The study was performed by Russ Alan Prince. As his Forbes profile states (read it here), he writes about the creation and management of exceptional wealth.
The study is called the Elite 1200, and its results were published in the 2006 Q1 and Q2 issues of Financial Adviser Magazine (links below).
Here are some interesting observations:
The first sentence in the February essay states that "Every profession can be viewed as a pyramid, and the advisory business is no different." The pyramid analogy calls to mind the image on the cover of Robert Greene's latest work, Mastery.
Perhaps the most important aspect of this study is that it is empirically-based. On the Internet, nonsense abounds. There are countless websites rife with useless, get-rich-quick claptrap. You could probably spend an entire lifetime reading all of the tripe, and still not make it even half of the way through.
The Elite 1200 study is light in the darkness. As the article states:
Humans are a gullible lot. We often form our most important views and beliefs with embarrassingly little thought. Instead of deeply studying history, assessing the consensus of informed scholars, and analyzing the relevant facts, we come to our worldviews, philosophy, notions of morality, political opinions, and religious beliefs by thoughtlessly swallowing what our parents taught us, or perhaps mindlessly accepting what the culture around us perpetuates. It is no wonder, then, that so many of us get sucked into MLM schemes... or worse.
I found the Elite 1200 study shortly after it was published, and it is as helpful now as it was then. The secret, as expressed in the articles below, is a simple one. The difference between top producing millionaire salespeople in the financial industry is how they leverage centers of influence. A center of influence is, essentially, a non-competing professional or even a company that already serves the clients you want to reach. In his book Rainmaker, Prince goes into great detail about how millionaire salespeople cultivate such relationships.
If you're in sales, and you're serious about getting to the top, you can't ignore this.
All of this reminds me of a private message MJ sent me years ago, I think in 2008. I presume he won't mind me sharing.
"All these connections," in the words of MJ, are centers of influence. At the time, I was just busying chasing the connections, without focusing on the need that those connections would fill. All that's changed now. My posts on this site are going to become scarce. I'm not sure if I'll disappear for years, like I did when I first started my brokerage, but things are starting to heat up so fast now that my days (and nights) will soon be entirely consumed with work. Hopefully, the posts I've made here have helped some of you brainstorm about how to perfect your own hustles. Like Vigilante told me in my Bugatti thread, only action matters.
http://www.fa-mag.com/news/article-1374.html
http://www.fa-mag.com/news/article-1331.html
The study is called the Elite 1200, and its results were published in the 2006 Q1 and Q2 issues of Financial Adviser Magazine (links below).
Here are some interesting observations:
The first sentence in the February essay states that "Every profession can be viewed as a pyramid, and the advisory business is no different." The pyramid analogy calls to mind the image on the cover of Robert Greene's latest work, Mastery.
Perhaps the most important aspect of this study is that it is empirically-based. On the Internet, nonsense abounds. There are countless websites rife with useless, get-rich-quick claptrap. You could probably spend an entire lifetime reading all of the tripe, and still not make it even half of the way through.
The Elite 1200 study is light in the darkness. As the article states:
Humans are a gullible lot. We often form our most important views and beliefs with embarrassingly little thought. Instead of deeply studying history, assessing the consensus of informed scholars, and analyzing the relevant facts, we come to our worldviews, philosophy, notions of morality, political opinions, and religious beliefs by thoughtlessly swallowing what our parents taught us, or perhaps mindlessly accepting what the culture around us perpetuates. It is no wonder, then, that so many of us get sucked into MLM schemes... or worse.
I found the Elite 1200 study shortly after it was published, and it is as helpful now as it was then. The secret, as expressed in the articles below, is a simple one. The difference between top producing millionaire salespeople in the financial industry is how they leverage centers of influence. A center of influence is, essentially, a non-competing professional or even a company that already serves the clients you want to reach. In his book Rainmaker, Prince goes into great detail about how millionaire salespeople cultivate such relationships.
If you're in sales, and you're serious about getting to the top, you can't ignore this.
All of this reminds me of a private message MJ sent me years ago, I think in 2008. I presume he won't mind me sharing.
"All these connections," in the words of MJ, are centers of influence. At the time, I was just busying chasing the connections, without focusing on the need that those connections would fill. All that's changed now. My posts on this site are going to become scarce. I'm not sure if I'll disappear for years, like I did when I first started my brokerage, but things are starting to heat up so fast now that my days (and nights) will soon be entirely consumed with work. Hopefully, the posts I've made here have helped some of you brainstorm about how to perfect your own hustles. Like Vigilante told me in my Bugatti thread, only action matters.
http://www.fa-mag.com/news/article-1374.html
http://www.fa-mag.com/news/article-1331.html
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