Business Life Integration

For years I have been attempting to “balance”  both business and life. I set schedules, work both my strategic and tactical calendars. For me to do the “deep work” that is necessary for my business and clients, I had to re-think what time is and how to use a calendar. I started with a blank whiteboard and disregarded all the rules. What or listen to my new approach below.

 

1st Quarter 2018 Review & 2nd Quarter Tips

Welcome to April and the start of a new quarter. It’s hard to believe that 25% of 2018 is in the books. It’s time for you to make sure you are on track and if you need to make any adjustments, let’s make them. That’s what this video is all about.

How Financial Advisors Need to Prioritize

All of us at some point fall victim to task list creep.  How do you determine what is not only is important but will help you increase revenue? What I have found is basically only two types of tasks. Those that will make you money, and everything else. Let me share with you this very simple yet impactful strategy.

PracticePower Academy Podcast #1136 “The DNA of Top FA’s”

Since I’m on a Strategic Break, this podcast will actually be a recording of a recent PracticePower Academy Webcast titled “The DNA of Top FA’s”. The description is below,  have a great week.
In this 75 min webcast, Coach Joe Lukacs will explain what the habits, beliefs, strategies, and systems of some of his most successful clients and partners.
You will learn:
- The “X” factors that are critical to your success.
- How to break down the barriers that have held you back.
- The 80/20 rule of success.
- How to avoid slumps.
This podcast is brought to you by PracticePower Academy, the financial service industry’s only 100% free coaching and training resource. Create your business plan, marketing plan, learn how to structure your mornings and days for success, access over 300 hours of training free.  Go to http://practicepower.net/ and claim your free membership.
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PracticePower Academy Podcast #1135 “My Summer 2017 Guidelines For Clients”

The official start of summer is just around the corner. With that comes a set of unique challenges for most advisors. You want to get out and enjoy the summer weather. Maybe your children are out from school. It’s vacation time. Time for some golf and tennis perhaps. It’s barbecue and boats for many. With all that being said, it’s also time to continue to grow your business. Below is my Do’s and Don’ts to make your summer fun and still move your goals forward.

Dont’s
  • Buy into the belief that you can’t do business in the summer months.
  • Believe that you can “flip” the momentum switch come Labor Day.
  • Believe it’s OK to come into your office and “hang-out” and play office.
  • Punish yourself if your are not achieving success by “grounding” yourself to your office.

Do’s
  • Maintain your Daily Success Discipline (DSD). That means Morning Success Ritual & Daily Game Plan
  • Take time off (Renewal Time) even if you don’t plan to travel.
  • Shift your schedule. Leave early. Golf Fridays.
  • Go and see your clients. Hit the road and visit them.
  • Set the stage for a great fall by “planting” business development seeds all summer.
  • Schedule fun clients events “picnics and pig roast” for all.

This podcast is brought to you by PracticePower Academy, the financial service industry’s only 100% free coaching and training resource. Create your business plan, marketing plan, learn how to structure your mornings and days for success, access over 300 hours of training free.  Go to http://practicepower.net/ and claim your free membership.

PracticePower Academy Podcast # 1134 Advisor 2025 (A Preview of a Future Practice Model)

This podcast is a replay of a recent webcast that I hosted for PracticePower Academy Members. I go into a deep-dive on where the opportunities are for success over the next several years.
Description
In this 75 min training, Coach Joe Lukacs will explain what the advisor of 2025 needs to look like, provide, charge, and be able to execute in order to be profitable and vibrant. This is an update to I-Advisor or Advisor 2015. We call it the Magellan Model.
You will learn:
- The 3 types of practice models and which is best for you.
- How to add value to client relationships for future growth.
- How advisors will charge for their services.
- What skills you will need to develop.

PracticePower Academy Podcast #1133 “ Knowing Your Numbers”

I recently had the opportunity to consult with a client during a strategic day to really “dig-in” and make suggestions into how they could optimize their business and really grow their revenue. We look at all their processes, especially their business development process and client profitability. They found the process to be so valuable, I wanted to share some of the most important ‘KPI’s” Key Performance Indicators that, once you determine what your are, will give you a whole level of new insight into your business.

I have found over 40 KPI’s for a practice. For the sake of time I want to discuss some of the highlighted ones. These are in no particular order:

  • How many clients do you have? How are they segmented? What is the standard of care for each segment?
  • What is the average annual recurring revenue (AAR) per each segment?
  • What is the average length in years of your average client engagement per segment?
  • What is the lifetime value of the average client per segment?
  • What is your average cost to serve the average client per segment?
  • What does it cost you to acquire a client?
  • What does it cost you to onboard a new client?

These are just a few KPI’s that all advisors need to know. Remember, you are a business owner.

I am hosting a webcast on Wednesday May 10th at 11:30am EST. For details and registration info head over to:https://attendee.gotowebinar.com/register/308512349773829890

This podcast is brought to you by PracticePower Academy, the financial service industry’s only 100% free coaching and training resource. Create your business plan, marketing plan, learn how to structure your mornings and days for success, access over 300 hours of training free.  Go to http://practicepower.net/ and claim your free membership.

PracticePower Academy Podcast #1132 “Managing Your Most Valuable Resource…Time”

Time, the only resource in our lives that we all have the same amount of. There are only 24 hours in all of our days and all our years consist of 365 days. Mastering your time is a strategy many advisors struggle with. Think about how much time each day, weekend year you squander. Many advisors operate with the obsolete concept of Monday-to-Friday, a couple of weeks “off” per year, and operating with the “groundhog day” execution, each day basically the same.

In this podcast I will discuss the following:
  • * Why the Monday-to-Friday concept is obsolete.
  • * Why the “I’ll do it later” is a productivity killer.
  • * How I and my clients execute the Magellan Time Model.
  • * What is Tactical Time.
  • * What is Strategic Time.
  • * What is Renewal Time.
  • * Some various examples on implementing these models.

As I mentioned in the podcast, any advisor can have 30 minutes of my time gratis. Please follow the link below for instructions.

http://practicepower2.net/member/home-2/live-coaching-access/

 

PracticePower Academy Podcast #1131 “Understanding Advisor Head-Trash”

What holds an advisor from creating their ideal life and business? Their intelligence? Their lack of resources? Their firm? Their Team? We can keep going, but I think you get my drift. As I dive deeper into creating my advisor P.O.S workshop (Personal Operating System), what holds you back is the basic fact you have some “trash” that must be felt with in order for you to take action and proactivity create your ultimate vision. Many advisors don’t want to go down this road because of their ego and arrogance. My advice, put that aside and you will start to see a transformation in yourself and your results

In this episode I will cover the following:

  • Ego & Arrogance the million dollar advisor tax
  • What defines “Head-Trash”
  • The direct effect to your success and bottom-line
  • Time to get real and “take the trash out”
  • Proven strategies to make the shift you need to make

This podcast is brought to you by PracticePower Academy, the financial service industry’s only 100% free coaching and training resource. Create your business plan, marketing plan, learn how to structure your mornings and days for success, access over 300 hours of training free.

PracticePower Academy Podcast #1130 “My Magellan MasterMind Debrief”

Last week I hosted our winter Magellan MasterMind meeting in beautiful Del Mar CA. This group meets twice a year to mastermind, brainstorm, and discuss what the business will look like in 10 years. We also look at how we and our businesses need to evolve in order to continue our growth. I decided to dedicate this podcast to briefing all of you on some of the key takeaways from our meeting.

In this episode I will cover the following:
  • Trends that I am seeing in our industry
  • Is flat fee asset management the future?
  • What does the practice of 2025 look like?
  • A brief overview of why your “P.O.S” is THE MOST important resource you have.

This podcast is brought to you by PracticePower Academy, the financial service industry’s only 100% free coaching and training resource. Create your business plan, marketing plan, learn how to structure your mornings and days for success, access over 300 hours of training free.