Motivation

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Aug 3, 2006 12:25 am

how do you big producers stay motivated day after day.  Do you
guys have very specific daily goals or books that you read every so
often?  What keeps you guys going day after day to keep hitting
the phones or prospecting.  I know each person is different, but
your input is appreciated.  Thanks in advance for your
response. 

Aug 3, 2006 1:18 am

I asked a gentleman who was in the biz for over 30 yrs to give me his input. Here's what he told me:


1)Remember, it's not a marathon but a sprint. He said that sounds simple, but it wasn't simplistic.


2)He set a reward system for himself. Talk to 5 people, go watch a movie. Have 1 new meeting that week, go to a car show. He told me this( and I'll never forget it because the reward system is nothing but a metaphor): "If you don't have as much fun as you do work hard, you're going to die a slow death. It might take awhile, but you'll dry out before you know it."


I remember asking another person and recieving this reply: "no matter what industry you're in, if you do not find something to challenge yourself with everyday, you're going to lose. LEarn something new everyday and find a way to use that knowledge to better yourself."

Aug 3, 2006 6:28 am

It's not a marathon?

Aug 3, 2006 6:48 am
NASD Newbie:

It's not a marathon?


It certainly IS a marathon, albeit a really short one in your case Putsy.

Aug 3, 2006 7:27 am

I also asked a seasoned vet this same question.  He simply put it "Work hard.  Play hard."

Aug 3, 2006 7:40 am
entrylevelFA:

I also asked a seasoned vet this same question.  He simply put it "Work hard.  Play hard."


I think you'll find that the truly successful guys think of working as play--they actually enjoy coming to the office and talking with their cients.


They also prospect every so often--just to keep the skills honed.

Aug 3, 2006 9:02 am

Motivation comes when your business reflects the things that you like to do as well.  I have a seminar/boating event coming up at the end of this month.  I think I'm looking forward more to participating in the sailing side than the seminar side. 


The real question is how you 'cold callers' stay motivated day in and day out.

Aug 3, 2006 9:08 am

quote:The real question is how you 'cold callers' stay motivated day in and day out.


That's easy. The better your pitch the more fun you'll have delivering it. You should eventually tune out rejection and your awatreness that yiou're actually on the phone. Ironically the only way you're ever going to get to that point is by getting on the phone!

Aug 3, 2006 10:33 am

Yeah - that would certainly keep me coming back to cold call day after day after day after day after day after day after day after day after day after day after day after day after day after day after day after day after day after day after day after day after day after day after day after day after day (feeling more motivated now) after day after day after day after day after day after day after day after day after day after day after day after day after day after day after day after day after day after day after day after day after day after day after day after day (more motivation) after day after day after day after day after day after day after day after day after day after day after day after day after day after day after day after day after day after day after day after day (I'm really fired up now) after day after day...

Aug 3, 2006 10:55 am
apprentice:

Yeah - that would certainly keep me coming back to cold call day after day after day after day after day after day after day after day after day after day after day after day after day after day after day after day after day after day after day after day after day after day after day after day after day (feeling more motivated now) after day after day after day after day after day after day after day after day after day after day after day after day after day after day after day after day after day after day after day after day after day after day after day after day (more motivation) after day after day after day after day after day after day after day after day after day after day after day after day after day after day after day after day after day after day after day after day (I'm really fired up now) after day after day...



nice attitude.  you'll do well in this business!  ::rolling eyes::

how about if you figure out a way to prospect that doesn't involve cold calling?

Aug 3, 2006 12:47 pm

JoeD - in all your wisdom (I noticed that you've posted 1,879 times - impressive, where do you ever find the time?), are you saying that there is NO other way to prospect?  Doesn't that strike you as being a little bit odd?


I don't understand the mentality that says we need to assult the general public with 'our' best interest in mind by calling eveyone in the country trying to make a buck.  That's a wonderful business plan.  Here's an idea on prospecting:  Connect with people who have a need for your services, have the financial means to do business with you (we're not in the business of Financial Social Work), and can make a decision to do business with you? I don't believe you can productively get to those people by cold calling. 

Aug 3, 2006 12:56 pm
apprentice:

I don't believe you can productively get to those people by cold calling. 



Every broker who ever dialed a prospect agrees--so what do you see as the best alternative?

Aug 3, 2006 12:58 pm

You are motivated because you like what you do and you like helping people.  You realize how FORTUNATE you are to have a job you enjoy that pays you.


Did your mom have to wake you up every day?  Did the coach have to yell in your ears?  Grow up.  If you are not a self starter you will fail.

Aug 3, 2006 1:22 pm
apprentice:

JoeD - in all your wisdom (I noticed that you've posted 1,879 times - impressive, where do you ever find the time?), are you saying that there is NO other way to prospect?  Doesn't that strike you as being a little bit odd?


I don't understand the mentality that says we need to assult the general public with 'our' best interest in mind by calling eveyone in the country trying to make a buck.  That's a wonderful business plan.  Here's an idea on prospecting:  Connect with people who have a need for your services, have the financial means to do business with you (we're not in the business of Financial Social Work), and can make a decision to do business with you? I don't believe you can productively get to those people by cold calling. 



 A post or two a day and before you know it ya have a whole bunch of 'em, unless you keep getting booted off the forum and have to rejoin under a new name like some folks-NASD Newbie for example.

You misunderstood my post, or perhaps I misunderstood yours.  I think there are many ways to prospect other than cold calling, ways that are more pleasant and may well be more effective for established producers.

Then again, from what I hear for brand new advisors attempting to quickly build assets, that's still the best way to get things up and running quickly.

I agree with your observation that as an industry we've sort of worn out our welcome with many in society...and there are so many other folks using phone solicitations nowdays, too.  Leads to a pretty tough environment out there when you're making that initial call.

Aug 3, 2006 1:46 pm

Married? Dating?  Everything you need to know about prospecting in this business can be learned from what we know about dating:


When you first identified your prospect (beautiful lady), how long did it take you to figure out your approach to that 'market'?  Did you call her at home (cold, when she didn't know who you were) and ask her to marry you?  No - you figured out a way to get to know her.  You played the part that you thought you needed to play in order to get her attention.  You said all the right things, laughed alot, and got to know what she was interested in (market research).  Your goal at this time was to determine if there was a reasonable ground in which to establish a relationship (now that's motivation!).  As the relationship progressed for the better - you found yourself with more assets (sorry). 


Now - the flaw with this metaphor is that you need to juggle multiple girlfriends at the same time.  However, I think one can understand the approach of pursuing a relationship compared to pursuing a one night stand.

Aug 3, 2006 3:34 pm

apprentice, the above reminds of an old quote from an old broker and I'm happy to bring it you now...... "You got to hold a lot of hands before you can hold glands". Crude but you get the point.