The 9 Most Common Mistakes Advisors Make: Mistake #3
The 9 Most Common Mistakes Advisors Make
Mistake #3: Spending Time on the Wrong Things
I often ask the advisors that I coach what they'd want me to do if they hired me as a partner. They always tell me the same thing. They'd want me to bring in new clients, work with their existing best clients, and spend my time on marketing the firm. They would be upset if I spent my time in front of a computer or doing "busy work."
Yet that's what they spend their time doing. I always end the conversation by saying, "If you hired yourself, and you did what you're doing everyday, you'd probably fire yourself within a week."
The number one thing you should be focusing your time on is your clients. Getting in front of them, calling them, and checking in with them on a regular basis. These are revenue-generating activities. The reason you build the right team is so you can offload the tasks that take you away from your clients. The reason you have a business plan is so you know what goals your client meetings are helping you reach.
Do you know where you're spending your time? Take a look at what a top-producing advisor does with his time on an average week, and see how your activities stack up.
Keep your eyes out for our next most common mistake advisors make, and be sure to download our resources to help you spend your time more wisely.