One of the monumental challenges advisors face in this business is making enough time for clients, prospects, administrative functions, and everything else that needs to get done. So, without any doubt, an advisor’s most valuable resource is their time.
As an advisor, your time is worth $25 a minute. (Yes, you read that right.) For every minute you work, you could be making $25. But only when you are meeting with clients and qualified prospects. That is the monetary value of your time.
We came to this figure after several time management studies, seeing what successful advisors do with the time they have. And more importantly, we discovered what they don’t do with their time.
If your time is only worth that much when you are meeting with and talking to interested, qualified clients and prospects, what do you think happens to derail that?
I will give you a hint… It has to do with delegation. Your production ceiling is created by the non-sales tasks you are doing yourself. These cost you time which in turn can cost you money.
So, the first thing we tell any advisor who is looking to break through their production ceiling is this:
DELEGATE ALL NON-SALES, NON-ADVICE DUTIES TO YOUR STAFF.