In my experience as a coach and consultant, the last part of the year can end up being a grind for many advisor teams. Hopefully the members of your team were able to take some time off during the summer to recharge their batteries and are now ready to finish strong and celebrate having reached all those fantastic goals you set back in January.

Speaking of goals, lately I’ve been thinking about what some of the defining competencies are for teams that execute as opposed to those that struggle. Most teams have laid out a roadmap for success to help them prioritize their time and track their progress toward goals. However, even with the best-laid plans, not all teams accomplish what they set out to achieve.

So, what are the traits that allow some teams to push through the day-to-day tasks, overcome setbacks, and achieve success?

In my view, one trait that doesn’t get enough credit is grit. Many teams view their strategic plan through rose-colored glasses, imagining everything will magically fall into place. By failing to consider the obstacles and roadblocks that will inevitably arise, these teams make the false assumption that they’ll be able to remain focused on their goals full time, without ever being derailed.

This is where grit comes into play. There are three competencies associated with grit: Resilience, perseverance, and adaptability. These are the traits that allow teams to push through those roadblocks so they can celebrate their achievements at the end of the year.

Resilience

When time is scarce and tasks begin to multiply, it can be difficult to stay focused on those activities you know will drive growth for the team.

Were you able to spend the same amount of time on productive activities in April that you did in June? If not, that doesn’t mean your plan failed; it simply demonstrates how the best-laid plans can get scrapped if the team is not resilient enough to stay focused on long-term goals during periods of short-term stress.

A critical aspect of staying focused is to learn from setbacks or failures when they happen. While it can be tempting to simply “move on” and not look back, these events are best analyzed in the moment. This way, rather than viewing setbacks as permanent black marks on your team’s roadmap, you can view them as learning experiences that helped you reexamine or pivot – and ultimately improve.

While reflecting on failures is necessary, celebrating positive experiences is just as critical for your team’s growth. Acknowledging even the small wins provides the motivation and morale boost that helps build resilience over time.

Here are some inquiries you can pose to the members of your team at your next meeting to get curious about building resilience together:

• How can we support each other when times get tough? Be specific.
• What steps can we take to stop and pause to learn from failures when they occur?
• How can we remember to celebrate the small wins along the way?

Perseverance

Let’s be honest, most of us do not operate at our full energy level or ability every day of the week. And that’s not a shortcoming; it’s just human nature. But perseverance is the ability to bring a consistent level of effort to task each day. In other words, it means simply doing your best.

One of the authors I follow, Rich Diviney, speaks about optimal performance in teams. This is in contrast to high performance, which is usually viewed as a destination or something to achieve, whereas optimal performance is about each team member bringing their best, whatever their best looks like on any given day. See the difference? One is aspirational, and one is logical.

So, how do you socialize that idea with the team so they can bring their optimal performance consistently?

• How can we refocus our efforts on our long-term goals when things get hectic?
• What steps can we take to encourage positive accountability within the team?
• How can we communicate openly when we feel behind so that others can step up and support each other?

Adaptability

One thing I love about our industry is how each day is different. Change occurs all the time, whether it’s through new technology, techniques, or even ways to provide additional services to clients.

I personally thrive off change, although I realize not everyone thinks the same way I do. And it’s important for leaders to keep in mind that each team member is unique and their relationship to change has been shaped through their personal experiences.

Given the pace of change in our industry, adaptability is essential to your team’s ability to pivot when those changes affect your strategic plan. A perfect example was during COVID, when the teams that pivoted to virtual meetings with clients were more successful than those who thought they could ride out the pandemic without making any changes to their business models. The supposedly temporary pivot to virtual meetings wound up being a permanent shift in the way the world connects, and many of the firms that didn’t change are still playing catchup.

Here are three questions you can explore with the members of your team to help enhance the team’s adaptability.

• What can we do to approach each day with a growth mindset and be open to continually learn new skills?
• How can we recognize and understand changes as they arise so we can pivot quickly and effectively?
• How can we better understand each team member’s relationship with change so we can support each other when needed?

While many strengths are needed to achieve your goals, grit can be the key that  allows your team to be resilient, persevere through setbacks, and adapt to change. I encourage you to spend time discussing grit and its related competencies with the members of your team so you can close the year strong and set the foundation for a different mindset heading into 2025.

As always, should you need any support or want to discuss these ideas in further depth, feel free to reach out to your local Janus Henderson director, or contact me directly.