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How do you know when you have a “great practice”?
by Tony Vidler        I was given this question in the headline recently and the quick answer is:   “When it is delivering the income and lifestyle that you imagined.”   However, that benchmark is perhaps misleading.  It is potentially an incomplete answer as simply obtaining the lifestyle and income that you want from your […]
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5 Tips for selling, or buying, a practice.
by Tony Vidler        There are a number of traps that professionals consistently fall into when selling (or buying) a book of business.   The mistakes are so consistent and prevalent that there is are some golden rules evolving on how to make sure any sale is successful.   The Top 5 are: 1. Get […]
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drop-clients
Anchors away! How to work out which clients to drop
by Tony Vidler         More clients is good, right? How many are enough for a typical adviser though? 1,000? 2,000? 200? And then the plan is “drop some clients, and build it back to up whatever the ideal number is/was with better clients.” Let’s begin by challenging a big myth pervading many practices, being that […]
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ideal-balanced-practice
The Ideal Practice: Balancing Your Needs & The Clients Wants
by Tony Vidler        Heresy: The Professionals’ needs matter as much as the Clients’ wants. It shouldn’t be heresy to say this aloud of course…. But; the ideal practice is one which surely achieves this balance isn’t it?  After all, practitioners are trying to earn a living and meet the wants and needs of their own […]
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practice-development-hurdles
The 3 Barriers To Adviser Business Success (& one can be deadly)
by Tony Vidler        There are 3 distinct barriers every adviser must manage in their career.  Each of them is a defining point which can see the end of the advisory career….but Barrier 3 is where most founders flounder.   Barrier 1 is simply getting enough new business and clients to earn a living and survive […]
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great-practice
This is how a Great Practice is built
by Tony Vidler        To make the transition from being a great adviser with a good job to a great adviser with a great practice there are a number of key decision points and areas which have to be done well.  Get them right, and in the right order, and a great professional practice is […]
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invest-in-you
Why Advisers Need To Invest In Their Businesses, Now
by Tony Vidler        For most of my advisory career there has been a very real opportunity for advisers to operate “lifestyle” businesses.  It has enabled them to largely choose when they will work; who they will work with; and how much they will earn.  It has cost little to run and required virtually no […]
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grow-people-grow-business
The 6 Steps To Growing Your People
by Tony Vidler        Introducing leverage into a professional services firm is most often done through adding people, and growing the people leads to growing the firm.   Finding and developing the right people is one of the greatest challenges for professional services firms, and also one of the greatest opportunities it has for creating […]
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out-of-business
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 […]
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uber-your-practice
“Uber”-ise a good practice into a GREAT business
by Tony Vidler        The million-dollar-question (literally!) is:   “How do I go about leveraging a good professional practice into a great commercial enterprise?”   Answer: Uber-ise it.   The inherent assumption in this question is that one already has a good professional practice, so let’s take that as a given for this discussion.  (If […]
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