I Ain’t Got No Time for That

Research and surveys show some interesting statistics when it comes to how salespeople spend their time during the workday:

33% Talking to clients

21% Writing emails

17% Entering data

17% Prospecting and marketing

12% Conducting internal meetings

This is for salespeople in all industries and not just for financial salespeople, but you get the drift.  Where should all your time be spent?  95% of your time should be spent in just two of the categories above… Talking to clients… and finding new ones, that is, marketing.

But Mike!  I have to do all those other things to make my business run.  YOU don’t have to do them.  Train somebody to do them for you.  When I was in personal production making $1.5 million a year… I spent exactly 2 hours a week creating proposals… the rest of the time I was meeting clients or finding new clients to bring on.  I didn’t help clients fill out paperwork.  I didn’t maintain compliance records.  I didn’t write emails.  Though, I did have a 10-minute daily internal meeting with my assistant… that meeting was specifically designed to offload all the other daily tasks to staff.

I had 2 wonderful staff that handled EVERYTHING else.  I paid them well, but it was only because of them that I could make the money I did.  How are you spending your day? 

One of the most fruitful tasks I give to my coaching clients is to have them keep an hourly record of what they do each hour of the day… for an entire week.  100% of advisors that I have done this with are flabbergasted at how little “work” they actually do each week.  The best of them, was only spending 50% of their time constructively… most were much lower than that.

Are you brave enough to try this exercise for a week?  If you are, count on your income going up.

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