Then came 2008 - 2009.

People want information; they need to know where we go from here. As a result, I relaunched public seminars as part of my speaking business late last year.  Financial advisors hire me to present on their behalf to their clients and prospects, and the results are nothing short of tremendous.  In addition, I meet with the local media in the cities where I present, and provide on-site sales training for the financial advisors that hire me and their sales teams.

Read the following article from such an event:

“New economy presents challenges and opportunities”

As seen in the Springfield (MN) Advance Press Pages 1-2

March 18, 2009

Credit problems, failing financial institutions, government bailouts, stock market downturns, economic uncertainties, downsizing, belt tightening, job losses, personal pain and tragedies are some of the many negatives that we hear and read about daily.

There always will be times when it seems there is nothing but discouraging news, said business strategist Michael Roby, who came to Springfield last week to bring perspective and common sense advice to those who question: Where we go from here?

Roby came at the invitation  of David Milbrath and staff of The Investment Center. “We have had a fair amount of people calling our offices to ask, ‘What’s going on?’ There is so much fear and confusion. They want reassurance,” said Milbrath.

With more than 30 years of experience in the financial services industry, Roby has the perspective of being able to look back and look at the present, and to provide timeless concepts and strategies for helping people save, invest, and manage their financial resources.  The topic of the public forum was: Financial Planning in the New Economy: Where Do We Go From Here?

“These are unprecedented times, but too a certain extent the new economy is no different than it ever has been,” said Roby, who spoke at a public forum at the Springfield Area Community Center the evening of March 12.

“Unfortunately, people take the events of the last six months and extrapolate them infinitely into the future,” Roby said.   “We get a sense that this time it’s really different; but it’s never different — it’s always a matter of supply and demand.”

“Everything cycles. Nothing goes up forever. Nothing goes down forever,” Roby said. “The inevitable progress of a capitalistic economy is that long-term values always go up, but they don’t go up every day.”
“There’s no question we’re in a recession,” Roby said. “Some call it a depression.” “I don’t mean to minimize what we see happening out there these days. But this is very different from the Great Economic Depression in many ways,” Roby stated, as he began listing the differences. During the Great Economic Depression our country had 25% unemployment; today we have 8.1% unemployment.  During the depression there was no Federal Deposit Insurance Corporation (FDIC) — there was no federal banking structure; today there are safeguards. During the depression there were very few welfare or entitlement programs; there are safety nets today.  During the depression, the United States government shut down, basically, all foreign trade during the 1930s, which did create a worldwide depression. That is not happening today.

“The biggest challenge we had during the depression was that people lost hope,” Roby said. “People are losing hope today. They are taking events of the last six months and saying that this will happen forever.”
Roby advised his audience to consider the positives:  “Take a look at what has made America great,” he said.  “We have the greatest country in the history of mankind.”  “We have some very big challenges going forth, but the fact is our population is growing. We have about 6.8 million legal immigrants every year (almost 38 million now) and that will be a strong economic force. These new Americans, have dreams, goals and objectives for their families just as our forefathers did — they work hard, and they contribute to our society.”

“Believe in the power of America; do not surrender ourselves. The United States of America have an infrastructure that is second to none. What would other countries give to have our infrastructure, our roads, our power grids. Americans band together when times are tough,” said Roby. “Americans come together to help one another; we don’t erupt into a civil war including violence. We take care of one another.”
He also pointed to the strength of Baby Boomers who will continue in the workforce because they can’t afford to retire under the present economic conditions. “The retirement of that whole group of Baby Boomers would create some huge inflationary pressure because there would be huge competition for talented workers,” Roby stated.  “These people are going to stay engaged longer and they won’t be drawing on their Social Security and pension plans as rapidly. They’ll be staying in the market place and continue to bring value.  They are productive. They provide a huge amount of intellectual capital.”

“American agriculture is the model for any production industry in the world,” Roby said.  “And agriculture is pretty sound right now.”
Small businesses have always been and continue to be the backbone of America. “Big business has never been what fired new job growth,” Roby said.  “It’s always been small business.”
“The United States of America still have the most efficient economic structure in the world,” Roby said.  “The things that we do — technology, intellectual capital, design and development — nobody does that better than we do.” People will continue to need to buy houses and to rent apartments, and they will continue to buy food and clothing, the speaker pointed out.

“There’s $8 trillion on the sideline that will need to be invested, and soon money managers are going to look at the fact that it’s time to get back in the market, and that will drive prices,” the speaker said.  “One of my fears is that people think the government is going to take care of all their problems,” Roby said. “The government can’t fix our problems. We have to fix our problems.” “It’s about us getting out of there and creating business.  And we’ve got to get back to work.”  The government that claims to fix our problems was the source of some of the problems to start with, the business strategist pointed out. 
For example: The deregulation of lending in the banking sector; “It never made sense to do 125 percent loan to value,” he stated. We have to get back to the basics,” said Roby. “If it’s lending/borrowing, it’s things like loan-to-value. What is your mortgage payment as a percentage of your adjusted gross income?  If it’s investments, is it reasonable price earnings? Is the company making money?  If it’s a family, are you saving 10% of what you make?

People must take personal responsibility for their future financial security. “We have to get back to basics rooted in the values and principles that made our nation a great nation,” Roby stressed. “Live within your means. Pay yourself first. Spend the rest. Don’t go it alone.”
He also stressed the importance of the basics of prudent financial planning. Guiding principles to good financial management, he said, are: 1)  Diversification, 2) Asset allocation, 3) Dollar cost averaging, 4) Manage and insure that which cannot be predicted, and 5) Use professional management.

“Challenges present opportunities,” said the speaker.  “There will be huge opportunities for those who accept the challenges.

“Motivational speaker knows a trick or two…and uses them”

One of those clients was Mathiowetz Construction.  Mathiowetz has “proudly served Southern Minnesota since 1924 with quality, dependable earth-moving construction.” We were scheduled to present during their annual “Safety Week” meeting, at which  they gear up for the coming construction season.  One of the companies disciplines is that all employees go through a series of warm-up and stretching exercises before beginning work for the day. ALL of their employees do the same, even the office staff. In fact, they stretched to open up the day’s meeting! This commitment to discipline carries through to all facets of the company.

Examine the disciplines and traditions you have in your firm.  Do you always practice and maintain your commitment to quality and meeting your clients needs first? Do you prepare yourself and improve your skill sets?

Mathiowetz is a great employer with great employees that do great work; hard work of which they are proud.  Be proud of what you do.

Good selling!

The Minnesota Chapter of National Speakers Association elected to its board as president Michael Roby; as president-elect Amy Tolbert; as past president Audrey Thomas; as finance director Dan Janal; as program director Kevin Stirtz; as business relations director Dennis Stauffer; as membership director Lori La Bey; as director of the Institute for Professional Speaker Development Stuart Gray; as director at large Sharol Tyra; and as platinum representative Sue Rusch.

Roby    Tolbert   Thomas   Janal   Stirtz

Stauffer   La Bey   Gray   Tyra    Rusch

For the advisor:

After meeting with or hearing a wholesaler, ask yourself this question: “Is this a company, a person, and a product that may provide benefit to my clients and help me grow my business?”  If the answer is yes, for the next wholesaler appointment schedule two or three joint calls with prospects who fit an ideal prospective client profile.  The wholesaler will show you how to sell the product and you get to be a buyer’s advocate for your clients.

For the wholesaler:

After an initial call, or with advisors you have seen on several occasions without sales success, help the advisor decide if you are a fit for his/her business.  If so, do not make additional calls without joint sales calls on the advisor’s clients and prospects.  Schedule these appointments for thirty to forty minutes. Remember, telling isn’t selling. Show your advisors how to properly position your product.

Good selling!

This all goes back to the “packaging” of yourself, which contributes to your personal brand. How you dress, personal jewelry, the type of bag you carry, your collateral marketing materials, your seminars and client communications; all should be appropriate for the market you call upon.  Your office decor and positioning of your client meeting space are important.  Atlanta-based money manager Jim Hansberger once said, “Your office should be a monument to your success.”  Granted, you don’t want to be ostentatious, but you do want to look successful.

Let’s talk about seminars.  Many advisors do dinner seminars - cheap dinner seminars. Craig Zaligson, owner of Midwest Diamond and Watch Company in Minneapolis does dinner seminars. He specializes in high grade, low production, new and pre-owned luxury timepieces. Craig hosts dinner seminars at the Oceanaire, Minneapolis’ premier seafood restaurant, for his best clients and their guests. In other words, he offers a high quality experience and attracts high-end buyers.  Advisors would do well to co-host such an event if they want to present to a more affluent clientele.

So check out your pen, and all of the “tools” you use to grow your business,  Let people know you believe in quality and that you are successful.

Good selling!