I spent 33 years consulting with Olympic and professional athletes, and I’ve found that there are many parallels with the mentoring services I offer to financial advisors like you.
Just like good athletes, financial advisors are gifted professionals. You studied diligently in college, took rigorous training in finance and business, took and passed your professional licensing tests, received ongoing training and learned about a plethora of products you could provide for clients. You understand the basics of financial planning and even know a thing or two about selling yourself to prospective clients.
But are you performing your best?
Many of you have never reached your potential because you continually judge yourself against your colleagues. Or you feel inadequate, overwhelmed and exhausted by the rigors of prospecting and dealing with never ending fiduciary and regulatory changes, etc. So you find yourself underperforming, as many gifted athletes do.
But employing “sport psychology” techniques can help. With these you can supercharge your confidence, dramatically increase your referrals and build your clients’ trust in you.
In my future blogs, I will address a variety of different sport psychology techniques, but here I will address how to come back from difficult challenges, such as volatile markets, and deal with the stress of handling difficult and disenchanted clients.
Building a Comeback “Mind Set” In Challenging Times
Just as athletes need to learn mental toughness skills to carry them through challenging times, you can learn the exact same skills to propel yourself.
Each of you has a trigger event, or events, that set off your insecurity, lack of confidence, fear of failure, etc. The first step is to understand where that vulnerability is for you. For example, is it toxic clients insisting on speaking with you when you are busy, or your superior threatening you by comparing your AUM with that of others in your firm? Once you admit those vulnerabilities to yourself, you can develop the mind set to overcome them.
Just as mentally tough athletes let go of mistakes, wait for the next opportunity and take one play at a time, so can you. This will help you ride the waves of difficult days so you can enjoy weeks of accomplishment.