In the video below, Scott discusses his mission to help advisors increase their MTE: Money, Time, and Energy. If you are looking to transform your income, look no further.
Does Your Income Need a Tinkering, a Tweaking, or a Transformation?
(Below is the transcript from the video.)
Hi, Scott Keffer here. I show veteran financial advisors, successful financial advisors, how to 2X their results by quickly identifying the hidden, what I call the emergency brakes in your business, so you can unlock results and jump to the next level.
Advisors come to me who are already successful, typically, they’re veteran, they’re successful from the industry standpoint, but it’s usually for one of three reasons. Number one, they feel the feeling that they’re stuck. The things that they used to do, are no longer working. They want to break through to the next level, but nothing seems to be working, so they’re a bit frustrated.
The second level would be, things are doing okay. They’ve reached, again, a modicum of success. The advisors around them might say, “Hey, you are successful,” but they’ve lost the passion. I’ll often hear this, “I’ve lost the fun in my business,” or, “I’ve just lost the mojo,” I’ve heard that.
The third would be those, again, who are considered successful by industry standards, but would say, “You know, I don’t really see my personal financial situation getting to the place where I’m going to be able to unhook from the business, get off the merry go round, if you will, and experience freedom and a security that I promised, independence that I promised to my clients,” and I help my clients do that.
Usually, one of those three areas, and it’s usually a dial somewhere between kind of mild frustration to aggravation. Sometimes, if they’ve been trying hard and it doesn’t seem to work and they’re really not sure what to do, it can really head all the way over to desperation.
One of the first questions you have to ask, because I always want to know for folks, do you need a tinkering, do you need a tweaking, or a transformation? Let me tell you what I mean.
You should sit down and write down … Literally, you have to take a pen and write down the amount of income that you believe you should be making, want to make, write it down. I want you to think about … First of all, write it down. I want to make sure you do this. It’s important that you write it on a piece of paper. And consider the following:
- How does that compare with what you thought you wanted to be making about now, and what you need to be making to really disconnect?
- Then, compare that to where you are currently, and then answer this question:
If that’s a 5% to 10% increase, essentially you’re in the tinker category.
If you’re in the 15% to 25%, you’re in the tweak category
And if you want a 50% or 100%, if you want to double your income, you’re in the transform category.
What do you I mean by that? Well, a 5% to 10% increase in your income, really just takes tinkering. In other words, you can do the same things that you’ve always done, you just have to do them a little bit better.
If you’re in the 15% to 25% category, you’ve got to tinker with what you’re doing. You can do the same things, but you’ve got to do them a lot better.
If you’re in the last category, and you really do want to double your income, which is folks that I really help, I love to help those who are in that category, although I can help them all, then you need to transform your income. You’ve got to do something different. If you want different results, you got to do something different.
We’ve all heard this, probably quoted that to prospects and clients. It was Albert Einstein who said, if you want a different result, and you keep doing the same things, yeah, that would be in the insanity category, because it’s just clear. I mean, he knew, right? That in equal and opposite reaction, you need action to create a different outcome.
So if you want to transform your income, you’ve got to transform what you’re doing, and I’m going to talk about the actions. But now that you have the amount of income, and I’m going to ask you to do this again, and put down the amount you really want to make. Not the amount that you would announce to anybody, because you’d be scared to write that number down, but the amount that you really do want to make deep inside, and I want you to write that amount down.
Then the next thing I want you to write down is what you would do with that amount of income. What you would do with that amount of income. And you’re going to think about what you would do in terms of, of course, you. What difference would that make for you? Personal growth, hobbies, what difference would that … the people that you care about most, family and friends. Then lastly, the causes that you care about deeply.
At the core of that, and the reason I ask you this, and this is really important, is that’s the why. The what you’re going to do with it helps you define why, and the why is the driver behind transforming your income, is really being able to be clear. It’s one of the first things I do with the advisors who come to me, is help them discover their why, and then make sure that’s the fuel that drives their transformation.
Whether you want to tinker with your income, that’s 5% to 10%, or tweak your income, or transform your income, I believe you should start with the why. One of the easiest ways to get to the why, is to think about what you would do with that extra income. What would that mean for you, what would that mean for the people that you care about most, and what would that mean for the causes that you care about deeply?
Because I’m on a mission to help advisors increase their MTE, what I call your money, your time, and your energy, that’s your profit trifecta, so that you can have a big impact on your family, your friends, your clients, and the causes that you care about deeply.
Your income transformation begins by answering the question, why?
Well, until next time, I’m Scott Keffer. Take care.