By Adam Carolan, NextGen Planners
I was scrolling through Twitter a few weekends ago, mainly looking for sports and comments about Glastonbury, and couldn’t help but notice the new trend of Threads.
Somewhere and somehow, there is a new trend of business gurus on Social Media telling people how to run their business.
Does this look and sound familiar?
"A step-by-step process on how to make your first million or how to get 20 leads a week."
Most of these threads miss one vital component in my opinion...
There is no step-by-step process to building a business. There is no secret formula. If there was, everyone would be doing it and although it has never been easier to start a business, it has also never been harder to run a business.
The best business owners are focused on their vision and mission. They build values to guide them and are obsessed about execution. Execution moves the needle on a business.
I remember having a discussion with one of our first Advice Stack members, and I could tell that he was full of ideas (many of them from books) and wanted to implement them immediately.
Unfortunately, businesses don’t work this way. There are only so many things you can do at once including looking after your financial planning clients.
Have a Plan
So, with this particular business owner, we built a plan around what the short, medium and long term plans were of the business. Then, we identified issues and opportunities and prioritised them over a year and then over the next quarter.
Every month, we meet to go through how it is going and whether they need any help meeting their quarterly goals.
I am amazed by how much this business owner has improved in his business in such a short space of time. There is no substitute for focus and execution. Great businesses were being built well before social media told us how to do it!
With a one-page plan, focus and accountability, you will be surprised at how much you can do in a year.
Imagine how much you can build in 3 or 5 years?
This is why we built Advice Stack.
We wanted to help financial planning business owners build great businesses and we wanted to give them the education and help but also hold them accountable to the focus and execution part.
Nearly a year in, that Advice Stack business owner is well on the way to building a great business.
He is currently in the process of building great systems and processes across the whole business and next quarter will look to improve his sales process.
He has consistently focused and executed in the last twelve months and I can’t wait to see what business he builds in the future.