While sales and revenue are important, it’s going to be your activity that truly defines your success or failure. But, how do you track and measure your activity? How do you ensure you see results? One option is the activity points system.
Years ago, I heard of the activity points system from fellow members of the Million Dollar Round Table. Many had used this system to establish successful habits, and they continued using it to reach their goals.
Here’s how it works: Activities are assigned a points value, and your goal is to reach 20 points every day. Once you reach 20 points, you don’t have to make another cold call, schedule another client meeting or do anything else, really. When you do this, you can walk away from the office feeling good about the day, regardless of whether you made any sales.
Points values should be based on key performance indicators, i.e., activities that have a higher impact on revenue should be assigned a higher value. Here’s an example:
Whenever I concentrated on the activity point system, I found that my pending sales increased and, eventually, my pending sales turned into paid business, which resulted in reaching my financial goals. The points took off the pressure to “sell” or meet daily/weekly financial goals. By focusing on activity, the results would always follow.
Additionally, I found the activity points system to be extremely helpful for several reasons:
Think about implementing your own point system. By focusing on activity, you will find that your client engagement is more consistent and profitable. It will help you maximize your time spent on the key performance indicators that drive your business.
Translate your important key performance indicators into an activity points system. This allows you to focus on activity, not revenue.
Face it. These days, your phone changes faster than you do. Continuous improvement is the name of the game. If you’re standing still, you might as well be walking backward.
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Mike McGlothlin is a team leader, retirement industry activist and disciple of Indiana Hoosier basketball. In addition to being EVP of retirement at Ash Brokerage, he is a sought-after writer and speaker. His web series, “Winning Strategies,” provides insight and motivation for financial advisors in many forms – blogs, books, videos, podcasts and more. His latest book, “Free Throw for Financial Professionals,” will be available in October.
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