In today's episode, we have Julius J. Anderson who began his career in the financial services industry 38 years ago as a recruiter for an agency of Home Life of New York. His two years of field experience at Home Life led to a Field Training Coordinator position at the home office in New York City. Through his travels across the country, he shared and learned agency operational techniques that prepared him for a lifetime of management in the financial services industry.
What are the correlation between business building and family life? (05:15)
- Importance in building relationships because relationships can distinguish what you do. Relating to people, whether they're your employees or whether they're your customer, whether they're your vendors. So. It relationships and networking and reaching out to other people.
- Making contacts is really a key point in business. D you have a system or how do you keep track? Do you have a philosophy or you call them or email them
- If you want to stay active and involved in a business in a career, in a profession, even in an industry after you kind of retire and step away from it, you have to continue to involve yourself in what goes on in that business, that industry as long as you come to the table, willing to listen to what's going on in their lives and what their needs are, they're open to have you involved in, in their lives, in that fashion.
- Succession planning for business owners is a difficult area because most of the time, small businesses are contingent upon the founder and passing it to the second generation is challenging. They desperately wanted to pass the business, you aren't born an entrepreneur and you aren't born to financial planner. You're not born into it. You have to actually embrace it.
- It's a matter of be able to communicate between generations in order for them to create a successful. A pattern that will actually lead them into the same kinds of results for the offspring of the father or mother had when they started the business.
What can parents do to enable kids to reach their full potential? (09:36)
- What we're doing is we're bringing people together with a mission and a purpose. And we're guiding that mission and that purpose through the lives of those individuals.
- If you're going to be a successful business owner, you got to embrace the value of those people. And you've got to make them feel exceedingly good. Richard Branson has a thing that says treat your people and train your people makes them realize the value of what you're offering them in the relationship. It's more than just a job they buy into your career and they make you more successful.
- Know that the people I were going to work with who was going to represent my company, what products would I deliver to the public? And could I have confidence? As long as you are delivering something to them that was in their best interests, not necessarily in my best interest. And the thing I found was the more I could deliver to the customer.
- They can buy into what you're doing and, and, and cloak it in integrity. That's the most important thing. That goes a long way. Take lot of advice from her and got professionals around you to cover your weaknesses. And you went with your strengths with your business partner.If you make something better, Steve jobs, he broke down. How much of the Apple phones Steve jobs was paid and for a $400 phone, when it came out, he was making four or five bucks in his valuation, but what was he giving to the world?
How he see the business progressing and advice for business owners? (17:23)
- It's not a zero sum thing. Create creating a product like you did with your insurance business. And rebuilding packages that other agents could sell and becoming a wholesaler. And that whole thing you provided a service and people bought it and everyone benefited, raised all the boats.
- You have to be out there in the marketplace all the time in order for things to happen. For the water to boil. And it was really good advice because you know, one of the hardest parts about being self-employed is a lot of times you, you don't have anybody to go to you pretty well got to figure it out.
- You really have to involve yourself in wide circles because the wider, the circles that you involve yourself in, oftentimes. The more knowledge you'll secure and you'll get that, just that one little crystal of an idea that you can turn around and apply in your business in your practice.