Latest / The Efficient Advisor: Tactical Business Advice for Financial Planners / 216: Ideas to Implement -- Implementing EOS In Your Business and How To Lead Your Firm w/Josh Kosnick

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216: Ideas to Implement -- Implementing EOS In Your Business and How To Lead Your Firm w/Josh Kosnick · The Efficient Advisor: Tactical Business Advice for Financial Planners

• 0:00
  Speaker 1: Okay, real quick.
• 0:01
  Speaker 1: Before we get started, I want to share some exciting news the Retirement Tax Services Summit that I will be a keynote speaker at here in Tempe, arizona, september 26th through 27th.
• 0:12
  Speaker 1: You guys, I'm so excited.
• 0:14
  Speaker 1: They are offering a virtual option.
• 0:16
  Speaker 1: The live event is sold out.
• 0:17
  Speaker 1: Plus, it feels like a little late, except for those of you who are super fun and spontaneous.
• 0:22
  Speaker 1: It feels a little late to book travel for them, but you can actually participate.
• 0:26
  Speaker 1: They're making the whole program available virtually for a really crazy reasonable price.
• 0:32
  Speaker 1: So I will be speaking.
• 0:34
  Speaker 1: I would love for you to join us.
• 0:35
  Speaker 1: There are some another.
• 0:36
  Speaker 1: You know there's a whole bunch of amazing speakers on the lineup.
• 0:39
  Speaker 1: I'm not going to take a ton of time here, but I will make sure that the link is available inside of the show notes.
• 0:44
  Speaker 1: You can also check out the banner over on the website at the efficientadvisorcom and you can click there to get more information about joining us virtually for the event.
• 0:55
  Speaker 1: Hey gang, welcome back.
• 0:57
  Speaker 1: I'm so glad you're here.
• 0:58
  Speaker 1: As you know, every week I want to create a follow-up episode that is short, sweet and all about the actionable steps from this week's longer podcast.
• 1:06
  Speaker 1: So my goal is always just to distill the episode down into a couple of takeaways or bullet points that you can act on immediately to make a big impact in your business.
• 1:15
  Speaker 1: Right, I want to take the thing that we learned and actually do the thing and implement it.
• 1:20
  Speaker 1: I am your host of the Efficient Advisorby Grywee and I started from scratch and built a 100% referral only planning practice that I grew to seven figures as a solo advisor, all while working just three days a week and taking off 14 weeks a year so that I could be a fully present mom, wife, friend, sister, daughter and, you know, on occasion, actually carve out a few minutes for myself.
• 1:43
  Speaker 1: And I'm here just to walk alongside you and to show you how to do exactly the same thing and help you take immediate action on the most important strategies for scaling, organizing and creating less stress and overwhelm in your business.
• 1:56
  Speaker 1: That is my sweet spot.
• 1:57
  Speaker 1: So we are about to transform your practice.
• 2:00
  Speaker 1: So move out of the way advisor ADD and get out of the way exhaustion.
• 2:05
  Speaker 1: It is time to take that one right next step to build a business and a life that you love.
• 2:11
  Speaker 1: So this week's episode was all about implementing EOS Entrepreneurial Operating System inside of your financial planning practice.
• 2:20
  Speaker 1: My guest, josh Kosnick, was on just kind of dropping all the bombs and sharing all of the details.
• 2:26
  Speaker 1: He is an EOS implementer and he kind of got into his background right.
• 2:31
  Speaker 1: He came from financial services.
• 2:33
  Speaker 1: You guys know how I'm a little obsessed with making sure that my guests are financial advisor specific or have been in the industry or serve the industry exclusively.
• 2:44
  Speaker 1: Right, because we are a special kind of crazy and you need to either be one of us or work with us exclusively to understand us.
• 2:52
  Speaker 1: So Josh and I kind of got into this whole idea of like becoming a great boss and leader and how most of us in this industry or in this job sort of became a boss or a CEO or a leader by accident and it was more of a default thing versus a design.
• 3:09
  Speaker 1: Like a lot of us, when we're being courted to the industry or we're thinking about this as a career, we're not really thinking about oh, I want to grow this into a business and that's going to require a significant investment in my own leadership abilities, in my own leadership abilities, in my own time management and productivity abilities.
• 3:27
  Speaker 1: This is going to be a lot of refining and stretching me as an individual.
• 3:32
  Speaker 1: We think more along the lines of oh cool, there's an unlimited amount of income and I could build this big business and I could hire all these people, and we just kind of forget that with all of that comes this need for infrastructure and systems and processes and operations and all of the things.
• 3:51
  Speaker 1: So one of the things that Josh and I got into was sort of this importance of leadership, and it's important enough that it's one of the modules inside of our coaching program.
• 4:01
  Speaker 1: We spend a fair amount of time at the end, as we're kind of putting a bow on all of the things right, talking about developing leadership and how to be a boss by design versus a boss by happenstance, and developing these skills.
• 4:14
  Speaker 1: And Josh, I know this isn't ideas to implement episodes, so I'm going to keep it brief, but Josh shared a couple of things that I actually thought were really, really helpful.
• 4:22
  Speaker 1: The first was this idea of taking clarity breaks, and since Josh and I talked, I shared this in the episode in the outro.
• 4:30
  Speaker 1: Since he and I talked a couple months ago and recorded the interview, I have been trying to do more of this throughout the day, like I'm a big believer, you know, in model week.
• 4:40
  Speaker 1: You can go back to episode number 12, where I dive into all of the details about designing the perfect schedule.
• 4:45
  Speaker 1: But we get really deep into this idea of having margin and having time to think as a CEO and time to focus on operations and process and people, and do we have the right people in the right seats and the bus even going in the right direction, all of that stuff?
• 5:03
  Speaker 1: But what we don't do is take time throughout the day.
• 5:05
  Speaker 1: At least what I, you know, wanted to build more in after having this conversation was taking that time throughout the day to be able to process and gain clarity over things that were coming at me all day, every day, because sometimes you just don't have until Friday at 2 pm when you have white space in your calendar to think through something or to process something.
• 5:24
  Speaker 1: So I thought that was really helpful.
• 5:26
  Speaker 1: I also really loved this idea that he shared.
• 5:30
  Speaker 1: He said something in the episode that really struck me that every ADD needs an OCD and a lot of advisors come to me when I'm speaking at conferences or I'm out at industry events.
• 5:43
  Speaker 1: People will say, oh my gosh, you were one of the first people that I heard share this idea of advisor ADD and how, as an adult, you, running this business, experienced a lot of just distraction and shiny objects.
• 5:56
  Speaker 1: But to like another level, right when there's always something you want to do, you want to do with the business, or something you want to try, or something you want to implement, or something you want to tweak and something you want to change, and there's so many of us and that's actually your superpower and what makes you an amazing financial advisor and what's got you here.
• 6:11
  Speaker 1: But it unfortunately isn't enough to get you there.
• 6:16
  Speaker 1: And you need that implementer to offset your visionary.
• 6:20
  Speaker 1: You need that OCD to offset your ADD.
• 6:23
  Speaker 1: And I was actually out at lunch with my um, my implementer, francesca, and we were chatting and she's like I saw in your show notes for that Josh episode, cause she takes care of that kind of stuff.
• 6:34
  Speaker 1: She's like, oh my gosh, I am your OCD and you are the ADD and I was like I know that's why we go together like peanut butter and jelly and I love it.
• 6:42
  Speaker 1: I also loved some of the tools that Josh shared.
• 6:48
  Speaker 1: There's the accountability chart, the rocks, the people analyzer some of the stuff that EOS puts out there, you guys, is great, and if you haven't read some of the Gina Wickman books.
• 6:59
  Speaker 1: I would highly recommend it.
• 7:00
  Speaker 1: The first one I read I kind of read them in reverse order, but I actually think I like reading it this way.
• 7:05
  Speaker 1: I started with Rocket Fuel and that to me was just and talk about ADD.
• 7:11
  Speaker 1: It's the perfect book for small business owners.
• 7:15
  Speaker 1: With ADD, you really only have to read the first six chapters, because then it gets into larger businesses and so it's like the quickest read, almost as quick as my favorite book Built to Sell, but it's a quick read and it's really not super fluffy.
• 7:28
  Speaker 1: I think because of that, like sometimes you read these business books or these personal development books and you're like, okay, okay, okay, get to the point here.
• 7:34
  Speaker 1: Like I don't need necessarily all of the backstory, I just need to know a little bit and then tell me what I'm supposed to do about it.
• 7:41
  Speaker 1: So I love some of the EOS tools.
• 7:45
  Speaker 1: Then if you read Rocket Fuel, you're going to want to then jump to the book Traction, or maybe you want to read it the other way around, as they were intended.
• 7:52
  Speaker 1: You do you boo-boo.
• 7:53
  Speaker 1: I'm not here to judge, but I did it the other way around and it was just fine.
• 7:56
  Speaker 1: But Traction is also an excellent book.
• 7:58
  Speaker 1: I will link all of those in the show notes for you guys.
• 8:01
  Speaker 1: You don't have to write it down if you're in the car or make a note on your phone while you're on the treadmill or wherever it is that you guys are listening, um, so he is going to share a couple of those efficiency tools with you.
• 8:17
  Speaker 1: We have a link available on the show notes, um, or on the webpage as well, but I would love for you to.
• 8:20
  Speaker 1: Maybe we should do traction as one of our fake book club books.
• 8:24
  Speaker 1: But I'd love for you to read this and just start really thinking about how you can take that time to actually become a better leader and take that time to learn how to delegate better and to stop micromanaging.
• 8:37
  Speaker 1: And the other book that I would add onto this is that who, not how, by Dan Sullivan.
• 8:42
  Speaker 1: Oh, excellent, um, and and we talk about this a lot in coaching about this idea that, especially when you're starting your business, you hire people because they're available, they have a pulse, they maybe have a skill set, they seem nice enough.
• 8:56
  Speaker 1: You're drowning.
• 8:57
  Speaker 1: So you hire somebody and you start to build the role around that individual, versus actually stepping out and looking at your practice like a ceo and really starting to build the roles that your business needs.
• 9:09
  Speaker 1: And you've heard me say it before, but the team that got you here is not going to be the team that gets you there.
• 9:15
  Speaker 1: Most likely, you're going to need more people, or you're going to need different people, or you're going to need specialists or you're going to need licensed individuals.
• 9:21
  Speaker 1: So the team that got you here most likely isn't the team that will get you there, but also the processes that got you here are not the processes that are going to get you there.
• 9:29
  Speaker 1: The systems that got you here are not the systems that are going to get you there.
• 9:33
  Speaker 1: The clients that got you here are often not going to be the clients that get you there.
• 9:37
  Speaker 1: So there's a lot of things that you need to be constantly looking at and reiterating inside of your business, and your leadership skills are one of them.
• 9:44
  Speaker 1: The tools that you have in your tool belt, the things that you know got you here, but they're not going to take you to that next level.
• 9:51
  Speaker 1: I get advisors, you know, doing CEO sessions or coming into our group coaching program all the time, who have massive turnover and are trying to, like, figure out what is going on, and often you know we have to have that hard conversation about well, what is the common denominator here?
• 10:07
  Speaker 1: Are they walking into an office where everything's on fire all the time?
• 10:11
  Speaker 1: We're just working to get caught up.
• 10:14
  Speaker 1: We're drowning.
• 10:15
  Speaker 1: Nobody knows exactly what's going on or how they're being measured for success and what's kind of next and what they're supposed to be doing and what really their role is and how does that play into the bigger vision of the business.
• 10:26
  Speaker 1: So getting clear on some of that stuff and taking the time out to really develop some of those leadership skills and start using actual tools inside of your business to help you do that are super helpful.
• 10:38
  Speaker 1: Okay, I know I always say I'm going to keep this short.
• 10:39
  Speaker 1: So those are some of the takeaways and the things that kind of were resonating with me.
• 10:44
  Speaker 1: After this conversation with Josh, I would love to chat with you more about it out in the Efficient Advisor community on Facebook or over on LinkedIn and, if you're able, I'd love for you to attend the Retirement Tax Services Virtual Summit.
• 10:58
  Speaker 1: You guys love Steven.
• 10:59
  Speaker 1: He's one of my favorite guests I have on the podcast to talk about all things taxes and how to be better tax planners for our clients.
• 11:06
  Speaker 1: Would love to see you there Again.
• 11:07
  Speaker 1: All of the books, all the details, josh's info, all the things are in the show notes.
• 11:12
  Speaker 1: Thanks so much, and I hope you guys have an amazing rest of your week.