Think Like a Navy Seal


Think Like a Navy Seal

What makes the best be the best? Dedication? Determination? A little bit of good luck?

For the last few weeks, I’ve been traveling – seeking out industry experts to help me learn and grow. My travels brought me to Coronado, California, to attend the Society of Financial Service Professionals (SFSP) Institute.

In addition to a famous hotel and some incredibly good Mexican food, Coronado is also home to the Navy base where they train the Navy Seals. My meeting was literally footsteps away, and I couldn’t help but see the commonality between our two worlds. The individuals training to be Seals are in excellent physical shape. Even though they are the best the Navy has, they are determined to continue to improve. Nothing but perfection will satisfy them.

At the Institute, I saw professionals with the same dedication and determination. They were spending significant time and energy sharpening the saw — getting better at their craft and understanding all the changes happening in the retirement income planning space. They were continuing their education and learning about the massive demographic shifts in the United States. These shifts shouldn’t be a surprise, although the size of them is pretty staggering.

According to LIMRA, today we have about 71 retired baby boomers for each active financial planner. By 2025, it will be 163 per planner. Did you follow that? In five short years, if every boomer had a financial planner, the ratio of clients to planners would be double. That’s a lot of people who need your advice!

So, how do you prepare to serve the market? Dedication. Determination. We need to be in peak condition to be able to serve our market. We must figure out how to increase efficiency and effectiveness. The challenge will be to maintain our customized focus within a much larger client base.

With more and more Americans needing our help, we must be able to focus on our advice and expertise and let automation and technology work for us to make our client relationships more efficient. In a recent post, I talked about the need for automation in marketing. That need is going to be ever more present in the years to come. If you haven’t researched technology vendors and platforms yet, there’s no time like the present. It’s the best chance we have of becoming more repetitive in a scalable business model.

Practice really does make perfect. Repetition is a large part of the Seals’ training. And it’s a big part of what we learned at the Institute.

Transformational Tactic:  Prepare now for the shift of the future. Establish a practice of repetitive goals, while maintaining a customized relationship with each client.