Becoming An Enlightened Financial Advisor Of The Future

By Max Bolka

© Copyright 2012 Max Bolka
Reproduction In Any Form By Written Permission Only

Sometimes inspiration comes from the strangest places. As I sat at the computer,
ready to come up with a topic for this month’s article, I noticed Tina Turner’s
What’s Love Got To Do With It playing on Pandora. And then it hit me…

More Than Just A Four Letter Word

Love is more than just a four letter word. Rather than being narrowly defined
in a romantic, emotional or marital context, a broader definition of Love might
also include altruistic qualities such as care, compassion, trust, authenticity,
appreciation and giving. Do these traits have any place in today’s fast paced,
left brained, high tech world of entrepreneurship and financial advising?

The concept of Love, in this broader context, is rapidly changing from an idea
whose use has previously been viewed as inappropriate in a business setting,
to becoming a key competitive advantage in today’s business world. Within
a few short years, the implementation of many qualities often associated
with Love may very well evolve to become a minimum standard requirement
for achieving success.

Using the model of The Big Ten Questions Every Client Is Thinking,
Even If They Don’t Ask, (for a complete list of The Big Ten Questions,
email info@maxbolka.com), we find many parallels between each question
and the concept of Love as a way to develop a viable, meaningful mission,
including many industry best practices.

Can we blend the hard core, practical business applications of the head
with the more subtle yet profound, evolutionary qualities of the heart,
to form a new paradigm for serving Clients as an Enlightened Financial Advisor
of the future? Let’s look at the first of The Big Ten Questions:

#1 What Do You Do For A Living? = Love What You Do

When I graduated from college, I signed on with AT&T in their management
program. I was on the fast track, making excellent money for such a young
person. But it took less than a year for me to figure out that I was unhappy.
I was an entrepreneur at heart. I subsequently quit and went to work for
a small Investment Banker, and within three years, left again to start
my own nationwide financial planning and investment advising firm.
Today, 30 years later, I still serve as a consultant to the industry.

While there’s no scientific evidence for the old adage, “Love what you do
and the money will follow,” it sure sounds like a lot more fun to me.
Working eight hours a day (or more) at a job you hate weighs you down
and can lead to poor physical and emotional health.

Jordan & Jobs

While there are lots of people who have made a fortune doing what they hate,
many of the most successful people I know, including Michael Jordan and
Steve Jobs, will tell you that their secret is, “I love what I do.  I’d do it for free
if they didn’t pay me.”

Money was never their issue. In Jordan’s case, it was a matter of becoming
the best, and taking the game to a new level. For Steve Jobs, it was a vision
for changing how the entire world worked, played and communicated.
Both of them danced to a different drummer. They endured distractions,
sometimes even hardships, while facing tremendous pressures, but stayed
true to themselves each step along the way. (Listen to Steve Jobs 15 minute
commencement address on the internet to Stanford University). While we
may never reach the heights of these two great entrepreneurs, every one of us
can apply their wisdom to our own business.

Combining Your Passion & Paycheck

One of the biggest advantages of being an Entrepreneur, and specifically,
Financial Advisor, is that you have complete freedom to combine your
passion with your paycheck. You can offer almost any product or service,
to any type of clientele, live anywhere in the country and structure your
business to fit your lifestyle. You can upgrade your clientele and literally
earn as much money as you like, while enjoying the personal satisfaction
of making a positive, significant impact in your clients’ lives.

One of the first clients I mentored was a woman whom we’ll call Janet.
Janet had gone to school 30 years ago at the urging of her mother to become
a lawyer. She was bright, articulate and ambitious. Over the years, she ended
up narrowing her practice to Family Law, which included many cases on
domestic violence. She would go to court day after day, and fight for the rights
of women who were being taken advantage of. It was a noble cause. The problem
was she hated it.

By the time she got to me, 15 years ago, she was burned out. She began to resent
her clients because many of them were poor and she often had to wrestle with them
just to collect her fees.  She was putting on weight and her health began to fail.
It was obvious she had changed and had outgrown her career. The entire legal
system no longer resonated with who she had become.

However, she had invested a lot of time, effort and money into her career.
How could she call it quits now? What would she do? Where would she go?
How could she reinvent herself? Doubt paralyzed her.

What Would You Love To Do?

A common stumbling block to loving what you do when it requires big changes
is the lifestyle one has already carved out. We would rather be certain and
miserable than face the uncertainty of being open to all possibilities, trusting
in our abilities and having faith that everything will work out. The truth is,
things are desperately trying to work themselves out, but we keep getting in
the way by resisting. How much more misery would Janet choose to endure
before she would make a change? To add to her dilemma, Janet and her husband
were now getting a divorce.

Because there is no one right career, a good question to ask in cases like these is,
“What would you do if you had all the time, money, contacts, energy and resources
in the world? In other words, if you had all the freedom in the world, what would you
love to do?

Janet indicated that her passion was money and finance. In fact, during her divorce,
her father suggested she see a financial planner, who proceeded to help organize
and simplify her finances, plan for her future, and invest the proceeds from her
divorce appropriately. Janet loved the process so much, she started thinking
about changing careers. I reminded her of the above quote by Michael Jordan
and Steve Jobs. The light was starting to go on.

Examine The Facts To Remove The Fear

The much harder part was convincing her it was OK to make such a dramatic
change after having invested so many years in the legal profession. Janet’s case
wasn’t difficult or lengthy. The material lifestyle she had carved out wasn’t
particularly extravagant. In fact, as an independent attorney, she was barely
breaking even. We both agreed she was better off taking an entry level position
with a Financial Planner, and eventually start her own company when she
had saved enough money. She would immediately earn more money than
she was currently making as an attorney, and she would receive benefits,
something she had previously denied herself.

Today, Janet takes home over $300,000 a year as a Certified Divorce Planner ™,
helping couples resolve their differences in an equitable manner, preserving their
capital in the process. She loves sharing her own experience to help alleviate
her clients’ fears and show them how they can keep their personal relationship,
as well as their money, intact despite their divorce. (Disclosure: n some cases,
Janet still must go to court on a limited basis.)

Love It Or Leave It

Life’s too short. Make room for someone else who will do a better job and appreciate
the opportunity. Celebrate the fact that you found out who you are and what
you love to do. Then go out and do it. As Steve Jobs said, follow your heart.
We all like to do business with people who are happy. Why not be that happy
person to whom others are attracted? If you do what you love and you are
successful, you’ll be rich and happy. If not, you’ll just be happy.

Here are some questions to ask yourself to begin bringing you closer
to doing what you love:

• If you had all the time, money, contacts, energy and resources at your disposal,
  (in other words, all the freedom and no excuses) what would you do?
• Would you do it for free if you could?
• What are you most passionate about?
• What are the primary financial benefits you provide to clients?
• What are the primary non-financial benefits you provide to clients?
• What personal qualities are missing from your business?
• How might you structure your business to express more of 
  your passion, these benefits and qualities?

What’s Love Got To Do With It? Just about everything. God bless Tina Turner.
I’m just grateful that on this particular day, Pandora wasn’t playing B.B. King’s
classic, The Thrill Is Gone.

Max Bolka is a 30-year veteran of the financial services industry,
who developed a nationwide planning and investment clientele.
Today he builds first-class financial advisors and enlightened
entrepreneurs of all kinds through his professional speaking, writing
and mentoring. You can visit his website at www.maxbolka.com
or contact him directly at (800) 472-3288.

By Max Bolka

© Copyright 2012 Max Bolka
Reproduction In Any Form By Written Permission Only

Stress management is on everyone’s mind today, and scientists are starting to verify the advantages of the regular practice of stress reducing techniques, such as meditation. Meditation releases stress, providing physical, mental and emotional benefits which can help entrepreneurs not only feel better, but feel better about themselves as well, increasing their creativity, intelligence, organization and relationships. All of which can lead to a bigger bottom line.

Admit it…business can be stressful. If those six calls you received this morning from others who were stressed out didn’t get you down, the client complaint you’re about to receive this afternoon might do it. Add to that your financial pressures and personal responsibilities, and it can be difficult for entrepreneurs to adhere to Kipling’s quote, “If you can keep your wits about you while all others are losing theirs…The world will be yours.”

The Goal Of Meditation

Forget sitting cross legged in a cave and fasting for weeks on end. Meditation has gone mainstream. (See Time Magazine Cover Story, August 4, 2003.) 15-20 minutes twice a day and you feel like you just got eight hours of uninterrupted sleep. Feeling blissful is not the end result, however, but rather a by-product of the many psycho physiological (mind-body) changes which take place while engaged in the practice. The real goal is to release the stresses and strain from the physiology, so when you come back into activity you are more dynamic and focused, and therefore, more productive.

Any system starts to break down when exposed to prolonged periods of stress without sufficient relief. In many cases, this shows up in physical decay, mental sluggishness and emotional aberrations. We start relying on caffeine and drugs to get through the day and go to sleep at night. We make poor judgments regarding our business, personal and clients’ challenges. And we can notice an increase in negative emotions such as irritability or depression.

The Mind-Body Connection

Ever had one of those days where everything goes right? You know, clients may still be calling you 100 times a day, but it doesn’t seem to bother you? This is called being in The Zone. Meditation not only relaxes you, but elivens you as well. It enables you to naturally stay in the zone more often, for longer periods of time. You start to side step the arrows that are coming at you all day long. You look better and feel better, and your produce more, more effortlessly. Here’s why:

For every thought and feeling we experience, there is a corresponding physical component. Scientists can now measure the biochemical changes in the body and the feelings associated with them. When you’re relaxed, happy, working in The Zone, you literally produce “feel good chemicals”, such as natural pain killers, called endorphins. The body also automatically balances its natural energizers, such as norepinephrine, with the biochemical serotonin, which creates a sense of calmness and well being. In addition, the body also manufactures arginine vasopressin, which the medical profession now knows is associated with mental alertness. In other words, when you meditate your mind and body come back to a calm, but alert state.

Similarly, we could stop and take a snapshot of the body’s biochemical structure when you feel stressed out and tired, perhaps feeling irritable. In this case, we would likely find too much adrenaline from your reaction to the fight or flight response. We might also see a decrease in the electrical conductivity of your skin, as measured by your galvanic skin response (GSR). And of course, your muscles may tighten up, leading to a headache or pain in another part of the body.

Meditation allows the mind to naturally settle down to progressively deeper levels of rest…and the body follows. Breath rates are routinely measured at eight times deeper during meditation than that of the deepest sleep, even though you are fully alert and aware of your surroundings. At this deep level of rest, the body’s own healing mechanisms have a chance to kick in, repairing damaged cells and rejuvenating the system. This is why, whenever you’re sick, the doctor always tells you to get plenty of rest. It’s like medicine for the body.

The result it that you have more energy, let’s say at three in the afternoon, with which to finish those projects or call those clients that normally would be put off until another day. You also find that clients are more attracted to your renewed energy and sense of enthusiasm. While no one can prove it scientifically, everyone understands the principal that the healthier we are, the more money we can make from the increase in both the quantity and quality of our activity.

Expanding Your Container

Psychologists and neurologists tell us that most people probably use only between 10-15% of their brain’s capacity. I would suggest that this means most of us are operating at about 10-15% effectiveness or productivity. The challenge of earning more money is not one of methodology, but of capability. Your income can only grow to the extent that you do.

Acquiring specific business skills, such as knowing how your clients think, learning more great sales and marketing techniques, and having access to better time management tools, will only go so far if your ability to implement them is limited by your own brain power. As I coach, I often hear, “I know what I should be doing, but there are all these obstacles. How do I gain the ability to implement?”

The key is to unlock that other 85% of your brain, and meditation helps.

Meditation relieves the physical stresses that are currently using up valuable mental and emotional resources, freeing up your mind and nervous system for more productive activities. It’s like food for the brain. You make better decisions, seeing possibilities of solutions to problems where none seemed to previously exist. You feel more relaxed and genuinely confident in your dealings with people, and others can tell the difference.

In effect, you access more of the previously untapped 85% of your brain. With practice over time, your mind and body get used to operating from that expanded level of consciousness (awareness), enabling you to create better results, including better clients, more income and more job and personal satisfaction.

Does It Work In The Real World?

Many studies document the benefits of meditation in the workplace. Some go back further than you might expect. For example, at the start of 1988, Nationwide Mutual Funds offered meditation to its entire sales staff of 350 people. After one year, 55% had taken part. Before year end, sales in the company as a whole had increased 250% over the previous year, with meditators accounting for the bulk of the increase.

Participants also reported decreased insomnia, increased energy and motivation, along with improved relationships, both personal and professional. Meditators said they subjectively felt an increase in their ability to communicate, with a greater sensitivity to the needs of others, both at home with their family, and at work with clients and co-workers.

In business today, distinguishing yourself as trustworthy remains one of the main challenges. If meditation really can produce the side benefits of increased awareness and sensitivity, leading to improved relationships, it might just be a key factor in creating more credibility.

In other words, entrepreneurs who meditate don’t just act more trustworthy, they actually become more trustworthy, genuinely placing their clients’ interests first, while simultaneously earning more money. It’s a win-win situation for everyone.

Meditation is distinguished from Concentration (forced focusing on an object, such as a candle), Contemplation (verbally asking yourself how to get more clients), Visualization (seeing the outcome of lots of clients ahead of time), or Affirmation (repeatedly stating that you will get more clients, or that you already have more clients). These can all be useful techniques in certain circumstances, they’re just not meditation.

It’s best to practice your meditation twice a day, for 15-20 minutes each session. It takes a few minutes for the mind to settle down, so less time per session won’t be nearly as effective. By meditating in the morning, you calibrate your mind and body, tuning it up and getting it ready for your day’s activities. Less stress comes in throughout the day. You stay more centered in The Zone. Do another session in the early evening, preferably before dinner. Food tends to crank up the body’s metabolism while digesting, and it’s usually difficult to settle the mind down when the body is fueling its fire. Instead of having a drink before dinner when you come home after work, try meditating. Think of it as “Happy Hour.”

You can meditate anytime, anywhere (except during activities such as driving, where you need your full attention on what you’re doing). Noise is not an obstacle. Many businesspeople do their meditation on airplanes or trains while commuting.

Summary:

Science is now starting to verify what people who meditate have subjectively reported for years; That regular meditation increases creativity, intelligence, organizing power, health, personal relationships and yes, even business. Try it, you’ll like it. What have you got to lose, except a little bit of stress?

To Learn More About Vedic Meditation Contact Our Office.