What’s the most important thing I tell my clients?
I was asked about this during a recent podcast with business coaches Ed and Jody Jacobson for their Financial Planning Success Series.
Normally, my clients ask about various problems and ideas they have about their businesses, and I respond. It was interesting for me to step back and think about what the “key” points might be.
After some thought, I discussed what I tell my owner-advisor clients at the beginning of our relationship about being successful business owners.
Most owner advisors wear many hats: leader, mentor, boss, visionary, rainmaker, financial advisor, manager, and strategist. And thinking about all these responsibilities at once can be overwhelming.
To simplify the conversation (and to calm them down), I separate all their jobs into two main categories: thinking and doing.
I point out that building a successful business requires the owner to do both. And that the key to success is finding the right balance between the two.
Even though most owners don’t want to hear this, too much focus on either thinking or doing will be damaging to your business.
I think most people are either thinkers or doers, especially when it comes to business owners.
Thinkers are more comfortable when they are thinking about things, while doers are happiest when they are making things happen.
Of course, there’s nothing wrong with either: the world needs doers and thinkers. But advisory businesses need leaders who are both.