Latest / The Efficient Advisor: Tactical Business Advice for Financial Planners / 158: Ideas to Implement - Scaling Your Business with The Efficient Advisor's Group Coaching Program

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158: Ideas to Implement - Scaling Your Business with The Efficient Advisor's Group Coaching Program · The Efficient Advisor: Tactical Business Advice for Financial Planners

• 0:01
  Speaker 1: Welcome back.
• 0:01
  Speaker 1: I'm so glad you're here.
• 0:02
  Speaker 1: As you know, every week I do my best to create a follow-up episode that is short, sweet and all about the action steps from this week's longer podcast.
• 0:13
  Speaker 1: So the goal really is just for every week to distill that longer episode down into a couple of super actionable bullet points the things that you can take action on immediately to make big impact in your business.
• 0:28
  Speaker 1: I am your host of the efficient advisor Libby Griwe, and I 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.
• 0:40
  Speaker 1: And I'm here to just walk alongside you and to show you how to do exactly the same and to help you take immediate action on the most important strategies for scaling, organizing and creating less stress and overwhelm in your business.
• 0:54
  Speaker 1: We are about to transform your practice, so move over exhaustion and get out of the way.
• 1:00
  Speaker 1: Advisor ADD.
• 1:01
  Speaker 1: It is time to take that one right next step to build a business and a life that you love.
• 1:07
  Speaker 1: So this week's episode was all about how to scale your business using systems and processes and mainly about kind of the details of the efficient advisor group coaching program.
• 1:19
  Speaker 1: So we start on January 9th and a lot of people have asked for details and all the things.
• 1:25
  Speaker 1: So I just wanted to actually take an entire episode and really break down what the program is, what the program is not, who it is right for, who it is not right for, kind of all the things.
• 1:39
  Speaker 1: And don't worry, even if you have zero interest in the group coaching and mastermind, there's still insight to be gleaned from this episode, right.
• 1:48
  Speaker 1: So anytime we're talking about the different processes within your business, the ones that you can systematize, you know we talk a lot about automating, delegating, deleting and streamlining, and really that's essentially what this whole entire program is.
• 2:03
  Speaker 1: So let me give you kind of the highlights.
• 2:06
  Speaker 1: This program is built around this framework that I have developed, really from just being in the industry for the last two decades, right, and from my own personal experience growing my financial planning practice from scratch to you know a point where I could sell it and literally retire, my husband and I, and working with hundreds and hundreds and hundreds of other advisors.
• 2:33
  Speaker 1: Now it's really the six layers that I think kind of exist within every single practice, or really the seven processes that exist within every practice.
• 2:44
  Speaker 1: But the six layers that you need to go in somewhat linear, slash, also nonlinear order to achieve kind of that ideal optimized practice and that looks really different for everybody.
• 2:57
  Speaker 1: But those, those six layers of the system to scale framework, are the first layer being defined.
• 3:02
  Speaker 1: So this is really defining who you are as a planner, the type of planning that you love doing, really what your brand and your brand pillars are your?
• 3:11
  Speaker 1: Why, like getting underneath all of the things?
• 3:13
  Speaker 1: Who are your ideal client avatars?
• 3:14
  Speaker 1: What's your sweet spot when it comes to financial planning?
• 3:18
  Speaker 1: Who do you want to do that for?
• 3:21
  Speaker 1: And then we get into the next layer, which is create, and this is really the big.
• 3:25
  Speaker 1: For me.
• 3:26
  Speaker 1: This is the how right, this is the.
• 3:28
  Speaker 1: How are we going to organize all of this stuff?
• 3:30
  Speaker 1: How are we going to deliver financial planning to these clients?
• 3:33
  Speaker 1: What is your high level planning process?
• 3:36
  Speaker 1: How do we distill that down into detailed, documented planning processes, standard operating procedures, checklists, templates, like all the things?
• 3:45
  Speaker 1: This is also your client experience process.
• 3:48
  Speaker 1: How do we build a practice that curates a very particular experience that we're trying to shoot for with our clients?
• 3:56
  Speaker 1: We also want to then take this client experience process and we want to create the supporting documents, standard operating procedures, the checklists, the collateral, the templates, all the things.
• 4:07
  Speaker 1: And then the third thing that we do inside of the group coaching program, within this second layer, create is, establish your client service model.
• 4:16
  Speaker 1: So this is one of the areas that I think is most important, and I spend a lot of time, especially in one-on-one coaching with clients really working through the client service model.
• 4:27
  Speaker 1: And so, for those of you listening that are like no interest in the coaching program, these are the processes that I think, hands down, that you absolutely need to build and systematize within your business.
• 4:40
  Speaker 1: So what are you going to be doing for clients?
• 4:43
  Speaker 1: How are you going to be doing it?
• 4:45
  Speaker 1: How long does it take for you to execute that, which then backs you into sort of your capacity.
• 4:51
  Speaker 1: It also backs you into the third level of the systems to scale framework, which is attract.
• 4:56
  Speaker 1: So when we understand what our process is, how long it takes for us to execute that for our clients, what our ongoing plan for clients is, how long it takes for us to execute that in year two, in year three, in year four and year 12, right, we can then package and price your planning process.
• 5:16
  Speaker 1: We can also build your how story.
• 5:18
  Speaker 1: So we've talked a lot on the podcast about why story.
• 5:21
  Speaker 1: I think we've talked.
• 5:21
  Speaker 1: Yeah, episode number 62 was about your how story.
• 5:24
  Speaker 1: You want to have a way of describing what you do.
• 5:28
  Speaker 1: You want to productize your process so that it makes it easy to explain for clients and makes it easy for clients to understand, which makes it easy for you to sell and easy for clients to buy.
• 5:40
  Speaker 1: Okay, so that's what we cover in the program for that third layer.
• 5:46
  Speaker 1: There's also a couple other pieces and I've got the systems to scale framework download for you guys that you can have absolute for free.
• 5:52
  Speaker 1: You don't even have to give me your email, you just like take it, which is great.
• 5:55
  Speaker 1: I'll also have in the show notes for this episode the link to the systems to scale group coaching program slash, mastermind, slash just 10 months of awesomeness we get into.
• 6:10
  Speaker 1: Then systematizing how do we build time management systems?
• 6:12
  Speaker 1: How do we actually delegate?
• 6:14
  Speaker 1: How do we streamline what we're doing?
• 6:16
  Speaker 1: How do we save time and energy?
• 6:19
  Speaker 1: How do we create more playbooks, more templates, how do we write our recommendations faster?
• 6:23
  Speaker 1: It's basically templates, templates and more templates.
• 6:27
  Speaker 1: Then level number five is scale.
• 6:28
  Speaker 1: So once we've defined who we're working with.
• 6:31
  Speaker 1: Once we've created a lot of our key core processes, once we've identified how to package and price that to attract the right ideal clients, then we've learned how to systematize this to make it go as fast as possible.
• 6:43
  Speaker 1: Now it's time to talk about scale, and this is where we get into understanding how to scale your planning process.
• 6:51
  Speaker 1: What parts are scalable, what parts are not scalable?
• 6:54
  Speaker 1: Do we have the right team?
• 6:57
  Speaker 1: Do we have the right knowledge?
• 6:58
  Speaker 1: Do we have any process gaps?
• 7:01
  Speaker 1: And how do we build a three year plan to scale our business or leverage your business?
• 7:08
  Speaker 1: Similar, but there is a nuanced difference between leveraging and scaling.
• 7:14
  Speaker 1: Scaling is really growth with I mean, I kind of hate to say it this way but growth with no end in sight.
• 7:20
  Speaker 1: Right, scale means just to get bigger and bigger and larger and larger.
• 7:23
  Speaker 1: So if you're an advisor firm of one and your goal is to be an advisor firm of five, then an advisor firm of 10 and then maybe 100, and you could be like some of the guests that I've interviewed, with these multi-hundred billion dollar AUM businesses right, that's scale.
• 7:38
  Speaker 1: Then there are individuals who are more like me that just wanted leverage.
• 7:42
  Speaker 1: Right, they wanted to work less.
• 7:45
  Speaker 1: They didn't necessarily have these big dreams.
• 7:50
  Speaker 1: Like I personally never dreamt of a 500 person advisory team that I was running.
• 7:54
  Speaker 1: I really just wanted to make the most amount of money that I could and the least amount of time and feel really, really good about the work that I was doing.
• 8:01
  Speaker 1: And I knew that there were some limitations and some caps on that and that was okay for me.
• 8:06
  Speaker 1: I wasn't here to you know, 10x, my 10x to my 10x.
• 8:10
  Speaker 1: I really wanted to grow my business and do more and make more money and increase the amount of value that we were delivering to our clients, but not necessarily increase the complexity.
• 8:24
  Speaker 1: So that's just where I was at and that's a different season.
• 8:26
  Speaker 1: I had young, you know, I had really small children, I had babies when I started this process.
• 8:32
  Speaker 1: So for me, that's where I was and you can scale and you can leverage.
• 8:37
  Speaker 1: The words sometimes get used interchangeably but there is, you know, a somewhat noticeable difference between the two.
• 8:42
  Speaker 1: So that's the fifth layer of the systems to scale framework is scale.
• 8:46
  Speaker 1: Then the last layer is really leading, and this is where we get into creating a modernized org chart, understanding how to delegate, creating systems to delegate so that you can really increase the confidence that you have in the competency of your team.
• 9:01
  Speaker 1: This is understanding KPIs, establishing gold, setting strategies that actually work, all the things.
• 9:08
  Speaker 1: So in a nutshell, those are the things from the systems to scale framework that we cover inside of the program.
• 9:14
  Speaker 1: Now, of course, there are lots of things on the systems to scale framework that I don't cover and you go back to episodes you can go back.
• 9:22
  Speaker 1: So this summer it was June we did a six week series where I went through each layer and got into like nitty gritty detail of what the process was and how to build it.
• 9:33
  Speaker 1: So again, I'm not holding anything back from you guys.
• 9:36
  Speaker 1: I like to give it all to you and like, let you do it if you want support and you want the, the templates and you want the samples and the examples and all the things considered joining the systems to scale, group coaching and mastermind.
• 9:50
  Speaker 1: That kicks off January 9th.
• 9:51
  Speaker 1: It's every Tuesday from 1230 to 130 Eastern Standard Time.
• 9:54
  Speaker 1: Some weeks are prerecorded, some weeks are group think, where we break down into breakout sessions.
• 10:00
  Speaker 1: Some are live teaching, some are live one on one coaching.
• 10:06
  Speaker 1: It's it's a wide variety of formats which keeps it interesting and keeps it really fun because it is a 10 month long program.
• 10:13
  Speaker 1: So this does start in January and it wraps up in November.
• 10:17
  Speaker 1: We get a big old month off in July so that you can enjoy your summer and it's an opportunity to get caught up.
• 10:23
  Speaker 1: So if you want any more information, check out the link in the show notes or you can head over to the efficient advisorcom and there's a banner right there up at the top or you could click on coaching and you shall see all of the details related to the program.
• 10:37
  Speaker 1: It's got a download for all the modules that we cover, so you know what is in scope and what is out of scope, and the longer episode of course comes into detail about what it does not cover.
• 10:48
  Speaker 1: And then there is a calendar, a downloadable calendar, that has the office hours and all of the actual Tuesday events listed, along with the big month long break.
• 11:01
  Speaker 1: So if you have any more questions about that, please don't hesitate to reach out to me at LinkedIn, email me at efficient advisor at gmailcom, and I am happy to jump on a quick call and answer any questions that you might have to see if the program is a good fit for you.
• 11:16
  Speaker 1: Again, go back and listen to the longer episode from Tuesday.
• 11:19
  Speaker 1: It gives a really good idea of who which type of advisor this program is right for or who it is not right for.
• 11:28
  Speaker 1: So take a look at that and if you guys have any questions, please do not hesitate to ask.
• 11:34
  Speaker 1: But the big goal really is to set up this super structure of organization and really create the workflows that you and your team need.
• 11:41
  Speaker 1: We want to move your business forward during the work hours that you want and get you away from playing catch up on nights and weekends, and I really want to take the guesswork out of it for you.
• 11:51
  Speaker 1: So the internet is a beautiful place.
• 11:53
  Speaker 1: You could Google literally probably all the things that I'm talking about.
• 11:56
  Speaker 1: They might have different terms or different language around it, but the idea is that we've curated it all for you.
• 12:03
  Speaker 1: We've put it in a format, in an order that matters, and we've created an accountability structure for you and a group of advisors who are in a similar position for you to share ideas.
• 12:16
  Speaker 1: Everybody comes from a diverse background, of type of business, how long they've been in the business, who they serve, what type of planning that they do, and there's just so much information to be gleaned from your peers.
• 12:28
  Speaker 1: So anyway, if you guys need me, let me know.
• 12:32
  Speaker 1: I am happy to answer any questions.
• 12:33
  Speaker 1: It is a limited number of spots.
• 12:36
  Speaker 1: We do try to manage the size of the groups to keep it small enough that we can get to know each other, but large enough that there's a lot of diversity of thought.
• 12:46
  Speaker 1: And I mean, let's be honest, it's every single week.
• 12:49
  Speaker 1: And is everyone going to show up every single week?
• 12:51
  Speaker 1: No, because life, life gets in the way.
• 12:54
  Speaker 1: So you're always going to have prior commitments that conflict.
• 12:58
  Speaker 1: If that's your issue, don't you worry, we record everything and we plop it out into the Facebook group that each group has.
• 13:06
  Speaker 1: So the other thing that was worth mentioning about the group program as well is that these Facebook groups that we create for you guys live on beyond the program so that you can continue to communicate with these other advisors as you are implementing and you can continue to ask questions and get input.
• 13:22
  Speaker 1: So there is a really great community component to this that we've been working really hard at testing different things and trying out some different things and the program as much as we have like.
• 13:32
  Speaker 1: So I practice what I preach, right?
• 13:34
  Speaker 1: I say all the time that 80% is templated and 20% is customized, so we kind of go with what the group says that they need and we can speed up, we can slow down, we can take a bye week, we can switch the format based on what the group says would be most helpful to them.
• 13:51
  Speaker 1: So it's a pretty great community and it's one of those things that definitely the more you put in, the more you get out.
• 13:58
  Speaker 1: So I look forward to connecting with you guys over on LinkedIn and in the Efficient Advisor community on Facebook.
• 14:05
  Speaker 1: Thank you so much for your time and attention this week and for those of you joining us.
• 14:10
  Speaker 1: I look forward to getting to know you and getting to know your businesses.
• 14:14
  Speaker 1: Thank you so much and have an amazing rest of your week.
• 14:17
  Speaker 1: יה.