FROM ROCK BOTTOM
Climbing Out of the Pit and Living a Life With BIG IMPACT®
I felt like I was letting my father down … all over again. Our 21st wedding anniversary landed on a gorgeous, sunny Friday, on June 25. Yet, my wife, Beth, and I weren’t headed to an exclusive restaurant to celebrate. Instead, I plastered on a calm face, trying to ignore the terrifying thoughts that were plaguing my mind as we pulled into our financial planning office just outside Pittsburgh, Pennsylvania.
So, despite that $463,459.15 debt looming over our family, I invested in some of the smartest coaches I could find, attended the best trainings, and consumed stacks of books on marketing, communication, ethical persuasion, advertising, sales, and business growth. I’m not going to lie. It wasn’t easy. For the first time, I began to see the myths and misinformation that our industry is teaching to every advisor. I also began to see recurring
“There is a better way, a way to double your income with half the time, so that you can have a BIG IMPACT on your family, friends, and the causes you care about deeply.”
patterns among all these experts, which I assembled into a process that I tested, tweaked, and honed until we had a machine that attracted, engaged, and delighted million-dollar clients. By God’s grace, we were able to pay off the entire $463,459.15 within a few years. Meanwhile, I was taking care of my team, managing my clients’ needs, and maintaining my relationship with Beth and our kids. And we did all of this without even losing a single client. As I shared my story with other advisors, I realized I was not alone. Most shared the same struggles. The same doubt, fear, and sense of hopelessness — all while working harder for incremental growth in income. Most were believing the same myths … and making the same mistakes.
Beth saw right through my facade. After all, we were on the brink of bankruptcy. As we emerged from the car, I grabbed Beth’s hand, and we began the long walk down the hallway to meet with my soon-to-be ex-business partner and a horde of lawyers. I was taking over his half of our financial planning business, and we were going to take on a half million dollars in debt.
$463,459.15, to be exact. That number is still burned into my consciousness.
How did we get here? I remember thinking. Ten years prior, Beth and I launched a financial planning practice from scratch and targeted million-dollar clients. Shortly after, I brought on a business partner to handle internal work while I focused on marketing for new clients and growing the business. We made some poor decisions that put us behind the eight ball. I thought that signing the papers was the most difficult thing I had to do. It was not. Taking the papers into the other office to get Beth’s signature was worse. His attorneys included Beth on the debt, so that everything we owned was at risk. Her hands were shaking as she signed. Tears were streaming down her face. At that moment, I felt like I was letting Beth down. Like I was letting our teenage children, Josh and Anni, down. Like I was letting myself down. Like I was letting my dad down all over again. I made a vow. Not out loud, mind you, but in my heart. I’d take personal responsibility and stop blaming others for my circumstances. I’d do whatever it took to get us out of this mess. That’s when I realized that we weren’t going to solve our problems by following what the financial industry was teaching. That’s what got us into the hole we were in. We needed to look outside the financial industry. A lightbulb went off.
And, most believe that it’s their fault, that it’s only them.
Here’s the truth : If you follow what the industry teaches — every B/D, FMO, and insurance company — you will achieve some success … but you will unknowingly lock yourself into an incremental growth box that you cannot escape by doing the same things you have always done. To gain a breakthrough, you must break with the old.
If you are open-minded, there is hope.
I believe that you have been put on Earth to make a BIG IMPACT®, not just to be in business. Your business is a multiplier, either a positive multiplier or a negative one. There is a better way, a way to double your income with half the time, so that you can have a BIG IMPACT® on your family, friends, and the causes you care about deeply. Imagine a freedom business: A Tesla business that pays you more and runs without you.
I found it and I want to share it with you. Let’s do this together!
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www.ScottKeffer.com
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