you caught up in the day-to-day operation of your practice? Do you
appreciate how much this is costing you? Your availability is the
bottleneck that is limiting the growth of your practice. You are
spending too much time in the office for too little return. And
you have built a practice that grinds to a halt the instant that
you stop working. It's time to start evolving from an operational
role to a managerial role. Once you free yourself from the time-consuming
operational side of your practice, you can focus your energies on
the much more important management side of the business. The result?
Unlimited growth. Less time spent in the office. And a practice
that runs without you.
the following. Greg and Mary are both new wealth managers. Greg
feels that he can build a successful practice by utilizing his winning
personality and his attention to detail. So he establishes a practice
where he plays a central role in virtually every aspect of the operation.
Greg's approach wins him some clients and his practice quickly becomes
profitable (after all, he has avoided the expense of building a
team). But as the years pass, Greg's book of business plateaus at
a relatively modest size. Try as he might, Greg can't grow beyond
this sticking point. It seems that for every new client that comes
on board, an established client leaves. All the departing clients
say much the same thing - service was fine at the beginning of the
relationship, but lately it seemed to drop off. Mary on the other
hand takes a different approach. She feels that building a successful
practice involves developing a system that provides her clients
with a high level of service and finding the right staff to operate
her system. Mary borrows some money to launch her practice, so that
she can immediately begin developing both her system and her team.
Mary's practice isn't profitable quite as quickly as Greg's, because
she has additional staff and financing expenses. But long after
Greg's practice plateaus, Mary's practice continues to grow and
at your peers. You see examples that drive home the truth of this
story every day. Top performers like Mary focus on continually improving
both their system and their team. Struggling wealth managers like
Greg are too bogged down in the operation of their practice to see
the forest for the trees. Wouldn't you like to be a top performer
like Mary? Wouldn't you like a practice with an unlimited growth
potential? Wouldn't you like to spend less time in the office? And
wouldn't you like a practice that continues to run smoothly even
if you take a vacation or become ill?