Practice Management Archives - Page 2 of 2

The 4 Keys to Peak Performance

Posted on 04.29.14 |

Michael F. Sciortino, Sr.
Executive Vice President, Managing Director, Head of Distribution
CMG

I remember two things in particular from when I started in the business:

The DJIA was just coming off a low of 776.
I had taped on my desk by my phone the Calvin Coolidge quote on persistence (more on that in a moment).

Since then, I have had a passion for learning how to maintain peak performance and share the results with the advisors I work with. What I’ve learned is that it is possible to maintain a regular and consistent level of peak performance if you employ the following 4 keys:

mountain

P ersistence
E nthusiasm
A ttitude
K indness

Let’s break each of these down:

1) Persistence – We all get knocked down from time to time. These are the times you need to give of yourself and a little more. The marathon runner hits the wall. The boxer hits the mat. Many times, the problems or challenges we face force us to grow and become more capable. Those who persist in spite of the obstacles they encounter usually prevail. They reach ahead to achieve their vision of the future.

“Nothing in this world can take the place of persistence. Talent will not; nothing is more common than unsuccessful men with talent. Genius will not; unrewarded genius is almost a proverb. Education will not; the world is full of educated derelicts. Persistence and determination alone are omnipotent.”

-Calvin Coolidge

How to Create a Memorable Client Experience

Posted on 04.22.14 |

Michael F. Sciortino, Sr.
Executive Vice President, Managing Director, Head of Distribution
CMG

You know, the client experience that everyone in town talks about. The client experience that everyone looks forward to. Let’s start with turning your shoulds to musts. Over the years, I’ve heard them all. I should put on that seminar. I should call 3-5 clients per day. I should mail 5 personal notes a day. I should plan my next memorable client event.

Now, let’s try that again, in order to achieve the results you want in your practice. I must put on that seminar. I must call 3-5 clients per day. I must mail 5 personal notes a day. I must plan my next memorable client event.

One of the secrets successful advisors have shared with me over the years is that surprisingly many of their most successful ideas are not new. However, they have taken the time to discover them and then model their actions after other successful advisors. Makes perfect sense to me. When you take these ideas from others you in effect compress decades of learning into days.

One such idea that an advisor I worked with in a small town used was an annual anniversary party in a local park. Even if you happen to be in a large city, you can do this in a suburb. Here’s how he set it up. At the event, clients are served BBQ and are entertained by a 3 piece band. Every year he invites his clients and friends along with all city leaders and movers and shakers in the community. The next part I think is brilliant. He enlists several high school students dressed in his company’s logo shirts and khaki pants to serve his guests. This is a great way for him to build goodwill by offering the students much needed service hours and socializing with clients and prospects.

Does a lot of planning and preparation go into this event? Sure. However, what we fear most is what we most need to do! So, go ahead and start planning an event that is fun, something people want to do, and something that will allow you to stand out from the crowd. As W. Clement Stone used to say, “Thinking will not overcome fear but action will.” Here’s an action that will help you expand your practice by creating a memorable client experience. What are you waiting for? – Mike Sciortino

Excellence is an Attitude

Posted on 04.10.14 |

Michael F. Sciortino, Sr.
Executive Vice President, Managing Director, Head of Distribution
CMG

Over the years, what I’ve observed is that excellence is not a skill, it is an attitude. An attitude that is practiced everyday. Vince Lombardi used to say, “The quality of a man’s life is in direct proportion to his commitment to excellence, regardless of his chosen field of endeavor.”

Recently, I ran across a quote by a well known retired CEO which exemplifies what successful advisors in our business display:

“To me, excellence means being better than the best. Its achievement requires an introspective assessment of everything we do, say, or make, and an honest inquiry; ‘Is it better than the best?’ If it is not we will ask ourselves, ‘What will it take?’ and then rally the resources required to get there.” – Jack Welch

The Pain of Discipline or the Pain of Regret

Posted on 03.27.14 |

Mike Sciortino
Executive VP, Managing Director, Head of Distribution
CMG

The Choice is yours (or your client’s)…

In our industry, we are a disciplined bunch. I would like to discuss today’s topic from two unique perspectives: yours and your client’s.

Let’s begin with yours: Webster defines discipline as “training that corrects, molds or perfects the mental faculties or moral character; control gained by enforcing obedience or order”. Simply put, it requires you to exercise self control. Often times the challenges or problems we face force us to grow and become more capable in our practices. A wise mentor I had early on used to tell me, if I don’t act, something significant wont happen; how right he was.

Now, from the client’s perspective: Every recommendation you make should be made after you’ve asked yourself this important question, “How can I present this to be in their own best interest?” Your consistent encouragement is the fuel on which their hope of achieving their goals runs. Your role is to implement the positive steps “as if” the hoped for results will become reality. As an advisor, you have a tremendous platform to deliver life changing impact. Years from now, with your guidance, your clients will be able to say, “I’m glad I did” vs. “I wish I had”. On an ongoing basis, you can inspire your clients by presenting them with a practical and attainable positive vision for their future. With your help, your client’s compelling dreams will generate the necessary obedience to push them past their fears and reach their meaningful goals.

Secrets of Effective Time Management

Posted on 03.19.14 |

Hint: It’s really all about the basic blocking and tackling.

What do Bill Belichick and Nick Saban have in common?

Championships? Yes
Rings? Yes
But how did they reach the pinnacles of their profession? By executing a well thought out Game Plan.
Why did a Game Plan work? It kept the players focused, laid out the path to success and eliminated distractions.
Will a Game Plan work for you? Absolutely! This helps you focus on your best talents and strengths.

To help you put together your own time management Game Plan, I offer the following helpful insights:

When you do the things you don’t want to do when you don’t want or feel like doing them, the day will soon come when you can do the things you want to do or feel like doing when you want to do them. You ask, how does that apply to you?

Going forward let’s start with your own Game Plan. Make it a weekly habit of sitting down Friday afternoon or sometime over the weekend and plan out your upcoming week, weeks, and months. This is a fluid process. Like a snowball rolling downhill, it will take a little while to build momentum. Then, watch out! You are on your way. Whether you use a laptop, iPad, iPhone or a good ole legal pad, engage in the world’s oldest and most highly paid profession, thinking. Then, regularly use the following steps:

7 Ways to Nurture Your Client Relationships

Posted on 03.12.14 |

You’ve probably heard the old saying, ” People don’t care how much you know until they know how much you care.” Well, the most successful advisors I know have an innate ability to regularly demonstrate their caring to their clients. They do it consistently with what appears to be little effort. In reality, their approach is well planned and targeted to grow their practice. Below is a list of 7 ways to nurture client relationships.

1. People want to feel special, valued, respected, and cared for. Your customers are dear and valued friends who have trusted you and valued you. Reciprocate by letting them know what they mean to you on a consistent basis.

The Art of the Referral (Part II)

Posted on 03.04.14 |

Last week I began sharing various referral strategies with you. As you recall, there are three strategies to cultivate referrals:

1. Passive
2. One at a time
3. Proactive

Last week we covered #1. Before I proceed to strategies two and three, I must share one final passive idea with you. I received a 2014 calendar from an advisor friend at year’s end. On the envelope flap was placed a 2” gold circle sticker that read, “Oh by the way…I’m never too busy for your referrals.” This advisor is extremely successful because he never passes up an opportunity to ask for a referral.

The Art of the Referral (Part I)

Posted on 02.26.14 |

…Discover simple ideas to increase your business!

Let’s Begin with a Few Questions!

1. Can you imagine a cost effective and inexpensive way to receive a steady stream of quality referrals?

2. What if you adopted a consistent “systematic approach” to receiving referrals?

3. How much new business could this mean to you?

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