In an era when people are questioning whether they even need a financial advisor, when automated investing services threaten to undermine the advisory business, and easy gains have lulled people to sleep, you and I will have stress test moments to prove ourselves – and our value - to our clients. How will we do? More specifically, how will YOU do?
When we consider what the advisory business actually is, a lot of thoughts come to mind. You have yours and I have mine. And while it’s unlikely to get two people to come to a perfect agreement on just about anything, I’d like to suggest that our business is primarily focused on helping our clients achieve their objectives. Simple enough, right? So, if that’s fundamentally true, why does it often seem so complicated to run a successful advisory business?
In Q2 Scott had simple but impactful messaging in his Advisor-to-Advisor webinars…Utilize and maximize the resources you have and make it more profitable for your practice. Scott quoted Tony Robbins: “It’s not about your resources, it’s about your ‘resourcefulness’”! Scott also tapped into one of his favorite books by Jay Abraham on this same topic: “Getting Everything You Can Out of All You’ve Got”! Big take away – “mine” your data!
There are so many things to do, so many activities to perform, so many actions to take to build your business. But are you considering how you should think about your business? Are you putting in the required thinking time in order to hone your strategic vision? It’s the old cautionary tale of a person putting in superhuman effort to climb a great mountain only to discover that he’d climbed the wrong mountain. Are you climbing the right mountain right now?
In the first quarter of 2021 our monthly webinars had a recurring theme, “Clarity”! Thomas Leonard said, “Clarity affords Focus”. Scott and Sean provided examples of this in their monthly topics.
The type of client you choose to serve will have numerous direct and indirect effects on the type of business you build. Everything from the kind of office space you occupy, the marketing efforts you employ, even the types of client events you host, will be impacted by the ‘who’ in your business model. The various pieces of your business must be tightly aligned with the people you choose to serve, or the disconnect will become quite noticeable over time, especially to your clients.
Have you ever heard of a perpetual motion machine? Well, it’s a hypothetical machine that can do work infinitely without an external energy source. It operates by feeding on itself and using its own energy to perform tasks over and over again. It sounds amazing but why is it impossible? Apparently, it violates the first and or second laws of thermodynamics. I share this because we’re intent on building a near-perpetual motion marketing machine for your business. In this case, it’s possible because it has a very crucial ingredient to allow it to work: you.
The obstacles facing advisors over the past year have been well-documented but we want to keep pushing for solutions to continue growing your business. Today we’re joined by Bill Johnson, an author, educator, and tremendous marketing consultant, to explain his LogicTrac process and how to apply it to your business.
The transition from working with prospects and clients in-person to a virtual setting has been challenging for every advisor. Changes bring growing pains and learning experiences, but it’s essential for the future of your business. Today we bring on Daniel Allgaier, CFP®, from our team to talk about his experience teaching virtual classes and the process he uses to get prepared.