What's Keeping You From Your "Perfect" Practice?
7) I have too many unprofitable clients.
You have been a Financial Advisor for a number of years. You have too many unprofitable clients. You need to ask:
- Who are my really good clients?
- What are their revenue and assets?
- Do I like working with them?
- Do they follow my advice?
- Are they a good referral source?
- What is their future potential?
- Am I delivering the right services to them?
- How much does it cost to service them?
- What actions can I take to create profitability?
Solution:
Our experience is that your first decision is to define what success means to you. Is your goal a million or multi-million dollar practice or a “Lifestyle” practice. Based on your and your family’s decision the roadmaps will be different. While the decision is yours, we can help you through that decision process.
Your success in reaching your goal and YOUR dream practice will be a function of your definition of success and what success means to you. We will work through a process of defining your vision and mission, who you are, your values, what you want to achieve in life and what you see as your life’s purpose or meaning. Your spouse and family should also be in concert with your views.
It will be important to understand your client set and your intended client set. What are their wants, needs and expectations? Higher expectations may move you towards one end of the spectrum vs. the other. What are your client’s values and interests?
Finally, we will help decide what results you expect and detail your expectations including how you and your family want to live your lives, where are you now, where do you want to be and when do you want to be there? This will allow you to put your plan in place and outline the short, medium and long-term actions that can get you to where you want to go.
Our experience is that your first decision is to define what success means to you. Is your goal a million or multi-million dollar practice or a “Lifestyle” practice. Based on your and your family’s decision the roadmaps will be different. While the decision is yours, we can help you through that decision process.
Your success in reaching your goal and YOUR dream practice will be a function of your definition of success and what success means to you. We will work through a process of defining your vision and mission, who you are, your values, what you want to achieve in life and what you see as your life’s purpose or meaning. Your spouse and family should also be in concert with your views.
It will be important to understand your client set and your intended client set. What are their wants, needs and expectations? Higher expectations may move you towards one end of the spectrum vs. the other. What are your client’s values and interests?
Finally, we will help decide what results you expect and detail your expectations including how you and your family want to live your lives, where are you now, where do you want to be and when do you want to be there? This will allow you to put your plan in place and outline the short, medium and long-term actions that can get you to where you want to go.
If you are wondering what steps to take to grow your business, and what approaches and processes we have designed, I can help you take the next steps to get to the next level.