Lesson #1: Get Clear!
Who is the leader? Is your leader acting like one? Rule: there can only be one leader. What are the rules that your team have to play by? What are the roles of each player? Be sure that those roles are clearly defined. What is the code of honor i.e. the Constitution of the organization? This document creates the ethos of the organization (this is who we “really” are). What are the goals? How do people on your team know that they are succeeding? What is the accountability structure?
Lesson #2: Get REAL!
Does your model support having a billion dollars in assets? – Are you clear on what your model is? – Do you already feel overworked and that you are working at capacity? Once again, be real! If the answer is yes then you will not have the space to grow. – what is your process for serving clients -what is your process for growing the business – are you also tangibly clear on why you must have a billion dollars in assets? Just having more money is usually not enough of a reason to take consistent right action.
Do not be all things to all people. Who or what is your niche? Be relentlessly focused. Be clear on your model. If you are a high touch, high service firm- be one! However, if you invite 1000 friends to your ‘intimate’ party, you are not one. The fewer clients, the better. One of my billion dollar teams has 52 relationships and over 1 billion dollars in assets. This team started with 1400 relationships and only a fraction of the assets. As the team culled their clients, their revenue went up as a result of the high touch service they were able to provide. Some of the best business decisions you make will be the people and opportunities you say NO to! Partner with others who also serve your particular niche. Go deeper rather than broader. Face time, face time, face time. Shared experience, shared experience, shared experience. Be vulnerable and share who you are. Social media has made this much easier! I have recently had a couple of my clients blog about their overseas vacations. They shared their blogs with their clients which led to a deeper connection and relate-ability. Their goal is relationship first, business second. Prove to them that you are a trusted advisor. Leverage your clients. We use basic social principles to grow our social networks, why not use them to grow your business network. The Champion Path is a program we developed that walks you through how to be introduced to more people like your top clients.
Lesson #3: Get a coach.
You do not have a monopoly on good ideas! Every professional athlete has a coach to continually fine tune their game – so should you!
