Advisors and agents, basketball players and door to door salesmen, women, need to have a coach.
When growing up I was asked in this industry so many times by people who mentored me and I questioned why I would need some of their mentoring. especially when so many of them claimed to be a god in this industry.
Each would give different answers. Like my sales process will get you closing at 20% or more. My marketing will get you more advisors than you know what to do with, or the greatest lie of all time, my annuity products get people to buy.
The best one that I've heard, which has some real truth is this question. IF you were joining the PGA tour and you could get one of these two advantages which would you pick: the clubs that Tiger Woods plays with or Tiger's swing. Naturally what would you pick?
I'd take the swing all day long.
Why is that? It's because products, and systems can be purchased. Now whether or not they pull through for you depends on your ability to swing and also their ability to swing as well.
I think the biggest advantage to having a coach who's passion is more leaning toward marketing and sales rather than the financial planning aspect of things, is so that you can have a guy who's got the swing to give to you through process of accountability and correction.
I think that's ultimately the two things advisors need the most is accountability and correction. They need honest feedback from someone who's not done one practice, but somebody who's seen multiple practices, watched multiple workshop and can tell you what you're doing wrong and what you're doing right.
I've had mentors literally watch a video from an advisor's workshop, give two points of feedback and just say keep on it. Advisor will pay almost four grand for the critique. So if that's the coaching you get from some 20 Million dollar producer, why would you pay that amount?
Honestly, that's what got me into coaching in the first place. I saw so many washed up advisors at the end of their ropes, burned out from the business jump into coaching and give shit advice to producers where they have bills to pay.
They are advisors who are struggling, living paycheck to paycheck, constantly checking zillow to see if they should sell their house so they can afford that office. All because some burn out told them to.
I hope the burn outs find peace in this business. I really do.
That's why I'm a firm believer that advisors need a coach who will give them advice that's been gathered from watching years of other people's golf games, other's golfer's swings, so you can get the most customized advice to your practice.
Getting advice from mentor's like this will kill your business or help you slay the business.