In the delta between where you are now and where you want to be lies the nexus of your future
There’s no doubt we have seen a dramatic shift in the industry – the transference of power from the firm to the advisor – yet many advisors still find themselves “lost”. Unsure of how to answer the question, “Should I stay or should I go”, they’re feeling metaphorically handcuffed to their current firms, regardless of the outsized incentive packages being offered by competitors and the ever-growing variety of options that exist in the independent or alternative landscape.
The fact of the matter is that most advisors are left in a world of uncertainty not because they don’t have a clear picture of their options; in most cases, they feel stuck because they don’t have a clear vision for their own future. Put another way, they have not defined their own personal and business goals, and are looking only at where they are right now—rather than considering that other opportunities exist that could provide for a future that is better aligned with their goals.
So while most change comes when the pain becomes unbearable, it doesn’t have to be that way. You can certainly start educating yourself on the options—and there are plenty of articles written and consultants available that can help you with that part. Though, more importantly, you need to take a hard look at what you are doing now and what you want to be doing — so you can identify the delta between the two, and assess what changes you’re willing to make in order to bridge the gap. It’s about determining if there are options available that might better align with your specific needs, goals and desires. In that nexus is where you’ll find what I call your “Best Business Life.”
The key to realizing your needs, goals and desires lies within the answers to the following questions:
- Who/what do I value most in my life?
- What are my goals?
- Do I have what I need today or do I want more?
- Does where I sit today support my values, goals and desires?
- What changes am I willing to make to fill the gaps?
- Do I have the right team/support both at home and at work?
- Do I play the right role in my business and life?
- Who will carry on my legacy?
- How do I get from here to there?
- What changes am I willing to make in order to get from here to there?
Establishing what’s most important to your life’s work – including the value you place on control, flexibility, freedom and ownership versus a big brand name and established support systems – is what will help you to eliminate the inertia that might be making you feel uncertain and allow you to weigh the value of the options available to you. Truth be told, determining that where you now sit may, in fact, be the ideal place to run your business is a perfectly valid decision. Or you might find that greater flexibility and freedom are really what you’re looking for, prompting a search for another option.
Regardless, living in a land of uncertainty is extremely self-limiting. It’s time to define your nexus and start living your “Best Business Life.”
