In this series, we share some of John Sanderson's favorite insights and anecdotes from his book, “Lessons Earned.” Throughout the book, John shares dozens of lessons he has learned, starting as a young boy and culminating with his leadership as founder and chairman of Sanderson Wealth Management.
Let me start by acknowledging that change isn’t always easy.
From the start of my career, I had always used a paper calendar. For 34 years, that’s where I kept track of every client meeting, personal appointment, birthday, and anything else of note. It’s not an exaggeration to say I probably wrote down 100,000 different events over the course of those years.
And then one day, when I came back from a brief vacation, my beloved paper calendar was gone, replaced by a digital version. My executive assistant, Donna, had transitioned everything into my computer, and was ready (as always) with a plan. She showed me how to use the new tool, and why it would be better for me—and, more important, for everyone else. I never looked back. I didn’t grow up with technology, but I certainly recognize its potential to transform the way we work.
Moving forward isn’t just about technology. It means keeping an open mind in all aspects of the business. A few years ago, my son Justin wanted Sanderson to get involved in private equity. I listened to what he said, but didn’t think it was right for the firm, so I shot the idea down.
Fortunately, Justin is a persistent guy, just like me. He flew around the country and talked to dozens of people in the industry. He did his research. He found a smart way to invest in private equity in a way that alleviated my concerns. And now this asset class represents a significant part of our portfolio at Sanderson. I may be stubborn, but I’m not too proud to change my mind.
As Justin takes over the reins at Sanderson, he is even more determined to keep us moving forward. There’s a wall in our office covered with an overview of our 10-year plan, broken down into 90-day increments of how we’re going to get there. As Yogi Berra once said, “If you don’t know where you are going, you’ll end up someplace else.”
As advisors, we must recognize that our clients’ circumstances, priorities, and goals change throughout their lives. Plans need to be re-addressed as time goes on.
But whether it’s for ourselves or our clients, the one constant is that we always need to be looking for better, smarter ways to do things. Taking a step forward can be scary, especially if you can’t see exactly where you’re going. But if you want to get ahead and stay in the lead, it’s the only direction to go.