Can your business survive if you’re unable to work for a while? The answer to this question should be yes. This is the antithesis of everything you know and believe, but it’s important if you want to grow your business. Your business shouldn’t need you to manage day to day activities. Being too involved with day to day activities means you aren’t focusing on more important matters. This applies to established financial advisors, but if you’re just starting out, it’s something you should keep in mind. It’s tempting to involve yourself in everything, but your time is too valuable to waste on mundane tasks.
Your financial advisory business should have automation in place to manage the bulk of the lead generation process. Your team should address any tasks that you can’t automate. With this setup, you can focus your attention on your clients or any other critical matters. This also means that your business won’t break down if you’re out of work for two weeks with the flu. Creating a practice that’s self-sustaining and efficient is a large part of operating with a growth mindset.
Another benefit of building a self-sustaining business is that you won’t need to scramble in times of crisis. Because you’ve built up strong lead generation, you won’t be faced with the question of where to find clients. You’re able to focus and take advantage of the situation unlike others. While everyone else is running and hiding, you can still bring in new business. Another plus is that you’re prepared to manage any clients who are shaken by the crisis. The extra time you spend cultivating your relationships pays off when the market takes a dive. Those clients trust you, and they know you’re not going to lead them astray.
“Your practice doesn’t need you” sounds counterintuitive, but it’s the smart choice if you want to level up. The time you save is time you can use to continue building out your business. If you’re ready to build a self-sustaining business, contact us to schedule your consultation.