Welcome to the first episode of The Magellan Network Show for 2019! What we're going to focus on for the next few episodes is how to get off to a great start in the New Year.
This episode let's focus on checklists. What do you really need to do to have a great 2019 and accomplish your goals?
The first step is to have a plan. A lot of people will say "well I have my goals they're in my head or on a sheet of a paper or on a spreadsheet." Here is the reality - if you don't have your goals written down or a system in place you will default to survival.
Your brain will then default to what you need. For instance, if you say you need $20,000 a month to survive then your brain will say how do we earn $20,000 a month? That's the habit you're in. There's nothing wrong with it from an economic standpoint. The median family income for the U.S. is $56,000 a year. So many of you are doing much more.
You can have an advisor making $100k - $200k a year, but still feel like a failure because you know subconsciously you could be doing better.
When we're preparing for the New Year we need that plan in place. No, I'm not talking about resolutions here. Resolutions and plans are very different. Resolutions are something you think about when the ball comes down or maybe the next day.
Usually, you can place them into two categories the health and fitness resolutions and the economic or financial resolutions. Resolutions in my mind fail miserably, in upwards of 90%, because there's no plan of action behind.
There's no what am I going to do everyday - it's just something society has mandated to get a fresh start. You have these resolutions and say you're going to work harder and apply yourself. So you get up early and do your plan for about a week.
This business is all about momentum - let's say you come up with a change in a habit that you're now going to ask for a referral every day. You're not going to see an economic benefit on that for at least 90 days. The problem is most advisors won't stick with those 90 days to see the benefit because you have impatience to succeed.
Impatience and arrogance will cost advisors millions of dollars over their career. Remember this is a habit based and belief based business. This is 80% psychology and 20% mechanics.
Here's an example I just took on a client and we're going to do a makeover, basically a business breakthrough in 90 days. He's been emailing me and for the first time in 27 years he feels like he has an understanding of why he hasn't accomplished things. He is now aware of what has to change for him.
A lot of you think of the New Year as it's just another fresh startup for your business that year. You need to think of this as building a business and think of who you've made yourself become. This will be reflected in your paycheck.
Someone asked me "how do you make more money in the business?" It's not that you work harder or you put more time in, but you need to figure out who you need to become to double your business. Who do you need to become to 10x your business? We all must evolve.
If you want to grow your business to a certain amount in let's say three years. Tell me how you operate, tell me how you wake up, tell me how you think, tell me what questions you ask yourself, tell me what you look like, what's your health like etc. Paint me YOU 2.0 because if you can't paint that picture for yourself it won't happen and that's what I want you to be aware of.
If you want to elevate your results and change in 2019 you must answer this question: who do you need to become in 2019?
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