My vision for my clients has always been to enable them to have an enjoyable present while also having a solid financial future. Naturally it's a little idealistic to achieve this if my clients have very little resources. The most direct way to attain this is through higher income.
Over my 5 year career in financial advisory, I've had the opportunity to service over 500 people. During this process, I managed to observe certain similarities in the ones who consistently have annual increments and significant salary jumps. In this article, I hope to share 4 of the most common habits with you.
1. Having high-standards for their conduct and expectations
One thing I appreciate about working with such individuals is their impeccable conduct. Being in the advisory line, I've served a spectrum of clients. I've got to say the ones that make your day suck either don't bother to tell you the appointment is cancelled till you ask, don't reply your messages till prompted a couple of times and generally have poor accountability. On the flip side, the ones who are excelling in their remunerations tend to voluntarily tell you if they can't make an appointment in advance, offer to reschedule without you prompting (which shows they value the advisory work provided) and are generally very humble and polite in their interactions. Having said that, they are also firm about their needs and will ask relevant questions if they feel a suggestion is not in line with their objectives.
Perhaps you may ask what does salary increments have any link to how one treats their financial advisor? Generally, I think personal conduct reflects how we manage our lives. I can only draw the conclusion that the ones who are accountable about their overall conduct with people tend to get favourable appraisals from their bosses. Clarity in needs and wants will also provide the motivation for better work performances.
2. Being open-minded and have a willingness to listen
Open-mindedness and a willingness to listen is different from being a yes man. It just means they are willing to listen before rejecting an idea. One advantage of doing this is getting exposed to more opportunities. Not every client is so fortunate to get increment year on year in the same firm. Some of them may find themselves reaching stagnant growth in one firm but they succeeded in finding a new firm that pays them more and give them better prospects. Sometimes, being open to new things may not necessarily have to be work opportunities. It might simply be a talk or seminar that shares an idea with you that can provide inspiration which enhances the value you bring to your workplace.
It's very common that people are resistant/lazy to hear new opportunities until they really need a change. Sometimes the fear of getting swayed from your existing comfort zone or the disdain for 'doing more work' serves as the deterrent. Objectively speaking, being open-minded and listening only gives you more information to make smarter decisions. It doesn't cost a cent to listen except a bit of time. If you don't like what you hear, you don't have to implement it. Who knows, maybe the next Mark Zuckerburg or Jack Ma wanted to rope you in as a business partner and you just missed the opportunity to decide without even listening.
3. Constant learning/self improving
I'm co-hosting an event with a travel hacking specialist to equip my clients with techniques on how to travel better for close to nothing. This is again in line with my desire to enable them to have an enjoyable life now. During my invitation process, I found out that a couple of my clients are busy preparing for exams. A good number of them are furthering their studies in their respective fields. I've also noticed that many of them are naturally curious people. This might account for their strong desire to learn new things. Naturally if you develop new skill sets that are relevant to your occupation, you will be more valuable to the firm. After all, they either saved the money to train someone or they already paid you to self-improve. Either way, employers will be incentivised to encourage you to stay. More often than not this means higher pay or promotion.
4. Having hobbies outside work
Many of the clients I serviced in the past and present that have increasing paychecks have hobbies outside of their work. It ranges from wine appreciation, building guitars to being a cartoonist. In fact, some of them are so good at their hobbies, they can profit from it as well. Personally, I can't draw a direct co-relation between hobbies and higher salaries. However, I'd like to believe that having a healthy distraction outside work would allow people to de-stress in a good way. A happier mind would naturally lead to better productivity and work performances.
Summary
Generally, people who are consistently increasing their incomes are habitually accountable, adventurous in exploring opportunities, picking up new skills and have a life outside work.
Accountable - stay consistent in how you conduct yourself to everyone you meet and everything you do
Explore Opportunities - Remember there's nothing to lose in listening, the decision whether to implement will always be yours
Learning - pick up relevant skill sets that make you more valuable in your profession
Work-life balance - Retain your sanity and develop your other talents by having a hobby outside work
If you know other good habits that can improve income, share them with me by dropping me a message.
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Disclaimer: The content created are based on my personal opinions and may not be representative to everyone or any organisation. If you have any doubts or queries pertaining to insurance or investment, please seek professional advice from a trusted adviser in an official setting. You may also reach out to me if you do not have a present adviser using the message box under 'Let's Talk'.
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