| In your business there is a lag time between actions and results. In addition, there is not always a direct relationship between the two, making it difficult to assess progress. The result is that we tend to judge our progress more on our current emotional state than reality. An advisor calls out of the blue expressing their interest in some of your products for a big trade and you get fired up and paint the future with optimism. Advisors who you have spent a lot of time with are not making trades and you think your efforts have been fruitless. Neither scenario reflects reality, but it is all you have to go on at that point. We also tend to judge our week based on lag indicators i.e., metrics that are a compounding result of things we have done previously. In wholesaling, the most common is your weekly gross sales. However, these lag indicators are often an inaccurate reflection of whether you did the right things during a particular week. You can sit on your hands all week until a meeting on Thursday, get a big trade, and feel like you had a great week! When pillars are established correctly, the completion of your weekly pillars (lead indicators) is a more accurate measure of that week’s productivity. The very concept of the pillar is that if you complete them week in and week out you are progressing. The business benefit is a more realistic view of your progress. The personal benefit is what I call “The Friday Night Feeling”. This is the peace of mind at the end of the week, knowing beyond a shadow of a doubt that you had an effective week and your business is moving in the right direction. So the good news about focusing on lead indicators is that YOU determine whether you had a good week. You execute on your pillars or other lead indicators and you can enjoy your weekend! |
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