Being Coachable Is A Competitive Edge
Elite athletes and high-performing financial advisors have remarkably similar mindsets. Each one knows that talent alone is never enough to be the best because everyone they compete against is talented. They know having a will to win is important, but that will only take them so far because everyone they go up against wants to win. With all else being equal, one thing that separates the best from the rest in either profession is coaching.
Success Is Never A Solo Journey
Whether you’re an athlete or advisor, a coach can be the conduit that transforms your potential into performance. It’s a collaborative partnership that can take you where you can’t get to on your own. NFL Hall of Fame football coach Tom Landry explained it simply:
“A coach is someone who tells you what you don’t want to hear, who has you see what you don’t want to see, so you can be who you always knew you could be.”
Formal in-house training programs offered by financial firms are one stage in an advisor’s learning process. Unfortunately, most are structured as one-size-fits-all training programs and not every advisor learns at the same pace. Everyone has different strengths and weaknesses and it’s important to know exactly what they are, but sometimes advisors can’t see themselves clearly enough because ego or complacency gets in the way. This is where a coach can come in and make a difference. A coach can assess your capabilities with a level of candor and clarity that you can’t provide yourself.
Seize The Competitive Edge
It doesn’t matter whether you earn a living as an athlete or advisor. Performance will always be a primary indicator of your success and it will constantly be measured. If you are playing to win, your search for a competitive edge is never ending. One place you can find it is with a coach who has been where you are and where you want to be.
Working with a coach to power up your practice is not a show of weakness. It’s a sign of strength. An advisor coach can identify derailing factors in a wealth management practice and address corrective measures that improve performance. In fact, the best advisors tend to be the most coachable because they leave nothing to chance. They know that success can be a double-edge sword because it tends to mask deficiencies that result in blind spots in their practice. With the assistance of a coach, these top advisors learn how to spot problems before they become insurmountable. Coaching is about performance enhancement and it’s especially effective for advisors who enjoy success and for those who are willing to learn new ways to raise the bar for their practice.
Choose A Coach Wisely
If you are considering coaching as a way to improve your performance, follow two simple rules. First, be coachable. Set aside your ego and acknowledge it’s time to get the help you need. Second, chose your coach wisely. All advisors are not the same and neither are coaches. Find one that has had success in our industry and a track record of success in working with advisors like yourself. Learn what methodologies the coach utilizes and why. If a coaching candidate talks in vague generalities rather than specifics, look for another option.
A financial advisor coach can be the game-changer that takes your practice to a higher level. The right one can also change your life.
Like this tip? Our coaching programs bring a unique focus to improving and refining the daily habits that can drive success. Contact us to find out how we can help you grow your practice and achieve your goals.