"Leadership begins with trust, so why not trust your own?"
I wrote that line in a letter to myself decades ago. I needed to push myself to get over my fear of starting my own consulting business at age 23, and frankly, to heal from a traumatic event that had happened to me five years earlier.
Before I could make such a drastic and risky move, though, I first needed to learn to trust myself. Today, I'm celebrating my 20th year in the wealth management industry, and my 18th year running my own consulting firm.
Over the years, I've spent much of my time helping advisors build leadership skills and understand the meaning of trust.
At its core, leadership is rooted in trust. It begins with the relationship between you and yourself, you and your clients, or you and your employees.
Now that we are coming out of the COVID-19 pandemic, there's an opportunity for all of us to take the leadership lessons we've learned recently and apply them to the coming decades of change and growth.
Across business sectors, we're seeing record turnover, which extends to our own industry —where a high number of advisors are transitioning from one firm to another.
Our industry and its leaders can pull together to build each other up through trust. I've learned that leadership begins by embracing several elements that are key to trust building. Below, I highlight what my many years of consulting have taught me about them.
Take Care of Yourself
The most central element of creating trust begins with you. That is, you have to take care of yourself before you can take care of others.
It's like when in an airplane emergency you're asked to put your own oxygen mask on first before assisting other passengers. If you don't follow this rule, you may find yourself incapable of helping them. And if that happens, your life and those of others are at risk.
Advisors need to be able to show employees and clients that they take care of themselves. They can do this by taking breaks, expanding their training and keeping up with the latest industry developments
Stay up to date on the new services and trends that matter most to your business and consistently expand your knowledge base. When you improve your own leadership, you gain strength and can deepen the services you offer.