5 KEYS TO DEVELOPING GREAT LEADERS ON YOUR TEAM
Many Financial Advisor/Reps want their team to “take ownership” of the business and manage operations so they can do the one thing they love to do…just see people and generate revenue. Isn’t that the dream? To live that dream you must develop “leaders” on your Team who can run and manage the business. The following are 5 Keys to help you grow, train and develop great leaders:
1. TURN-KEY INDIVIDUAL GROWTH PLAN:
Every Team Leader should write their Individual Yearly Growth Plan.
At the beginning of each year you instruct every Leader on your team to write their individual growth plan for the year. This plan can include industry courses, licenses to be acquired, leadership training, books they will read, vacations, health plan, exercise plan and more. The objective is to instruct the Leader to think and write a plan that will help him/her grow their knowledge, skills and leadership abilities. After they finish the plan you will meet with them to discuss the plan and add your ideas. The written document becomes a collaborative plan that you can track and discuss frequently during the year.
I have written The Turn-Key Growth Plan© that you can use for all your team members. This growth document will be published in the Bullard Turn-Key Collection™ that will be released in December 2018 or January 2019. The Collection consists of 16 separate books written for the financial industry with specifics on systems and strategies on how to build a profitable financial planning practice. Please e-mail me if you want to have an invitation to the early release special: firstname.lastname@example.org.
2. TRACK BUSINESS GOALS:
Your Team Leader must know and track the Business Goals.
It is very difficult to take “ownership” of the business when you do not know and/or track the goals. Most Financial Advisor/Reps will tell me “to the penny” how they are tracking to their monthly/quarterly goals. But, most team members do NOT know the goals and/or they are not tracking them. Furthermore, they feel they are successful when they finish their tasks and/or give great customer service. This is a big disconnect because the Financial Advisor/Rep defines success as achieving the business goals. This is one of the biggest reasons why Financial Advisor/Reps feel their team does not take “ownership of the business.” Many really want their team to take “ownership of the goals.” Therefore, if you want your team to “take ownership” of the business then they must take “ownership” of the goals. The entire team either WINS or LOSES based on achieving the goals. This is a fundamental concept to building a team. You must be playing the same game and have the same definition of success.
Your Team Leader needs to lead the team to win. Therefore, they must know the goals and track the goals. They must LEAD the team to focus on achieving the business goals so everyone has the same definition of success.
3. COURAGEOUS CONVERSATIONS:
Be open and encourage your Team Leader to have “Courageous Conversations’ with you.
If you want “Leaders” on your team then you need to give them responsibility, authority and a voice. That means they need to express their opinions and viewpoints even if it opposite of your thinking. Puppets will do what you say and never challenge you. But, puppets will also never be able to lead your company. They will always lean on you for thoughts, ideas and leadership. A take-charge individual who can think, act and lead is the person who will give you “peace of mind” and be able to run your practice. But, you must allow them to speak up, have a voice and express their opinions and ideas. This means they may disagree with you at times. This means they may have different ideas and plans. You need and want to encourage them to speak up to you and, at times, have a “courageous conversation” when they disagree with you. That is how you can grow your leaders.
4. SCHEDULE TIME TO “WORK ON” THE BUSINESS:
Allow your Team Leader to schedule time with you and/or the team to “work on” systems and strategies.
When your Team Leader schedules a day out of the office for you and the team to “work on” the business, do not cancel the day because you want to schedule prospect/client appointments. Honor their Leadership decision…allow them to lead…follow them. If you want to create Leaders within your organization then you have to allow them to lead. That means you must follow. This is far easier “said than done.” But, it is imperative if you want to “just see people.” If you always lead, then your team will always follow and wait for your instructions.
5. MASTERMIND GROUP FOR STAFF:
Invest in your Team Leader to join a Mastermind Coaching Group for staff.
The average top producer in this industry has 4 different coaches at one time. Why? That is how he/she grows, improves and takes their business to the next level. The same thinking should apply to your Team Leader. They should be coached, speak with their peers to share ideas, learn and have a Mastermind Group of other elite professionals where they develop lifelong relationships. A Mastermind Group is a wonderful way to develop the Leaders on your team and retain them. Furthermore, when your Team Leaders know you are willing to “invest” in them, they feel valued and important. A great way to built loyalty and growth at the same time.
Personal growth and development of staff is beneficial to both your staff and business. There is nothing more painful than hiring and training a new staff person who then leaves you because they feel isolated or they do not feeling they are growing. Most of you have joined a Mastermind Group so you can learn, stay connected and grow. So why not provide the same for your staff?
Please click the following link if you are interested in your Team Leader joining my National Staff Study Group. It is a Mastermind group that is designed to create great Team Leaders.