You are a good sales person; you have a good handle on finding new clients, managing your sales process and keeping your clients happy.
But how are you really doing compared to other financial professionals?
You no doubt are running a "going concern", but where is it going? Have you given any thought to "permanentizing™. " your practice?
That is to say, how long do you plan to keep your clients before they either leave you, or you leave them by selling your practice to someone else? Have you thought about a business succession plan? Do you have a financial advisor who will work with your family if you become incapacitated or die? These are just a couple of the questions that you need to answer and then build a plan of action.
You may be familiar with the terms "suicide" and "homicide", but have you ever heard of "practicide™?" Practicide is something that happens to business owners who have difficulty with change. Is it possible to have too many clients? Is it fair to give every client the same level of service? Are your biggest clients, your most profitable clients? Have you done a good job of insulating your clients from the competition? How well do you know the family - if a client dies, are you sure that you will be the trusted advisor who continues to work with the family members?
The most important questions:
Are you using all your knowledge?
Are you leveraging your time?
Are you leveraging your resources?
Are you cross-selling?
Have you covered all the fundamentals with your clients?
Addie Woods Consulting Co
