As the 2018 Winter Olympics continue to generate headlines around the world, I've taken notice of what these athletes must inherently possess just to qualify for the Olympics, let alone win a medal. They're the gold standard for their respective sport, and their mindset could surely teach advisers a few things. Beneath the surface and behind the podium, there lies an invisible quality I feel most of us should recognize.
Olympic athletes possess a rare combination of facing down their biggest fears and challenges with devoted persistence and, at times, unconscious competence. My dad had a word for this type of relentless optimism. He used to tell me growing up, "Ronny, you have persidity. You approach every obstacle head-on with sheer persistence and blind stupidity. You don't know what you don't know."
While hearing this story may spark a smirk, I couldn't help but recognize the necessity of this quality in any human who wants to achieve greatness. Possessing "persidity" means you aren't afraid to fail, and even when you do fail, you pull yourself up and continue on because you see each failure as a step forward instead of two steps back, an opportunity to learn instead of a reason to quit.
Preparing for this Olympics, Shaun White was determined to master one of the hardest snowboarding tricks imaginable, a pair of "double cork 1440s." Just weeks earlier, when attempting the trick, Mr. White crashed and ended up with 62 stitches on his face.
Last week, I watched as he landed this trick in the half-pipe competition, securing him a third gold medal. You could see it on his face and in his tears what that historic comeback demanded of him. Courage. Persistence. Belief. His four-year journey was complete, after he finished fourth in 2014.
(More: Olympics advice from champion advisers)
The good, the bad and the paralyzing
In our profession, we don't discuss, or even have the courage to admit, failure. We strangle our imaginations and guard our egos to avoid confrontation with this timeless foe. There's a reason persidity is a gold medal quality. It's not for everyone. It requires intent in the midst of struggle and being comfortable with taking risk in the pursuit of reaching beyond to stand for something — build something — bigger than ourselves. This is the good failure: the feeling we get when we're productively paranoid. The 62 stitches that motivate us rather than demoralize us. When our failure or discomfort is overcome by the idea of touching more lives and increasing the footprint we leave in this world.
Then there's the bad. The fear that demoralizes you, destroys your ambition and depletes your deeper purpose. It comes in many forms: toxic team members, unethical practices, poor leadership and unhealthy relationships or partnerships. Looking back at my 35-year career, I've had "the bad." One of my biggest was swooping in as a major micromanager. At one point in the business, I went as far as approving the length of the lanyards we used at events!
I was certainly persistent, but also extremely paranoid, suffocating the potential of my team and the firm. I thought that by making all the right decisions on my own, I would be able to reduce risk and deliver value at an uncompromising level. In reality, my fear was stifling the creativity of everyone around me and crushing any opportunities they might have had to grow in the organization. It also makes you miserable. I was overwhelmed and unfulfilled, but once I learned to let go, I was able to surround myself with the best people I could find and allow that "persidity" to grow within the team: a quality that empowered others to find their discretionary effort.
Learn to let go, and you'll grow.
Sometimes leaders waste so much time trying to find the right path to take, they paralyze themselves and their firm. This is the most systemic fear I see among advisers today in the midst of an evolving profession. With thousands of vendor options, endless bombardment by outside influencers and our own bad fear preventing us from pushing forward, I've witnessed too many drown in the complexity of their own decision-making.
Avoid the urge to overanalyze and ignore the impulse to complacency. This profession — and your clients — deserve more from you. Yes, it may take time, effort and plenty of persidity. But, like Shaun White, you simply can't let those momentary setbacks define your future.
The path to a gold medal isn't easy. Be willing to fall flat on your face. Experiment with the things most of your competitors are afraid to touch. Feed your good fear, erase the bad and never forget just how close you are to the podium.
(More: The financial adviser evolution is underway)
Ron Carson is CEO and founder of the Carson Group, which serves advisers and investors through its businesses: Carson Group Coaching, Carson Group Partners and Carson Wealth. Follow him @RCHusker
