the 2 BEST PRACTICES for creating more time
“Remember that time is money.”
According to numerous industry studies, the number one thing most advisors with they had more of (beside assets, of course) is TIME. But you already knew that.
Here’s something you probably didn’t know: our own studies here at Bill Good Marketing show that
You are worth at least $1,000/hour in gross revenue when meeting with and talking to clients and prospects.
But how often do you spend meeting and talking with clients and prospects? Probably not nearly as much as you would like. That’s why it’s critical that you know – and follow – the two best practices on how advisors create more time for themselves…while also making better use of the time they already have.
Best Practice #1: Structure your Day
This Best Practice all comes down to what I call “The Model Day Principle”, which is as follows:
- Always group similar actions and activities into their own time block. This is called a “mini-day.”
- Always position each time block at the time of day when you are statistically most likely to be successful. (For example, make all of your sales calls in the morning, usually between 8:00-10:00am.)
By doing this, you are essentially creating a Model Day – or even a Model Week. Over the last 30 years, I’ve coached thousands of advisors to structure their day this way, and the results are always the same: suddenly, the advisor has more time to meet with clients and prospects.
There are a few other things you should do to create a truly effective Model Day:
- Remember that the basic objective of your model day is to maximize the number of sales contacts you can make in the time available for work.
- When one time block ends, it ends. Don’t let one block bleed over into the next one. Instead, move whatever you didn’t get finished to the same block for tomorrow, and mark it as the highest priority. Otherwise, you’ll have a Model Day on paper but not in practice.
- The most important time block is your Planning mini-day.
To help you create your Model Day, I’ve provided some free goodies. You can find them on the right side of this page.
BEST PRACTICE #2: Build a well-structured team that can protect your time and take on any responsibility that doesn’t require your direct attention.
The first half of time management is having more of it. “The secret” to more time is a well-structured team. There is a huge difference between a bunch of people doing stuff, and a well-structured team.
You can learn all the ins and outs of building a good team by reading my paper, Surefire Team Development. It’s a compilation of all the articles I’ve written for Research Magazine on team development, management, and structure. It’s long, but it’s extremely thorough. And if you think about how much you might spend on your team over the rest of your career, it would make sense to download and read the best material on team development in financial services.
With these two best practices in place, you can effectively buy more selling time (thanks to your team), and then optimize the time you already have (thanks to your Model Day.)
Of course, there’s one other best practice I haven’t covered, and that’s to avoid procrastination. So don’t procrastinate now. Download the free documents on the right and start building your Model Day and your model team!
Bill Good Marketing – There’s a reason our slogan is “double your income or work half as much.”
Back in the 1980s, I was the first – literally, the very first – to ever conduct studies on how advisors spent their time.
I was also the first to advocate the team concept, at a time when most advisors preferred to do everything by themselves.
And I was the one who discovered that advisors are worth at least $1,000/hour in gross revenue when meeting with and talking to clients and prospects.
So if at any point in your career, you say to yourself:
- “I’d like to do more prospecting, but I just don’t have the time”
- “I’d like to meet with clients more, but I’m always too busy”
- “I wish I could spend more time with my family/friends/on the golf course”
Then it’s worth looking at how Bill Good Marketing can help you create more time, optimize the time you already have, or work half as much. Whether it’s helping you build your team, creating a Model Day, or providing you with the tools, resources, and software to make the daily grind easier and more manageable, we can help you like we’ve helped so many others.