Have you ever wondered what the secret recipe is to remarkable success?
Julie Littlechild, founder of If Not Now Research in Toronto, may not have uncovered any secrets, but she has identified five traits shared by highly successful advisors. She made these observations through her research into what drives significant growth. Littlechild’s research focuses on advisors who are in the top 20% of their field, either in terms of assets or revenue.
Littlechild found that the most successful advisors share the following characteristics:
1. They’re optimistic
When most people think of a lofty goal, they tell themselves that it’s probably too unrealistic to achieve.
Many successful professionals, Littlechild says, will ask themselves, “Why not?” or, “Why shouldn’t I build a multi-billion-dollar firm?”
These advisors have the confidence in themselves to get to the top, Littlechild says, even if they haven’t yet figured out how to do it.
2. They seek out learning opportunities
Top advisors are always looking for ways to improve, Littlechild says. And they don’t halt that process after hitting a certain level of success.
It’s not uncommon for highly successful advisors to join study groups or mastermind groups so they can draw on the collective intelligence of others.
“They also spend time reading, taking courses and going to conferences,” Littlechild says. “They’re hungry for knowledge.”
3. They recharge
The fine line between “work” and “life” may be increasingly blurred. But the most successful advisors know when to put their business on pause and invest in themselves.
That could mean taking a sabbatical, turning off electronics, getting a full night’s sleep or engaging in physical activity, Littlechild says. These advisors realize that long hours of work are unproductive over the long term.
4. They’re passionate about their work
Top advisors thrive when they’re highly engaged with the work they do.
“When these people talk about their practice,” Littlechild says, “they do it with conviction and passion.”
Littlechild adds that all advisors should be asking themselves if they’re truly excited about the work they do each day.
5. They have survived hardship
The last character trait that makes a highly successful advisor is one that can’t be taught: many of the successful advisors Littlechild interviewed experienced a difficult childhood.
These advisors often reported hardships in childhood or youth, such as poverty or a parent leaving or passing away.
Says Littlechild: “There was something in their past that got them to say, ‘I want something different,’ or, ‘I want to do something that would have helped my family when I was young’.”