Have you paid your dues?
Hulk Hogan certainly did.
When the behemoth we now know as Hulk Hogan entered a local gym run by a pro wrestling legend back in the ‘70s, things didn’t go quite as he had planned. He assumed his 300-pound bodybuilder’s physique, good looks, and blonde hair would instantly grab attention and rocket him to the top of the industry in no time.
He was wrong. And painfully so.
During his first session, Hogan’s trainer exercised him to exhaustion and then purposely snapped his leg.
Wait. Isn’t pro wrestling fake? Yeah, it’s scripted, but to the performers –a notoriously superstitious and guarded bunch- the business and its secrets had to be protected from outsiders.
While physically impressive, Hogan had no credibility in the business. His trainer wanted to see if he had the stuff to make it and the willingness to put the business above himself. So he put the blonde monster in a grappling hold he couldn’t escape from and then bent his leg until it snapped like a twig.
(It’s hard to fake that move.)
Several months later, Hogan returned -with a healed leg- begging to continue his training. At this point, his trainer knew the Hulkster would do anything to protect the business and agreed to take him on full-time. The seeds of Hulkamania were planted, and pop culture would never be the same, BROTHER!
Hulk Hogan paid his dues. And while few industries require a broken leg as proof of commitment to the business, paying dues is the norm in some form or fashion.
School administrators are often selected from the ranks of experienced classroom teachers. Major League Baseball rookies wear girly backpacks as part of their initiation to the Big Leagues. College interns run around getting coffee for the team all summer instead of actually making meaningful contributions to the company they’re set up with.
Want to be a college professor? Good luck being anything more than an adjunct at a local community college with anything less than a PhD in your field.
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Many jobs require new hires to endure mindless tasks like filing, answering phones, data entry, taking notes during meetings, etc. You get the picture.
In most careers, paying dues is seen as a right of passage. However, for financial advisors, it really is just a waste of time.
Listen carefully because this is one of the BIGGEST mistakes financial advisors make.
You do not need to pay your dues in the industry. You don’t need to earn more credentials to be successful. Truthfully, most clients don’t care about that.
What they expect from you is trustworthiness and that you have their best interests at heart.
Want proof? Here goes…
In a 2013 Vanguard-Spectrem study of 3,000 investors with net worth ranging from $100,000 to $25 million, participants were asked to rank the main traits they desire most when choosing a financial advisor. A whopping 90% of the respondents wanted a financial advisor who:
-“is honest and trustworthy.”
-“provides transparency and keeps me informed.”
Your job is to sell and market TRUST, not impress people with your credentials. The better you get at establishing trust, the more ideal clients you will be able to serve and the bigger your book of business will be. It’s really that simple.
Building trust must be your primary goal, and it must be part of all of your marketing and sales efforts as early as possible in the process. So how can you develop trust to turn more prospects into clients?
Castor Abbott’s Trust Stacking™ system is based on the premise that we can shortcut the path to trust, credibility, and authority and get more clients faster by using behavioral psychology principles called cognitive biases (mental models humans have developed to reduce the time or energy for a task when making decisions) and advanced marketing strategies.
You may not have realized this, but you are actually using Trust Stacking™ concepts everyday to develop client relationships and prospects. But it needs to get bigger and happen at a faster pace. To learn how to structure and scale this process online, please check out our free training by clicking here: