During this episode of The Confident Advisor Practice Podcast, Bill Bush, Chad Soileau, and Pete Bush talk about the importance of knowing when to say no to a business opportunity.
Episode Highlights:
01:17 – They discuss why saying no is important in running a practice because you can't take on every opportunity that comes your way.
03:59 – Practices should have a defined vision to avoid a catch-all strategy.
04:40 – If you don't make a clear choice about who you want to serve, you have to be able to provide mixed service levels to clients with varying needs.
05:44 – Chad talks about the importance of describing your ideal client.
06:46 – Pete talks about hiring the right person for your organization.
07:34 – All of your business decisions go back to your vision.
08:59 – What are some tools or resources to figure out your strategic planning?
11:04 – Talk to practice coaches and talk about what you really want.
12:05 – What are some times where you said yes to something, or knew that you should say no because they weren't the right fit?
13:32 – It's hard not to have FOMO, or fear of missing out, on a client.
14:06 – You can lean on your outline of an ideal client and your vision when you have to say no to a client to demonstrate that it isn't personal.
3 Key Points:
You should be able to describe your ideal client.
Your vision informs everything, including who you hire.
Speaking to coaches is a great way to develop your strategic plan.
Tweetable Quotes:
"So that forced people into saying yes to a lot of things because they generated revenue, that maybe if they were thinking like a business person, they would have passed on." –Bill Bush
"The vision doesn't just focus you in looking for the right clients, it actually attracts the right people to show up to help you develop that business." –Pete Bush
"I can certainly think of client situations that I thought looked really good on the surface that as you got into them, weren't a right fit." –Bill Bush
Resources Mentioned:
Horizon Advisor Network
The Confident Advisor Practice Podcast
bbush@horizonfg.com
csoileau@horizonfg.com
pbush@horizonfg.com
Call the Horizon Financial Group: (225) 612-3820
Listen to this episode and subscribe to The Confident Advisor Podcast on these podcast platforms:
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