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July 2010
Don's Monthly Message: Coping mechanisms
Successful advisors know how to cope. Over the years, I've interacted with a lot of new Advisors. With rare exceptions, new Advisors are basically equal, laden with potential and short on performance. Their skills are comparable, yet only one out of four makes it five years down the road.
You cannot predict the successful ones by looking at or talking to them. Good looks and a certain glibness may get you into a nightclub on a cold night when the line is long, but they have very little to do with sustainability. What separates the successful Advisor from the erstwhile candidate is the ability to overcome the mental and emotional obstacles they don't tell us about in training. Career Advisors have the ability to cope.
If you've made it to the five-year mark, congratulations. If you haven't made it to five years yet, don't give up. Rewards await you. You will earn more than 95% of the folks on this earth and run your own franchise while you're doing it. The fight is worth it. And fight you will. Already, your emotions are being tested like never before. You're learning stuff that can't be taught. You're learning the stuff they didn't teach you in training.
You need more than good training.
That comment is not an indictment of today's training programs. The training we receive is vital. You must know your stuff in order to pass the requisite exams. You must study hard to learn and absorb product knowledge. Firms do a great job of training in those areas. That's good. We need the ability to talk about our products in an unbiased way. But those aren't the areas that are career killers. It's the stuff that can't be taught that kills us.
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