The outcome of any action is dictated by its context. What do we mean when we say that? Take watering flowers in your garden as an example. While diligently watering throughout the hot summer protects your plants from drought, dumping cold water on your roses in the middle of winter will likely lead to a frosty death. Watering your plants is good, but it needs to be done at the right time in the right way to keep them blooming year to year. What does this have to do with your business? Listen to this episode to find out!

Growth is a double-edged sword. On one hand, it elevates your business and bolsters revenue. But on the other hand, it requires a change in process, procedures, personnel, and more to get it right. Most people focus on the positive aspects of growth without leaning into those difficult methods and systems that allow the business to sustain that type of increase. When we completed our merger, we combined two similar firms. At the start, both firms thought that they did things a little better than the other. But this is where the fun, and stress, started. It became time to make decisions on how to blend these two unique, yet comparable firms. Today, we are going to take you behind the scenes of the merger to illuminate the power and peril of decision making in business.

A compensation philosophy is a major aspect of any organization. The way that you pay your staff exemplifies the values you believe in, the behaviors you want to incentivize, and the mission that guides you. Last time, we discussed our general compensation philosophy and how we have come to structure our compensation packages. To re-cap, we pay salaries at market average with a built-in bonus structure to incentivize exceptional performance and results. Our compensation model doesn't just dictate how our staff gets paid, it also lays the groundwork for an advisor's career path and future at the firm. Today, we are going to focus on the unique way that we pay our advisors. We will touch on everything from what didn't work, to how we came to the process we have in place now.

Payday. The day famous for workers' satisfaction, kicking back and reaping the rewards of your hard work. This is the day that employees walk a little taller (and might try to leave a little earlier.) We are just being facetious, of course. How a company pays employees is an important discussion and one that can get a little complicated. We don't think it needs to be that way. We believe that compensation is the primary driver of behavior in the workplace. And if people can't understand how or why they are paid, they probably don't understand what they're supposed to be doing, because we all know compensation drives behavior. Today, we want to untangle the mess of payroll and give you insight into how to pay your people.

How many times did a parent figure chastise you by saying "the world doesn't revolve around you." That was a touch thing to hear as a wanna-be grown-up teen, but its sentiments extend far beyond the days of bad skin and racing hormones to the modern work-force. So many advisors set up their practices in a way that is best for them. And while that might make sense on the surface, it exposes a big problem underneath like a gorgeous house with a crumbling foundation. Today, we are going to share our secrets for a successful transition from an advisor-centric practice to a client-centered one. Let's dive in!

A good business model starts by effectively positioning yourself to serve your clients in the best way possible. But in order to deliver that 5-star service, you need talented, dedicated employees. One challenge any growing financial business faces is recruiting and hiring the right people. Everyone makes mistakes in the hiring process, but there are some tried and true points to help you make the best choice for your firm, and most importantly, your clients.

In business today, we talk a lot about hats as representations of the roles we assume in our day-to-day lives. A business owner, for example, might say that they wear many hats from client growth to marketing to service to speaking to operations and more. Founders today wear too many hats. When you are trying to run your HR department, head client service relationship and management, run your own investment department and more, the hats will start to weigh you down. Today, we are going to look at a few ways to consolidate those hats to the most important and how to effectively manage that shift.

Leverage is more than a buzzword flitting around the business sphere. It is an important tool to help you create a clear and cohesive client experience, which you should know by know needs to be your top priority.  One of the things you have to learn to leverage in your business is the roles and responsibilities of your team members who are in client service roles like paraplanners, client care coordinators, and more.  Today, we are going to dive into these important roles and illustrate how to best leverage these roles to enhance your client's experience and ultimately promote business growth. Ready for more? Dive into this week's episode.

Many of our readers are familiar with Stephen Covey and his book The 7 Habits of Highly Effective People. There are so many lessons to be derived from its pages and wisdom to absorb. One lesson that comes to mind is found early in the book: begin with the end in mind or the habit of vision. We are going to talk about the habit of vision and how it applies to one of the most ubiquitous, ambiguous, and broad elements of our field: technology. Every firm needs to find, implement, and manage the right technology to increase productivity and define the user experience. But how can you find the right technology for your firm? In this episode, we dive into the three crucial elements of finding the right technology stack.

Why can't you get a burger and a beer at Starbucks? In short - if Starbucks wanted to sell beer and hamburgers, they would have built their business model (mission, goals, processes, systems, marketing) around that goal. But that wasn't the decision that Gordon Bowker, Jerry Baldwin, and Zev Sigel made back in the 1970s. They decided, intentionally, to be in the coffee business. That dedication, rigor, and quite frankly master of scaling the business has led Starbucks to be the largest coffee house in the world. What can the rest of us in wealth management and financial planning take away from this example? Listen in on this episode to find out.