“Be not afraid of growing slowly. Be afraid only of standing still.”
Hey Sunday Brewers!
Want to learn how to improve your learning retention as an advisor?
Do you know how to identify a client’s “money scripts?”
Curious how 1 advisor turned a cold prospect into $100k in commissions using a dead-simple concept?
We’ve got all of that…and more…inside today’s Sunday Brew!
The First Sip
In India, a 104-year-old woman has finally learned to read and write.
What prompted the centenarian grandmother to learn?
Watching her great grandchildren.
“I always wanted to learn… but I could never study because I had to do household chores,” Kuttiyamma says.
After marrying at the age of 16, she’s spent her entire life raising children, tending to her garden, feeding chickens, and serving others.
She always dreamt of being able to read and write…
…but there was never an opportunity (until now).
“I would sit next to my grandchildren while they studied and observe carefully. Then a teacher said she would give me books if I was interested,” she recalls.
“I read those books over and over again. I asked questions if I couldn’t understand something.”
Kuttiyamma scored an 89/100 and passed the literacy exam on the first try.
If that’s not a testament to an “A-Player” attitude, I don’t know what is.
It’s okay to not know something.
The only question is…are you willing to ask the question?
Let’s make it our mission this week to learn something new.
And if you don’t know the answer…remember that a 104-year-old woman just learned how to read and write for the first time.
No excuses!
1 Caffeinated Neurohack
Want to learn something new?
Try using as many learning “modalities” as you can.
For example, physically writing something down increases your chances of remembering it.
Your mind can actually recall where you wrote it down (i.e. “on the upper right corner of the page”).
It’s been shown that the best way to learn is to hold something in your hands and read through it with a pen.
So, next time you really gotta learn something…I’d encourage you to take some notes by hand!
(By the way…this is one of the reasons we’ve launched The Virtual Advisor print newsletter…which just so happens to be shipping out this week! If you haven’t already subscribed…sign up ASAP and you’ll receive Issue 2 next month. )
☕ TL;DR: Want to improve your learning retention? Write it down.
Marketing Psychology Quick Hit
Research shows that financial attitudes influence which people seek investment advice and which ones avoid it.
The study, published in the Journal of Financial Therapy, indicates every person has an ingrained “money script.”
This is a person’s beliefs about money, which are developed in early childhood.
These scripts can impact a person’s relationship with behaviors like gambling, saving, investing, financial infidelity, etc.
As an advisor, the sooner you can identify a client/prospect’s money script, the more likely you are to interrupt their destructive behaviors and help.
The 4 basic script categories are:
- Money Avoidance
- Money Worship
- Money Status
- Money Vigilance
Want to take a deep dive into this topic and learn how to identify your clients’ money scripts? Check out this guide!
☕ TL;DR: Everyone has a “money script.” Do you know your clients’?
What’s New in SHIFT Nation?
Want the framework Gene used to turn a cold prospect into $100k commissions? Click the post above and comment “CHECKLIST.”
Weekly Industry Catch-Up
🔹 Jobs ⬇️, Wages ⬆️. Job growth cooled to +328,000 in May, signaling a slower job creation pace ahead. Still, economists expect wages to increase by 0.4% from April.
🔹 Housing cooling. In a relieving turn of events for millions, long-term U.S. mortgage rates inched down this past week. But with rates still north of 5%, economists predict a cooling housing market may be imminent.
🔹 Debbie Downer. Elon Musk says he has a “super bad feeling” about the economy, even going so far as to send out an email to all Tesla employees to expect a 10% cut in salaried workers. When asked for his thoughts on Musk’s pessimistic view, President Biden quipped: “Lots of luck on his trip to the moon!”
Go get ‘em,
Jeremiah D. Desmarais
CEO, Advisorist
#1 in ROI-Driven Training for Advisors
