Stop living the “status quo”

Change…YIKES! In business, it can be a scary proposition and it when it comes to changing out personnel, it can make you sick to your stomach.  But, sometimes it is necessary to reach the next level.  When this is the case, try and keep the long view in mind.

As those of you know who’ve read some of my blogs, I’m a real stickler for having my clients write a strategic plan with me.  It doesn’t cost extra, it’s all part of my quarterly retainer.  It’s probably more for me than for you (although it should serve as a reminder as to why you’re doing all of this) but I cannot help you get where you want to go unless I know where that is.  Very similar to the way you work with your clients…I mean, let’s face it…most of a financial plan is for the advisor but what’s wrong with that.  Again, how can you help me go where I want to go if you don’t know where that is!

The next step in my process is to look at the personnel you have on board and really assess whether or not they are the right individuals to go to the next levels with you.  Think back to when you hired them…you didn’t have much money to spend, you didn’t really know what they’d do so it’s entirely possible they were hired to do much less than you will need going forward.

Does this mean we have to throw the baby out with the bathwater?  No!  In many cases, the person you have can be brought up with the process by incentives (get them vested in the firm success, make it a mission not a job), training and being included in the strategic planning process over time.  When this happens, there is usually a re-alignment of their thinking and the way they view themselves within the firm and that can be a great day!  You can really start to cook at that point.

However, sometimes they just don’t fit.  It’s not their fault, it’s not your fault (well, not entirely).  It’s just one of those things.  You are not doing yourself, or them for that matter, any service by hanging on to them simply because you don’t want to go through the pain of getting a new person.  Yes, it will be painful on the front end, like it is for many of your clients when they must save large amounts of money for college or whatever but your job is to help them see the payoff on the back end.  You must do that now with this decision.  Keep your eye on the payoff…higher level of understanding, efficiencies, trust, ownership in their work, vision, etc.  These are all things that will go directly to your quality of life as you move down the road.  If you need it, hire someone like me to help you sort through candidates, do preliminary phone or in person interviews and to help you remember why this is so important to you meeting your goals and living the quality of life you want for you and your family.

Call me with any thoughts. Thanks!