I distinctly remember a phone call, many years ago, when I spoke to an uber-stressed IT Director.
“So,” I asked “How was the Time Management course?”
“Afraid I didn’t make it.” says he.
Then I asked the stupid, pointless question… “So, why’s that then?”
(You’re ahead of me, aren’t you?)
“Well,” (big sigh here) “I just didn’t have the time!”
Ha!
Double Ha!
It would be funny, if it weren’t so ridiculous and sad.
During the last few months, I’ve met a wide selection of Financial Advisers, (Financial Planners, Life Planners, Wealth Managers et al) at our various workshops and public seminars.
When it comes to being stressed, they were strewn along the whole spectrum.
From highly driven, 7-day per week merchants, frustrated and aging before my very eyes.
To calm and fulfilled and laughing, with clients flowing almost effortlessly through the door.
At this stage, I must make a confession…
During 2011 I found myself shuttling from one end of that spectrum to the other.
At times, I was just like most of my Blog readers… working silly hours, at maximum stretch, with a Project List as long as both arms (and a leg)
Until, that is, I spent a day walking the fields and woods of Hampshire with my Mentor/co-Director, Andrew.
Amongst the peace and beauty, some tough talking and clear thinking occured.
What I re-discovered has made such an impact on me that, today I feel as if I’m floating 9 inches off the ground
If you’re already dreading the weight of this year’s To-Do List, allow me to share just a couple of insights with you… as you prepare to face the challenges of 2012.
First Insight: Be Clear About ‘The Reason Why’ of Your Business
I remember an Adviser saying he’d like to work with me.
But what he wanted was everything delivered as a template.
“Don’t explain things through all that coaching and your workshops. Just give me the templates, and I’ll work it out for myself.”
At the end of the meeting, I didn’t pursue the relationship further.
Look, let’s be honest…
There’s a wallowing mass of ‘How To Do It’ stuff out there for your profession.
Masses of it.
We’re awash with workshops, webinars, websites, linkedin groups…!
And a lot of it is given away. Free. Gratis. Pro Bono.
If all you had to do was learn the ‘How To’ of running a business…
Well, then most Advisers would be Healthy, Rich and Deliriously Happy!
I assure you. They’re not.
The problem is… too many people are running like fury, because they’re unclear about what they’re doing ‘all this’ for.
There’s no deep-seated, passionate, crystal clear ’Why’ behind their business.
When you’re clear about the central reason for running your small business…
When you’ve decided that it’s about more than just making money (I’ll show you some street market vendors who are making a pretty penny – with a lot less hassle than you’re facing)…
When you’ve written a clear Business Strategy around this Reason Why…
Then two things happen:
1) Not only does your attention get focused on what is strategically important, to achieve what you really, really want. But…
2) You’re much more astute about what to STOP doing… even if everyone else is doing it day in and day out.
More importantly, you know when to say ‘Enough!’
You know when to ignore your Screaming, Driving Ego which says ‘More Is Definitely Better’
For example More-Clients-per-Adviser is seldom a shrewd business strategy.
Indeed, time and again, I’ve seen that mentality lead to frustration, misery, even tears.
If you don’t immediately buy into the ‘Reason Why’ approach, think about this…
Last year I wrote about a comparison between companies like, say, Dell and Apple
- Both have created wealthy organisations, with mistakes and successes on the way
- But one has left a far more iconic, inspirational mark on business and consumer history
Ask yourself, which of these types of business your clients would be attracted to.
And then ask yourself…
“Is my business inspirational?
Or is it the Financial Services equivalent of buying something for a dollar, and selling it for two?”
Because, when you’re that attractive, quality referrals, and beneficial alliances flow your way. And you work far less frantically to build your business.
Second Insight: Forget Time Management!
The problem with thinking ‘Time Management’ is that we’re seduced by the thought of ‘More, Faster, More Efficiently’.
Trying to cram more things, more efficiently, into your day is a sure route to misery. That’s my observation of hundreds of Business Owner-Managers.
Why? Because there are only a few things in business or life that make a big difference. (And they’re seldom ‘things’)
The wisdom that seperates the Calm from the Ludicrously Stressed is knowing which of the gazillion tasks that face them are the BIG ones.
I’ve found that, by combining two widely-discussed (but seldom-used) principles, I’m enjoying instantly better results:
- The Pareto Principle (80/20 Rule), together with
- Parkinson’s Law
You see… if only 20% (or less) of my activities produce 80% of my results… then I’m spending Monday mornings carefully thinking through which activities are the Top 20%.
Then, more and more, I’m leaving the rest alone (or training someone else to handle it. Sometimes!)
Next… I give myself less time.
Since work will – without question – expand to fill the time…
I now cut down my time for each project.
And I’m going home earlier.
I’m working hard to avoid multi-tasking, and trying to ignore absolutely everything (especially emails) until I’ve finished that task.
Oh… and I now never, never list more than 4 Major Projects for each day.
Just four.
If nothing else gets done, well… then it doesn’t matter that much. Does it?
I’ll conclude by referring to one of the simple questions I learned when – as a Financial Planner – I first started using a coach.
At first, I though it was slightly cheesy.
Until I realised that I was staring at a question that made me squirm.
Ready?
“If you had a bad heart… and were only allowed 2 hours per day for work:
- Would you be doing the work you’re doing today?
- And if so, what tasks would you stop doing each week?
Now that you’ve answered both of those… Why are you about to do what you were about to do?”
It’s the simple questions that carry the power to create change, and which free us from drudgery and wasted weeks each year.
