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Grow your business by thinking like an entrepreneur [VIDEO]

Last week I was really lucky because I got to host the IFA inaugural Future Forum event.

And it was so fun, and part of that fun was it was an in-person event.  

So I got to see live people and get up on a live stage.  

It was super cool.  

Anyway, one of the many things that I did as my role as host is, I was moderating a number of panel sessions. 

One in particular, where we had a representative from ASIC, a Licensee, and an advisor all together, and it was to discuss how we can find some middle ground between all three, when it comes to the accessibility and affordability of advice.  

Anyway, there was some great ideas and some really robust conversation.  

But what I really loved was a comment made from the advisor.  

His name was Brendon Vade,  and he is an advisor at Stewart Partners

And one of the questions in the middle of the conversation that I asked him to try and find middle ground and address these challenges.  

What do you think advisors need to do?  

So, from the advice side of the fence, those running the business, what can they be doing to really help address or solve this challenge?” 

And his comment was one of the things that has really troubled advisors over the years is the amount of complexity and confusion with compliance.  

So it’s been really full-on head down, bum up trying to deal with compliance.  

And he said, as a result, many have lost their entrepreneurial thinking, to really think like a business owner, to think about the clients, what the problems are and find creative ways to solve them.” 

And he said (along these lines) you know, if we’re moving forward and trying to address some of these challenges, big challenges, then getting that entrepreneurial thinking back into play, back into how you’re going about doing things, being creative, looking outside and other industries, outside of financial services, for inspiration around what you can be doing and how you can treat your clients.  

He said,” that’s one of the many ways that advisors could really be making a difference to their business and to their clients lives”.  

And I thought that was really cool, because I get with everything overloading into your brain around compliance, that stopping and really thinking about, well, what does the client on the other end really need?  

What are the challenges they’ve got?  

And how can we address them?  

Looking at inspiration, like I said, from other areas, because other industries, who haven’t been burdened with this enormous amount of complexity around compliance, they’re really doing this well.  

They’re getting in and they’re thinking about what do they need.  

How are consumers consuming 

So how are your clients finding information to deal with their financial lives and impact their own personal lives?  

What are some of the things they’re doing?  

So where do you need to maybe put that entrepreneurial hat back on?  

Where can you, knowing that we’re about to head into 2022, where can you look at, what do you need to gear up for next year?  

What do you need to start thinking about from the client’s perspective, to really give them an experience where they just keep coming back for more? 

Addressing some of the challenges that they face in their everyday when it comes to making financial decisions?  

And how can you weave that into what you’re doing and all of the other goodness that you’re providing?  

I know you got a lot on your plate.  

I absolutely know that.  

So if anyone does need a hand doing this, I’d love to help. 

Maybe your Licensee can help or another business coach, but getting someone from the outside to come in and really help you get into and explore your thinking and get some of that goodness out into your business.  

So Brendon, and to all the other panelists and everyone at the IFA, thank you for all the insights you shared.  

And Brendon in particular, this was one of my favorites, a really great comment.  

And this came from an advisor himself, who’s also going through some similar challenges.  

So what can you be doing to really set up 2022?  

To make an even bigger difference in your business and in particular, in your clients’ lives 

Because after all, You are Valuable! 

 

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