During our monthly webinar last Tuesday, we hosted Chad Pennington of RiskyBizConsulting.com, a former BHPH dealer who now consults with dealers. Chad shared his story of becoming a "compliance convert", admitting he spent years being resistant to compliance initiatives before accepting that compliance is an important part of the business and is here to stay.
While he was sharing one of his personal experiences, he said "Procrastination Doesn't Mean it's Gone", and we thought that statement was so insightful that we want to highlight it as this week's tip of the week. We see procrastination all the time, and it takes many different forms. From the client that keeps putting off a Safeguards assessment to one that never quite finds the time to send deal documents over for a review, to the client that has us create written policies but then never implements them, we see and hear all of the excuses.
The common denominator, as Chad so correctly pointed out, is that the obligation to do things right never leaves. When was the last time any of us can recall rules going away? I don't know about you but I'm drawing a blank. Laws and regulations are constantly being added and are becoming more Draconian, not the other way around.
So for this week's tip, we want everyone to accept that this is the world we live in and to make a commitment to make meaningful progress on one compliance initiative this week. How do you eat an elephant? One bite at a time.
If you are paralyzed by fear and indecision and don't know where to begin, please reach out to Ignite at info@IgniteCP.com. We'll be glad to hear about your challenges and come up with solutions. You don't even have to be a client, and there's no obligation.
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