☕ Advisor Sunday Brew: How to support a community on $2,000 (or less)

“Compassion is the ultimate expression of your highest self.”

-Russell Simmons

The First Sip

While many insurance and financial advisors in our tribe have done exceptionally well over the past year, I know plenty of business owners are struggling to make ends meet.

In some industries – like the restaurant industry – the past 12 months have been incredibly difficult.

But when fire gets hot, you find out what people are made of…

People like Adolfo Melendez, who owns the El Mezcal restaurant in Stevens Point, Wisconsin.

Adolfo understands the impact COVID-19 has had on his corner of the world more than almost anyone else. 

His family-owned business has seen revenues slow down (and even stop) for much of the past year. 

But he’s not letting that touch his spirit.

Rather than setting aside what little excess money he has in the business to promote the El Mezcal restaurant, Adolfo took the cash and purchased more than $2,000 worth of gift cards to OTHER local restaurants in his neighborhood.

He’s then spent the last several weeks raffling them off to his customers via Facebook.

Rather than viewing these restaurants as competition, he sees them as small businesses just like his own.

He views the individuals behind these businesses as people…with families, dreams, and aspirations.

Adolfo knows the heart, soul, and sweat it takes to build a profitable business and wants to be sure that no restaurant owner in his community has to shut down.

And while he knows $2,000 in gift cards won’t be enough to sustain these businesses, Adolfo hopes this small token encourages others to step up and do the same.

“In these COVID times, it’s very important to eat at local, small mom and pop shops,” says Peter Ananiadis, owner of the Olympia Family Restaurant nearby. 

“Aldofo understands that.”

There’s a time for buckling down and beating out the competition.

But there’s also a time for supporting honest and hardworking people when they need it most.

In light of this, I’d like each of us to ponder ONE small step we can take to help someone in need this week.

People helping people…that’s what makes a neighborhood a community!

1 Caffeinated Neurohack

No doctor is going to diagnose you with a case of “brain fog,” yet we’re all familiar with what it feels like. 

Difficulty concentrating…

trouble staying engaged…

feelings of confusion…

fatigue…

irritability…

You know the drill.

And while brain fog isn’t usually the result of a serious health condition, it can still be incredibly frustrating – especially at work.

Thankfully, there are ways to punch back. 🤜💥

One of my favorite methods is to go outside.

Whether you’ve got snow on the ground like I do up here in Boston, or you’re in a warmer climate where the weather already feels like spring, spending time outside is a great way to beat brain fog.

According to one study, people who spend at least 90 minutes per day walking outside have significantly lower levels of cortisol and depression. 

Being outside is also shown to improve both focus and concentration on key tasks.

And as you spend time outdoors, your body naturally absorbs Vitamin D, which is known to play an important role in short-term memory function. 

Combine this with a physical activity like walking, which releases endorphins and improves circulation, and your brain finds a way to cut through the fog and zero in on the day’s most important tasks. 

Make some time to go outside this week and let me know how it goes!

I just recently spent some time hiking in the (snowy) mountains and…let me tell you…the amount of clarity it gave me was ah-mazing.

I even posted a video over in the Facebook group about an email hack that came to mind when I was on my hike.

I’m not just asking you to do random things…these are strategies that I use in my everyday life!

Marketing Psychology Quick Hit

I want you to imagine the best little farmer’s market in your town.

It’s a warm Saturday morning and you’re strolling from booth to booth when you happen upon a couple of stalls selling jam.

The first stall is selling 24 different flavors of jam, while the second one is selling just 6 types. 

Which stall do you think you’d be most likely to stop at and taste samples of jam?

If you choose the stall with 24 flavors, you’re not alone. Most people do the same.

After all, more is better.

Or is it…?

In our minds, we believe that choice equates to control. In other words, the more options we have, the better.

But in reality, choices create a feeling of overwhelm.

In a classic research study, a team of psychologists performed this exact experiment.

They set up two stalls – one with 24 flavors and another with just 6 flavors.

And while the stall with 24 flavors enjoyed significantly more foot traffic, just 3% of people ended up purchasing a jar after tasting.

The stall with 6 flavors had a much smaller flow of visitors, but an incredible 30% of tasters became customers.

 

In other words, customers who are given too many choices are 10X less likely to buy.

This phenomenon is known as the Paradox of Choice.

When people have too many choices, they often feel less happy, less satisfied, and cognitively paralyzed. 

The takeaway for us, as advisors, is to be mindful of how many choices we’re giving prospects. 

Rather than shoving seven or eight different plan options in front of them, why not present just two?

If the prospect doesn’t like either of these options, you can always go back and provide more – but lead with simplicity!

What’s New With Advisorist

[✍️] Bitcoin for Advisors: A Primer for What’s Next!

Enjoy Your Sunday,

Jeremiah

 

Jeremiah Desmarais

Jeremiah Desmarais

Jeremiah is the founder and CEO of Advisorist® and is a 23-time award winning financial marketer, a TED speaker and philanthropist. He’s been featured on Forbes, CNN, and Worth. His work has generated over $2 million insurance leads and helped advisors in over 51 countries generate over $300 million in sales commissions. He is the author of the best selling book, SHIFT.

Leave a Reply

Your email address will not be published. Required fields are marked *