You've probably heard the definition of insanity, which is repeating the same thing over and over again, yet somehow expecting a different outcome. Well, if that's the definition of insanity, then theoretically, we should be able to flip that over and find ourselves a definition for genius. In other words, repeating the same thing, in order to create an exponential equal outcome, must be genius. And I'll argue it is. It's basically the concept of The RARE Advisor, because RARE stands for Recurring And Repeatable Events. We know in business if you're creating a failing result, and you're recurring and repeating it, you will continue to get a failing result. But if you create a positive result, and you continue to repeat and recur, you will get more positive results. And in time, that momentum is built up and you've got the flywheel approach. And again in time, the momentum of that flywheel will just keep it running on its own over and over and over again.
And that's ideal client introductions, which is a whole other system and process that we teach at USA Financial. The concept is that once you've built critical mass in your practice, your best clientele will be happy to introduce you to the birds of a feather that are always flocking together. Very different than referrals. A referral is you standing there with your hat in your hand - there's no good way to get a referral, it always crashes and burns. So don't even try a referral program. Referrals and introductions are entirely different things. You can check out a piece we wrote about this topic. You can also come to one of our Predictable Practice events to learn more.
That being said, part of living the RARE life is also eliminating unnecessary decisions. Because if you're going to have something that's recurring and repeatable, and it's successful, then why would you not do more of it? Because it gets easier and easier. But it also gets easier because it's eliminating the other complexities in your life. It's eliminating decisions that don't matter, that just get in the way of the decisions that do matter. We're getting pretty deep into mindset and entrepreneurial success factors. But as a simple example, just Google this statement or question: "why successful people wear the same thing every day". You'll find there is an unusually large volume of articles out there about ultra successful/genius/intelligent people who basically wear the same clothes every single day. And they do it because they don't want to think about it. They found out what fit, they found out what they liked, they found out what worked for them, and then they eliminated that decision moving forward. And there's an unusual amount of psychology built into that. We joke about this in my house all the time. Now for me, I have different clothes, obviously. But I do have those tendencies. If I find a shirt that I like, I don't want to think about it anymore. I'll buy eight of those shirts in eight different colors so that I can just grab and go. I do the same thing with my sport coats. I do the same thing with my pants. It drives my wife insane. Because once I find the right thing, I just buy it over and over again until they don't make it anymore. And then I'll go find the next one that can replace it. And I do that over and over. Because I don't want to think about these things. So whether you're looking at Steve Jobs and how he would wear a black, long sleeve shirt with his jeans, or whether you're looking at Barack Obama, and his dark pants, white shirt, and dark sport coat, there are countless other examples. It's not about wearing the same thing every day. It's about why are they wearing the same thing every day.
PS - if you're interested, we have a new, free report called the 'Advisor's 12-Step Reset for Predictable Growth, Value & Lifestyle'. It's a smooth, 12-step process that I've uncovered and discovered over my 35+ year journey in this industry. And it's designed to generate a predictable practice with automated revenue and lifetime rewards.
--
The RARE Advisor is a business model supercharged by Recurring And Repeatable Events. With more than thirty years of working with and coaching successful advisors, host Mike Walters (along with other leaders in the industry), discusses what it takes to grow a successful practice. With the aim of helping financial professionals and financial advisors take their business to the next level, Mike Walters shares insights and success stories that make a real impact. Regardless of the stage of your practice, The RARE Advisor will provide thoughtful guidance, suggestions for developing systems and processes that work, and ideas for creating an authentic experience for your clients.
The RARE Advisor is also a podcast! Subscribe today via Apple Podcasts, Google Podcasts, or your preferred podcast listening service for easier on-the-go listening.
