Latest / The Efficient Advisor: Tactical Business Advice for Financial Planners / 169: Ideas to Implement - Delegating Tasks That Are Nuanced **FREE DOWNLOAD**

Transcript

169: Ideas to Implement - Delegating Tasks That Are Nuanced **FREE DOWNLOAD** · The Efficient Advisor: Tactical Business Advice for Financial Planners

• 0:01
  Speaker 0: Welcome back.
• 0:01
  Speaker 0: This week we talked all about how to delegate those tasks that feel just so much more nuanced, like you need education or experience or you know the just the things that feel hard to template or feel hard to delegate and maybe feel hard to teach.
• 0:23
  Speaker 0: That's what we got into this week and I'm so glad you're here.
• 0:25
  Speaker 0: So every week I try to create a follow-up episode that is short, sweet and hull about the actions steps from this week's longer podcast and I'll be honest, I've kind of sucked with this lately, but I'm back so each week the goal is really just to distill the episode down into a couple of bullet points that I want you to act on immediately to make a big impact in your business.
• 0:47
  Speaker 0: I am your host of the efficient advisor, libby Greilwe, and I built from scratch 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 to lean into being a mom, a wife, a friend, a sister, a daughter and, frankly, a travel obsessed human.
• 1:07
  Speaker 0: I am here to 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.
• 1:20
  Speaker 0: That's my specialty.
• 1:21
  Speaker 0: Let's reduce that overwhelm.
• 1:22
  Speaker 0: So we're about to transform your practice.
• 1:24
  Speaker 0: So move over exhaustion and get out of the way.
• 1:27
  Speaker 0: Advisor ADD.
• 1:27
  Speaker 0: It is time to take that one right next step to build a business and a life that you love.
• 1:34
  Speaker 0: And before I dive into the recap, there are three things that I wanted to mention.
• 1:38
  Speaker 0: So here at the efficient advisor, we do what we call fake book club.
• 1:44
  Speaker 0: It is the most informal fake book club of all time.
• 1:48
  Speaker 0: So I am just trying to stay committed to my goals of reading a certain number of books and just sharing them as I go, and I did this once last year.
• 1:58
  Speaker 0: I was reading who, not how.
• 2:00
  Speaker 0: No, no, no, it was gap in the game.
• 2:02
  Speaker 0: It was the gap in the game by Ben Hardy and Dan Sullivan and I just shared online like hey, I'm really liking this book.
• 2:09
  Speaker 0: If you'd like to join me, we're going to do a fake book club.
• 2:12
  Speaker 0: You read it at your own pace.
• 2:13
  Speaker 0: There's no meetings, we never talk about anything, we don't discuss.
• 2:16
  Speaker 0: We just do a couple of things that you know.
• 2:18
  Speaker 0: I'm learning from it and you do you at your own time table.
• 2:21
  Speaker 0: I know I'm involved in a couple of book clubs and it's hard to stay on somebody else's time table.
• 2:27
  Speaker 0: So, fake book club I'm currently reading a book called the ruthless elimination of hurry and I'm really enjoying it and I'll share a little bit more about it here.
• 2:37
  Speaker 0: Just on social, some of the things that I'm learning.
• 2:40
  Speaker 0: If you follow me on linked in, that's my main platform.
• 2:42
  Speaker 0: That's where I'll be doing a lot of the recap and you could kind of see some of the takeaways that I'm having and if it might be a good fit for you.
• 2:48
  Speaker 0: So, fake book club there's no link.
• 2:51
  Speaker 0: There's no nothing.
• 2:51
  Speaker 0: Just buy the book and read it.
• 2:53
  Speaker 0: It's great.
• 2:55
  Speaker 0: Two other things to mention We've got the one page financial plan masterclass by my friends Matt Jarvis and Micah Shalanski over at the perfect RAA.
• 3:03
  Speaker 0: It is on sale right now and you are able to buy it through the link in my show notes for $499 and it's just a whole boatload of content about how they have really mastered this idea of creating simple, easy to understand yet comprehensive one page plans for their clients.
• 3:26
  Speaker 0: So if that's your jam and something you're wanting to implement here in 2024, make sure you check out the link.
• 3:31
  Speaker 0: The other thing I just want to mention briefly is, if you'd like to hang out with me, I am going to be releasing information soon about an event that I will be at in Tempe, arizona, in September.
• 3:44
  Speaker 0: So mark the 25th through the 27th off on your calendar September 25th through 27th if you want to join me for a really cool conference out in Tempe, and more details to follow.
• 3:56
  Speaker 0: But hint, hint, my friends Matt Jarvis, michael Shalansky and Stephen Jarvis, who've all been on the show, will be there.
• 4:02
  Speaker 0: So micro calendars should be fun, all right.
• 4:06
  Speaker 0: So this week's episode was that nuanced delegation, and I mentioned in this episode that there's a full episode on my delegation process that I used in my office, with the download.
• 4:17
  Speaker 0: Just like this episode has a download, episode number 23, where I give my actual step by step process for how I delegated to my team in a way that allowed me to build a ton of confidence in their competency.
• 4:33
  Speaker 0: So that's one of the things you know we struggle with as advisors, as we dump all these ideas and tasks onto our team and then we don't really have a good way of actually making sure that they're doing the way that we want to do it and that it's being done consistently at the high level, and we're wanting to avoid ni-gos and all the things.
• 4:48
  Speaker 0: So, you know, we talk about how to actually work through those stages and how you know when to move on to the next one, and in the episode I talk about a more nuanced okay, like well, yeah, that seems really easy.
• 5:02
  Speaker 0: Libby, if you're just teaching somebody to fill out, roll over paperwork, what about something like I want to offload the task of having somebody on my team instead of me call competitive companies and get all the transfer requirements and information?
• 5:17
  Speaker 0: How do I teach?
• 5:18
  Speaker 0: Like?
• 5:19
  Speaker 0: That's something that takes time.
• 5:20
  Speaker 0: I sit on hold with my clients, we get on the phone with them, we ask all the questions, we do all the things.
• 5:24
  Speaker 0: Then we have to call another institution.
• 5:26
  Speaker 0: It can be pretty time consuming.
• 5:27
  Speaker 0: So how do I teach somebody else all of the things?
• 5:32
  Speaker 0: And really it's a process of following, really, the five steps of delegation that I mentioned in that episode number 24, but doing it in a way that allows your team to document what you're doing and start crafting a script based off of all of the things that you're experiencing.
• 5:52
  Speaker 0: So you're going to want to create an outline like, hey, here's what I typically ask.
• 5:55
  Speaker 0: And then you're going to want to invite them into the process and have them watch you do it, participate in those calls, document the things that you're saying, document the questions that you're asking, that the client's asking, that the transferring institution is asking.
• 6:09
  Speaker 0: You might be looking at them and sharing, like, okay, some companies require gold medallion signature guarantee.
• 6:15
  Speaker 0: So make sure you ask that question, or make sure you ask them how they want to receive the paperwork.
• 6:19
  Speaker 0: You know, and they're going to be documenting all of this into a script, and then you're going to want to take that information and refine it, craft the language, do some of these calls together.
• 6:31
  Speaker 0: And it's really this idea.
• 6:32
  Speaker 0: You know, if you knew that you could take $10 and invest it now and that you would get $10 back really really soon, and another 10 back in four months, and then maybe a hundred back next year and maybe a thousand back next year, you know, would you recommend something like that to your friends, family, clients?
• 6:49
  Speaker 0: Of course you would.
• 6:50
  Speaker 0: So I want you to think of it the same way.
• 6:52
  Speaker 0: This $10 is like 10 hours of your time, so you can invest a lot of time into building out a process and sometimes that's where we as advisors we kind of like, oh, it's just faster if I do it.
• 7:03
  Speaker 0: But every time we say, oh, it's just faster if I do it, that's one step away, that's one step backwards from being able to delegate that task.
• 7:10
  Speaker 0: So think of it like investing that time and energy into the process so that you can save hundreds and hundreds of hours and literally never, ever have to do that process ever again.
• 7:25
  Speaker 0: You know there was never a day where I sat there and thought, oh gosh, you know I really miss making those phone calls and sitting on hold with the clients and asking about M&E charges and the company trying to retain the business while I was on the phone and, you know, kind of getting into it.
• 7:39
  Speaker 0: I never missed that and you know I want you to take the example.
• 7:44
  Speaker 0: So there's a temp, there's a download that goes with the episode where I've just given you hey, here's my asset transfer disclosure or asset transfer language script that we use in our office as an example and go back to listen to the long episode, because it's hard to kind of recap the whole thing here without making this episode just as long as Tuesdays.
• 8:01
  Speaker 0: So but really following that process of watch me do it and document this in your own words.
• 8:07
  Speaker 0: Then I'll watch you do it and give you guidance.
• 8:10
  Speaker 0: And you continue to document it in your own words.
• 8:12
  Speaker 0: Then you do it without me, bring the thing to me and let's see what you missed.
• 8:18
  Speaker 0: How can I help refine that?
• 8:19
  Speaker 0: How can I help make it better?
• 8:21
  Speaker 0: Then you eventually get to a place where, okay, they've been bringing that to me maybe 10 times and now we don't have to.
• 8:27
  Speaker 0: You know, I don't have to check this anymore because they've nailed this process, like they've nailed this transfer, they've nailed this rule over paperwork, they've nailed this, whatever the task is.
• 8:36
  Speaker 0: And then you let them go and do it and report the results back to you.
• 8:40
  Speaker 0: So step four is sort of them doing the thing and bringing to you in a team meeting or in a huddle or whatever, and saying, hey, I submitted this, this, this, this and this, and here's what happened.
• 8:50
  Speaker 0: We had a Nigo, we had mostly in good orders.
• 8:52
  Speaker 0: Here's something that I ran into that I've never seen before.
• 8:55
  Speaker 0: And then you eventually get to this place where there's no issues and then you move to step five, which is just you do it and never tell me about it Like if you there's a problem, you fix it, unless it's something I absolutely need to be brought into.
• 9:06
  Speaker 0: And that's really how you build that confidence and the competency of your team and how you feel comfortable as a control freak, which a lot of us are me included right, it's hard to let those tasks go because if they get, you know, boned up, that's a reflection on you, that's a bad potential client experience.
• 9:23
  Speaker 0: So how can we actually establish a process to delegate tasks more effectively in a way that's building your willingness to let some of those things go?
• 9:33
  Speaker 0: So, if you haven't listened yet, jump back to Tuesday's episode and listen to the whole thing, it's entirety, episode number 168 and really start thinking about what are some of those more nuanced things that you can be teaching some of your senior staff and help build a process for them so that you can take it off your plate.
• 9:52
  Speaker 0: Thank you, guys so much.
• 9:54
  Speaker 0: As you know, I hang out in the efficient advisor community over on Facebook and you can connect with me over on LinkedIn.
• 10:00
  Speaker 0: Linkedin is my main platform y'all where the most content is coming out, and I'm trying to produce more videos.
• 10:06
  Speaker 0: I've gotten amazing content manager now who is pushing me to do all kinds of stuff, so putting more on my plate, which means I have to give more away.
• 10:13
  Speaker 0: So, anyways, hope you guys have an amazing rest of your week.