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One of the best ways financial professionals can re-focus their mindset away from pessimism and move toward optimism is by recognizing that missed opportunities, disappointing results (in their prospecting, for example), and losing clients are temporary setbacks, not indicative of failure or advisor weakness.
Too often, advisors beat themselves up after such setbacks. The research on developing an optimistic mindset shows dramatically that finding a rationalization to explain such setbacks and developing a learning point as a result, leads to future success. Those who pessimistically blame themselves fall into a hopelessness habit, which leads to continued failure.
My consulting and mentoring work with financial professionals grew out of my 33-year career as a Professional Sports Psychologist, working with elite athletes. Today, I received this wonderful testimonial from Brian Boland, the coach of the 2015 National Champion University of Virginia Men’s Tennis Team. I am sharing Coach Boland’s words here because after initially resisting my advice about how to react to player setbacks on the court, he ultimately began using my suggestions, and here are the results:
UVA 2015 National Tennis Champions
“Dr. Jack gave me specific gems of wisdom over the years that I was able to use with my team to unlock their true potential, leading to winning two NCAA team Championships as well as numerous conference and individual championships. He made me think outside the box as a leader and allowed our team to understand what it was going to take for our program to have the freedom necessary to play to our full potential.
Dr. Jack’s teachings always come into my mind in the most pressured circumstances and we are forever grateful to him for his leadership. Aside from being a true professional, he is one of the most selfless people I have ever met in the sports world.”