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Five Habits for Developing Mental Toughness

Being able to handle rejection is the hardest part.

“You’ve got to have crocodile skin to be the best,” explained Doug after landing a $20 million client, which put him over $100 million in new assets for the year.

As I’ve always said, this game is won on that 7 inch playing field between the ears—the mind. Doug had to learn how to dress, socialize and sell himself in wealthy circles. Being able to handle rejection was a major part of his learning curve (far more challenging than dressing the part). Although he’d get upset (usually at the prospect), Doug never took rejection personally, and by plowing ahead he was able to develop “crocodile skin.”

Doug’s story is good news for other financial advisors; much like mastering the art of affluent sales, your mindset can be developed as well.

Everyone should always be working to strengthen their mental toughness, especially financial advisors who have to deal with rejection. In my 40 years of coaching financial advisors, I’ve yet to encounter an elite advisor who wasn’t mentally tough.

The following are five ways advisors can develop mental toughness.

Matt Oechsli is author of How to Build a 21st Century Financial Practice: Attracting, Servicing, and Retaining Affluent Clients.

TAGS: Prospecting
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