But of course it's not enough. You need to go deeper. There's a difference between being familiar with something and being able to do it. Seek out those resources that will give you more than illumination. Find a mentor, a coach, a trainer, course materials, teleclasses, audiotapes, workshops-what have you-anything that will give you not only information, but experience that directly impacts your daily actions and your ability to build your financial advisory practice.
You may still be resisting this idea: Why now? Why, when I'm making less money and some of my clients are in a panic, should I spend scarce money and time on business development? It's ironic that in the investment business, you tell people that the time to buy is exactly when they're in the emotional place where they don't want to. No doubt you watch people buy when everyone is buying and sell when the market is in the dumps and think, How stupid they are!
Then what about you? Right now is the time when you should be investing in training and working on your skills. This is when you should be investing in your clients. Now. Not when you have more time or more money or more energy to handle the ups and downs. Your clients, and people who haven't met you yet, need you now more than ever.
And, inevitably, when things do get better, they get better for everybody. If you don't take action now, you'll still be in the same place as you were when things were bad. Instead, hone your skills and be poised to surge ahead of the crowd. The good news is that if you recognize this and follow through, it can become your competitive advantage. You don't wait for things to get better. You get better. Now is the time to be great.
© 2003 by Bill Bachrach, Bachrach & Associates, Inc. All rights reserved Bill Bachrach is the author of four industry-specific books, including his newest book, It's All About Them; How Trusted Advisors Listen for Success. For more information about his services or to order his books, call (800) 347-3707 or visit the Web site, www.bachrachvbs.com.