Why poor client experiences may be costing you revenue
“The biggest source of lost revenue is the prospect you never knew about,” said David Avrin, author and president of Visibility Coach. The potential client called, but you didn’t answer...
Tag Archives: practice management
6 components to consider when hiring key staff
It’s no secret that staffing plays an enormous part in the performance of a practice. Hire the wrong person, and you will likely suffer a variety of frustrations and inefficiencies...
Nominate your clients for awards and reap your own benefits
You know when your clients’ businesses are thriving. Do you do everything you can do to help others know that? Daniel O’Connell, MBA, a 10-year MDRT member from Addison, Texas, works...
The role of humor in leadership
By Karyn Buxman, CSP, CPAE Great leaders understand the important role humor can play in resilience. The time was one of the darkest in America’s history: the Civil War. In a meeting...
3 tips for hiring a virtual assistant
Hiring a virtual assistant to handle some of your professional and personal tasks can free up your time for more strategic, profitable opportunities. Here are some tips for how to...
3 mistakes to avoid when compensating junior advisors
By Jason L. Smith When it comes to compensation for junior advisors, companies often make the following mistakes: Giving them too much of the revenue off the sale they make. For example,...
Are you making these hiring mistakes?
By Fred Matulka As managers, your best workers require little of your time, while your struggling or poor performers take most of your time. It’s as if you are herding cats,...
4 important questions to ask yourself
A little more than 10 years ago, Devang Patel, CFP, CLU, was at a crossroads. The now-14-year MDRT member from Edison, New Jersey, was working very hard but neither seeing...
5 steps business owners can take to ensure a good transition
By David Grau Jr. Purchasing a business, especially from a family member or mentor, takes time and a willingness to have awkward conversations. The transition plan needs to include discussions on...
Working with low-net-worth millennials who may be averse to fees
To some clients, a small percentage change in fees will not make a huge difference. For millennial clients — many of whom are early in their careers and figuring out...
What to do and not to do to create a waitlist practice
By Tracey Karen Diana Devonport Just imagine having a practice so in demand that you’re never actively prospecting and new clients go on a waitlist to see you (and they’re prepared...
Why many advisors increase staff morale through flexible approaches to time
Brian Nicholas Byars, a one-year MDRT member from Covington, Georgia, said when he focuses on what’s important for staff, staff will focus on what’s important for his seven-advisor practice in...
How the little things make a big impact on staff morale
When it comes to creating a positive culture, even something that may seem elementary can go a long way toward motivation and camaraderie. Renee Hanson, CFP, CDFA, who oversees the seven...
Why 1 member uses 12 coaches
Even LeBron James has a coach. This simple, accurate, oddly profound statement comes from Devang Patel, CFP, CLU, who uses 12 — yes, 12 — coaches to aid his practice. “It’s...
The impact of ensuring your clients’ kids have powers of attorney
By James J. Silbernagel, LUTCF, CFP We had a client whose kid was going to school in Colorado and got in a car accident. The friend that was with him called...
