"Five Hurdles Successful Reps Need to Clear"
by Patti Branco
As a rookie, or a seasoned pro needing a fresh start, you confront a host of challenges, not the least of which are your own personal stumbling blocks. Here's a list of the five most common personal pitfalls reps encounter—and the best strategies for overcoming them.
Do you ever suspect that you might be your own worst enemy? You're not alone. The most common obstacles to success are often self-induced, intangible, and hard to uncover. Some of us become too close to a situation to judge our behavior objectively; others tend to be overly critical of ourselves. Whatever the circumstances, if we aren't careful, success can develop into a mountain we just can't seem to climb.
If you're on the road to building or rebuilding your business, consider these common rookie challenges—and the strategies that will help you overcome them.
- You think you're too young. Many advisors with no prior business experience fear that age will be an impediment to landing accounts with older, wiser prospects. If you're a rookie, you might feel that your 23-year-old face is like a neon sign flashing "inexperienced!" for the world to see. You might fear that your youth will prevent people from trusting you or believing what you have to say, resulting in lost opportunity. And if you're winging it or unprepared, your fear might very well be valid.
Solution: Take heart: Alexander the Great was well on his way conquering the world when he was in his 20s. And as a recent graduate, you're more likely to be on top of the newest ideas, technology, and insights. Focus on showcasing your professionalism, preparation, product and service knowledge, and communication skills. Stress the strengths of your firm and those of your colleagues and partners. If you commit to becoming the best that you can be, you'll ensure that you present not only a professional image, but also a memorable and impressive one. And ultimately, your age can become an asset; you'll notice your clients remarking, "He is so sharp, particularly for such a young guy."
- Fear of failure. This presents a daunting challenge for rookies. On top of your own personal goals and desires, you're dealing with your boss—who is probably monitoring your activities and productivity on a weekly basis—as well as the basic stress of earning a living. Fear of failure is a very real concern in a business where you're tackling a range of duties, but where your main responsibility is seeing people who have a need for investment products and services.
Solution: Never waste a moment. Make every minute count. Be organized. Listen to positive messages and tapes, and relax with uplifting entertainment. Stay physically active, balanced, and rested. Plan and measure your progress. Review and regroup when necessary. Stay away from the office whiner, and spend as much time as possible in the company of successful colleagues. If you are doing all of this, there will be no room for fear and worry—and the downward cycle these feelings perpetuate.
- Kicking back too soon. "Success fever" can strike suddenly if you've had an awesome month of business. The symptoms? You spend a lot more time out of the office and on the golf course—or at long lunches celebrating your prowess and early success. Then you have a month of zeros and can't figure out what went wrong.
Solution: Celebrate success by doubling whatever you did to contract the fever in the first place, setting new goals, and adding creative activities to expand your business.
- Lack of confidence. This malady strikes at everyone's heart. Barbara Streisand has candidly admitted to suffering stage fright, famous athletes often question their phenomenal success on national television—even presidents have expressed doubts about their ability to lead the nation. Knowing that you're not alone is comforting, but how do you climb out of that awful black hole?
Solution: First, make sure you that work diligently toward becoming a consummate professional, and that your lack of confidence doesn't stem from inadequacies that can be solved through knowledge and research. For those normal fears, keep a success journal. Every time you accomplish a goal, write it down. Keep a file of notes and cards you receive from satisfied clients and well-wishers. Never utter a self-deprecating comment. Program yourself to avoid those who are negative, and review your good qualities regularly.
- Inadequate work ethic. Beware this trap. You might have picked up some bad habits at school—or maybe you never had to perform according to the level of expectations you're laboring under now. This may not be your fault, but you still need to change your habits. If you are chronically late, sloppy, poorly dressed, or insensitive to corporate culture and values, your goose will be cooked before you begin.
Solution: Take a personal and professional inventory. Make sure you are well informed and competent by learning, participating, and engaging in research. Watch those who are experienced and respected, and emulate them. Avoid gossip and company bashing—leave that for the folks who are on the train to nowhere. Always give 100% effort, and take full responsibility for your actions. Keep the best interests of your clients uppermost in your mind. Avoid office romances and other shenanigans. Look sharp, speak well, and be a team player. Once you've cleared these hurdles, you'll be on your way to reaching your highest potential—and joining the ranks of the successful, happy, wealthy, and well-adjusted top-performing advisors.
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Author's note: An 20-year veteran of the securities industry, advisor coach Patti Branco is a securities industry consultant, and founder of Patti Branco Management Solutions. And can be reached at 903-451-9800.
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