Building a simpler business life: Action Plan
Following yesterday’s article ‘How to make your business life simpler and richer’ David J Scarlett outlines a plan of action to help business leaders build a better working life
If you read my article yesterday on AdviserBusinessReview.com you’ll have seen how I changed my own working life for the better and over the past two years I have woven the disciplines into work with my clients.
To build simplicity into a business model requires that the leaders of financial adviser firms step back and take a long hard look at the focus of their business activity.
What are you doing every day that you can see is being done simply just because “This is the way we do things here”?
Ask yourself… do you really want the same burden of workload in five years time?
And do you really believe that “Smarter. Harder. Faster” will profoundly change things?
Are you tinkering at the edges… hoping to make things more efficient?
If you would like to work in a simpler(yet potentially more profitable way, then dramatic – and yes, scary – steps are needed.
Otherwise you’re merely shifting deck chairs on The Titanic!
Six areas for action
Here are six key areas to look at in your business to build in simplicity.
1. Simplify and narrow the types of (new) clients you work with.
2. Decide what technical skills you wish to become well-known for (even if you have a range of other advanced skills).
3. Become an expert in two ways:
a) understanding the world of your client
b) being known for specific expertise.
4. Trim the number of relationships to which you’re devoting your time and energy.
5. Simplify your language. Let go of your ego, and talk the way people talk to their friends.
6. Hire skilled professionals to help you communicate complex ideas in simple, attractive, memorable ways.
This is not going to happen overnight. It will take time to achieve. But taking it one step at a time it is achievable.
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