International Performance Group Inc. » The Great Industry Lie | International Performance Group Inc.

The Great Industry Lie

Joe Lukacs — Thu, 30 Sep 2010 17:22:01 +0000

It still amazes me how many financial advisors are poor business people. Now, they maybe a great financial advisor and loved by their clients, but yet they are their own worst enemy when it comes to success. There is still a belief out there that all you need to do is work hard and put the hours in, then you will be rewarded with success. That is one of the greatest lies permeated by our industry as a whole. If that were accurate, then the advisor who works the longest and hardest who be the most economically successful. Please watch my video below as I debunk these beliefs. Also, please take a look around my website, and if you want some of my help, please complete the evaluation form above.

The Rules Have Changed When It Comes To Influencing Clients & Prospects

Joe Lukacs — Tue, 09 Mar 2010 07:00:45 +0000

One of the challenges we have as an industry and I believe we do as professionals, is the set of tools that we are using to get the job done in terms of influence is antiquated. The concept of bringing a prospect in to our office, whether they are from a seminar, a referral, a cold call, etc and sitting down, finding out what they need technically and then going ahead and putting together a proposal. We then logically they go through their proposal, it sounds pretty good and they take action. That is the way it was until the fall of 2008. Then the last couple of year’s things changed. There is a lot of fear amongst investors and the old rules no longer really work. This also applies to your client base.

You have clients and sometimes you have to recommend they make changes in their investments. Most people will go ahead and make decisions emotionally and not logically. What we want to be able to do is really understand the human dynamics, the human syntax of decision making. Please listen to my expanded audio comments below and start you FREE trial membership at my virtual coaching site –practicepower.net

Walking The Walk

Joe Lukacs — Thu, 04 Mar 2010 22:11:42 +0000

What has been a shock to me for many years is the fact most advisors do not have their own investment plan, financial plan, and budget. Think about it like this. Let’s say you wanted to go to a fitness and nutrition trainer because you wanted to get back into shape and live a healthy lifestyle. When you met that person for the first time they looked absolutely like a train wreck. Fat, low-energy, etc. Would you hire them? Probably not.

Now when someone comes to us for advice because they can’t “see” behind the scenes they make assumptions. The problem is that you never will be able to communicate 100% with congruency because, in essence, you are living a lie. As advisors we must also be role models and coaches to our clients. I cannot tell you how many advisors I run across today in my travels are one bad quarter from bankruptcy. It’s time to become a model not just an in-congruent advisor. Please listen to my expanded audio comments below and claim you FREE trial membership at my virtual coaching site –practicepower.net

All Tasks Are Not Created Equal

Joe Lukacs — Tue, 02 Mar 2010 23:08:29 +0000

One strategy that I use with new clients, is to have them send me a copy of their daily to-do and call list. What most advisors do, is try to prioritize these tasks into some sort of high. medium, or low. Usually what I see is a huge laundry list of tasks and calls. I am sure some of you actually stare at that list for most of the day, frozen with the sense of overwhelm and not able to take action–”Let’s check the news or CNBC” you say to yourself.

What I have found in my coaching work with very successful advisors is the fact there are only 2 types of actions or activities. Those that lead to revenue and everything else. Take a look at your list for today or this week and ask yourself one question about each item. “Will this generate revenue in the next 30 days?” If so highlight it or tag it in some way. Focus on getting those actions done first. Please listen to my expanded audio comments below and claim you FREE trial membership at my virtual coaching site –practicepower.net

Welcome to March 2010

Joe Lukacs — Sun, 28 Feb 2010 16:57:17 +0000

I don’t know about you, but this year seems to be flying by. Now it’s March and it’s time to make sure you have written goals and a plan of attack for the month. Below is my list that will allow you to create a simple monthly game plan or use the Monthly Game Plan Builder at Practicepower.net.

Your Top 5 Goals For March (Please make them measurable and specific)
Your Marketing Activities for March (Introductions, Newsletters, Client Events, etc)
Your Personal Development Deliverable (Mental Diet, Exercise, Education)
A List of Your Top 10 Opportunities For This Month (Prospects, Client Upgrades, Events)

By creating this simple one page Monthly Game Plan you will have clarity to go ahead and create powerful Weekly & Monthly Game Plans. Please listen to my audio comments for more detailed information.

The Concept of Retirement

Joe Lukacs — Sat, 06 Feb 2010 19:14:23 +0000

Over my years of coaching, I have worked with those clients who have a goal to sell their business and retire. What I find most interesting is the fact that when they find someone interested in purchasing their business, the numbers rarely workout. Whenever someone purchases a book of business, all they are really buying is client goodwill–an intangible. If you have built a very successful practice, then chances are you are a driven individual. So, if you did sell and retire then what? I know that I am the type that would literally stick bike spokes in my eyes than be board. What would happen if you decided the semi-retire today and take mini-retirements throughout the year. Let’s handle the bucket-list while you have your health to enjoy it. If you really enjoy what you do then why would you want to stop doing it. Listen to my audio comments for more detailed information

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Get Out Of The Office

Joe Lukacs — Fri, 05 Feb 2010 17:15:54 +0000

There was a time that if you wanted to make money as a “stockbroker” or financial advisor you had to be in your office, at your desk, and on the phone. Fast forward to today, and chances are you lose money in your office and at your desk. Remember, we are in the people business which means our primary function is to communicate and solve peoples problems. In the Advisor 2015 practice model I want your office to be wherever you are at the moment. Technology and investment models allow us to un-tether ourselves from our office. Imagine the possibility of working, communicating, and advising your clients from anywhere in the world. Listen to my audio comments for more detailed information.

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The Concept of Strategic Time

Joe Lukacs — Wed, 03 Feb 2010 12:47:30 +0000

Over the last year I have come to the realization that trying to “think strategically and act tactically” each day does not work very well. When you jam too many different tasks inside of one day all you create is a feeling of overwhelm and a lack of continuity. The concept of Strategic Time is the adaptation of using specific days just for; working on yourself, working on your business, and downtime. Each month I block-out the last week to use as my strategic window to get some balance and work on some projects. As an advisors you probably don’t get paid by the hour, then why be concerned with the standard concept of time? It’s all about your output. Think about how productive you become just before leaving on a business trip or vacation. How about bringing that kind of intensity to your business and life each month. Listen to my audio comments for more details.

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The Decease of “Someday”

Joe Lukacs — Tue, 26 Jan 2010 17:54:41 +0000

One of the main tenants of Advisor 2015 is to stop thinking like most other advisors. If you think like the masses then you can never rise above them. How many times have you said to yourself “someday when I (grow my revenue, go independent, get caught-up, etc)”. That is the decease of “someday”! The New Advisor (NA) thinks in terms of concrete action plans and thinks for themselves–not being afraid of trying new ideas or strategies. Let me ask you a very important question. If you had the opportunity to build your business from scratch, what would you do different? Let me share some insights with you with my audio comments.

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The Concept of Time In The Advisor 2015 Model

Joe Lukacs — Wed, 20 Jan 2010 13:11:03 +0000

Why 9-5, why Monday to Friday, Why 4 weeks a month, etc? When I ask advisors how they created their schedules, the answer most always get is “I don’t know”, “This is what I have always done”. Now I will give you that a decade or so ago in order to be a successful advisors you had to be in your office and by the phone during market hours. With the advent of technology (The Internet), you now have the availability to conduct business anywhere you can find the internet. Yet most advisors operate in a model that is at least 20 years old. Let me paint a different picture for you with my audio comments below.

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