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Practice Made Perfect 9

Practice Made Perfect 9 is the ideal opportunity to spend quality time with the best financial-advisory business consultants in the country. You get tips, tools, and worksheets to ensure that you can manage your practice to become the business success you want it to be. This book will be your new best friend—guaranteed | 58 Practice Made Perfect ing I have time to spend with my kids while they re young and I m able to tend to my clients needs. Surprisingly when his turn came later in the meeting to present a new initiative he rolled out a very aggressive marketing program in alliance with a local certified public accountant and law firm which was producing great numbers of new opportunities. His fellow study group members eagerly pointed out the contradiction between this plan and his desire not to grow. Chastened he said I guess I m just addicted to growth. He became even more uncomfortable when the group looked over his financial data. They saw a tremendous increase in overhead expenses as a percentage of revenue especially in the categories of marketing and administrative salaries and related expenses such as benefits . He also told the group that he was looking for more space to accommodate his fleet of support staff. He later admitted that it was getting harder for him to tend to his clients while having to manage a growing number of staff who were not directly involved in the advisory cycle but were hired primarily to support him. This example points out one of the biggest hurdles for advisers who choose to work alone at least in terms of managing both costs and lifestyle. The solo model works extraordinarily well for those who do not want to grow but for many advisers that s a little like a heroin addict not wanting a fix. There are exceptions but the law of professional practices is that once you become known for being really good everybody wants to do business with you. And it s very hard to turn away good clients. Furthermore it seems that for many advisers the concept of working alone applies only to other professional staff not to support staff. Consequently they have all the headaches of adding people without the benefits of including other professionals who could challenge them give depth to their practice and be another source of revenue and profits for the business.