My practice is currently not profitable or efficient and I am constantly dealing with client and administrative problems. Should I get my back office in order first or get some money in the door now and worry about the back office later?

Article ID: 183
Last updated: 20 Nov, 2019
The treadmill you describe is very common. We spend our lives coaching advisors who are in exactly the same predicament to get off that treadmill forever. Follow our process for organizing your calendar. It is well described in your Mastery Series™ 1. Never abandon one important thing in your business to completely focus on another. It’s career suicide. One third to client service, one-third to client acquisition and one third to building and leading your Deliverables Team – what you call your back office. We have the resources, programs, and services to help you with all three. Let’s say that you work 45 hours / week. That means that 15 hours – not a minute more – is invested in client service. 15 hours – not a minute less – is invested in referral-based client acquisition, and 15 hours to running your business. The average Financial Advisor spends less than 2 hours / week engaged in meaningful client acquisition. It does not take long when you consistently do Committed Advisor work to increase your flow of new clients, thus increasing your revenue and profitability and having the money and time increase your efficiency. Your ACC should be working with you to organize your calendar as I described.

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