Raise Your Time Esteem
As financial advisors, we get so much out of our work. When we solve a client’s goals' dilemma, or save them taxes, or help them with a strategy that captures an opportunity they might otherwise have missed without us, we are fulfilled. We are fueled by helping our clients, regardless of their income or asset level.
This is one of the reasons it is so hard for some advisors to segment their clients, align service models with client size and complexity, and adopt the fees that properly reflect and compensate the advisor for the value they deliver to clients.
Working through this concept recently with financial planner Abby Kovach, the following intentional and mindful statements were developed to focus on the protection of time and the growth of value:
“I can only deliver an excellent client experience sustainably from a properly managed business.”
“I don’t have time to serve everyone, so I must focus on serving clients whom I can help the most.”
“I want to grow the business income specifically by NOT GIVING AWAY TIME.”
How we use our time applies to any business owner. We all find ourselves, on occasion, lowering our time esteem.
How Time Esteem Drives Energy, Sanity, and Value
Abby shared her thoughts on the book Scarcity: Why Having Too Little Means So Much, which inspired her to this kind of thinking:
“One of the ideas is that if time, energy, or whatever resource is scarce, it takes a lot of mental energy to manage that resource, which is very draining. Also, if you make a mistake with it, it can cost you dearly.
On the other hand, if you have an abundance of something, you don't have to think too much about how you use it, and you can make a mistake without really suffering any consequences.
So, when I keep my work hours reasonable, I'm available to make sure that the kids have what they need for school and activities — deadlines get met, and we, as parents, show up when and where we are supposed to be.”
Financial advisors, do you struggle with segmenting your clients, creating service models, and/or raising your fees? You’re not alone. It’s hard to say no or change what you’ve been doing for a client for years. But if you don’t protect your time, your clients aren’t getting your full value.
Reach out to Qii today to learn more about how important time esteem is to your growth and freedom.