I am a fan of professional wrestling and I\u2019m not ashamed to admit it. I kind of claim that I had no choice in the matter since both my grandfathers watched it, so I say that it\u2019s in my blood.<\/p>\n
I have known it isn\u2019t real almost ever since I ever watched it, but I also have watched Dallas that long and I know that\u2019s not real either.<\/p>\n
Even more than the technical aspect of a wrestling match, I am very interested in the business aspect of it. So a lot of time when I talk about business and getting clients, I use pro wrestling terms.<\/p>\n
The business of professional wrestling is about drawing money and getting rear ends in seats, that\u2019s it. Certain wrestlers are given a push to get over and some are buried because they\u2019re not drawing a dime. In English, a push is an attempt by the wrestling promoter to get that wrestler to win matches and get over (accepted) with the crowd. Sometimes the wrong people get pushed and business suffers (not drawing a dime) and they get buried (deemphasized).<\/p>\n
I liken my time at that semi-prestigious Long Island law firm (sorry, Lois) in wrestling terms. I could never get over by drawing money because the law firm refused to push me or the services I could offer. I wanted a national ERISA law practice and for some reason, they didn\u2019t want to push someone who had ambition and was a lowly associate. They pushed other attorneys; some even becoming partner and these attorneys couldn\u2019t draw a dime of business because they didn\u2019t have the capacity to get over (bringing in clients).<\/p>\n
What does this have to do with the retirement plan industry? Plenty. Whether it\u2019s a law firm, third party administrator, financial advisor, or even the Conservative synagogue where I serve as a trustee, you should never lose sight of why you are here. It\u2019s all about drawing money and putting rear ends in seats (having a client list that can financially support you) and everything else is secondary. Of course marketing to potential clients and actually servicing them competently is all about drawing money and it\u2019s part of the way of getting over (popular) with the audience (retirement plan sponsors) that translates to more clients. Just never lose sight of what pays the bills and that\u2019s clients and you can increase business by getting more clients. That is just a fundamental requirement of any business and I didn\u2019t need an MBA to figure that out, I just went to the WWE business school.<\/p>\n
Being a retirement plan provider isn\u2019t about having your office turned into a country club or serving some higher purpose because you see your business as something nobler than it really is. You are helping retirement plan sponsors and their employees; you\u2019re not doing the Lord\u2019s work. It\u2019s about doing everything to draw money and you do that by successful marketing and spreading the word about your work by doing a heck of a job by your current clients.<\/p>\n
Like I always say, it ain\u2019t brain surgery.<\/p>\n
<\/span><\/p>","protected":false},"excerpt":{"rendered":" I am a fan of professional wrestling and I\u2019m not ashamed to admit it. I kind of claim that I had no choice in the matter since both my grandfathers watched it, so I say that it\u2019s in my blood. … Continue reading