Daily activities

The Power of Fixed Daily Activities

Recently, a friend of mine told me how his wife got into the habit of eating three structured meals a day and going for a walk after each meal. It may seem like a small feat, but it caught my eye. We’ve spent decades helping financial advisors build habits, and there are many commonalities between exercise and building a business.

After a brief discussion, I learned that she was instructed to check her blood sugar twice a day, morning and evening, before eating. This was a pre-diabetic routine as her doctor was monitoring her levels. This motivated her to conduct her own research, drastically cut carbs, make exercise a priority, and eat three healthy, structured meals a day. Unexpected consequence: she loses weight and feels better about herself. I have a feeling she’s going to nip this fear of diabetes in the bud.

Such is the power of fixed daily activities in life. They are the ones who create the habits, and when they are intentional, they are usually good habits.

To bring this all back to the world of financial advisors, I received a text message the other day from a national sales manager asking me what specific activities I had mentioned during my presentation for a national call with his advisers about 18 months ago. He went on to say he’s worried the hybrid remote work environment has led many of his advisers to develop “rather haphazard” daily routines – “they’re more reactive than proactive.”

I had to confess that I was unsure of the details from almost two years ago, as the environment was, if anything, very fluid. But I knew what he wanted. He was looking for a way to help his advisers structure their daily routine. He was asking for help to access the power of fixed daily activities.

Here’s what I shared with this National Sales Manager – it’s a compilation of fixed daily activities used by today’s elite advisors.

Today’s fixed daily activities

  • Five customer calls a day – Each one should have a strategic intent, whether it’s to build connection, research potential prospect names, consolidate assets, or other important goals.
  • Five prospect calls a day – Think in terms of a mini-close, push each prospect a little further to become a customer. There are many opportunities created by the current market volatility.
  • One call per day to a potential prospect – These are people known to the advisor, but who have not yet had a business meeting. Be pleasantly assertive, ask for a meeting, but be okay if they’d rather not at that time.
  • One to two non-commercial client lunches (social activity) per week – the goal here is purely to build relationships.
  • One COI lunch per week – The main objective is to build the personal relationship; learning to know each other. The secondary objective is to help them understand the advice offered in this environment.

Of course, the numbers associated with each of these activities will vary from advisor to advisor. But you get the idea. We’ve seen advisors attract new clients through unsolicited word-of-mouth, penetrate deeper into their clients’ spheres of influence, consolidate their assets, get more and better referrals from COI, all while engaging in a routine. This is the power of fixed daily activities.

The secret is the structure of the daily routine. There’s no perfect routine – if you don’t want to call “potentials”, just focus on your customers. There are elite advisors who only communicate with clients and conflicts of interest (email, text, phone and in person) and as one explained to me: “ We were lucky to have unintended consequences; nurture assets and unsolicited referrals – we’re busier than ever. »

Whatever your approach, the fixed daily activities you perform will serve your business well, just as they will enhance your life. In a few weeks you will discover the power of fixed daily activities.

Matt Oechsli is the author of Building a Successful Financial Practice in the 21st Century: Attracting, Serving and Retaining High Net Worth Clients. www.oechsli.com