As we move through round two of the hockey playoffs, many advisors and investors are glued to their televisions. Meanwhile, all of Canada is left rooting for the Vancouver Canucks.

In a recent article, coaches who had taken their teams to the Stanley Cup finals were asked what it takes to succeed at that level. Their answers provide some important lessons for financial advisors.Some responses were obvious - talent, leadership (both by the coach and the veteran players) and some luck in avoiding key injuries.

There were also three other ingredients to success that also apply to advisors.

Having the right plan

No two winning plans will be the same - every team is different and the plan has to be adapted to the team and who it's playing against. That said, having the a well thought through plan is critical.

That's true of NHL teams and it's true of financial advisors.

Without a clear plan to chart your course and take you where you want to go, your chances of success are slim. So the first question advisors have to ask is "What is it that's going to make me succeed?"

The discipline to stick to that plan

In hockey, when you get behind in a game or in a series, it's easy to lose focus on your plan - but winning teams don't get distracted, they adapt and make changes if necessary, but they stick to their fundamental plan.

Similarly, advisors need the discipline to stick to their plan - especially in tough times like we've seen of late. Yes, if what you're doing isn't working, you need to be prepared to adapt, but this still needs to happen in the context of your overall game plan.

The absolute drive and determination to win

The very best players and the very best teams have a certain refuse to lose, drive to win at any price.

Teams and players that underachieve are often accused of complacency and a lack of mental toughness. Talent alone will not lead to success if it's not accompanied by the determination to win at any cost - it's striking that the general managers of the Edmonton Oilers, Toronto Maple Leafs and Montreal Canadians all ascribed part of their teams' underperformance to players' unwillingness to pay the price to work through obstacles.

The biggest problem for many advisors today isn't unhappy clients or cynical prospects, but that they have lost their enthusiasm and the drive that made them successful in the past.

Given markets over the past year, a loss of enthusiasm is understandable. If we're going to work through the current tough period, however, a lot of advisors are going to have to suck it up and adopt that refuse to lose, I'm going to work through this no matter what it takes mindset.

For most advisors motivation won't happen unless they make it happen with specific strategies. Below are some recent articles outlining specific steps advisors can take to help stay motivated.

In the meantime, here's a simple idea to consider if your productivity is lagging that worked for one advisor.

Before leaving the office, write down the three most important things you need to do the next day.

When you get in the next morning, focus on those three things and resolve that you won't leave for lunch until you get them done. Just doing this and this alone may help you break the logjam of paralysis some advisors are facing and be a first step to recapturing momentum in your business.

Past articles on strategies to keep a positive mindset:

Ten tips to stay positive http://www.strategicimperatives.ca/blog/?p=120

Steps to boost your resiliency: http://www.strategicimperatives.ca/blog/?p=144

Framing events to increase motivation http://www.strategicimperatives.ca/blog/?p=151

The case for long-term optimism

http://www.theglobeandmail.com/partners/free/globeinvestor/investment/nov08/online/goodnews.html

The last resort for achieving motivation http://www.strategicimperatives.ca/blog/?p=158