Finding Value in Ancillary Learning

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It’s no surprise that those who do not learn from the error of their ways are destined to repeat them. We should learn from our mistakes as well as those of our peers. Obviously, most advisers would love to reduce “working harder” if they could simply “work smarter.” As a coach, this is one of the messages I emphasize.

Wouldn’t it be great to learn from our colleague’s successes as well? Mastering ancillary learning is essential in taking your business to the next level.

Let’s take a look at how ancillary learning worked for three of my client advisers.

Remain Calm

During a weekly coaching session, Seth—a veteran financial adviser with 10 plus years in the business—wanted to review an upcoming appointment he was going to have with a prospect. I’ve created a tool, The Second Appointment Worksheet, which outlines a psychological step-by-step process for closing an appointment. After learning the process and then practicing it through role playing, Seth felt he was ready. Unfortunately, the next morning his computer crashed just minutes before the prospects were to arrive. However, he had his recommendations already printed out, had filled out his Second Appointment Worksheet and knew what the structure for the appointment was going to be. He remained calm despite the computer glitch and closed the prospects.

Be Prepared

Chris, a veteran with eight years in the business, wanted to review an upcoming appointment with a $2 million prospect who lived four hours away. As we role played, I realized that he was missing some crucial psychological steps, so I told him Seth’s success story. We went to work duplicating the process using the same tool. After learning the process and practicing it by role playing the appointment, Chris felt he was ready. The next morning, Chris was surprised when he received a call from the prospect (a few days before their scheduled meeting) who was in town and wanted to meet that day. In fact, he was right around the corner and could stop into Chris’s office anytime. Chris agreed to meet, got off the call and reviewed our coaching conversation from the day before. After his meeting, he called to tell me that he closed the prospect with very little notice thanks to our dialogue.

Replicate the Process

It didn’t take long to put the step-by-step process to the test when my coaching client, Stephen, explained that he had two insurance cases he wanted to close. We went to work replicating the process that Seth and Chris had both had success with. During our next group coaching call, Stephen announced that he closed both prospects.

Part Art and Part Science

These advisers were successful because they learned how to connect with the process, customizing it to fit their own personality and scenario. In other words, “the art” was to make it their own, and “the science” was to use a proven process. They became more successful by simply learning how others in their field had done so.

Dan FinleyDaniel C. Finley
Advisor Solutions
St. Paul, Minn.

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