“The coach doesn’t have to play the sport as well as you do. They have to watch you and get you to be your best. A coach is somebody who looks at something with another set of eyes, describes it to you in his or her words, and discusses how to approach the problem.” –Eric Schmidt, former CEO of Google
What’s the best business decision you’ve ever made? That’s an easy one for me. It was hiring a personal coach seven years ago. I was at a point in my career where I needed an “outside-insider”, someone I could pay to help me thrive, not just survive.
My company provided me with a “business development account” each year, which allowed me to purchase pre-approved services or items as a perk. I usually used the money for items like a new computer, printer, or wining and dining a big client. Then it dawned on me; why not make an investment instead of a purchase? Why not invest in something self-sustaining rather than purchasing a depreciating asset?
I did just that in 2010.
My years as a financial advisor and market director for a major wirehouse had lead me to a important discovery; the thing that separated the elite advisors and executives from the rest was their willingness to invest in themselves by hiring a personal coach. As I researched the topic, two convincing reasons emerged for me to do the same:
- First, I needed somebody 100% dedicated to my betterment:
- Your organization has put a leader in the role above you for the purpose of getting more out of you. Yes, they are there to help you, but the bottom line is not necessarily your bottom line. They have an agenda for you regardless of what yours is. This isn’t a bad thing, it’s just that their agenda will rarely encompass all the things you want to achieve. A personal coach can help you fill this gap.
- A coach’s only purpose is to help you get better – he or she has no agenda of their own, just yours. Their bottom line is your bottom line. Better can mean many things, but in the end it translates into peak performance, as defined by you and only you, that brings:
- Margin and balance to your business practice
- Effectiveness and efficiency to your workflow
- The eureka moment when you experience that “less is more”
- Contentment that overflows to all areas of your life
- Secondly, I needed a personal confidant to help me process my opportunities and obstacles:
- The advisor and the executive compete against his or her peers. It may be friendly or not, but one thing is for sure; it’s lonely at the top of the leaderboard and in the corner office. Your family can offer encouragement, but typically not expertise. A good coach is someone who has “been there and done that” in your profession. They’ve sat where you sit and they know how you feel. They are there to help you execute on opportunities by pulling out your personal best from your reservoir of talents, competence, and life experiences.
- The advisor and the executive need someone that can talk them through their tears and fears – someone to help them see the forest from the trees. A coach is in the boat with you to help you discover the truth of the current obstacles you face and to guide you to objectivity by functioning as your 100%, fully dedicated “outside-insider”.
This year invest your money rather than spend it. If you have a business development account, business expense account, perk fund, or whatever it may be called, use this year’s remaining balance on something that is guaranteed to give you a positive ROI and one with a sustainable future – YOU!
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Bill Edmonds is an “Outside-Insighter” who works with Financial Advisors to help them grow their business while having fun doing it. If you’re a successful advisor, yet feeling a little smoldering discontent with your current business practice, reach out to us to discuss how we might be able to help you get back on track and take it to the next level: info@northstarlead.com / 803-457-1617.
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