Boy did I get a taste of my own medicine last night. My husband who is so calm and mellow by nature was really riled up talking to me about my business. I just sat there listening and smiling. While I have spent years helping female financial advisors recognize their true value and motivating them to ask for what they are truly worth, here was my husband telling me the same thing and HE WAS RIGHT. What is it about us women that cause us to undervalue ourselves?
This goes back to the same message I share with all the female advisors I work with, your real success is going to come from making mental leaps or shifts. While all the systems and processes or important even essential to a successful practice it’s the changes you make in your mental attitude and approach to your business that will have the greatest and most significant impact on your growth.
A common shift with female advisors is recognizing that by accepting anyone (with little to no money) into your practice you are doing NO ONE a favor. Most female advisors struggle turning clients away. This is when your ability to nurture turns from your strength to your liability. In my coaching practice I will not exceed my limit of 1on1 clients, when I go over my limit (15) I am less effective and my clients receive less than my stellar coaching value. I know at what point my value is at it’s peak.
Another area that women struggle with (me included) is asking for what you are worth. This is when we need a little more testosterone, a little more of an ego in order to recognize what WE bring to the table and be able to present our value and fees with equal conviction. As women we must stop discounting, we must stop thinking that we are lucky that clients want to work with us. When we can truly say “They (your clients) are lucky I am willing to manage their money” is when your production will start to soar.