What Happens on The Outside Doesn’t Matter


What Happens on The Outside Doesn’t Matter

Too often, we find ourselves caught up in the distractions around our work. Whether it’s the interest rate environment, regulations or blanket recommendations from “experts” … Many times, we let the distractions dictate our decisions. No matter the client situation in front of us, too often, we revert back to our old planning techniques. 

If we push the distractions aside, however, and focus on the needs of the people we serve, we’re much more likely to succeed. 

 

Hoosiers Hang Tough

At no surprise to those who know me, I was happy to see Indiana University win the 2016 men’s basketball Big Ten regular season championship. If you don’t follow IU basketball, you might be surprised to know the team was stumbling into the post-season a year prior. 

Things were so bad, Coach Tom Crean was booed when he showed up to watch his son play at a high school basketball game. At the time, many Hoosier faithful were calling for his termination, and some even offered to pay for his buyout. The players also had several off-court incidents that were not indicative of IU basketball standards.  

After coming back and winning the regular season championship in 2016, Coach Crean said the team didn’t let the outside distractions impact how they prepared for games or used their strengths. He is quoted as saying: 

“ … When you have faith in yourself and each other and what you’re capable of, it doesn’t matter what’s said on the outside.”

Why don’t we do the same thing in business? 

 

Focus on What Matters

No matter what happens in the months or years ahead, we have to keep the outside distractions on the outside and have faith in our financial planning process. The only thing that really matters is how our clients benefit from our recommendations. If we know (and have faith in our products) that a purchase improves the client’s situation, we must stay focused on continuing to make the recommendation – even if regulations make it more difficult. 

 

Winning Strategy

In all the changes to our industry, keep faithful in your financial planning process. Be open to change when it improves the client situation. And, keep distractions on the outside.