Category: Success Principles

Are You Sick and Tired of Being Sick and Tired?

May 17th, 2018 by

If you are sick and tired of being sick and tired, join Bill Bachrach’s LIVE online training where you will discover the answers to 4 vital questions:

 

  1. Who should be your target client and why?
  2. Why is it easy to “steal” (rescue, as Bill likes to call it) the best clients from established advisors?
  3. What’s the BIG mistake that most advisors make and what to do about it?
  4. What are the keys to successful Client Acquisition, like where to find higher-net-worth prospects?

 

Not only will you get the answers to these questions, Bill also shares case studies, stories, and examples of what the best advisors do well and what most advisors are doing wrong.

 

In order to work fewer hours, acquire the RIGHT clients, and make more money, so you can improve your quality of life, join us LIVE for this training session. Register at: https://youradvisorroadmap.lpages.co/clientacquisition-5-24-18/.

 

Note: Too little money, too many work hours, and too many of the wrong clients didn’t happen by accident. This problem will NOT fix itself.

Are You Tired of Working Too Many Hours and for Too Little Money?

April 18th, 2018 by

If you are, you can change it!

 

The responses from our recent surveys indicate that:

  • 93% of advisors say they need or want to make more money,
  • 83% say they want to work fewer hours per week and take more REAL vacation every year, and
  • 98% say they would like to have a smaller total number of clients who each pay them more.

What about you?

Chances are very high that your current approach to client acquisition practically guarantees that you will work too many hours, for too little money, and for too many of the wrong clients.

Ironically, most Advisors want exactly the opposite: more money, less hours, and a smaller number of the right clients who each pay you more.
When you participate in this LIVE, online training, in addition to getting the most clear and concise definition of “client acquisition” you’ve ever heard, in about an hour, you will discover the answers to 4 vital questions: 

1. Who should be your target client and why?
2. Why is it easy to “steal” (rescue, as we like to call it) the best clients from established Advisors? 
3. What’s the BIG mistake that most advisors make and what to do about it?
4. What are the keys to successful Client Acquisition, like where to find higher-net-worth

and convert them to clients?

Bill Bachrach also shares case studies, stories, and examples of what the best Advisors do well and what most Advisors are doing wrong.

In order to work fewer hours, acquire the RIGHT clients, and make more money, join us LIVE for this training session on April 24 by clicking the REGISTER NOW button below or going to https://youradvisorroadmap.lpages.co/clientacquisition-4-24-18/.

 

We are looking forward to having you join Bill on this powerful training session to help you accelerate your 2018 results, so you can stop working too many hours, for too little money, and with too many of the “wrong” clients.

 

P.S. Too little money, too many work hours, and too many of the wrong clients didn’t happen by accident. This problem will NOT fix itself.

 

 

Tired of Working Too Many Hours and for Too Little Money?

March 21st, 2018 by

If you are, you can change it!

 

Advisor responses from the polls we have been running indicate that:

  • 93% of advisors said they need or want to make more money,
  • 83% said they want to work fewer hours per week and take more REAL vacation every year, and
  • 98% said they would like to have a smaller total number of clients who each pay them more.

What about you?

Chances are very high that your current approach to client acquisition practically guarantees that you will work too many hours, for too little money, and for too many of the wrong clients.

I’m sharing case studies, stories, and examples of what the best Advisors do well and what most Advisors are doing wrong.

In order to work fewer hours, acquire the RIGHT clients, and make more money, join us LIVE for this training session on March 22 by going to https://youradvisorroadmap.lpages.co/clientacquisition-3-22-18/.

 

I’m looking forward to having you join me on this timely training session to help you accelerate your 2018 results so you can stop working too many hours, for too little money, and with too many of the “wrong” clients.

 

P.S. Too little money, too many work hours, and too many of the wrong clients didn’t happen by accident. This problem will NOT fix itself.

 

 

What do the best Advisors do well and what do most Advisors do wrong?

March 17th, 2018 by

Register for this LIVE training to get the most clear and concise definition of “client acquisition” you’ve ever heard, in about an hour, while you also discover the answers to 4 vital questions: 

1. Who should be your target client and why?
2. Why is it easy to “steal” (rescue, as we like to call it.) the best clients from established Advisors? 
3. What’s the BIG mistake that most advisors make and what to do about it?
4. What are the keys to successful Client Acquisition, like where to find higher-net-worth prospects? 

In addition to the answers to these questions, I will share case studies, stories, and examples of what the best advisors do well and what most advisors are doing wrong.

 

In order to work fewer hours, acquire the RIGHT clients, and make more money, join us LIVE for this training session by going to https://youradvisorroadmap.lpages.co/clientacquisition-3-22-18/.

 

I’m is looking forward to having you join me on this powerful training session to help you accelerate your 2018 results, so you can stop working too many hours, for too little money, and with too many of the “wrong” clients.

 

REGISTER NOW by going to https://youradvisorroadmap.lpages.co/clientacquisition-3-22-18/.

 

 

How would having the mindset of a “Perfectionist” help you?

March 8th, 2018 by

Click the below link to view a great Nick Saban video that can help you with possibly viewing mindset from a different perspective so you can have the highest probability of implementing your game plan and enjoy even greater success.

 

Enjoy this powerful Nick Saban 13:46 minute video – Perfectionist.

https://www.youtube.com/watch?v=VwSaS9geI1U

 

What lessons did you learn from watching this video that you can apply into your business for even greater success?

 

Watch the video a few times and apply some of the concepts he is talking about and see how they can impact the results you get. Click on the link below to check it out now. https://www.youtube.com/watch?v=VwSaS9geI1U

 

What If There’s No App For That?

March 1st, 2018 by

street girl smartphoneI love the modern world. I love the computer, transportation, DVR, and my iPhone.

Perhaps one of the reasons technology is so quickly embraced by us human beings is because we struggle to delay gratification.  We spend more than we earn to live a lifestyle we can’t really afford, we get duped into believing we can get rich quick and without risk, we waste billions of dollars a year on fad diets that promise weight loss without effort, and we do the same with fitness equipment and programs that promise to make us fast and strong without breaking a sweat. Most of us joined the Financial Services industry, in part, for the unlimited income and total time freedom.

The “app” is the ultimate promise of instant gratification. Just download the app and you’ve got a way to do something you want done rightnow. It’s very cool. I love apps! Wouldn’t it be great if there was an app for everything? Need referrals instantly? There’s an app for that! Need to execute a brilliant client interview right now? There’s an app for that! Need to know the right advice to give a client so they achieve their goals for a meeting in 10 minutes? There’s an app for that! Need to hire a great assistant tomorrow? There’s an app for that! Need to know what to say to engage strangers at a social or business networking event so they want to meet you for business tomorrow? There’s an app for that! Need more confidence to build your business? There’s an app for that! Need to know how to get wealthy people to trust you with all of your money? There’s an app for that! And of course they are either free or only 99 cents and there is very little effort involved in using them and the results are guaranteed.

Sorry. I was being tongue in cheek to make a point. Of course, there are no apps for these things because not everything can be taken care of with an app.

What technology can’t change, not even the brilliance of the iPhone or the iPad or the many apps, is the fact that there are universal laws and principals that govern real and lasting success in life and in business. No matter how cool the technology becomes there will never be an app for those things that require mastery.

This is good news and bad news. The bad news is that there is no app for that. The good news is that there is no app for that.

There’s no app that will make you a black belt martial artist. Becoming a black belt will require a good instructor, lots of practice time, commitment, implementation in the real world, and dedication over several years.

Scratch golf? Sorry, no app for that.

Triathlete? Sorry, no app for that.

Tennis? Sorry, no app for that.

Guitar? Sorry, no app for that.

Piano? Sorry, no app for that.

Successful business person? Sorry, no app for that.

Good Spouse? Sorry, no app for that.

Good Parent? Sorry, no app for that.

Engineer? Sorry, no app for that.

Doctor? Sorry, no app for that.

Lawyer? Sorry, no app for that.

Mechanic? Sorry, no app for that.

Cop? Sorry, no app for that.

Firefighter? Sorry, no app for that.

Financial Advisor? Ditto. No app.

Bummer.

There’s no app for conducting brilliant client interviews, effective implementation and progress meetings, asking for referrals, making follow-up calls, building the administrative and technical expert team to help you serve your clients. It’s all do-able, but there is no shortcut or silver bullet to produce results at the most important things in business and in life.

There’s no app, but there is a formula: a good instructor, lots of practice time, commitment, implementation in the real world, and dedication over several years.

The flip-side is that most Financial Advisors waste years, even decades, seeking and trying to circumvent a truth that cannot be escaped: there’s no app for lasting success. No shortcut. No silver bullet.

How is this good news? If you are one of the few who are actually willing to do the work, over time, to build these skills you have a distinct and substantial advantage over what will no longer even be called the “competition.” Embark on the Master’s journey and you will acquire all the Ideal Clients you need to generate all the business revenue to cover your expenses, pay your taxes, and have all the net income you want for a great present lifestyle, and all the money you need to fund your future goals and financial independence.

What does a Financial Advisor need to master in order to build a successful business?  Just 6 things.

Client Service Mastery. Help your clients get their entire financial house in perfect order and keep it that way forever. This starts with the implementation meeting, which is the first meeting after you’ve been hired, and cycles through 3 meetings per year to help your clients keep their financial house in perfect order.

Client Acquisition Mastery. Master 4 elements: 1. Asking for referrals. 2. Making follow-up calls in a way that is engaging and leads to a reasonable percentage of referrals agreeing to a more indepth phone appointment about how you can help them. 3. Facilitating this phone appointment in an effective way so a reasonable percentage agree to a face-to-face initial client interview at your office. 4. Conducting brilliant client interviews so a reasonable percentage hire you.

Leadership Mastery. Building and leading a team of best-in-class subject-matter experts; technical and administrative, who help you help your clients get their entire financial house in perfect order and keep it that way forever.

Communication & People Skills Mastery. Asking the right questions, being an empathic listener, and when it is your turn to talk giving your advice with conviction in a way that’s all about them so your clients take action and implement.

Mindset Mastery. Thinking like a business owner instead of like a practitioner. Focusing on what you can control and not being distracted by events out of your control like the market, or the economy, or world problems and conflicts.

Time, Priority, and Calendar Mastery. You running your business instead of it running you. Know your priorities, put them on your calendar as appointments with yourself and others, and develop the habit of honoring your calendar.

These are the important things that are required to tap your true potential as a Financial Advisor. There will never be an app. The sooner you embark on the Master’s journey, the sooner you will enjoy the benefits of Mastery.


To Get More Ideal Clients, Achieve Your Ideal Business, and Live Your Ideal Life…

Join the AdvisorRoadmap™ Virtual Training Platform Today!

If you want to make an impact – do you need more Mental Fortitude?

February 23rd, 2018 by

Photo-William H. McRaven-Admiral-FormerNavySealThis retired Admiral and Navy Seal trainer, William H. McRaven, delivers one of the most inspiring and uplifting speeches you will ever hear.  To watch this short 6-minute video, go to https://www.youtube.com/watch?v=xoQn2ZRp6Yo&feature=youtu.be.

 

After you watch the video, ask yourself a few questions.

– How did the video make you feel?

– What lessons did you take-away from watching this video that you will implement in your business and life from this day forward?

– How do you think these actions you implement will impact your life?

 

 

Are you tired of working too many hours, for too little money, and for too many of the wrong clients?

February 19th, 2018 by

You don’t have to!

 

Attend my Feb. 20 LIVE training session where you will discover the answers to 4 vital questions:

  1. Who should be your target client and why?
  2. Why is it easy to “steal” (rescue, as I like to say) the best clients from established Advisors?
  3. What’s the BIG mistake that most advisors make and what to do about it?
  4. What are the keys to successful Client Acquisition, like where to find higher-net-worth prospects?

 

In addition to the answers to these questions, I’ll share case studies, stories, and examples of what the best advisors do well and what most advisors are doing wrong.

 

Claim Your Spot for my Free Training Right Now!

https://youradvisorroadmap.lpages.co/clientacquisition-2-20-18

Too Many Clients, Working Too Many Hours, for Too Little Money

February 8th, 2018 by

A businessman stressed outThe title of this article describes how most established Financial Advisors exist in their financial services business: too many clients, working too many hours, for too little money. It’s a shame because this is such a great business. There are very few professions where you can earn all the money you want to pay for a truly great present lifestyle plus all you need to fund all of your future goals, including your own financial independence, while doing something valuable for other people. This really is an amazing business! Sadly, most Financial Advisors choose not to actualize the true potential that is inherent in our great business.

This does not have to be your reality, however. You have a choice. Choose to be one of the Financial Advisors who transcends the norm to experience something better.

We will examine why most Advisors end up with too many clients, working too many hours, for too little money. And we will identify some things you can do to create a business with the right number of clients, working the right number of hours, for the right amount of money… for you.

Too Many Clients:  Paradoxically, most Financial Advisors admit to being less than effective at consistently implementing prospecting, marketing, and client acquisition systems, yet they end up with too many clients, especially too many of the wrong clients. How does that happen?

  1. Continuing a pattern from early in their career of accepting as clients almost anyone who will do business with them.
  2. Inheriting “books of business” from Advisors who leave the industry.
  3. Buying “books of business” from Advisors who leave the business (or are smart enough to sell their non-Ideal Clients to another adviser).
  4. Successfully executing mass marketing prospecting systems (direct mail, seminars, radio shows, advertising, etc.).

Can you really have too many clients? Of course. Here are just 4 key indicators that you have too many clients, any one of which is enough to prove the point. You can probably think of others.

  1. At whatever point you have even one client who you would not recognize if you passed them on the street. (Exacerbated if you have clients you have never met face-to-face.)
  2. At whatever point you have even one client for whom you don’t have time to make sure all of the following action items are done for them, some completed by you and others coordinated through the appropriate subject-matter expert:
    1. comprehensive, written financial plan
    2. program to build and maintain adequate emergency cash reserves
    3. program to manage, reduce, and / or eliminate debt
    4. asset allocation, including assets not held with your custodian
    5. comprehensive insurance program covering every risk that could challenge their financial health and security
    6. legal documents that support excellent financial health (wills, trusts, durable powers of attorney, living wills, health directives, business succession plan, etc.)
    7. taxes filed on time, accurately, and paid in full
  3. When you have even one client who you can’t meet with the several times per year necessary to keep them on track to make smart choices about their money so they achieve their goals and keep their financial house in order.
  4. When you have even one client who does not pay you enough to cover their fair share of your business economic needs. (Especially if what they pay does not even cover your costs to have them as a client or justify your time investment.)

Most Financial Advisors I’ve met would love to have deeper, more meaningful relationships with their clients, deliver truly comprehensive financial services so every client has their financial house in perfect order, meet with their clients frequently enough to hold them accountable to keep their financial house in perfect order, and be paid enough by every client so they have all the business revenue they need to make their business and their life work. What’s the problem? Not enough time? It probably feels that way, but enough time is not really the problem. You have all the time there is. Everyone who survived the week had 168 hours. The real issue is choosing to allocate your time so you acquire the right clients and serve them fully. I call this the Rule of 168.

Working Too Many Hours: This challenge is driven by two admirable character traits. One is truly caring about helping people and, therefore, trying to serve them even though the amount of time that will take per client multiplied by the number of clients you have make it unworkable. Remember the Rule of 168. There are only 168 hours in the week. How you choose to invest those hours determines your success in business and your happiness in life. No matter how much you care, there is a limit to how many people you can help. Trying to serve too many people can wreck other areas your life and create an unsustainable business.

The other admirable character trait is integrity: “By God, I promised to take care of these people and I’m going to do whatever it takes to do that!” This is a noble goal, but futile given the unchangeable truth of the Rule of 168. Please don’t be upset with me for delivering this message about the Rule of 168. It wasn’t my idea. God did not consult with me when he or she decided how long it would take the Earth to achieve a full rotation or how long it takes the Earth to revolve around the sun. It is what it is. Your job is to make your business and your life work within the boundaries of the Rule of 168.

If you are working too many hours, it’s likely because you are choosing to do things with your time that are not as necessary or as important as you might think and because you are working with too many of the wrong the clients. Notice I didn’t say “bad” people. I said the wrong people to make your business life effective so you can work a reasonable number of hours to generate the money you need to make your life work.

What does it mean to make your life work? That’s really up to you. For most humans their life “working” includes some common elements: financial health, physical health, relationship health, mental health, and spiritual health. Exactly what you do and how you do it in each of these areas can vary greatly. It is a great life and this is a great profession for achieving success in all five areas.

For Too Little Money: Is there a “right” amount of money? Yes. That number is based on your and your family’s personal financial plan. What has to happen for YOUR financial house to be in perfect order? How much money is required to pay for the present lifestyle you truly want? How much do you need to save and invest to achieve all of your goals? How much insurance do you need to mitigate all of the risks to your family’s financial health and security, present and future? How much cash reserves? How much debt to be reduced or eliminated? How much to pay your taxes, in full and on time? How much to get the relevant legal documents in place?

Do you know your number(s)? Once you know your personal numbers you can then establish accurate business numbers. How much business revenue do you need to generate in order to cover your business expenses, pay your taxes, in full and on time, so there is enough left to pay for your present lifestyle and fund your family’s financial plan? There is a number. And that number is the right number for your business and your life. Until you know these numbers every money goal you set for yourself is just a guess. Or, just as bad, a random number established by something silly like how much production you need to qualify for the President’s Club conference.

There is a number. Knowing it is crucial to you building your business with the right number of clients, working the right number of hours, for the right amount of money… for you.

How Do You Shift? What has to happen for you to break free of the typical adviser syndrome of too many clients, working too many hours, for too little money to having a business with the right number of clients, working the right number of hours, for the right amount of money… for you? Here are 5 things to consider.

1. Reread this article and identify the action items. Will this be just another article you read or a call to action that makes a difference?

2. Look into the future by asking yourself this question, “If I continue to do for the next 4 years what I have done for the last 4 years, where will I be?” Do you like the answer? If not, now is the time to change course.

3. If you are a veteran, get sick and tired of being sick and tired. You’ve heard about how some overweight people look in the mirror one day and just decide their unhealthy lifestyle is no longer acceptable and change from that point forward or how cigarette smokers have an epiphany and quit cold turkey. You can do the same. At some point you are going to be absolutely sick and tired of being sick and tired of having too many clients, working too many hours, and earning too little money. Why not today? That’s why it’s called a “turning point.” There is literally a moment where things shift. It can be any moment you choose. It could be right now. It’s your choice.

4. If you are new in the business, don’t be mesmerized by the production of top-producers. You might want their revenue, but would you want their life? If you do what they did you’ll get what they’ve gotten… all of it. Instead of asking successful producers what they did to be successful ask, “If you knew then what you know now, what would have done to be even more successful sooner?” “What would you have done in order to have a better business and a better quality of life?” “It’s possible that what you did to be successful over the last 10 or 20 years will not make me successful in the next 10 – 20 years, so what would you do if you were in my shoes going forward?”

5. Accept the universal truths about being successful in business and in life. Truths like the Rule of 168, for example. The truth is the truth. Denying truth, looking for silver bullets to success, or hoping for a shortcut just wastes the valuable time you need to be investing to create a business with the right number of clients, working the right number of hours, for the right amount of money… for you.

Remember, how you experience this business is your choice. Your success will not be determined by the market, the economy, or all of the world events outside of your control. Choose to have the right number of clients, working enough to have a successful business leaving enough time for a great quality of life, and to earn all the money you need for your present and future lifestyle.

It’s a great time to be a Financial Advisor!

 

In order to help you improve working fewer hours, acquiring the RIGHT clients, and making more money, join us LIVE for this Feb. 20 training session by clicking the REGISTER NOW button below or going to https://youradvisorroadmap.lpages.co/clientacquisition-2-20-18

 

© Bill Bachrach, Bachrach & Associates, Inc.  All rights reserved. 

Bill Bachrach, CSP, CPAE is considered the financial services industry’s leading authority on building high-trust client relationships. He is a popular keynote speaker and successful financial professionals from around the world subscribe to the Values-Based Financial Planning™ turnkey business model to establish themselves as top 1% advisors in terms of value for their clients, financial success, and quality of life. Bill is the author of several books, including the best-selling Values-Based Financial Planning. Check out www.youradvisorroadmap.com to help you elevate your client value and accelerate the growth of your business 619-255-4888  (www.billbachrach.com)

Success is a Choice! Success is NOT an accident. 

February 1st, 2018 by

Stephen CurryCheck out this powerful and inspirational short video about Steph Curry.

Watching this short video about Steph Curry had a profound impact on me and can inspire you to maybe do things a bit differently going forward in 2018 so you have the highest probability of making progress on creating your ideal business and life. 

 

Warriors point guard Stephen Curry became the first player in NBA history to be voted as the unanimous MVP of the league during the 2015-16 season.

 

One of the main concepts I got from listening to him was the fact that, Success is not an accident. It is a choice. 

 

How does watching this video impact what you will do in 2018 so you can accelerate your results in business and in life? 

 

To watch this powerful 4.52-minute video, go to https://www.youtube.com/watch?v=RbsmMnAKeOI&feature=youtu.be