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The last few years have been long and hard for many in financial services, with difficult markets, legislative change, squeezing margins and negative publicity creating a perfect storm that for some, has robbed them of their drive and energy.
This is the opening sentence of an article that we published over a decade ago, in RiskInfo magazine in 2012; and the only thing we’d add to that perfect storm today to bring it up to date might be ‘education requirements’. Thankfully, most of the conversations we’re having now are with firms saying that having put the FASEA exam behind them, they’ve finalised significant compliance updates and remediation projects and are finally in growth mode.
For those who haven’t yet reached the peak of the latest wave of change, we thought we’d republish this article – surprisingly, the proactive measures to rekindle your enthusiasm that we recommended back then still work today!
There are positive steps you can take to really get your ‘mojo’ back, when you’re feeling a little (or very) deflated, and these are relevant at any time, not just at times of turmoil. Our five top tips are:
1. Focus on things you can control – There will always be things that will affect you that are outside of your control and dwelling on these factors will achieve nothing. Rather focus on what you can control – that is, how you choose to react to your changing environment.
2. Revisit your original purpose – Take time out to remember and focus on what attracted you to this profession in the first place. You may be a ‘people person’ and enjoy building relationships with your clients. You might be a problem solver, who loves the technical aspects of advising. Or you may just enjoy helping people and making a difference in their lives.
3. Get your house in order – Take the opportunity to work on your business. With all the changes happening, some feel that they have lost control of their business. You can take positive steps to build, or rebuild, the business you want to take you forward into the future. You will feel so much better once you clear the fog and start to make those critical steps in the right direction.
4. Reach out to your clients – Ask them for feedback on their relationship with you. It might provide you with a much needed boost, and even lead to referrals. They may also give you some feedback on areas in which you can improve, which might be hard, but is good for all sides in the long run. You will cement your relationship with your clients if you fix their problems and value their opinions.
5. Have Fun! We spend so much of our time at work, so why not add some fun to it. Your mood will impact on those who work around and for you, so make the time to socialise with your staff and colleagues regularly. It can be as simple as Friday afternoon drinks, a Lotto syndicate, a corporate sports event or a simple walk with your team for an hour at lunch. These sorts of non-work activities shared by all will lift the spirits of the whole team and lead to greater productivity.
So shake yourself out of that slump, be proactive and get your mojo back – ‘Yeah Baby’!
Related: More Than Money: Making Sure Your Biggest Asset is Protected