1. Elite Advisor Path
1.1. The EA method will always point you to the outcomes you want.
1.2. Always show the difficult decision being something that isn't a straight path.
1.3. Truths about stages
1.3.1. Every stage has threats
1.3.2. Progression requires different actions
1.3.3. You can't skip stages
1.3.4. Stages don't have a pre-determined length
1.3.5. Getting stuck in a stage 2 through 4 is common
1.3.6. What got you there won't get you to where you want to. You need different inputs, just like a baby starts with milk, but we mature from that to solid food.
1.3.7. It will often take a new environment to grow into the next stage
2. Stage 1: NEWB
2.1. Characteristics
2.1.1. Ignorance
2.1.2. Talks too much
2.1.3. Doesn't ask enough questions
2.1.4. Optimisim
2.1.5. Fast starter or may require secondary income
2.1.6. Requires you to be lean
2.1.7. Inconsistency
2.2. Goals: The next deal/meal
2.3. Threats
2.3.1. Ignorance
2.3.1.1. Selling
2.3.1.2. Products
2.3.1.3. Personal strengths
2.3.2. Not sustainable
2.3.3. Requires more time and energy internally
2.3.4. Temptation to go get salary position
2.3.5. Failure
2.3.6. Decision fatigue
2.3.7. Emotional roller coaster
2.3.7.1. Big win = get lazy
2.3.7.2. Starving = keep going
2.3.8. Training inadequate
2.3.9. Network
2.3.9.1. Missteps with current network
2.3.9.2. Lack of network
2.3.10. Always playing the game, vs refining/practice
2.3.11. Joint work with the wrong person
2.3.12. Comparing yourself against the wrong people
2.3.13. Scarcity - Need to sell to every lead vs. educate, then trust process.
2.4. Community/Growth/Development
2.4.1. Being around better people
2.4.2. Joint work w/ right advisor
2.4.3. Invest in next level
2.4.3.1. Learning opportunities
2.4.4. Know your why
3. Stage 2: Stable/surviving
3.1. Characteristics
3.1.1. Adding clients regularly
3.1.2. Realize what you don't know & start to learn more
3.1.3. Better define who you can help, vs. who you should get others to help.
3.2. Goal: Consistency
3.3. Threats
3.3.1. Adding wrong clients
3.3.2. Creating bad habits
3.3.3. Stay here too long
3.3.4. Small thinking "I've made it!"
3.3.5. Stop learning
3.3.6. Unwilling to invest in growth vs. keeping money "for yourself"
3.3.7. Scarcity - Product and AUM focus only, still transactional.
3.4. Community/Growth/Development
3.4.1. Invest heavily in learning
3.4.2. Pushing through discomfort of control/hiring
4. Stage 3: Maturing
4.1. Characteristics
4.1.1. Identity: Advisor
4.1.2. Delegating
4.1.3. Free time
4.1.4. Add staff
4.2. Goal: Balance, freedom
4.3. Threats
4.3.1. Adding too many clients w/out good systems
4.3.2. Trying to control too many things creating a bottleneck
4.3.3. Bad hiring
4.3.4. Fingerprints have to be on everything
4.3.5. Unwilling to grow
4.4. Community/Growth/Development
4.4.1. Great at Hiring
4.4.2. Great at motivating/managing staff
4.4.3. Great COI development
5. Stage 4: Comfort
5.1. Characteristics
5.1.1. Identity: Business owner
5.1.2. Fund yourself & your team
5.1.3. Runs without you there all the time
5.1.4. Brand is established
5.1.5. Tesla Autopilot
5.1.5.1. Feels magical
5.1.5.2. Unique compared to most
5.1.5.3. Still requires your attention
5.2. Goal: Freedom, stability, consistency
5.3. Threats
5.3.1. Complacency b/c you think you've arrived. This is comfortable. Most common place to get stuck.
5.3.2. Don't invest back into their business enough to get to the next stage.
5.3.3. Mistake comfort as the goal, vs. your true potential.
5.4. Community/Growth/Development
5.4.1. Great at motivating/managing staff
6. Stage 5: Thriving
6.1. Characteristics:
6.1.1. Identity: Grows others
6.1.2. Generous
6.1.3. Innovating
6.1.4. New goal is the ability to help others and become a multiplier. Grow team. The goal is the world is a better place vs. your world is better.
6.1.5. Focused on identifying and hiring great staff
6.2. Goal: Give back to others, external focus
6.3. Threats
6.3.1. Pride
6.3.2. Stop learning
6.3.3. Inefficient
6.3.4. Not learning to reach a new level
6.3.5. Dying book of business
6.4. Growth
6.4.1. Humility
6.4.2. New business