Why Do I Need a Coach Podcast

The Getting Results Inc Podcast. Get your slight edge!

Many Financial Advisors will ask us or even a current Getting Results coaching client, “Why Do I Need a Coach?”

On this episode of the podcast, we discuss why having a coach is a game changer and what it will do for your business and your life.

Maybe you’ve figured out how to get your life and business in alignment and you are consistently designing a business and life that calls forth your soul and your potential. Maybe your business has become your practice of the WAY, and you have transcended the need to be ranked, get trophies, or be awarded with honors from others. Maybe you operate at a level of freedom and purpose that few people in the country operate at. You also understand and are very clear on your fundamental business model and you religiously adhere to it. If this sounds like you, my sincerest kudos. If not or you may still wonder, I suggest you read on.

There are two fundamental business models in financial services: quantity and quality. For those who are reading on, ask yourself: Which model do you run? The very tricky aspect is when an individual or a team tries to scale quality. It is very difficult and leads to much frustration and burnout as well as guilt. Think of the difference between a Burger King and a Ruth’s Chris. If you have over 150 relationships, you are leaning toward a quantity model. If it’s 150 (depending on body count) or under, it’s a quality model.

Quantity wins by scale. Think logistics, systems and bodies as well as surface relationships with clients. Quality wins by high touch, high service, and deep relationships. Once again, both models work and can be very profitable in both money and time. Both Burger King and Ruth’s Chris are successful. The problem is always the smoosh, and it seems every firm is pushing the smoosh. The smoosh makes you bolt on team members and do weird client appreciation events with 300 of your best relationships. The smoosh creates tension and confusion. But if you have clarity, everything becomes easier. The tricky part of this is that your clarity may be different from the firm’s clarity which yet again creates a point of friction. Clarity occurs when you truly embrace your model. It is either quality or quantity. It’s black or white, and you have to tell yourself the truth in the mirror that you run either a quality or quantity business. The truth will set you free. Most advisors think they run a quality shop, but it’s actually quantity in that they want as many clients as possible… just like the firm does.

Another question for the elite advisor: Do you own the business or does the business own you? One of the answers means you need us; the other is we tip our hat to you! Well played, sir or ma’am, well played. So how do you know if the business owns you? Sleeping may be an issue, your health maybe an issue, your marriage maybe an issue, you hate going to the office, you’re bored or you’re stuck, or sometimes you ponder what being a dentist would be like.

Good news and bad news: Help is available, but the bad news is you need to invest in yourself. You may say, “Well, my firm has free resources we can use.” Yes they do, and you should take advantage of them. But here’s something to ponder: Could it be that those very resources and ideas have the business owning you? And can they really help an elite producer like you? Rookies and newbies, of course, but you? You have been at the firm awhile…. Don’t kid yourself.

At Getting Results, we help the elite become elitier, and yes I know that’s not a word, but you do know exactly what it means, and we are not your standard business coaches who follow the magic three ring binder or handy phone app. We meet you where you are and then take you where you choose to go. We run a quality model by the way. Be adventurous. Let’s walk the path to the next evolution of you and your business. Gino Coppola