Do you know your number(s)? Once you know your personal numbers you can then establish accurate business numbers. How much business revenue do you need to generate in order to cover your business expenses, pay your taxes, in full and on time, so there is enough left to pay for your present lifestyle and fund your family's financial plan? There is a number. And that number is the right number for your business and your life. Until you know these numbers, every money goal you set for yourself is just a guess. Or, just as bad, a random number established by something silly like how much production you need to qualify for the President's Club conference.
There is a number. Knowing it is crucial to you building your business with the right number of clients, working the right number of hours, for the right amount of money ... for you.

How do you shift? What has to happen for you to break free of the typical advisor syndrome of too many clients, working too many hours, for too little money to having a business with the right number of clients, working the right number of hours, for the right amount of money ... for you? Here are five things to consider.

1. Reread this article and identify the action items. Will this be just another article you read or a call to action that makes a difference?
2. Look into the future by asking yourself this question, "If I continue to do for the next four years what I have done for the last four years, where will I be?" Do you like the answer? If not, now is the time to change course.
3. If you are a veteran, get sick and tired of being sick and tired. You've heard about how some overweight people look in the mirror one day and just decide their unhealthy lifestyle is no longer acceptable and change from that point forward or how cigarette smokers have an epiphany and quit cold turkey. You can do the same. At some point you are going to be absolutely sick and tired of being sick and tired of having too many clients, working too many hours, and earning too little money. Why not today? That's why it's called a "turning point." There is literally a moment where things shift. It can be any moment you choose. It could be right now. It's your choice.
4. If you are new in the business, don't be mesmerized by the production of top producers. You might want their revenue, but would you want their life? If you do what they did you'll get what they've gotten ... all of it. Instead of asking successful producers what they did to be successful ask, "If you knew then what you know now, what would you have done to be even more successful sooner?" "What would you have done in order to have a better business and a better quality of life?" "It's possible that what you did to be successful over the last ten or 20 years will not make you successful in the next ten or 20 years, so what would you do if you were in my shoes going forward?"
5. Accept the universal truths about being successful in business and in life. Truths like the Rule of 168, for example. The truth is the truth. Denying truth, looking for silver bullets to success, or hoping for a shortcut just wastes the valuable time you need to be investing to create a business with the right number of clients, working the right number of hours, for the right amount of money ... for you.
Remember, how you experience this business is your choice. Your success will not be determined by the market, the economy or all of the world events outside of your control. Choose to have the right number of clients, working enough to have a successful business leaving enough time for a great quality of life, and to earn all the money you need for your present and future lifestyle.
Being a financial advisor is a great profession! 

For 22 years Bill Bachrach's company has been helping financial advisors build businesses with the right number of clients, working the right number of hours, for the right amount of money. Call 800.347.3707 to schedule a complimentary consultation or visit www.billbachrach.com.

First « 1 2 » Next