What has to happen? I have to work. Harder, smarter and more effectively then ever before. If I leave my success or failure to the whim of the market or economy, I have no control of my destiny.
If success comes from riding the wave, anyone could do this job.
Personal responsibility... reliance on one's own effort. That's always the key to success. It's the one over-riding factor that impacts an individual's success more than anything else.
OUR success, collectively, as wholesalers is impacted by the economy and by the market. Trends will impact the results of our actions.
We're insurance... or fund... or annuity wholesalers. I think the different categories of the markets will be impacted differently. For those among us pitching insurance products to distributors that don't consider insurance "core," I believe that a protracted, "U" shaped recovery will be what's needed to get the advisors focused on our business... on insurance... the "lift" everyone's looking for.
When the markets begin leaping (if they ever do), the advisors will be focused on moving money. Volatility is a massive distraction.
That said... those who work smarter and harder today are the only ones who'll pick up market share. Most of us will complain about the environment, using it as an excuse to take it easy. It's THIS market that will separate the long term winners from the losers.
I'd love to hear from other wholesalers on this topic. Do other insurance reps agree with my assessment? Do investment or annuity representative have a different perspective?
"The Value Added Wholesaler in the Twenty First Century" / Nick Murray
"Oh, The Places You'll Go" / Dr. Suess
Notable and Quotable
Albert Einstein
- - You have to learn the rules of the game. And then you have to play better than anyone else.
Nick Murray on Bear Markets
- - A traditional definition of a bear market is "a period of time during which common stock are returned to their rightful owners." The Murray corollary then goes on to say "A bear market is a period of time during which people who think this time is different sell their common stocks - at prices which will never be seen again - to people who know that this time is never different."
What has to happen? I have to work. Harder, smarter and more effectively then ever before. If I leave my success or failure to the whim of the market or economy, I have no control of my destiny.
ReplyDeleteIf success comes from riding the wave, anyone could do this job.
Personal responsibility... reliance on one's own effort. That's always the key to success. It's the one over-riding factor that impacts an individual's success more than anything else.
ReplyDeleteOUR success, collectively, as wholesalers is impacted by the economy and by the market. Trends will impact the results of our actions.
We're insurance... or fund... or annuity wholesalers. I think the different categories of the markets will be impacted differently. For those among us pitching insurance products to distributors that don't consider insurance "core," I believe that a protracted, "U" shaped recovery will be what's needed to get the advisors focused on our business... on insurance... the "lift" everyone's looking for.
When the markets begin leaping (if they ever do), the advisors will be focused on moving money. Volatility is a massive distraction.
That said... those who work smarter and harder today are the only ones who'll pick up market share. Most of us will complain about the environment, using it as an excuse to take it easy. It's THIS market that will separate the long term winners from the losers.
I'd love to hear from other wholesalers on this topic. Do other insurance reps agree with my assessment? Do investment or annuity representative have a different perspective?