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What You Reward Must Be What You Value, right?
by Tony Vidler Perhaps the greatest challenge for practices wishing to grow their people, profitability and professional standards is determining what behaviour to reward. And what you reward must be a reflection of what you really value in your business, right? Why is it that so many firms reward nothing more than a […]
Penny-Pinching IT Madness in Professional Practices
by Tony Vidler Professionals keep getting their fingers caught in the trap of “penny pinching”, and nowhere does this appear to be more prevalent than when it comes to using IT to guard their IP. Everyone has heard the saying: “If you think an expensive mechanic is bad, just try and hire a […]
by Tony Vidler Working with a very good adviser recently who has just taken on staff of his own for the first time in his career he asked me if I could get his new people up to speed for him, as they weren’t quite working out as he would like. They were failing […]
Advisory Firm’s That Are “Going Out Of Business” Without Even Realising It
by Tony Vidler I have a strong sense that a lot of advisory firms are “going out of business” at the moment and don’t even realise it. Markets are going well, and commission and fee rates are still at the high end of the scale, and there are still plenty of consumers using […]
by Tony Vidler More and more advisers are doing joint work with clients and many still haven’t figured out a way to fairly apportion the responsibilities or revenue for long term success. Everyone begins with great intent and all focus is on doing the best they can for a client. Often the bulk […]
Appealing to an Influencers Self Interest (but for good!)
by Tony Vidler An effective method of generating interest with influencers in referring some of their clients to you is appealing to their self interest. It sounds terribly crass when it is said out aloud like that of course, but let’s cut to the chase. Every professional out there makes a living from […]
by Tony Vidler I didn’t use to ask this question, but I do now when contemplating taking on new clients: “I can coach, but are You Coachable?” It’s a tough question perhaps. It is certainly a confronting question at the very least. But is an absolutely necessary question. It is also […]
by Tony Vidler For all the emphasis upon removing conflicts in client fees there is little being said about value-based pricing in professional services, and yet it is a concept which is most likely to match the clients perception of value with the professional’s desire to avoid conflicted models or time-based billing. Perhaps […]
Make your professional designation mean something to clients
by Tony Vidler In a time where so many professionals struggle to identify and articulate their value to consumers I have to wonder why aren’t more professional financial advisers using their designations and qualifications better? Does it mean anything to potential clients? Often it doesn’t. And the reason it doesn’t is because […]
The 4 Key Levers That Create Great Capital Value For A Firm
by Tony Vidler Creating great capital value for a professional services firm is usually one of the owners primary objectives as they more often than not see their business value as a critical part of their own financial independence. Building a profitable business is obviously essential, and it is a more valuable profitable […]