Giving you the right track to run on
A fortnightly pearl of wisdom to fast track your success
CHRISISM #2 - Failure Cannot Live With Persistence
27 October 2015
So what is the only thing you have to do to guarantee your success as a financial adviser?
In order to answer this question, you first need to consider what it is that makes you successful as a financial adviser — and I’m sure you would agree that what makes you successful as a financial adviser is a quality client base, a quality client being someone who is looking for a long term business relationship with regularity and continuity of service and who is generally happy to refer other likeminded people to you.
Slightly harder to define is what constitutes "success", and of course this will vary from individual to individual depending on their goals and aspirations. However, i think we can agree that you are successful once you have a client base that will generate the level of revenue you require simply by looking after your existing clients and continuing to offer a high quality ongoing service.
The number of clients required for you to achieve a position of total financial security will not only depend on your goals and aspirations, but also on the profile of your client base especially with regard to average age, earnings, net wealth etc.
However, for each and every one of you, there will be a magic number of clients that you will need to acquire to achieve total financial security, and this magic number could be as low as 100 or as high as 500, but whatever the number is, the same principle will apply:-
The only thing you have to do to guarantee your success as a financial adviser is to STAY IN THE BUSINESS, because as long as you stay in the business you can’t fail to acquire the number of clients required for you to be successful.
The only people who fail as financial advisers are people who leave the business, so the only question becomes "How long it will take you to acquire the magic number of clients?” and that will simply depend on how much Of a hurry you are in and therefore how hard you work.
The Risk Workshop by Chris Unwin
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