As I talk with Advisors from all over the country and around the world, I continue to be convinced that a big difference between the top 1% of the industry versus the bottom 80% is one simple belief: the Magic Pill.
The Advisors who fail to achieve their ultimate goals and those who take many years to build up their practice tend to believe there’s a “Magic Pill.”
Those same Advisors often spend their time jumping from one to another new thing. They keep hoping that the next “shining bauble” will be their Magic Pill – finally.
They jump onto the “Ultimate” LinkedIn system. It’s usually something that looks more or less like just knocking on doors in a better neighborhood with frankly much worse results. They end up cold messaging “Suspects” sorted by career and title.
Then they train on how to line up the perfect CPA to birddog new clients for them. Next up, well Podcasting is the thing that will make everything work. So, financial advisors throw their podcast up with the other 850,000 podcasts that are out their fishing for prospects.
No Magic Pill
It’s exhausting but misdirected. When I opened my first businesses in 1983, I learned and implemented aggressively a strategy that I continue to improve upon. It is what I’ve since started calling the “Parthenon”. I’ll freely admit that I stole that term from Jay Abraham, but 20 years earlier I was already using basically an “all of the above” approach.
Way too often the marketing strategy on any particular item is fine. However the “tactics,” the implementation details, miss the ultimate objective. Without the tactics, you’re missing the necessary steps to implement effectively.
The other missing ingredient, way too often, is expecting one thing to always work, week after week, month after month. Take an easy example of the standard lunch or dinner meeting (typically flawed tactics to begin with) that then intersects with COVID. Well, the lunch or dinner strategy is just fine, but with COVID it had to be immediately adapted to online.
Start the New Year Right
I’d love to help you with a bunch of ideas for your first quarter marketing plan. A bunch of ideas that will work fabulously, right now. These include a special report on what’s working with Social Media along with some useful videos on key marketing concepts that you likely are missing.
As you’re developing your first quarter marketing plan you may find the video below useful. It’s about 34 minutes and covers some of the elements that, in my opinion you really should be effectively implementing right now.