The difference between those who excel and prosper and those who languish does not lie in their technical knowledge, niche or even their marketing strategies. It is based upon having the right thoughts, beliefs and habits, which lay the foundation for success. Creating success has three main components: the right thoughts, a clear vision and taking smart actions. Most advisors are so focused on taking actions that they completely miss the first two crucial steps. This leads to self-doubt, increased stress and underperformance.
I speak from experience as a top-producing financial advisor. I built and ultimately sold my wealth management practice, which I grew organically using nontraditional tools for success. In this program, I will share some of the most important methods I used to not only build a profitable business, but retain employees (in 28 years I never had an employee quit) and maintain healthy work-life integration.
I will discuss the difference between abundance thinking and a scarcity mindset. Here is my model with abundance and scarcity on the vertical axis respectively and inaction and action on the horizontal axis. [visual] The upper hand quadrant (abundance/inaction) are wishes. The lower left quadrant (scarcity/inaction) brings anxiety. The lower right quadrant (scarcity/action) is when you are clinging to a result, which spurs overwhelmingness. The upper right quadrant (abundance/action) brings success and prosperity.
This discussion will not only help you identify limiting thoughts, but also help you understand your clients’ thoughts and beliefs. I will take you through a process of identifying the areas where your scarcity thoughts creep in and areas where you are abundant thinkers. Later, I will share strategies for clearing limiting beliefs and replacing them with helpful, productive ones.
Next, we will cover how to calm the mind in a distracted busy world. Approximately 47 percent of the time, people are thinking about something other than what is happening in the present moment. Take a “moment to arrive,” to experience feeling more present and calmer. This process is a short meditation. It is a process you can bring back to your offices and teams to support more effective meetings and a deeper connection. This can be adapted to your comfort level and your team.
Using a journaling activity, you will have the opportunity to explore what you believe about being an advisor and if these beliefs are helpful or unhelpful. It might be interesting for you to know that journaling has been shown to be quite helpful in processing emotional situations and leads to a better mood, which fosters productivity. Spera, S. P., Buhrfeind, E. D., & Pennebaker, J. W. (1994) showed that a group of laid-off professionals journaling about their feelings for five days (20 minutes each day) found new jobs at a much higher rate — after eight months, 68 percent versus 27 percent for the nonwriting control.
Here are three different journaling prompts:
- What I believe about my abilities as a financial advisor is …
- What I believe about my business is …
- What I believe about the future of my business is …
Next, here are power moves you can use to build a prosperous mindset, which include:
- Establish a “Feel Good File.” This is an actual file and/or a computer file where all correspondence from people who have acknowledged your good work is filed. Periodically reviewing the Feel Good File is a reminder of the positive impact you make.
- The cancel/clear technique. When you notice limiting beliefs, thoughts or words, pause and say “cancel/clear” (cancel that thought, clear it away, and replace it with a more helpful thought). This process can immediately shift your mood and serves to train your brain for more supportive thinking.
- Ask “What is the gift, learning or growth?” This question can help to reframe difficult or discouraging situations to get through them more quickly.
- Get support. Whether this is the professional support of a therapist, coach or mentor or support from peers, friends and family, this can be helpful for staying positive and on track.
- Start your day well. There are benefits to establishing a morning routine and a detriment to checking email and social media right after waking.
- Focus on gratitude and giving. Gratitude has been shown to significantly improve mood and even income. Generosity has comparable positive effects.
- Breathe/meditate. This is the most important practice in my personal and business life. We will take a long, slow, deep breath as a group to experience the benefits.
Commit to taking action on something you learned. Share with a partner what you learned and at least one action you will take within a week of returning to your office.
After this workshop you will know:
- Why training your thinking is crucial to your business and personal success
- How to use mindfulness to boost your connection with clients and your confidence levels
- The brain science behind why mindfulness and visualization techniques work
You will have:
- “Micro” practices you take with you to use throughout your day to enhance calm and clarity
- Strategies to share with your team to work more effectively and build resilience
- A better understanding of your own limiting beliefs and how to clear these
You will feel:
- Calmer and clearer after experiencing a variety of mindfulness activities
- More connected to other attendees after dyad exercises
- More aware and less on autopilot
- Excited and inspired to bring these tools back into your post-conference lives