Thursday, December 13, 2007

Yo, Tis Da Season Fo Making Merry

"I grew up in a tough neighborhood. Walking towards the subway, a kid held me up with a knife.
I could tell
it was his first mugging because there was butter on it." - Rodney Dangerfield

A while back, I went to the local convenience store (which in my neighborhood is commonly referred to as a "stoh") and saw the first signs of Christmas in the Hood: A guy with a Santa hat and beard drinking swill out of a brown paper bag. After wishing me a drunken "Happy Holidays," he ambled off back inside the store for another 40 ouncer.

I thought to myself, "This wouldn't happen if I lived in Brentwood."

For many people, times are harsh and it is hard to hold onto visions of self-employment and a great lifestyle. Even mere solvency seems a pipe dream with the current mortgage crisis and inevitable downturn in the economy.
Those of us who live and die by commissions, gratuities, and management fees deal with uncertainty and budgetary crunches on a daily basis. We can't afford to take our eyes off the pipeline for even one second lest the
stream dry up.

I can't tell you how many financial planners, brokers, even CPA's have reported a significant downturn in their businesses. One RIA told me had to take a second job to meet his obligations and another has given up altogether and gone back to working as a teacher.

At the risk of being trite I want to tell you: "don't give up." Your clients need your creativity, knowledge, and foresight more than ever. They need your guidance and encouragement, and your skills in asset preservation and tax reduction. They need your friendship and kindness.

If you have to- take another job to feed your dream- just don't let it die. I have had to work two or three jobs for most of my life. it won't kill you and it can even get you out of the rut of office life. One successful RIA I know has a parttime job just to keep him in the flow and help him meet more people. Find a good direct marketing opportunity and stick with it. It might be a good source of cash flow and it definitely will make you more positive
about prospecting.

Become a visionary, a thinker of great thoughts, a doer of great deeds, and a more fun person in 2008. Don't let your practice run your life, but don't forget to invest in it either.

Above all, re-examine the reasons why you went into business in the first place. I hope it is to make money by
providing excellent and honest service to your clients.

I hope to post again before Christmas Day, so come back for a visit. And, if this is your first visit to the blog- don't forget to check out the archives and subscribe to the free e-newsletter.



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