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Jay works for a well known financial institution—one of the
troubled firms that has recently been in the news. Jay is no
novice to the investment world. However, he has been with the
firm for less than two years. Around the office, he is still one
of the "new kids on the block."
So, how is Jay doing in today's
rather turbulent economy?
Quite well! ... Better than many of
his colleagues who have been with the firm for a considerably
longer period of time—two, three, four times as long.
How can that be?
Did he bring a large book of
business with him when he joined the firm?
Does he have a large group of
influential friends and contacts?
Does he come from a well-to-do
family that associates with high net worth people?
Did he inherit a large book of
business from another broker who recently retired?
No, no, no, and no. So how is it
that Jay is continually bringing in new investment assets while
his colleagues are struggling to maintain their current
accounts?
Jay's success can be attributed to
two things:
1) not paying attention to the daily
stream of bad news;
2) working every day. Not just going
through the motions—but actually working.
Jay's daily behavior—his work
ethic—is not a function of the current economic condition or a
headline on the front page of the Wall Street Journal. It's a
function of his aspirations—to bring in a specific amount of
investment assets in a given period of time and to be the very
best at what he does ... period.
Jay works diligently every day
regardless of the economic news and the stock market reactions.
When the firm was purchased by another institution and his
colleagues were sitting at their desks wondering if they would
still have a job the following week, Jay was out prospecting for
appointments. Good times or bad, Jay's business development
activities remain constant: prospecting for new opportunities by
networking, obtaining referrals, and doing something relatively
unheard of today—making cold calls. That's right—cold calls via
telephone and in person.
To adjust to the existing market conditions, Jay didn't change
his proactive business development behavior. Instead, he changed
his focus. He reevaluated the market potential and needs and
directed his efforts to a different market segment with
different financial instruments.
When asked why he was out prospecting while his colleagues were
back in the office waiting (and hoping) for someone to respond
to the latest marketing mailing, Jay responded, "There's
business out there...somebody's going to get it ...it might as
well be me."
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Systems, Inc. All rights reserved.
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