How many people actually hit their goals? According to a University of Scranton study, only 8% of people hit their New Year’s goals. I believe that and I believe it extends far beyond New Year’s.
Is there a common trait among the 8%?
That question was addressed by Albert E. N. Gray in a speech given in 1940 to the attendees of the National Association of Life Underwriters convention in Philadelphia. The speech was entitled The Common Denominator of Success. Gray was a sales executive with Prudential insurance. He was well-known for his speeches, especially this one. Perhaps you’ve read it. If not, I suggest you do.
Gray opened his talk that day by admitting that he was tasked with directing the efforts of men and women who were trying to achieve success but he did not know what the secret of success really was. He had a lot of knowledge but not the most important knowledge of all.
Gray had always assumed that the common denominator of success, the shared trait, was hard work. But, upon reflection, he realized he knew a lot of hard workers who were not particularly successful. Hard work might be an ingredient of success but it was not the key.
After pouring through biographies, autobiographies and dissertations of successful people, he saw a trend. The one thing all successful people share is that they have formed the habit of doing things that failures don’t like to do.
Gray’s right, of course. Think of how many talented people you have seen fail in our business. Think of that one person you thought would never make it, yet he or she rose to the top. Either you have good habits or you don’t.
Gray pointed out that those things failures don’t like to do are the same things all people don’t like to do. Success is not attained by doing only those things we like to do and not doing the things we don’t like to do.
Prospecting is a case in point. Nobody likes calling people who may very well not want to see them. Building a business is hard and involves rejection and setbacks. It’s natural to look at successful financial Advisors and wonder if they actually enjoy prospecting. They don’t. They don’t enjoy it any more or any less than average advisors. Yet they are in the habit of doing it. They got where they are by realizing that doing so allows them to accomplish what they want to accomplish. Gray makes the point that failures opt for pleasing methods and successes opt for pleasing results. Big difference.
It takes enormous determination to get in the habit of doing something we don’t like to do. It’s much easier to lower our expectations. Some people would rather go without than endure the difficulty of doing what needs to be done in order to ensure success. Those who succeed have a strength of purpose.