Annuities

How to Stay Motivated in a Difficult Business


Annuities

Achieve a 20-Point Day

Occasionally, most of us experience a lack of motivation. You might have distractions in your personal life. You might be discouraged by bad markets or low interest rates. Or maybe you’re just burned out. Whatever the cause, when you’re just not feeling it, it’s hard to stay focused and do the things necessary to grow your business. Specifically, it can be hard to find the energy to track quality people and remain relevant.

When you lose your motivations, you’re allowing external forces to push you off course to your success, potentially causing a downward spiral. When you’re not enthusiastic about your work, your clients can tell. They are trusting you with their financial future. They need you to be as excited about it as they are.

And, most important, when you lose your motivation you forget about doing the things that matter for long-term growth. Namely, prospecting for long-term clients. How do you do the things today that will result in more, and better, clients two, three and five years down the road?

There’s not just one answer, but I want to share a simple solution with you. When I worked in retail, I found it helpful to gamify my activity. The goal was to work for a 20-point day. It didn’t matter how I did it, but as long as I hit my 20 points, I went to bed knowing I had a successful day.  

Ready to give it a try?

Your 20 points can come from a variety of different sources. So, for instance, every time you pick up the phone and speak with somebody, you get a point. Every time you ask for an appointment, you get three points. Secure that appointment to get four points. A face-to-face meeting is worth five points—seven if you meet with a center of influence.  Earn 10 points for another revenue-generating activity. And, if you meet your daily revenue goal, that’s 20 points.  

The key is that there is no carryover to the next day. Every day when you wake up, you start brand new. You’re not focused on the successes and failures of clients choosing or not choosing to do business with you, but rather you’re focused on the revenue-generating activities important in your business, regardless of what those are. It doesn’t matter if your business is assets under management, selling life insurance or retirement income planning.

What matters is that those key revenue-generating ideas are assigned point value and importance that will keep you motivated.  By focusing on what you can control, you can avoid letting the things you can’t control start playing with your head. Instead of focusing on “why can’t I get anything done,” “my market’s down,” or “my income’s dropped 20% because the market correction,” make sure that you have the right revenue generating-activities in order to take your business to a different level.

Think about what you are trying to do. You could be working to expand your client base or develop deeper relationships with your existing clients. Whatever the case, working to become a High Performing Practice can start right now.

Need help? I encourage you to schedule your transformational call. Spend an hour with us talking about where you are and where you want your business to be.  We’ll reach back out to you in a couple of weeks with a plan about how to get there.

Transformational Tactic

Try for a 20-point day every day. Gamify your revenue-generating activities and you’ll stay motivated.

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Build momentum – change the game


Annuities

As I was driving home from a recent trip, I listened to an NFL broadcast. It was so good to pass the time with a football game instead of music for once. Anyway, what struck me during the 3.5-hour drive was how many times the momentum changed during the game. You could hear it in the home team’s announcers and sense it as one positive play built on another.

In sales, much like football, momentum can change at a moment’s notice. In football, momentum usually comes from a big play – a turnover, a big run, or a successful long pass. The players’ confidence builds, and more big plays tend to follow. 

In sales, why not control our momentum with big plays? When we’re working on a lot of cases or have ones that we can dig our teeth into, we seem to have more momentum to call clients, bring up possible solutions or convey confidence in our proposals. How do we hold on to that momentum? With focus.

I encourage you to focus on one big play – one idea or strategy. Give it laser focus for the rest of the year. Laser focus means that you own the idea and can tell the story backwards and sideways, you have a defined target market to share the idea with, and you have the support to execute the idea with ease and confidence. When you’re laser focused, you should definitely see a shift in momentum. 

We have to change the momentum in our business. Life insurance ownership remains at industry lows, we continue to look the other way when it comes to protecting wealth from potential market corrections, and we fail to address the 93 percent of Americans who continue to self-insure their long-term care contingent liability. Focus on one idea – one game-changing play – that can propel you for the rest of the year and springboard you into 2015.

The Bottom Line: It just takes one idea or one sale to change the momentum in your business. Find the big play closest to your heart and run hard with it! Be a game-changer for the industry. 

 

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