If you missed my last post: Everything changes … will your practice keep up? The world around us is changing, but our BVFLS practices are not. For example, most of these Covid-impacted months have been used by BVFLS cognoscenti to tell us how to refine the technical stuff we already do. Things like Covid-impacted projections, Covid-impacted cost of capital, and Covid-impacted DLOMs.
We should always be focused on doing things better. But not at the expense of doing things differently. Because what about the bigger picture? Like the direction of your practice as a result of these Covid-impacted times! For example, are traditional BVFLS services the only thing you will ever offer? Ever?
On to this week: Here’s the backdrop: It’s mid-November, and there is a decision we all face this time of year because of the combined effect of the holidays and year-end. That decision: whether to apply the brake or the accelerator to our practices.
I get it. Thanksgiving is just around the corner … then holiday parties if you’re up for in-person gatherings these days … then holiday shopping … then Christmas … then the down week between Christmas and New Years … then New Years … and we don’t come back to work until Monday the 4th.
But in the blink of an eye, we can easily “lose” 5-6 weeks … and it’s easy to justify because we think there’s nothing we can really do.
You can probably guess that I believe the better decision is to apply the accelerator … and there are 3 specific accelerators I would like you to consider.
#1 – Hunt for new clients through year end
#2 – Provide value to existing clients through December
#3 – Preload the new year
That last one – preloading the new year – is really important … it’s the title of this video after all!
Because if you’re like most BV peeps, you’re rounding the corner a little dazed and confused. Some of you had great years and are reeling from your version of crazy busy. Others of you have not had such great years and are wondering what happened – and what has to happen – in order to turn things around.
Either way, you feel like you deserve a break … a few weeks of downtime.
But when you come back to work on January 4th, it’s going to take you a week or so to get your mojo back … so more lost time. Then, you realize you need a plan for 2021, and instead of making concrete progress on your practice, you’re planning – in January – how you’re going to make that progress. You end up spending opportunity time planning when you could be hitting the ground running and, frankly, smashing it!
So to get a jumpstart on that third accelerator, here is a challenge for you: Can you write a plan for your next year on a single piece of paper?
If not, then your plan might be too complex. And I have a 1-page solution for you.
Watch the video, learn more about the 3 accelerators, and get your 1-page plan from me.
Thanks for reading this far.
And for your kindness and generosity.
I’ll be back on December 2.
PS – Whenever you are ready, here are 4 ways I can help you build/grow your BVFLS practice:
1. Join Practice Development ROUNDTABLE
It’s a Facebook community for BVFLS professionals who are collaborating on how to turn the practices they have into the practices they want.
2. Download this Find Your Niche infographic
The riches are in the niches, as they say. But what’s missing is a process that can help you identify your niche. This infographic is the missing process.
3. Take a free Practice Self-Assessment
I have 10 quick questions, and your answers will help you get a sense of how well your practice is working for you.