By Bruce W. Etherington
Each week MDRT and AdvisorNews bring readers advice on topics encompassing the financial services industry including case studies, practice management, tips for success and much more.
The “12 P’s of Performance” is an overarching set of principles that has produced noteworthy results throughout my career as a financial advisor. Impact your performance with the following:
- Prospect Up: Ask your top 20 clients to introduce you to people who have three characteristics.
(1) They are responsible family and/or businesspeople.
(2) They have excellent economic resources and growth potential.
(3) They are able to make decisions based on facts.
- Process: Implement a system to eliminate inefficiencies in your business, keep you focused on productive priorities and take you through the sales relationship maze.
- Preparation: Tailor the materials you use to each prospect’s interests, goals and objectives. Use books, language, hobbies, background and third-party examples to support your case.
- Preview: Create a “showroom example” that previews your services for your prospective clients and gives them an idea of how you may be able to help them.
- Patience: Time invested building relationships creates trust and allows us to educate our prospects as to how we can help them achieve their goals and objectives. Patience converts prospects to clients and, ultimately, advocates of our services.
- Persistence: George Sigurdson said, “A setback is simply a setup for a comeback.” My operating motto is “A no is not a never and never is not forever.”
- Passion: From passion comes greatness. Without it the best we can hope for is mediocrity.
- Prosperity factor: What is yours? Of all the things you bring to the table what is the single best piece of financial advice you can give? Share it with your clients.
- Professional: Be a pro in all you do — in your dress, language, meeting environment and preparation. Create credibility through preparation and follow up.
- Path: Think, believe, dream and dare as you navigate your professional path. Include organizations like MDRT on your journey as they provide resources as stepping-stones to future success.
- Priorities: There is no substitute for prioritizing your daily activities. Do the difficult tasks first and the rest will seem easy.
- Personal Beliefs: No matter your personal faith the important thing is to have one! Your spiritual dimension is an important part of MDRT’s Whole Person concept. A personal faith has enabled me to deal with and overcome some serious storms in my life and continue to grow.
Bruce W. Etherington is a fully accredited financial planner with a specialty in life insurance and holds the CLU, CHFC and CFP designations. His firm, Bruce Etherington & Associates, specializes in “Family Harmony and Philanthropy.” A renowned speaker, Bruce has spoken to virtually every major insurance and financial planning organization in the world. Bruce is a 49-year Life and Qualifying Member of the Million Dollar Round Table (MDRT) and a 42-year Charter and Qualifying Member of the Top of the Table.