Ep-7: Lifestyle Millionaire Advisor: How Leveraging Buys You Back Your Most Precious Asset - Time

Financial Advisor Lifestyle Practice

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:

1. Mindset and Comfort Zone: Changing deeply rooted beliefs and stepping out of comfort zones are crucial for improvement and efficiency.
2. Calendar Management: Reclaiming and efficiently managing your calendar can significantly impact productivity. Consider hiring an executive assistant to help with this.
3. 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.
4. 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.
5. 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).
6. Kaizen and Continuous Improvement: Constantly look for ways to improve processes, no matter how small. Employee involvement in this continuous improvement process is essential.
7. 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

Subscribe & Follow:

• Don’t miss an episode! Subscribe to the Financial Advisor Practice Podcast on Apple & Spotify.
• Follow us on social media: Here

Feedback & Contact:

• We’d love to hear your thoughts! Leave a review or send us your feedback at [e-mail] .
• Interested in being a guest or have a topic suggestion? Reach out to us at [e-mail] .