Financial Services academyrecruiting on 16 Jan 2009 03:35 pm
In Turbulent Times, Having a Plan is the Best Chance for a Successful Landing
We aviators have a way of dealing with emergencies in the air. We prioritize by remembering the following mental checklist and course of action: Aviate, Navigate, and Communicate. In that order.
I wasn’t there, but I can imagine the thought process of Captain “Sully” Sullenberger on US Air Flight 1549 went something like this:
1. bird strike, one engine out… Crud! Fly the airplane.. engine number two out.. more Crud! Fly the airplane.. keep wings level… AVIATE… check!
2. turn the airplane around for landing back at LaGuardia.. not going to make it that far.. Teterboro airport.. not going to make it there either.. next option, land on the Hudson. NAVIGATE.. check!
3. call the controllers and let them know what I’m doing. Alert the crew and passengers.. COMMUNICATE.. check! Now fly the airplane and land.
Which, as we know, he successfully accomplished.
Being a Financial Advisor in today’s turbulent times also requires a similar check list. The last course of action you want to take right now is one of panic and confusion. You’ll lose your passengers (clients) faster than Captain Scully can say, “check!” Instead, follow what he did.
1. FLY the airplane. Remain calm in your approach to financial management of your clients and don’t make any abrupt moves that would cause your aircraft to lose control.
2. NAVIGATE your career and the safety of your client’s portfolios. Now is a good time to re-evaluate your landing spot. Will you remain where you are right now or should you consider other “landing” options? Where do you want to take your passengers for a safe landing? If your current company is not a safe place for them, start considering other options.
3. COMMUNICATE your intentions to your clients. Whether you decide to stay where you are presently, or if you are considering other options, tell your clients now so that they are comfortable knowing that you are in control. I remember reading that one of the passengers from flight 1549 said that when he heard the Captain announce that they were going down and to prepare for a hard landing, he knew he was going to be alright because his captain sounded very confident and reassuring.
Be that Captain to your clients. They need you now more than ever…
