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Welcome to
"More Profit & More Time"
This is the 15th of the Month
“Lite” E-Newsletter version. The “Full” version will be on
August 1st.
The “Lite” E-Newsletter version includes a
Feature Article and Highlight Articles from my Blog from the
past two weeks.
In this issue:
Part
1 – Coaching Case Studies
How Do You Give A Referral? To
Give Or To Get?
Photos by Kathryn
Testimonial
Part
2 – Resources & Classifieds Section
A Few
Reminders + New Password to Leading Advisor Resources
Tell
Your Friends
Part
3 – Reilly's Reflections & Rants
"Ask the Advisor" Free Teleclass
Blog
Highlight Articles;
It Is Never Too Late To Apologize
Values Are The Energy Of
Creativity & The Creation Of Business
What do hiring mistakes cost?
Compliance and the Elimination of
Rogue Behavior
I would love to hear your feedback, let me
know what you think.
Simon Reilly
sreilly@leadingadvisor.com
Part 1 –
Coaching Case Studies
How
Do You Give A Referral? To Give Or To Get?
How you give a referral will be a reflection of how you
receive referrals.
How do you give a referral? A better question to ask is …
Are YOU giving the referral to “give” or is your EGO giving
the referral to “get”?
Let me explain.
When YOU give a referral to “give” value it comes from the
place of YOU wanting to add value to both;
Both people that you are wishing to serve will get that
value is being added. This is because YOU are coming from
the place of wanting to add value and that YOU have no
agenda other than to add value to both parties.
It is kind of like the movie “Pay It Forward” and if you
have not seen it, put it on your list.
The idea of “Pay It Forward” is to perform three acts of
unsolicited kindness with the only requirement being that
each recipient of his goodwill must “Pay It Forward” to
three other people. And so on, and so on, and so on...
Without an expectation.
Before I go further, let me offer you my definition of EGO.
Some call it the Small Brain versus the Big Brain. And many
of us have the Small Brain (EGO) wrapped around the Big
Brain and most of everything we do is limited in some way.
EGO lives in the Small Brain that is about the size of a
walnut that sits on top of the spinal column. It serves a
purpose when a saber toothed tiger is about to tear you
apart and it sends a message to the Big Brian to run like
hell. If you can imagine 1 million years BC, back on The
Plains of Serengeti when your ancestor woke up and had two
thoughts for the day. Thought #1 was “what am I going to
eat”? Thought #2 was “what is going to eat me”? The EGO’s
main concern was the unmet needs of safety, security and
survival. Today’s EGO has evolved by adding additional unmet
needs to its list that include; approval, control,
perfection, power, recognition, safety and the grand daddy
of all unmet needs, worthiness.
So again, are you using the Big Brain or is every decision
you make based upon the Small Brain’s unmet needs of;
approval, control, perfection, power, recognition, safety
and worthiness?
When your EGO is giving the referral to “get”, the EGO’s
self serving agenda has the potential of really clouding and
confusing the value that could be added to whom you may be
trying to serve.
What I mean by clouding and confusing the value is …
Ever met a salesperson that you didn’t like? Probably. Was
it because they were too pushy? Did you say under your
breath “I wouldn’t by a ______________ from them if they
were the last person on earth”?
Was it because they seemed or their EGO seemed to have a
hidden agenda?
My message to you is that all that they had going on below
the surface was that they had an unconscious unmet need of
approval or recognition that they were trying to get met.
That is all. Forgive them for they know not what they do.
The point that I want to make is that they or their EGO had
an agenda.
And if you apply the same analogy to a referral … having an
agenda … an unconscious EGO based unmet need of approval and
recognition below the surface and trying to get the unmet
need met by giving a referral …
The referral will come across as having some kind of agenda
…
The referral isn’t or doesn’t come across as giving and
adding value. The referral will come across as getting and
most likely getting some EGO based need of approval or
recognition met at the same time.
Referrals that are based upon getting an unmet need of
approval or recognition are often based on;
* “look how great I am”
* “look how great I am and you need this too”
* “look how great I am and I am always better than you and
you need this too”
And this unmet need based referral, giving to get will
likely end up … and I’ll leave that up to you to figure out.
Oh yeah! Remember … How you give a referral will be a
reflection of how you receive referrals.
Don’t you just love to receive those referrals where the
person giving the referral wants some kind of commission or
fee?
Remember … what goes around, comes around.
Photos by Kathryn
Next we had a 1pm appointment to update the photographs for
the web site at Photos by Kathryn.
The photos that are on the web site were done on a grey day
last October and it is time that they were updated as we
want to brighten and update the look.
I wasn’t at Kathryn Langford’s Studio 3 minutes before I got
the difference between Business Photos and Business
Portraits.
Kathryn conveys that you are dealing with a “real”
professional photographer as she mixes her clarity,
decisiveness and creativity along with a natural talent to
bring out your best and catch you in “the moment”. I haven’t
seen the results and I just sense the creative quality that
will come through Kathryn’s experience and talent.
Here is the
link to Kathryn’s site so that you can see what I mean;
Photos By Kathryn.
Testimonial
Simon's years of experience in professional
and business development really comes across, his
professional speaking style is very inspirational and one
really comes away with ideas and tools that they implement
into their business right away.
Frank C. Allen – CFP, CLU, C.H.F.C
frank @ mr-rrif.com
The Frank Allen Financial Group Inc.
Past President Greater Nanaimo Chamber of Commerce
Past President of The Rotary of North Nanaimo
Nanaimo, Canada
Part 2 –
Resources & Classifieds
A Few Reminders
Here are a
few reminders to go to;
Please be advised that
the following user name & password are required to
access our newly updated resources section on the
Leading Advisor Web Site;
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leading
Password:
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Please
retain
the User Name and Password for your records.
Tell Your Friends
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Click here if
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More Profit & More Time.
Part 3 – Reilly's Reflections & Rants
Sign Up for the Free “Ask the Advisor” TeleClass
Now - space is limited!
Are you a Professional or Business Owner?
Are you consumed with the demands of maintaining profitability,
sales, clients and personnel?
Are you;
- Working long hours?
- Struggling to create business systems that work?
- Losing enthusiasm for your business?
I am offering a Free “Ask the
Advisor” TeleClass that shares the secrets and proven
business models of successful Professionals and Business Owners to
help you get what you want out of your business to create More Profit
& More Time.
During the Monthly TeleClass, I will cover the components
that are required to build a step-by-step plan that will get you there
quickly, clearly define success for yourself, and get you where you
want to be once and for all so that you can create;
- More energy from working fewer hours
- A balanced home life
- A new revitalized vision and passion for your business and personal
life
What would your business and personal life be like if;
- You had a clear Vision of where you want to be
- Your Vision and Business Plan were aligned with your Values
- You had clear 90 day goals that you are meeting and exceeding
- You had a system for measuring your progress to know that you are
winning
- You had the mastery of time management
These are just some of the topics that
I will be covering.
Sign up today for your
Free “Ask the Advisor”
TeleClass, it’s free!
Click here:
http://www.leadingadvisor.com/teleclass/
Blog Highlight Articles;
- It Is Never Too Late
To Apologize
- Values Are The Energy
Of Creativity & The Creation Of Business
-
What
do hiring mistakes cost?
-
Compliance and the Elimination of Rogue Behavior
It Is Never Too
Late To Apologize
Here is a copy of a letter that I wrote July 6, 2005.
Dear ___________,
I’m writing in follow up to a Speaking Presentation that I
did for you for you back in 1999.
As I recall, you were not happy with my presentation.
At the time I did not “get” what you meant and how you were
feeling.
This has stuck with me and from time to time I revisit this
in my mind.
Today I ran across my computer notes on the presentation
that I did.
Today I “get” the message as to why you would not have been
happy due to the lack of substance in my 1999 presentation.
The presentation was all about how great coaching is and it
lacked enough practical hands on substance that an advisor
would have wanted. The kind of presentation that I would
loath anyone to give today. I am sorry if I caused you any
embarrassment.
Today I am offering you a long over due apology and I am
sure that it is long gone from your mind. None the less, an
apology is due.
Without sounding too self serving;
* my apology is generated by the comparison of the work that
I did back in 1999 compared to today with 6 more years and
hundreds and hundreds of hours of work experience working
with financial advisors.
* I’ve been working for the past 6 years doing one on one
coaching with financial advisors doing very little
professional speaking other than team building workshops and
sales training workshops.
* I launched a web site last December and I find that the
next step to launch the site is to offer professional
speaking which I can now more than hold my own with.
* I am successfully working with clients that are from your
company and it is too small a world to leave this
incomplete.
Thank you for understanding.
Simon Reilly
Values Are The Energy Of Creativity & The Creation Of
Business
Think about … The Creation Of Business brings to heart and
mind the feelings of adventure, confidence, energy,
excitement, fulfillment, joy, happiness and thanks.
And for me, these are based upon my Values of; attraction,
currency/energy, encouragement, partnering/people,
professionalism/quality/service, sense/wisdom, teaching,
understanding/empathy and venture.
And as we have now finally completed our web site and all
the pieces that go with it, join with me now as
I list the series of steps to take to introduce the web site
through prospecting for professional speaking;
-
Identify
associations and companies that are putting on
conferences, study groups and training days.
-
Call them
to find out the person that is in charge of booking
professional speakers for the event.
-
Send and
introductory package that includes a cover letter and
one sheets that describe the professional speaking
topics.
-
Call them
in follow up to request a telephone meeting.
-
Meet with
them for a personal introduction and to demonstrate the
benefits of the professional speaking topics.
-
Request
the opportunity to speak.
-
Follow up.
-
Send
e-newsletter.
-
Follow up.
And some may say! Holy sh*t! You must be kidding! Identify,
call them, send them, call them, meet them, request, send …
???
This sounds like too much work and just think. Call them!
Thud! What about the fear, the rejection, the potential
defeat …
My view is different.
The above 9 steps are the Energy Steps To Creation.
Every time I take one of the steps they remind me of the
energy that is present when creation happens along with the;
* feelings of adventure, confidence, energy, excitement,
fulfillment, joy, happiness, joy and thanks.
* values of attraction, currency/energy, encouragement,
partnering/people, professionalism/quality/service,
sense/wisdom, teaching, understanding/empathy and venture.
And when I come from this place of creation and take action
I believe that I am a conduit to create the above energy,
feelings and values with all whom I communicate with.
Now that is purpose!
We are in the process of launching a product to eliminate
the costs of hiring mistakes. I thought that I would share
the writing that has been developed so far.
What do hiring mistakes cost? Leading Advisor eliminates
costly hiring mistakes and saves you the 6 months to
discover the following problems with Sales Candidates before
you hire them:
* Dick has an inherent fear of closing!
* Jane represents herself with more authority than she has!
* Tom generates ulcers in sales managers!
* Dick resists participation as part of the team, unless
seen as a leader and openly competes for control with the
sales manager.
* Jane promises more service than she can deliver and
creates dangerous situations by failing to document her
promises.
* Tom is self-depreciating (puts self down) - doesn't
project self-confidence!
* Dick comes across as a high-pressure sales person, which
antagonizes the prospect and jeopardizes the
sale.
* Jane takes rejection personally, and may not close to
avoid pain!
* Tom is reckless and oblivious regarding rules and policies
set by management.
* Dick closes so hard that he causes the buyer to think of
objections, which may be excuses rather than real
objections.
* Jane dislikes routine work - fails to complete call
reports, etc.
Problems with Sales Candidates are often associated to the
term Unconscious Values & Behaviors Adaptation.
Why does it take 6 months to discover the above problems in
Sales Candidates? Does your Sales Hiring System have
safeguards to identify problems in Sales Candidates?
What did the last hiring mistake cost you? What is the
biggest challenge for you when hiring Sales Associates? The
fear of and making a costly hiring mistake. A Fortune 500
Company determined that a hiring mistake could cost your
company 7 times yearly earnings for the position in lost
time, earnings and proprietary information going to your
competition.
I ran across this article that I wrote back in 2001 and it
is still relevant today.
One Rogue Advisor’s Behavior and Questionable Acts places
the entire profession under high scrutiny.
Regulatory associations are contemplating making it
mandatory for dealer firms to report complaints to the
associations with the publication of data bases of
disciplines against financial advisors with public record of
problems that firms and their representatives have
encountered.
Unfortunately, emphasis is placed more upon performance
which can be Unmet Needs-based versus superb service which
is always Values-based.
Individuals who do well at the output level can be given a
great deal of slack and a great deal of recognition
suggesting that some financial advisors may be tempted to
act in questionable ways. This is not to say that this is
direct encouragement from the firm but is an added
temptation.
The Unmet Need of Recognition along with the Unmet Needs of
Achievement, Approval, Control, Respect and Security are all
symptoms of Rogue Advisor’s behavior and questionable acts.
The challenge is that the source of the financial advisor’s
fulfillment is from outside of themselves versus from
within.
An Unmet Need of Approval will override or dominate a
financial advisor’s judgment of a client’s suitability
relating to the “Know Your Clients” rule or conflict of
interest. Financial advisors have a responsibility to
provide their clients with recommendations on investments
that are only suitable for them. What an advisor tells his
clients about an investment can be very interesting. If a
financial advisor has an interest in a particular area, such
as tech stocks, he may come to believe that he knows a lot
about this particular area. Instead of giving clients
well-researched information, he is giving information that
is designed to encourage them to invest enabling the
financial advisor to meet their Unmet Need of Approval.
If we equate losing a client or a commission with the Unmet
Need of Security, at least metaphorically, people in
lifeboats often act in a way that is less than
philanthropic.
The insatiable drive to get the Unmet Need of Achievement
met from selling new clients will cause failure to keep up
with current regulations and current client file updates
relating to changes in clients careers, family status,
income and risk tolerance.
One of the biggest mistakes a financial advisor can make is
to assume that because a client talks aggressively about
investments, that he actually is aggressive. The client may
be influenced by his own Unmet Needs of Security causing him
to be overly aggressive. As a financial advisor, if you have
a client who is making quick decisions or someone else
influences the client’s Unmet Need of Approval and you think
that they are wrong, you may want to consider parting ways.
If the client does not agree with the financial advisor’s
style, the advisor might be tempted to do what the advisor
thinks is better, but that will lead to trouble. The Unmet
Need of Control could influence an advisor to sign on behalf
of clients and filling in blank or incomplete forms without
the client being present. The Unmet Need of Control could
influence an “I know better than you” mentality; it is not
necessarily spiteful just a belief that what the client
wants or needs can be accomplished in a better way than what
the client has set out.
There are many ways to for the financial advisor to reach
the client’s goals. It is a matter of managing the client’s
expectations and to understand the concept of Values and
Unmet Needs-based goals.
If the client and the advisor disagree with an investment
strategy, the advisor does not have to have him as a client.
It takes a financial advisor that has identified and met his
Unmet Needs allowing him to be detached, brave and
professional to resign from an account but the financial
advisor will never be in trouble with compliance.
… ideas
for Compliance and the Elimination of Rouge Behavior taken
from “Compliance Check” – Advisor’s Edge Magazine December
2001 | 