Simplify your process to multiply resultsArticle added by Wayne Cotton CLU on June 6, 2014
Wayne Cotton CLU

Wayne Cotton CLU

Lake Country, BC,

Joined: December 09, 2013

My Company

Some advisors suffer in mediocrity. To multiply your results, simplify your process for achieving them.

Are you working too hard for what you actually get done? Do you live in a state of complication that prevents true success? Are you focused more on activity than accomplishment? Are you stuck in a rut, repeating the same results year after year?

The trauma

Advisor distraction and diversion, what I will call ADD, kills productivity. If you are easily distracted, you may feel overwhelmed, overloaded and overworked. You may feel frustrated that you are not accomplishing what you know you can. Instead of a business, do you have a bunch of busy-ness? Does your busy-ness keep you distracted, frustrated, immobilized or stuck in analysis paralysis?

The task

Simplify, simplify, simplify. Instead of making things more complex, practice “mature simplicity.” Learn to streamline what you do. Choose model methods instead of multiple methods. Keep it simple to accomplish more. For example:
  • You wouldn’t think to use both Mac and PC operating systems, would you? You would choose the one that works for you.
  • You wouldn’t think to carry five cell phones from different manufacturers because each has some features you want. You choose the one that best fits what you need.
  • You wouldn’t use five or six different fact-finding forms, would you? That would make no sense. You choose the one that best fits your selling or advice delivery program.
  • You wouldn’t think to use four selling or advice delivery systems, would you? That would be ridiculous. You would choose the best one for you, your clients, your stage of growth and your practice.
  • Why would you try to implement eight or 10 marketing strategies? You would use the one that delivers all the ideal prospective clients you can handle, right?
  • Why would you try to work with a variety of different types of prospects? Wouldn’t it make sense to focus on that client profile where you do your best work and be well rewarded for your efforts? Narrow down that great big beautiful marketplace to your best case scenario.
See also: A simple 3-step process for selling life insurance

Focus on model methods

In how many areas in your practice are you using multiple methods rather than model methods? Think about your business process and narrow it down. If you make some decisions, you’ll be far more productive. But what about the products you sell?

But what about the products you sell? You’ll use a variety of products when helping your clients. But if you are focused on prospective clients that fit your ideal client profile, you’ll be able to narrow everything down to a short list of key products that are a great fit for those you serve. No doubt you’ll use some products for different companies. But pick some favorites with great companies and help your clients understand why you have chosen them. While price may be a factor, make sure it's the last on your list of six or eight good reasons.

Don’t be like the young advisor from Idaho who called to say, “The longer I’m a broker, the broker I’m getting." He had agreements with 33 companies and was wasting a horrendous amount of time trying to keep up with all the product pitches that came at him every single week.

Follow the principles of growth

You need guiding principles to keep you moving in the right direction. I like to focus on these five: purpose, profile, program, process and performance. Know what you want (purpose), know who to see (profile), know what you deliver (program), know all the steps to take (process) and track your key performance indicators (performance).

When you simplify and streamline everything you do, you’ll transition from complicated sophistication to mature simplicity. You’ll be shocked at what you can accomplish. You’ll save a lot of time, generate more revenue and, when you combine the two, you'll have more money and free time. Isn’t that what you are looking for?
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