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The Advisor’s Growth Playbook: Vision, Referrals, and Results
In this episode of the "Can I Borrow Your Car" podcast, host Mike Garrison delves into the foundational steps for building an ideal advisory practice, focusing specifically on the growth phase. Garrison frames this as the first of a two-part series, emphasizing that success in business comes from treating people right while striving for excellence.
He outlines a seven-step process for advisors aiming to create their ideal practice:
- Define Your Ideal Client: Garrison stresses the importance of clearly identifying the type of client who brings the most satisfaction and profitability, and aligning your service model to exceed their expectations.
- Assess Your Current State: Evaluate how many ideal clients you currently have, the total client base, and whether your existing service model can support your goals.
- Set Your Growth Interval: Determine the realistic number of ideal clients you can onboard each year without sacrificing service quality, and set clear acquisition targets.
- Engineer Your Referral System: Garrison advocates for a proactive, giving-based referral strategy, highlighting its effectiveness—especially for advisors seeking more sophisticated clients.
- Double Your Activity Targets: He encourages advisors to set ambitious, measurable activity goals for both giving and receiving referrals, noting that most people underestimate the effort required.
- Share Your Vision: Communicate your business goals and vision to your network to attract support and potential referrals.
- Build a Waiting List: As you approach your ideal client count, maintain a waiting list to ensure continuity and allow for strategic growth or transitions.
Throughout, Garrison emphasizes the importance of relationship-building, proactive marketing, and maintaining a mindset of continuous improvement. He concludes by reminding listeners that building an ideal practice is a journey worth pursuing, one that allows advisors to grow their business and love their life.
Learn More About Can I Borrow Your Car:
https://caniborrowyourcar.com/
Subscribe to the Can I Borrow Your Car Substack:
https://bit.ly/CanIBorrowYourCarSubstack
Connect with Mike on LinkedIn:
https://www.linkedin.com/in/mikegarrisoncaniborrowyourcar/
Buy your copy of Can I Borrow Your Car:
https://amzn.to/3ZeudQV
Email Mike: [email protected]
Call Mike: 540-314-5665
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By Mike GarrisonIn this episode of the "Can I Borrow Your Car" podcast, host Mike Garrison delves into the foundational steps for building an ideal advisory practice, focusing specifically on the growth phase. Garrison frames this as the first of a two-part series, emphasizing that success in business comes from treating people right while striving for excellence.
He outlines a seven-step process for advisors aiming to create their ideal practice:
- Define Your Ideal Client: Garrison stresses the importance of clearly identifying the type of client who brings the most satisfaction and profitability, and aligning your service model to exceed their expectations.
- Assess Your Current State: Evaluate how many ideal clients you currently have, the total client base, and whether your existing service model can support your goals.
- Set Your Growth Interval: Determine the realistic number of ideal clients you can onboard each year without sacrificing service quality, and set clear acquisition targets.
- Engineer Your Referral System: Garrison advocates for a proactive, giving-based referral strategy, highlighting its effectiveness—especially for advisors seeking more sophisticated clients.
- Double Your Activity Targets: He encourages advisors to set ambitious, measurable activity goals for both giving and receiving referrals, noting that most people underestimate the effort required.
- Share Your Vision: Communicate your business goals and vision to your network to attract support and potential referrals.
- Build a Waiting List: As you approach your ideal client count, maintain a waiting list to ensure continuity and allow for strategic growth or transitions.
Throughout, Garrison emphasizes the importance of relationship-building, proactive marketing, and maintaining a mindset of continuous improvement. He concludes by reminding listeners that building an ideal practice is a journey worth pursuing, one that allows advisors to grow their business and love their life.
Learn More About Can I Borrow Your Car:
https://caniborrowyourcar.com/
Subscribe to the Can I Borrow Your Car Substack:
https://bit.ly/CanIBorrowYourCarSubstack
Connect with Mike on LinkedIn:
https://www.linkedin.com/in/mikegarrisoncaniborrowyourcar/
Buy your copy of Can I Borrow Your Car:
https://amzn.to/3ZeudQV
Email Mike: [email protected]
Call Mike: 540-314-5665