Monday, June 9, 2014

Improve your performance by a factor of 100! Here is how.

What makes some people more skillful than others?  Are some people just born with all the talent required to be a successful advisor?  Or is there something else going on here?  Can skill be built and developed with anyone who is willing to do the work to achieve a higher level of performance?  Or is it like a veteran Trust Officer said in a recent workshop, "Great sales people are born not made.  That is what I have been told by I every manager I have had".

For the past three months I have I posed these questions to the groups of advisors I have been coaching.  Almost always a debate breaks out.  And the dialogue sounds a lot like  Randolph and Mortimer Duke's argument in the movie Trading Places, which ultimately results in their bet for the "usual amount", to see if it is really "nature" or "nurture" that makes the difference. All in the name of science of coarse.

Author Dan Coyle has just released a new book on this very subject, The Talent Code.  In this work Coyle examines what is really behind great talent.  And as opposed to the Duke brothers approach to the topic, Coyle draws on real science.   Using findings from the latest research of the brain, Coyle shows how skill is really developed.  He unveils the three key ingredients; Ignition, Great Coaching, and Deep Practice.  And it is at the intersection of these three ingredients that something very special happens.

I was first exposed to The Talent Code through a news story on ABC's Nightline.  In eight minutes, journalist John Donvan highlighted the some of the key learning in Coyles work, which sheds new light on how anyone, including Advisors, can dramatically improve their performance and consequently improve their results.  Watch Donvan's story below, see if it doesn't give you a fresh perspective.


I think this is when Randolph admits to Mortimer that he was right.  It is nurture not nature, and hands over to his brother the total sum of "one dollar".  The usual amount.

After watching this story I immediately ordered a copy of Dan's book.  The learning in this book is astounding.  A must read.  John Donvan only had eight minutes in his news story and he covers the content well.  But what you just watched is only the tip of the iceberg.  Nightline should give Donvan a full hour.

What Donvan didn't have time to cover was one more critical component identified in Coyle's work, Ignition.  Ignition has to do with motivation.  And this is a really important ingredient.  You know this if you have children who you have signed up for piano or tennis or some other activity and it just didn't click for them.  They didn't ignite.  And as a result they didn't give the effort for the Deep Practice required to lay down the layers of myelin that would lead to better performance.  Several hundred dollars later (or thousands depending on your own ignition as a parent) you chalk it all up to experience and move on.

So if you are an Advisor, or you 're accountable for the results of Advisors, and you want to see real significant performance improvement, you have to first start by asking the question, do you really want it?  Do you desire to perform and achieve at a higher levels? Are you hungry for it?  If so, find a great coach, commit the time and effort required to practice, and learn from each encounter. Find and fix the errors. "That's the royal road.  That's the path to skill."

So let me know your know your thoughts on the subject.  What does this mean to you?  The Trust Officer I mentioned above said it gave her a new aspiration.  She realized that she too could be a great sales person.  It was in her control.

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