NAILBA Perspectives 2021 Q1 | Page 26

BUSINESS STRATEGIES
Strategic planning from page 25
Mr . Schiff ’ s advice : “ Be creative !!!! Yes , it ’ s the ‘ new normal ,’ but as a financial advisor , you are uniquely positioned to solve client problems . In fact , I did more ‘ servicing ’ this year , which led to more new sales . There are a couple of books that have made a big difference for me , and I recommend them to all advisors : From Selling to Serving : The Essence of Client Creation by Lou Cassara and Living a Life of Significance by Joseph W . Jordan . They are probably the best ‘ practical ’ books for any financial advisor . Why ? Because what I have learned in the last twelve months is that everyone is scared in some way about COVID . It has impacted everyone . But some industries are going like crazy , while the hospitality industry has died . Don ’ t participate in the ‘ recession .’ Pivot to healthy companies to help them retain employees , and individually help those who are struggling . Do a review of every client you have , and for those advisors who are new to the business , contact prospects and explain to them how you are working with individuals to survive and thrive in spite of COVID . That message resonates .”
Before addressing practicalities , Mr . Dona mentioned some trends he ’ s observing . “ We believe we ’ ll continue to see an increase in holistic financial planning as multiple product sales are a great way to drive revenue . Consider consumer-facing capabilities . We ’ ll see more BGAs add to their direct-to-consumer approach , as that gives them more reach and another leg to stand on should business continue to shift . Our specialist channel at our firm enables us to do that .
“ We ’ ll see more development in leveraging digital marketing ,” Mr . Dona predicted . “ The biggest advantage is getting in front of larger audiences more frequently . Instead of a region-by-region approach , we ’ re able to host large scale events at minimal cost .
“ Finally ,” Mr . Dona concluded , “ you need to plant the seeds early for that continued long-term growth . We actually experienced growth in 2020 , but some of it is owing to work we started in late 2019 . If we hadn ’ t spent all the time on the front end , we never could have gained the traction as quickly as we did this past year .”
Moving to next-level strategies
From Mr . Gagne ’ s point of view , advisor organizations can play an important role . “ More than ever before , today ’ s financial professionals need the innovative ideas and ongoing support of organizations like MDRT . As a 21-year MDRT member , I know how important it is to tap into the next-level strategies .
Mr . Gagne also emphasized mentorship in the business .
“ For advisors looking to grow substantially in the next year , I ’ d encourage them to explore the newly revamped MDRT Mentoring Program . The program connects aspiring members to current members — and current members to more seasoned advisors — to boost career growth and elevate their expertise . By using goal setting , milestone tracking , and progress reports , mentoring program participants can see continued success in their business .”
Finally , Mr . Gagne offered an encouraging word for those advisors who are not yet at MDRT levels of production . “ I ’ d also encourage future-focused financial advisors who do not yet qualify for MDRT in 2021 to join the MDRT Academy . They ’ ll receive realtime insights and personalized coaching that fast-tracks them to premier status .”
Clearing the haze
“ People want our product . In fact , in times of uncertainty , we provide the certainty that they are looking for .”
It is refreshing to get the perspectives of those who are getting things done even in the face of enormous business challenges . These three pros clearly are not being slowed down by a hazy outlook — or anything else , for that matter . No one is predicting exactly what 2021 will look like , but with personal business outlooks like these , I ’ m predicting personal success for all three … and anyone else with a similar success-oriented mindset .
Charles K . Hirsch , CLU
Schiff
President of Hirsch Communications Consulting , LLC , is a regular contributor to NAILBA ’ s Independent and Perspectives publications . As previous editor and publisher of Life Insurance Selling magazine , he also provides consulting services to the industry . Charles . K . Hirsch @ gmail . com
26 Perspectives Q1 2021