☕ Advisor Sunday Brew: Brains 🧠 , biceps 💪 , & meme coins 🐕

“The bad news is time flies, the good news is you’re the pilot.” 

–Michael Altshuler

Your willpower is like a muscle.

Continuously using your willpower over and over again depletes your resources and leads to exhaustion. 

(Which hurts your productivity, efficiency, and decision-making.)

Much like when you go to the gym, there’s a limit to how much weight you can lift before your muscles reach failure.

As an insurance or financial advisor, it’s not any one big decision that causes your willpower “tank” to go to empty. 

It’s the cumulative effect of dozens of small exertions that add up throughout the day.

By learning how to conserve willpower, you can perform at your best for the entirety of the workday. 

Here are a few research-backed strategies:

• Stop multitasking and work on one task/goal at a time.

• Use time blocking to reduce the number of times you switch between tasks.

• Put as many processes on autopilot as possible (including LinkedIn prospecting, managing your email inbox, scheduling appointments, etc.)

• Don’t make big decisions on an empty stomach. (The glucose in your bloodstream is responsible for fueling your source of willpower. It comes from carbohydrates. No food = no willpower.)

Just like lifting weights can beef up your biceps, making tweaks to your daily habits can give your willpower a boost.

☕  TL;DR: You only have so much willpower – conserve it by making smarter decisions throughout the day.

Marketing Psychology Quick Hit

One of the biggest challenges to selling whole life, term life, retirement planning, wealth management, group benefits, etc. is getting people to let down their guard.

They’ve seen these products 100s of times before and have probably even had a bad experience with a pushy salesperson in the past.

So you can’t always come at them directly.

The best thing you can do is REFRAME the ordinary into something unique.

Reframing an ordinary idea is ultimately a 3-step process:

1. Understand how the prospect looks at the ordinary idea 

2. Consider what you want them to believe.

3. Determine how you can get them to look at the ordinary in a new way that causes a light bulb to go off in their brain. 💡🧠

And do you know what I’ve discovered in my decades in the business?

It’s easier to change someone’s belief when they don’t feel like you’re trying to sell them on something. 

When I talk with advisors like yourself, one of my top suggestions is to reframe how you ask for an appointment.

❌  Don’t say: “Can we meet to discuss your finances and see if I have any services that may help you?”

✅  Insteads, say something like: “Would you be interested in having a 15-minute coffee chat to get to know each other better?”

If a prospect is in a sales frame of mind, they’re critically analyzing everything. 

But if you can reframe the appointment as a friendly “chat”, you’re able to bypass the brain’s “critical factor” and have a more meaningful conversation…

…one that could set you up for fees, commissions, or AUM down the road.

Give it a try this week and let me know how it does for you!

☕  TL;DR: Don’t ask a prospect for a “meeting.” Instead, ask for a “15-minute coffee chat.”

Weekly Industry Catch-Up

Crazy crypto swings…reports of the president’s new tax plan…new vaccine developments…

It was another interesting week in the markets.

Here’s a look at what else happened:

🔹 DOGE-Craze. On April 20, an energetic swarm of internet crypto traders planned to push Dogecoin “to the moon” 🚀  – a.k.a. to a $1 price point. They failed to reach their goal of 10X’ing the popular meme coin in a matter of days, but analysts warn against writing $DOGE off just yet. (Others say it’s just a Cabbage Patch Doll.)

🛑 Wait…full stop 🛑

What the heck is a Dogecoin anyway?

Glad you asked: It’s an alt coin that started as a joke based on a meme of a dog and eventually gained massive popularity on Reddit, leading to 6,000% gains in just 4 months.

If none of that makes sense…well…consider yourself normal.

Want to ask our resident Crypto Millionaire what it all means? 

Scroll to the bottom for a special VIP invite…

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