This episode of The Confident Advisor Practice Podcast with Bill Bush and Chad Soileau expands upon three common financial terms and applies them to managing your practice: diversification, allocation, and re-balancing. Learn what they mean to you as a business owner, how they can improve your practice management, and the ways in which they will focus the way you are using your time.

Episode Highlights:

• 00:55 – Bill Bush and Chad Soileau introduce the topic of applying the financial

terms diversify, allocate, and rebalance to managing their practice.

• 02:37 – What is diversification and how does it apply to your focases and your

activities?

• 04:40 – Make sure you have enough diversification for what you are focusing on.
• 05:34 – View your allocation in terms of prioritizing your energy, resources and time

to areas of importance.

• 07:20 – Rebalancing is important to reconfigure your actions to match your intent.
• 09:05 – Toggl.com is a tool used at Horizon that keeps track of what you are

doing.

3 Key Points:

1. Diversification is a risk management strategy that mixes a wide variety of investments in a particular portfolio.
2. Allocation is how you are applying your time, resources, and energy into your areas of improvement.
3. Rebalancing is a great way to start a business year to look back at the previous year to see where improvement is needed.

Tweetable Quotes:

• "Look at where your focuses were. Was I very diversified in my thoughts? Was I very diversified in my actions? Was I over-diversified in what I did? Was I under-diversified in what I did?" – Chad Soileau.
• "Anytime you focus more on one particular area of your business, well then something else inevitably is going to fall behind." – Chad Soileau.
• "Certain asset classes are going to get overweighed and it is not where you originally started and you have to ask yourself, 'Do I want it to continue being that way because this is working for us right now?" – Chad Soileau.

Resources Mentioned:

• Horizon Advisor Network
• The Confident Advisor Practice Podcast
• [email protected]
• [email protected]
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