Undeniable Attributes of the Greatest Wholesalers – Part One

You may have seen the post that WholesalerBriefcase.com wrote about the Wholesaler Lifetime Achievement Award presented at the recent Sequoia Connect ’10 conference.

As I sat in the audience and listened to each award winner* speak from the dais I couldn’t help but make a list of the attributes that they outlined as being most critical to their success.

We have decided to make this a multi-part post so that our readers can digest these attributes and have time to reflect on them in the light of their own practices.

So, in no particular order, here is Part One.

The words/phrases in bold are the award winner’s descriptions of what attributes make wholesalers great.

The explanations that follow each are our take on each attribute.

Competitive – Each wholesaler has a different button that they need pushed. What’s yours?

Do you seek to make more money than any of your peers?

Or are you driven by the acclaim that the highest achievers receive?

Wholesalers should not only know what gets them revved up (the easy part), they should also find a way to let their boss in on the secret.

One time I had a wholesaler who I thought was motivated by money as her number one driver.

Wrong!

It turned out that recognition was her number one most important measuring/motivating devise.

Whatever your ‘button’, the very best are tenaciously competitive in their pursuit.

Able to build teams – Sure, wholesaling is a lone wolf engagement, designed for the guy/gal that really wants to do their thing and not have to be concerned with that whole ‘team’ thing…right?

To put this gently – HELL NO.

In this era of wholesaling you need to ditch that idea and get with the team program.

This means that you have the ability to orchestrate and/or add input into the activities of all those that touch your region.

That includes your internal (of course), any sales assistant(s), relationship management, other wholesalers from complimentary products in your firm (retirement plans, life, etc.) to name a few.

Loves to meet people – You might be thinking, “Really, there are wholesalers who don’t like to meet people?”.

Maybe – but the key here is the word LOVE.

There are plenty of folks who claim to be “a people person”, but under the hood they are simply putting up with the social demands of the job.

Those that are great wholesalers love the social aspect of the job – and it shows.

Strongest possible work ethic – If we have said it once we have said it 1000 times: Wholesaling is not just a job it is a lifestyle.

And a lifestyle that demands, if you plan to reach the top, a work ethic that boarders on sickness.

No it does not mean forsaking family and friends to reach the top, as there are important ways to work smarter.

Yes, it does require a degree of commitment that only a rare percentage are willing to relent to.

And in this millennium you better be working hard because there are 3 or more folks waiting to take your job from you.

Constantly seeking feedback from advisors on ways to improve – We’ll take this one step further and say that great wholesalers are not only seeking feedback from advisors on ways to improve, they are also seeking this input from their peers and from their boss.

The very best also seek the counsel of outside coaches – yup, shameless plug!

Regardless of who they hear it from, great wholesalers listen, process and improve.

They LISTEN with an open mind.

They PROCESS what they have heard before they act/react.

They use their new learnings, take them to heart, and they IMPROVE.

Check back soon for the next installment of the four part series.

If your ready to take your wholesaling game to the next level read what your peers have to say about Wholesaler Masterminds – we are honored to have earned these comments.

* Pictured from left to right: Yvette Dubajic, Dynamic Funds; Sean Farley, John Hancock Funds; Kris Jaenicke, Dividend Capital; Ed Sierawski, Sequoia