What's The Key To Making Your New Year's Resolutions Stick? Be Committed. That's Really All It Takes

Thursday, January 03, 2013 08:10
What's The Key To Making Your New Year's Resolutions Stick? Be Committed. That's Really All It Takes

Tags: Advisor businesses | practice management | registered investment advisors

It’s a brand New Year. And that means there is an entire year of opportunities lying right in front of you.
Many advisors retired in 2012, not because they reached financial nirvana, but because they found the economic challenges of the industry to be too great.

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Even if you’re one of the successful ones, you can empathize with the struggles these other advisors have had. We all experience challenges over the course of growing our businesses.
What can you do to ensure your success in 2013? You don’t have to come up with lightning bolt types of business resolutions to become a stand-out success in this industry. You just have to make sensible ones and then stick with them.
Be staunchly committed.
2013 will continue to present challenges, no doubt. Economic growth is slated to stall a bit and clients will continue to face their own personal fiscal cliffs.
Making goals is easy and it’s a practice we’re all quite schooled in. But refusing to make exceptions to practices that ensure we will achieve those goals is another thing.
Commitments to a goal are different than the decision to make a goal. Commitments are stickier if they involve other people.
If you and your spouse or significant other decide to go on a diet together, you’ll be much less likely to cheat during the day because having a partner to whom you are accountable helps you keep your commitment to yourself.
Allowing no exceptions also involves more than just telling your business partners what your goals are. It means checking in with each other regularly.
It also means boosting each other’s resolve and morale.
We all need structure in order to thrive. And the advisory industry is often not exactly supportive of our thriving individually.
So we have to build our own structures, then be committed to functioning within them.

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