Latest / The Efficient Advisor: Tactical Business Advice for Financial Planners / 204: Ideas to Implement -- The Exact Framework Your Business Needs **FREE DOWNLOAD**

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204: Ideas to Implement -- The Exact Framework Your Business Needs **FREE DOWNLOAD** · The Efficient Advisor: Tactical Business Advice for Financial Planners

• 0:00
  Speaker 1: I'm Ryder Taff advisor and majority owner of New Perspectives Incorporated in Jackson Mississippi.
• 0:06
  Speaker 1: I just finished the Efficient Advisor Systems to Scale group coaching program and I cannot recommend it enough.
• 0:12
  Speaker 1: Before joining the group, I couldn't delegate, I had poor follow-up and I was just overwhelmed with a mess of tasks on my to-do list every single day.
• 0:21
  Speaker 1: While I haven't completely transformed the business, I'm constantly improving our processes and I can see the path ahead.
• 0:29
  Speaker 1: For instance, I was recently able to systematize a high value tax review document the process and have my associates handle most of it, allowing me to step in and add more value with less stress.
• 0:43
  Speaker 1: The cohort in the group coaching is awesome too.
• 0:47
  Speaker 1: We learn from each other and we encourage each other outside of scheduled meetings.
• 0:50
  Speaker 1: The whole program is tremendous value and if you can join with an accountability partner, because you're going to have a lot of professional growth in a short amount of time.
• 1:02
  Speaker 2: Welcome back.
• 1:02
  Speaker 2: I am so glad you guys are here.
• 1:05
  Speaker 2: Every week, my goal is to create a follow-up episode that is short, sweet and all about the action steps from this week's longer podcast.
• 1:13
  Speaker 2: So every week I try to distill the episode down into just a couple of bullet points that you can take action on immediately to make a big impact in your business.
• 1:23
  Speaker 2: I am your host of the Efficient Advisor, libby Greivey, and I built a 100% referral-only planning practice that I grew to seven figures, all while working just three days a week and taking off 14 weeks a year so that I could be a super present mama and wife and daughter and sister and friend and all the things right.
• 1:42
  Speaker 2: And I'm really just here to walk alongside you and to show you how to build the exact same systems and processes and help you take immediate action on the most important strategies for scaling, organizing and creating less stress and overwhelm in your business.
• 1:55
  Speaker 2: We are about to transform your practice, so move over exhaustion and advise your ADD.
• 2:01
  Speaker 2: It is time to take that one right next step to build a business and a life that you love Now.
• 2:10
  Speaker 2: This week's episode was all about the six layers of the system to scale framework.
• 2:17
  Speaker 2: So basically, you may or may not know, I have a framework that I have developed over the last 20 years to help advisors.
• 2:22
  Speaker 2: It's what I used in my own business to grow and to scale and to build out all of the systems and processes and kind of microprocesses.
• 2:30
  Speaker 2: So I call it the systems to scale framework and I've got a free download for you that you can take advantage of and literally you can sit down with your team and start walking through this and start to build out all of these layers.
• 2:43
  Speaker 2: You can do it on your own.
• 2:44
  Speaker 2: You can join us for the group coaching program where we do it in a super deep dive, where we guide you through it, give you all of the things.
• 2:52
  Speaker 2: But really I've taken these seven major processes that exist in your business and I've broken them down into microprocesses and then I use this framework to help you build a layer, because there is a natural pecking order, right, you have to have some of the foundational stuff before you can start creating your processes and systematizing and scaling and all of the things.
• 3:14
  Speaker 2: So this is the framework that we work off of in our group coaching program, which does start August 22nd and registration opens on July 8th for that.
• 3:23
  Speaker 2: So that should be.
• 3:24
  Speaker 2: That's open.
• 3:25
  Speaker 2: It's probably open right now when this episode is coming out, but enough about that.
• 3:30
  Speaker 2: I'm super excited for advisors to join us.
• 3:32
  Speaker 2: As you heard from Ryder at the beginning of the episode, the results have been phenomenal and it's just been so much fun getting to know all of these advisors and their businesses and seeing them leave feeling organized, structured and like they're ready to take on the world.
• 3:48
  Speaker 2: It's just so fun.
• 3:50
  Speaker 2: Okay, but there's essentially six layers that all of your processes fall into.
• 3:55
  Speaker 2: So there's the seven major processes and they all have these little micro sub process.
• 3:59
  Speaker 2: But I like to think of your business as a cake, right?
• 4:02
  Speaker 2: Each layer has its own ingredients and when you add the right ingredients in the right order, layer after layer, you end up with a super sweet, delicious business.
• 4:13
  Speaker 2: So today we are going to recap, just at a very, very high level, the six layers that exist in the framework and you can go back to the longer episode and kind of dive really into each layer and what you need to be doing inside of that layer.
• 4:30
  Speaker 2: And again, there is a whole podcast series that I did last summer, starting around episode 124, where I really went in each week for six weeks into extreme detail, describing the exact exercise process thing that you need to build.
• 4:45
  Speaker 2: So the first layer is really defining, and defining is the foundational layer where we're really understanding what is our service offering, what is our unique value proposition, what is our DNA as a planner, as a business, as an entity?
• 5:02
  Speaker 2: Who are we trying to target?
• 5:04
  Speaker 2: Who is our most profitable ideal client avatar?
• 5:06
  Speaker 2: So, basically, how do we start doing the type of planning that we like doing for the people that we like doing it with in a way that is monetized right, that is profitable for us?
• 5:18
  Speaker 2: We also, in this layer, want to start building out our why and our why stories that we can communicate effectively to our clients about why we got into this business and why we do what we do, the way we do what we do.
• 5:32
  Speaker 2: And I think this is really important and kind of an under utilized area for advisors.
• 5:37
  Speaker 2: It's one of those things, at least in my own business, that I would kind of roll my eyes at and skip and be like that seems fluffy.
• 5:42
  Speaker 2: But the longer I've done this and now having coached over a thousand advisors right, I see how important it is, like all of your systems and processes need to be built on who you're doing it for, and I know that sounds a little woo woo or whatever, but you have to have a grave understanding of what is it that your ideal client avatar is looking for and what is it that they are.
• 6:06
  Speaker 2: What problems do they want you to solve?
• 6:07
  Speaker 2: What fears do they have?
• 6:08
  Speaker 2: What buying?
• 6:09
  Speaker 2: How do they make their buying decision?
• 6:10
  Speaker 2: All of the things, and I'll give you an example quickly.
• 6:14
  Speaker 2: I know these episodes are supposed to be short, but I have the super sweet advisor that I was working with in Canada and she wanted to focus on retirement income distribution strategy.
• 6:24
  Speaker 2: That's what she loved doing, that's where she made most of her money, that's where she just like kicked butt and took names, and she wanted to be known for that.
• 6:30
  Speaker 2: So we took her entire financial planning process and we got rid of almost all of the components, except for the retirement income distribution, and instead decided to take all of the other tenants of financial planning and put those into year two, year three, year four and just really focus on in that first year, doing what she wanted to do, and we didn't change the price a single bit, right?
• 6:55
  Speaker 2: So she was taking bazillions of hours to put together these big elaborate plans that she didn't enjoy and, um, we were able to cut that back by like nine tenths guys, and charge the same amount.
• 7:08
  Speaker 2: So it's so much more profitable doing it.
• 7:10
  Speaker 2: And she's like it's crazy, because people want this.
• 7:12
  Speaker 2: They don't want a financial plan from me.
• 7:15
  Speaker 2: They're coming to me for the income distribution strategy and she's become known for that now, which is super amazing.
• 7:20
  Speaker 2: But you have to know who your clients are and what they really genuinely want, and then build your systems, build your processes, build your planning services around those people.
• 7:30
  Speaker 2: Which brings me to layer two, which is create.
• 7:32
  Speaker 2: So this is the layer in which you create all of your processes and document them.
• 7:36
  Speaker 2: You build out the templates, the standard operating procedures, the checklists, the brochures, all the things.
• 7:41
  Speaker 2: This is an important layer because this is where you start to systematize.
• 7:47
  Speaker 2: You really start to, I should say, standardize your service offerings and start to document them in a way that allows you to delegate more effectively and more efficiently and to help when you have turnover, things like that.
• 8:00
  Speaker 2: You also want to get hyper-organized of how you're going to organize all of your processes and systems.
• 8:07
  Speaker 2: How do you actually make it functional without having to click 37,000 times to find stuff All right.
• 8:13
  Speaker 2: Third layer is attract right.
• 8:14
  Speaker 2: This is where you want to package and price your planning process, build out your house story, um.
• 8:21
  Speaker 2: Make sure everything is interconnected, that your brand story weaves throughout all of your processes and shows up in all of your emails and all of your website copy.
• 8:32
  Speaker 2: You want to have a uniform, really focused marketing message that speaks directly to your clients, and we want to package and price our planning processes and our fee structures right In a way that makes sense for our ideal client All right.
• 8:52
  Speaker 2: Layer four is systematized.
• 8:53
  Speaker 2: So this is where you're building out all of your time management system.
• 8:55
  Speaker 2: So you're building templates for like recommendations, meeting notes, things that are going to make you work faster.
• 8:59
  Speaker 2: This is where you're building out workflows and things that will automatically cascade tasks and do all the things.
• 9:05
  Speaker 2: You hear me say it all the time automate, delegate, delete and streamline.
• 9:08
  Speaker 2: This is where we're talking about automation and delegation.
• 9:12
  Speaker 2: Layer number five is scale right.
• 9:16
  Speaker 2: So really understanding how to scale your planning process.
• 9:19
  Speaker 2: How do we take something that feels so custom and actually build it in a way where it can actually scale, and then how do we start identifying who the right players are, what knowledge gaps we have, what process gaps we have, and really building out our three-year plan to scale.
• 9:37
  Speaker 2: The sixth layer is lead.
• 9:40
  Speaker 2: So this is where you are stepping out of that advisor role and into your role as CEO and I'm not saying this is for this layer, is only for advisors who are no longer seeing clients.
• 9:51
  Speaker 2: That's definitely not what I'm saying, but really just taking an opportunity to take off that advisor hat for a moment and put on that CEO hat and really start thinking about your business as a business.
• 10:03
  Speaker 2: Right, how do we build out infrastructure so that we can accomplish our dreams and visions?
• 10:05
  Speaker 2: How do we build out infrastructure so that we can accomplish our dreams and visions?
• 10:08
  Speaker 2: How do we make this an incredible place to work?
• 10:11
  Speaker 2: How do we develop our employees?
• 10:14
  Speaker 2: How do we create goals and strategies to accomplish those goals that actually work, really building out what KPIs, what should we be tracking?
• 10:23
  Speaker 2: How do you actually step into that CEO role?
• 10:26
  Speaker 2: Start delegating more effectively, creating a modernized org chart where people can really understand their roles and responsibilities and how to excel at the position that they're in.
• 10:39
  Speaker 2: So I know that was a lot of words in a short period of time, but obviously go back to the longer episode where we get a little bit deeper into each of those six layers.
• 10:48
  Speaker 2: And of course, you can do this on your own.
• 10:50
  Speaker 2: You absolutely can do this.
• 10:52
  Speaker 2: You can Google all the things.
• 10:53
  Speaker 2: You can figure out how to do each one of these.
• 10:55
  Speaker 2: Um, uh, there's no gatekeeping here.
• 10:58
  Speaker 2: I want to elevate the industry by elevating advisors and helping you, especially the good ones, right?
• 11:04
  Speaker 2: The good advisors, that's, you that want to build a business and don't want to burn out, right?
• 11:10
  Speaker 2: You don't want to let things drop through the cracks or make mistakes for your clients or miss opportunities because you're so busy living in the tornado just trying to keep your head above water.
• 11:20
  Speaker 2: If that's you, I would love to just invite you into the group coaching program, where we go through a whole bunch, a whole mess of processes not everything in the systems of scale framework, but the core processes and we actually take the time, we carve out the time to build them out so that you can eventually move into a place where you feel organized, where you feel peaceful, where you feel confident in the competency of your team, where you feel like you can actually detach from your business and you're only working the hours that you've chosen to work right.
• 11:57
  Speaker 2: So if you don't want to work nights and weekends and you want to be able to detach and not be tethered to your phone, this is the program for you.
• 12:04
  Speaker 2: The results have been phenomenal.
• 12:07
  Speaker 2: I absolutely it's one of my favorite things that we do in this business.
• 12:11
  Speaker 2: I love the podcast, I love one-on-one coaching, I love keynote speaking, but the group coaching this is my favorite because I love getting to know these advisors, their businesses, I love seeing those aha moments and I love watching them no longer feel like they're operating in a silo right being able to connect with advisors from all over the country, from all walks of life, serving different types of clients, different geographic areas, different demographics.
• 12:40
  Speaker 2: It's so cool to see these advisors building relationships and starting to gel and sharing templates and ideas and thoughts.
• 12:47
  Speaker 2: It's just a really cool place, so I'd love to invite you into that.
• 12:50
  Speaker 2: If you'd like to join us.
• 12:52
  Speaker 2: You can check out the main webpage of the efficientadvisorcom.
• 12:55
  Speaker 2: There's a coaching tab and there's a little banner up at the top.
• 12:57
  Speaker 2: You can also click the link in the show notes below or you can Google system.
• 13:02
  Speaker 2: You know efficient advisor systems and scale group coaching, so I would love love, love again to invite you into that.
• 13:14
  Speaker 3: Thanks so much and I hope you guys have an amazing rest of your week.
• 13:16
  Speaker 3: My name is Jen Becker and I'm a financial advisor in Faribault, Minnesota.
• 13:20
  Speaker 3: I went through Libby's program and her coaching is, hands down, the best training I've had in my 16 years as a financial advisor.
• 13:24
  Speaker 3: Each session I come back with dozens of new ways to streamline my processes and I can get it all done in less time.
• 13:31
  Speaker 3: Libby gives you all the tools and templates to truly build out your systems.
• 13:35
  Speaker 3: I've tripled my revenue while working less since signing up with the efficient advisor.
• 13:40
  Speaker 3: Your business is worth the investment of your time, your energy and your money.
• 13:45
  Speaker 3: You will not regret going through this program.