Ep-7: Lifestyle Millionaire Advisor: How Leveraging Buys You Back Your Most Precious Asset - Time
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In this episode of the Financial Advisor Lifestyle Practice Podcast, host Rafi Shaikh discusses how financial advisors can leverage systems, processes, and technology to reclaim their most valuable asset: time. Rafi emphasizes the importance of mindset shifts, efficient calendar management, and the implementation of standard operating procedures (SOPs).
Key Points:
- Mindset and Comfort Zone: Changing deeply rooted beliefs and stepping out of comfort zones are crucial for improvement and efficiency.
- Calendar Management: Reclaiming and efficiently managing your calendar can significantly impact productivity. Consider hiring an executive assistant to help with this.
- Processes and SOPs: Developing and documenting processes and SOPs can prevent business breakdowns and enhance overall efficiency. These should cover client interactions, service delivery, and internal operations.
- Technology and Automation: Utilizing technology and automation can streamline tasks and reduce time spent on manual processes. Integrate tools that address your practice's specific pain points.
- Learning from Toyota: The Toyota Production System (TPS) is highlighted as a model for continuous improvement and efficiency. Key elements include Just-In-Time (JIT) inventory and automation with human touch (Zidoka).
- Kaizen and Continuous Improvement: Constantly look for ways to improve processes, no matter how small. Employee involvement in this continuous improvement process is essential.
- Actionable Items:
- Schedule a quarterly offsite planning session to design an ideal week calendar with ample buffer times.
- Hire an executive assistant to manage your time and repetitive tasks.
- Audit your calendar to eliminate unnecessary meetings and renegotiate or shorten less priority ones.
Resources Mentioned:
- Join our community of like-minded advisors on LinkedIn Here .
- Grab your copy of the book " The Advisor Authority Book Framework" Here
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Feedback & Contact:
- We’d love to hear your thoughts! Leave a review or send us your feedback at podcast@peacefuladvisorlifestyle.com .
- Interested in being a guest or have a topic suggestion? Reach out to us at podcast@peacefuladvisorlifestyle.com .
15 episodes