors are entrepreneurs that happened to choose to become Financial Advisors.

If Financial Advisors started in the 70's & 80's they will be likely coming from a sales paradigm.

There has been a paradigm shift in the Financial Advisor industry from Financial Advisors being sales driven in the 70's & 80's, to being marketing driven in the 90's to building a business that provides customer service in the new millennium.

Profit and sales will increase through the following phases of your business:

Sales driven - years 1 – 5

Marketing driven – years 6 – 12

Business / client service driven - years 13 – 20

When I consider the stage of our own business while taking speaking, coaching and writing into consideration we are in the final stage.

Today's Financial Advisors may not be prepared to be a Financial Advisor because of the industry change from captive agents to independent agents. There are 2000 financial institutions in Canada and the US and only 33 have captive Financial Advisors. That leaves the rest to deal with independent Financial Advisors who are either struggling salespeople or Financial Advisors who are building a scalable and saleable business. I believe that Norm indicated that the vast majority of Financial Advisors are still in the sales paradigm. This makes me think of another notion about Financial Advisor Coaches. There are many "Coaches" and while they invest their heart and soul into what they do and provide excellent results for their clients, they are a dime a dozen. How many coaches specialize in the Financial Advising Industry? How can a coach or Financial Advisor for that matter become an expert when they do not specialize? Few are following the advice about developing a niche market. They are kind of like Financial Advisors. How many Financial Advisor Coaches work with a captive coaching agency like The Covenant Group or The Strategic Coach? If Coaches follow the advice of Dan Sullivan and Norm Trainor then the Financial Advisor Coaching Industry will have more captive coaching agencies in the future.

I was interested to find out that Dan Sullivan of The Strategic Coach worked with Norm before Dan started The Strategic Coach.

The 70's & 80's had far more captive agencies which provided Financial Advisors with in-house training to become better salespeople. It is my thinking that the Financial Advisor unknowingly adopted an employee attitude which leaves them short sighted when it comes to making an investment in their own training today … they are unconsciously waiting for the company to do or provide the training and they must understand that today, the Financial Advisor is the company. I hear the heart breaking comments from Financial Advisors time and time again; "I gave that agency everything I had and then they downsized and dumped me and now I am on my own … Whoa is me".

At one time, The Prudential Group had 27,000 captive agents and today the number is 2,700. Given that many financial institutions have gone public, many have them have increased their profits by cutting costs … the advisor.

The old sales paradigm will not work anymore as today's savvy customer is more concerned with what happens after the sale rather than before the sale. Customers are tired of the old self centered sales approach and forgive me for using this rather crude analogy of; Find'em, F____'em, F____'em and Forget'em.

The 80's brought about the change to the client centered sales relationship. My thinking that this was a shift from the Financial Advisors being more self centered or needing to make a sale to being more values driven and adding value to the customer.

The late 80's brought another change of the banks moving into the insurance side of the business which influenced Financial Advisors into providing a full range of products and services that include; money, life insurance and living benefits. Financial Advisors differentiate themselves by the quality of their advice.

Get back in the life insurance business. It is my feeling that the banks getting into the life insurance business caused a knee jerk reaction from the Financial Advisors that specialized in life insurance causing them to re-focus on money products and they have almost forgotten about insurance.

Many Financial Advisors may be stuck in the old paradigm of the 70's, 80's & 90's and in order to change their paradigm, they must change their beliefs.

Financial Advisors are faced with the increased complexities of sales, marketing and business building and the adjustment to all of these areas of focus can be gut wrenching.

Financial Advisors have to build their business themselves and they can't do it alone.

Coaching will help you to grow and build your business. In nature, it is either you are growing or you are dieing. Nature abhors stasis. If you are not changing, you are going backwards.

Financial Advisors attend educational events for three reasons:

1. CE credits
2. They are struggling and they need to do something about it
3. They want to grow

95 out of 100 Financial Advisors do not have a well thought out vision and business plan.

Two questions to help you identify your vision:

What role do you want to play in your business?

How big do you want to become?

North American's are fascinated with size. It is not about size. It is about meaning. It is about getting clear. To do this, you must have systems. This is why I work with clients to inspire themselves from the inside out through getting their unmet needs met which will open the pathway to developing their values that will support their vision, business plan and systems. Click here for more information on "The significance of unmet needs, values and beliefs and Removing Your Roadblocks".

The Million Dollar Round Table suggests the following steps:

1. Understand your natural market and earn $125,000 in income. This creates a ceiling of complexity.

2. Hire an assistant

3. The assistant creates more time for the Financial Advisor and this has them running out of their natural market

4. Hire a marketing assistant to increase sales and earn $500,000 in income

5. Build a financial firm

6. Attract Financial Advisor associates

These steps will require systems. The challenge is that most Financial Advisors were set up to sell, not set up to deliver services and customer service.

Coaching will help you to grow from the inside out. It is said that we choose our work to heal ourselves and this is supported by the book, "The Wounded Healer", by Henri Nouwen. I often reflect on whether Financial Advisors choose to be a Financial Advisor to create value for others and build a financial legacy for their clients … or … are they trying to heal their past pain around not having enough money. Are you a Financial Advisor that adds value or one that is trying to survive? If you are trying to survive, that is all you will ever do. This speaks to my observation that the majority of Financial Advisors invest very little in their Personal and Professional Development.

Coaching will hold you accountable to your dreams … a covenant …

Industry research suggests that coaching fees run from $5000 to $25,000.

The average Financial Advisor will invest between $2500 and $3500 in themselves. Again, it is my thinking that Financial Advisors have been lulled into a subconscious belief that they are employees because of the way that they were introduced into the Financial Advisor industry with captive agency funding their initial training. Once their three to six month training is over then for the majority, it is wham, bam, thank you Mam … I'm glad I got that Professional & Personal Development training over with … for life.

The Covenant Group aligns their marketing with the independent Financial Advisor and / or Financial Institutions.

Many Financial Institutions co-sponsor The Covenant Groups Programs for the Financial Advisors.

The Covenant Group's program delivery methods serve the two types of learning styles identified by Peter Druker; readers and listeners. 80% of Financial Advisors learn by listening, 20% learn by doing.

Click here to find more about The Leading Advisor Coaching Program.
 

 An Invitation To Write For The Advocis Forum Magazine

Our Toronto Independent Financial Advisor Summit Presentation of, "Removing Your Roadblocks" attracted a real win. We have been invited to write an article for The Advocis Forum Magazine. Here is a speaking testimonial from Michael Tourond who invited us to write the article.

"I consult with advisors across Canada. Your content hits the nail right between the eyes! There is someone out there that really gets it."


 

Michael Tourond
Best Practices Chair, Advocis Greater Hamilton Chapter
Director Of Communications, GAMA Canada
Tourond Financial
mike @ tourondfinancial.com

 Client's Corner - Steve Bakouris, Paul Lauzon, Thomas O'Neill and Duncan Robinson

Here are a few of things that my clients are doing to add value to the community and to their clients.

Steve Bakouris - Freedom 55 Financial

Steve Bakouris, B.A. Econ. of Freedom 55 Financial in Regina, SK is making a difference.

I'm inviting you to help to sponsor Steve to help him raise money for The Hospitals of Regina Foundation - Great West Life Charity Golf Tournament which was held on Thursday, June 7, 2007. You can still contribute and Click Here To Make A Donation

Here is a link to Steve's Web Site. 

Paul Lauzon - Lauzon Financial Advisors Inc.

Here is the cover of Paul Lauzon's new Marketing DVD and a link to Paul's Web Site.  I see the value of a Marketing DVD as two fold. The biggest value is the preparation helps you to clarify your message and of course there is the value of being able to magnify your message though the use of technology to duplicate yourself.

Thomas O'Neill - Thomas O'Neill & Associates Inc.

Here is the main page of Thomas O'Neill's new Web Site and a link to Thomas' Web Site. This web site sets the standard of what a web site should look like!

Duncan Robinson - Freedom 55 Financial

Duncan Robinson is once again doing his annual Ride To Survive Fundraiser for Cancer this June 21st, 2007.

Please join me in helping Duncan to meet and exceed his goal.

The following is an excerpt from Duncan's Ride To Survive Fundraiser Web Site:

This is one tough day. 400 km. We leave Kelowna at 4:00am and arrive back in Delta BC. approx. 9:30pm. 17hrs. of riding but worth every stoke if we come one step closer to battling Cancer. This is pale in comparison to battling Cancer, could you imagine. My son Michael battled Leukemia for 15 months and sadly died in July 1997. It changed my life forever, so this ride means so much to me as I remember him every day, he was so special. I am also thinking about so many others who are now battling Cancer, my next door neighbor she is only 16yrs. old, my brother in law, and some close personal friends. Will you pls. consider helping me reach my goal of $1,000.00 You never know you may be diagnosed next? Thanks Duncan

Here is the link so that you can donate on behalf of Duncan's worthy cause: 

Here is a link to Duncan's Web Site.
 

 Pro-Seminars - Viva, Las Vegas

Click here for more detail on Pro-Seminars 2007 National Advisors Conference. 
 

 The End Of 31,000 Kilometers

It's Saturday morning June 16th and I have just finished writing this edition of my E-Newsletter.

We are blessed that the market place seems to be a-buzz as we are getting more and more inquiries and e-newsletters subscribers through the internet.

Here are two comments that I clipped out of the replies from the client inquiries:

"I heard about you through a financial advisor that is working with you, that I take The Strategic Coach with".

"I read your article on Emotional Retirement and you are describing me".

The response to our speaking is getting stronger and stronger.

"Sincerity, humor, enthusiasm – genuine concern about the succession problems of ageing financial advisors. He is much more computer savvy than expected with lots of credible research to back up his points. Simon distinguished himself from being a motivational speaker. Simon's presentation is all solid practice management material and ranks right up there with comparable speakers like Wayne Cotton."

Terry J. McBride, B.Comm., CLU, CFP
Tax and Estate Planner
President, Advocis North Central Saskatchewan (2007)
Raymond James Ltd.
Saskatoon, SK
terry.mcbride @ raymondjames.ca
www.smithwoolsey.com

Terry J. McBride and Simon Reilly, May 24, 2007

"Simon's Removing Your Roadblocks To Success Presentation was far better than I expected. Simon's energy along with the presentation captivated the audience and many were furiously taking notes. We all felt that we needed to hear more."

Laurianne Osmak, CLU
Programs and PD Days Chair, Advocis, Central Saskatchewan (2007)
Insurance & Investment Specialist
Rudichuk Agencies Ltd.
Wakaw, SK S0K 4P0
losmak @ sasktel.net
www.rudichukagencies.com
www.advocisnorthcentralsask.com

We are being invited to speak and write at more and more national venues and our one on one coaching practice is sold out for the summer with clients that I really enjoy working with and this is because of our efforts to be the best in the world at what we do.

When I return on Tuesday, June 19th, from my Removing Your Roadblocks speaking presentation to Pro-Seminars in Calgary, AB, I will have racked up about 31,000 kilometres of travel in the past six weeks.

I am truly looking forward to being off the road until the very end of August. This will give us the time to focus on quitting the wrong stuff, to ultimately allow us to do the things that give us joy, and reinvent ourselves to deliver "Removing Your Roadblocks" in a brand new way this Fall. This will enable us to be the best in the world to assist our clients at being the best in their world at what they do.

Buckland House, Devon England

Finally, Laura and I had a fantastic time in England and you can click here to Read Through Our England Travel Blogs. 

Thank you for sharing your time.

Simon Reilly



Simon Reilly
The Financial Advisor Coach
sreilly@leadingadvisor.com
1 877 248 6019