Today, I thought we would just have a conversation about the different states of an advisor and the different identities of an advisor.
When I advise my clients I always talk about the three conditions that advisors have. The three conditions advisors have are scarcity, abundance, and prosperity. When we first start out advising we start out in the scarcity role and your whole goal is to make money to survive.
What it sounds like in your mind is "If I could just make $40,000 a year, then I could..." Scarcity is bills plus or minus 20% and you're 90 days away from being in bad shape.
The goal for most people is to get out of scarcity and get into abundance. The problem is once you get into abundance than all that hard work, discipline, and focus you think you don't need to do that anymore because you made it. Abundance also means comfort zone and then you start messing with things that work because you think you need to tweak it - you don't want to do that.
Now when we get into prosperity we start thinking about how we can help other people. For instance, my goal is to always get my clients to the abundance level and I've succeeded at that in a high level. Then, my brain goes that's it there's got to be more. With prosperity, it's about your legacy and lasting impact.
Now for the four identities - number one the hustler, number two the advisor, number three the business owner, and number four the entrepreneur. We all have a dominant one or a hierarchy on which one we identify with.
A hustler is always trying to get the next sale or deal done. The problem is if that is your dominant style you are 30 - 90 days away from being out of business most of your career. While the hustler is good you can not spend 30 - 40 years in that mode.
The advisor is where we practice our craft. We sit down with people and consult them and build the relationship with them.
The third one and a lot of you struggle with this, is the business owner. The business owner is all about systems, accountability, and KPI. Some of you don't even know how to look at your profit and loss statement. Some of you don't know what a KPI is - Key Performance Indicator. A lot of you are great at hustling and being an advisor, but you suffer in the business owner scenario. You need to find a way to fix that or bring someone in to fix it for you.
The fourth identity is the entrepreneur or visionary. When you're lying in bed at night you're thinking of what it would be like to 5x your business or 10x your business. This is the Steve Jobs out there because you want to have that vision.
Here's my question to you - what's your hierarchy? Hustler, advisor, business owner, or entrepreneur. What is your number one, number two, number three, and number four? Because how you answer that question will tell you a lot about your blind spots and the areas you must improve to go from scarcity to abundance to prosperity.