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cover of episode 79. Scale or Customize? How to grow your financial planning business

79. Scale or Customize? How to grow your financial planning business

2023/9/1
logo of podcast Becoming An Elite Financial Advisor With Sten Morgan

Becoming An Elite Financial Advisor With Sten Morgan

Shownotes Transcript

Registration for January’s How To Charge LIVE event is 20% sold so get your ticket below before they are sold out. http://www.HowToChargeLive.com) The Balance of Custom and Scalable: We explored the myth that personal touch is lost when a business scales. It's possible to maintain an outstanding client experience while growing a successful business. The key lies in building systems that can handle increased demand without relying on temporary fixes. The Power of Scalable Systems: You can build scalable systems if you define who you serve and how you serve them. **The Role of Personnel in Scaling: **Adding team members should be a multiplier for your business. As you grow your team, delegate tasks and create space for higher-quality actions. Remember, each new hire should ideally bring your company a 5 to 10 times return on investment. **The Importance of Clarity and Accountability: **Many advisors need help with quantifying the value of their advice. By clarifying your practice and the value you deliver, you can right-size your practice, cut out unnecessary tasks, and scale. Surround yourself with coaches and advisors who are better than you to course correct and think differently. **The Mindset of Possibility: **Adopt a mindset of possibility and learn from others who have successfully scaled their businesses. Even if your firm generates $400,000 a year and feels busy, it may only be two hires away from becoming a $2 million firm.