Growing Your Practice The David Goggins Way

In an earlier post we imagined how NY Times Best Selling Author Cal Newport would guide financial advisors looking to grow their practice. Newport’s books have shared space on the best sellers list with “Can’t Hurt Me,” by David Goggins.  What relevance does that book hold for advisors?  Let’s consider that question.

David Goggins, renowned for his unbreakable mindset and extraordinary achievements, offers invaluable advice for financial advisors looking to improve themselves and grow their practice. Drawing from his books and podcasts, Goggins emphasizes resilience, discipline, and pushing beyond perceived limits. Here are three crucial pieces of advice he would likely offer:

Embrace the “Can’t Hurt Me” Mentality

Key Message: Overcome mental barriers and push beyond your perceived limits.

In his book “Can’t Hurt Me,” Goggins discusses mastering the mind and defying the odds. He encourages the adoption of a mindset where nothing can break them, focusing on:

– Persistence: Keep moving forward despite setbacks. Every rejection is a step closer to success.

– Adaptability: Be prepared to pivot and adapt strategies when things don’t go as planned.

Resilience: Cultivate a thick skin. Learn to bounce back from failures stronger and more determined.


Apply the 40% Rule

Key Message: When you think you’re done, you’re only at 40% of your true potential.

Goggins’ 40% rule states that when you feel like you’ve reached your limit, you’re only at 40% of your actual capacity. Financial advisors can apply this principle by:

– Setting Higher Goals: Aim higher than you think is possible. Don’t settle for mediocrity.

– Pushing Through Comfort Zones: Growth occurs outside of comfort zones. Challenge yourself with daunting tasks and clients.

– Relentless Effort: Even when you think you’ve done enough for the day, push a little harder. Make one more call, attend one more networking event, or research one more market trend.


Build a Foundation of Discipline

Key Message: Success is built on consistent, disciplined action.

In “Can’t Hurt Me,” Goggins emphasizes the importance of daily discipline. He would likely advise financial advisors to:

– Establish a Routine: Create and stick to a daily routine that prioritizes high-impact activities like client outreach, continuous learning, and strategic planning.

– Commit to Continuous Learning: Stay ahead of industry trends and continuously educate yourself. The more knowledgeable you are, the more value you can provide to your clients.

– Hold Yourself Accountable: Track your progress and make necessary adjustments to stay on the path to growth.


Real-Life Application

Goggins often shares his experience of training to break the world pull-up record, facing numerous setbacks and failures. Each failure was a lesson that made him stronger and more prepared. He would likely draw a parallel to financial advisors, emphasizing that those who persist, push beyond their limits, and maintain discipline will see their practice grow and thrive.

David Goggins messaging encourages the development of an unbreakable mindset, pushing beyond one’s perceived limits, and building a foundation of disciplined, consistent action. Success is not about inherent talent but about the relentless pursuit of greatness and the willingness to outwork everyone else. Stay hard, stay focused, and dominate your field would be great advice for anyone looking for success, especially financial advisors.

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