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Ep 326: Finding Marketing Success By Building Spreadsheets To Track That Advisor Data With Erica Pauly
Financial Advisor Success
How to Hire a Good Fit
I would go back and say, keep being curious. This will end. And there really isn't a right way to do this. Because what I'm doing and what track that advisor is doing is so like we're on an island in the industry. It's not going to stay the same anyway. The bottom line is data and storytelling and analytics, it's ever changing. You have to capture more businesses to produce less time at home. There's all these things that are just changing and I didn't even know they existed until now.
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Speaker 3
This will end.
Speaker 2
This will end. And it did. And we're coming out of it. And it's a, it's you
Speaker 3
learn, you
Speaker 2
learn a lot and you grow a lot closer as a team too,
Speaker 3
when you have people who are in it with
Speaker 1
you. So are there things you do differently now in the, I guess like the hiring training process to get better a player fits, picking it up to speed and don't quite quit
Speaker 2
on you? Yeah. I went
Speaker 1
in and created a ton of workflows and process, you know, my little internal brain created just a ton of workflows and processes that because
Speaker 3
our team in the past had worked together so long, it was kind of one of those, we all understand it, but it's not documented anywhere.
Speaker 2
And
Speaker 3
so I did, I spent the last like quarter,
Speaker 2
last quarter of last year, it's all I did
Speaker 3
was just processes and, and honing in our CRM. And in truthfully swallowing
Speaker 1
some of the pills that I tell people to do, you know, and it's always that
Speaker 2
always a brides me never bride or I don't know the saying, I can't blanking on the saying,
Speaker 1
but I always go with the cobbler's children having their shoes. There you go. That they're much better. Yes.
Speaker 2
So
Speaker 3
that was my job. And
Speaker 1
that has helped
Speaker 2
a ton and also from the hiring process to not hire out of stress or fear and being okay with getting rid of somebody, if they're not a good fit, like you know, you know, pretty quick in.
Speaker 3
If it feels rocky and they're not
Speaker 2
good to just say no and rip the bandaid off. And I know everyone wouldn't agree with
Speaker 1
me there, but from my experience,
Speaker 2
we can, we can tell in the first three months,
Speaker 1
if it's just not going to work and,
Speaker 3
you know,
Speaker 1
just know, I find it similar. Like, you know, people can have varying degrees of bumpy third, first 30 days because I think they're just trying to get oriented and figure out how it flows. And some people pick things up a little faster than others. But like by two months in, they should be starting to get the gist. And so by three months in, either they're really getting it or like clearly on the rise of getting it or they're not. And like, if they're really not getting it three months in, it really usually doesn't meaningfully correct itself later. Like just that it ends out being bumpy for a long time. Mm hmm.
Speaker 2
And that's, I don't
Speaker 1
like having the hard conversations. So Molly has the hard conversations. So she's helped, you know, she's, she's been one that's like, how are they doing? Are we, are we in or not? And
Speaker 4
she has
Speaker 1
a powerful thing when just you, you know, when you have someone else that can, on the team who can do the hard conversation, if it needs to happen, so you can, you can separate yourself of, I don't have to be the one that has to have the hard conversation. I just need to be the one who makes the right call for the business about whether this is the right person is really freeing. If you're in the business center position, you're not good at having those conversations. Just means you have to find someone who's good at those conversations. Right. And I'm fascinated that there are people that
Speaker 3
are, you know, I mean, that's all unique. And I'm
Speaker 2
so thankful that there are people
Speaker 3
that can,
Speaker 2
because I get really awkward and square me and it doesn't come out right. So it, I'm so thankful for that too. Yeah.
Speaker 1
So anything else like you know now that you wish you could go, go back and tell you from five, 10 years ago as you were just like starting into this advisor world and nerdy data journey. Hmm.
Speaker 3
I would go back and say, keep being curious.
Speaker 1
And there really isn't a right way to
Speaker 3
do this. Because
Speaker 2
what I'm doing
Speaker 3
and what track that advisor is doing
Speaker 2
is so like we're on an island, man, like no one is doing this in the industry.
Speaker 1
And I was so concerned about getting it
Speaker 2
right and getting it perfect. And I think I would have come to a lot of the
Speaker 3
realizations I did. And
Speaker 2
really the bottom line is
Speaker 3
data and
Speaker 2
data storytelling and analytics, it's ever changing anyway.
Speaker 3
I mean, it's not going to stay the
Speaker 2
same. And I
Speaker 3
wish I would have known that,
Speaker 1
you know, because I was so focused for a long time on just
Speaker 2
getting it
Speaker 3
perfect as it's
Speaker 2
not. And these advisor practices keep changing and they keep getting bigger and they keep moving over to the managed money side and the teams grow. And then
Speaker 1
the goals aren't to produce more businesses to produce less and have more time home. And you know, there's all these things that just are ever changing and
Speaker 2
I didn't quite capture that and it wasn't quite okay with that.
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