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By David RichmanManaging Director, Advisor Institute

New Year's resolutions: so often made yet so rarely kept. This is why I have never believed in such resolutions and prefer to embrace the principles of Gary Keller's book, "The ONE Thing: The Surprisingly Simple Truth About Extraordinary Results."

Instead of creating a long wish list, what if we were to narrow our focus? To help you identify your "one thing," Keller introduces the idea of using a focusing question: 

"What's the one thing I can do such that by doing it everything else will be easier and unnecessary?

This question led me to reflect upon some of the highlights from our 2022 consult clinics with advisory teams as well as the scores of workshops facilitated with advisors relatively new to the business. Here are three observations:

  1. Many teams across the industry are woefully understaffed.
  2. Our industry is chock-full of extremely talented next-gen advisors.
  3. Few veterans believe they have the bandwidth for mentoring.

Putting myself in the shoes of a team leader and reflecting upon Keller's focusing question might lead to developing this "one" thing: Prioritize finding the time and opportunities for mentoring each week.

If you don't have such team members, consider recruiting one or more next-gen talents to the team.

Bottom line: Focusing on "one thing" might make all the difference in paving the way to a breakout year.