Asset Managers Are Not Well-Rounded
Are you going to make the roster of a NFL team if you aren’t quick?
Will you make the NBA if you can’t play defense?
Are you destined to play in the NHL if you can’t skate backwards?
No, no and no.
To reach the upper echelon of sport you have to be well rounded. NFL offensive linemen have to be powerful and fast. A point guard that can’t play defense will never make the NBA. The days of being able to “fight” your way onto an NHL team are long gone.
So What Happened?
The leagues matured. Competition intensified.
Today athletes train smarter and advancements in technology have improved performance. There are more elaborate junior programs feeding the engine. Regardless of your sport, there is a line up ten deep for every position. And everyone in that line up is insanely talented.
As an industry, asset management is no different. You show me a strategy… I will show you ten managers with exceptional pedigrees and strong performance. Asset managers can no longer afford to be one-dimensional. Good marketing is as important as good performance, as is operational excellence. To excel in today’s ultra competitive market you need to become a student of the game, and the first step is to understand that it is a multi-dimensional game. Posting good numbers is a big part, but only one dimension.
A point guard in the NBA doesn’t focus exclusively on shooting three pointers. He works on defense, practices free throws, and studies plays.
Asset managers need to adopt this mentality. Being able to do one thing well (perform) is no longer sufficient. The game has evolved. If you want to reach the top, you need to become an extremely well rounded player.
Again, it starts with a shift in attitude. You can’t become better at presenting, a stronger marketer, or a more capable operator without having the desire to improve those aspects of your game. If you don’t believe that success requires a well-rounded approach, talk to the thousands of would be asset managers watching the action from the stands.
By Kyle Dunn