1) Improve Your Time Management
Time is a limited commodity--more valuable than money. Building your business takes time. You need time to:
- Think long term
- Set realistic goals
- Create your strategic business plan
- Develop timelines and deadlines for every project
- Prospect
- Gather Data
- Create investment strategies
- Review investment performance
- Re-align asset allocation, if needed
- Provide outstanding customer service
Have you budgeted how much time you need to build and manage your practice? Stop to consider how much time you are spending on profitable activities (income) and how much time are you wasting on trivial activities (expense) that don't meaningfully advance your business.
Solution: The first step is to ask yourself, "What information and resources will I need to reach my objective?" And then, on a daily basis, ask, "What is my goal for today?" And even within a day, "What is my goal for this meeting?"