The 3 "M's" of Business Success
Stan Hustad, a performance coach and mentor, challenges people to become the kind of person they would love to have for a client. Learn success from one of the best.
The Three “M’s” of Business Success By Stan Hustad, Marketing Life Coach
As a business performance coach to many good folks in the financial services industry, I am always seeking to discover and create new approaches to the true business success we seek. Here are some that are currently making the rounds.
- You have to be an innovator to be successful (whatever that is).
- You have to be a collaborator.
- You have to have your own brand.
- The current big one is, you have to be on Facebook and know how to use social media; that is the key!
- I also have encountered approaches that I can only describe as, ‘Just sell lots of annuities to folks whether they need them or not” strategy.
And when all else fails, we tell folks that, “you just need to make more phone calls;” a statement that caused one young advisor at a conference I was speaking at to turn to me and say, “Whom should I call … and does he not know that a call to a person on the do-not-call list is a possible $11,000 fine?”
One of my clients recently introduced me to a friend and said, “Stan has more good marketing ideas than any person I know.” Later, in private, I thanked her and said that in these changing and difficult times that, “Right now I think I know more about marketing that does not work than marketing that does.”
So with that disclaimer, may I suggest some other possible hard-to-do success strategies that might work for you? I say hard because one of the truths of life many of us have forgotten is that achieving anything worth while is hard work; anything worth having is expensive.
The first key is marketing but—not the kind you get in all of those seminars. You must not do marketing. You must live the marketing life. Marketing is not just getting your message out there and jumping in front of lots of folks. Marketing is living a life that brings value and good ideas to others. The Marketing Life is how you treat others. It is bringing wisdom and insight into the lives of good folks. Marketing is being useful and helpful to those you serve. Please remember that in the marketing life you do not sell and then serve; you serve and then sell. So to be successful start thinking, and being, different about your marketing efforts.
The second key is Mentoring. I have recently written a book for financial advisors called, Having Conversations that Count: The Financial Advisors Guide to Performance Mentoring. Right now I have been told that the industry has an 89% failure rate for young and new advisors in their first four years! Why do we tolerate a system that is such a wasteful failure? Mentoring is a life decision to get deeply involved in helping another person be successful, and to challenge yourself to be a student of those who have gone before you and have stories of wisdom and experience to share with you.
Right now we are calling on companies, organizations and associations all over to give a renewed effort to create and make as one of their highest priorities, a program of mentoring for all. One of my colleagues in our mentoring project is a gentleman named Bob Clark, now retired, but who attributes his long-time past success as a General Agent to a consistent program of teaching and mentoring as a fundamental key to “how we did things” in his organizations.
The third is to seek wisdom in the Meaning of Life. One of my mentors told me that, “Stan, when the money is easy most folks forget what life is truly all about.” Well, now the money is not so easy and perhaps we need to rediscover that some traditional spiritual and relational values have a place in what we learn, how we teach, and what we offer to clients and prospects. Years ago, my mentor-at-a-distance, Earl Nightingale stopped me in my thinking tracks when he said in an audio program, “The key to success is simple; treat every person you meet as the most important person in the world.”
Right now, stop doing many of the things you are doing and give attention to The Marketing Life, being a Performance Mentor to colleagues and clients, and take some time to learn and share with others the purpose and Meaning of Life.
Stan Hustad is performance coach and mentor to business entrepreneurs. He challenges people to become one of the top 3% of the population who live with purpose, poise and a plan for serving others. Stan asks you to become the kind of person you would love to have for a client. He can be reached at firstname.lastname@example.org, www.stanhustad.com, www.marketinglifecoach.com