How to Tell if You’ve Reached the Tipping Point in Your Practice

Have You Reached the Tipping Point in Your Practice?

There comes a time in every business when your production gets stuck. You are determined to get to that next level of production, but it becomes a struggle.  

This phenomenon can happen more than once for many financial advisors as it doesn’t matter your production level. Some advisors get stuck at the $1,000,000 mark, others can’t get over $500,000, and still, others are stuck in the $250,000 range. While the numbers are different, the problem is usually the same in each case.

I see this happening time and time again. When you get to a point where your business is stuck, you have reached the tipping point in your practice.

When this occurs, the question becomes will you be part of the small percentage of advisors that use this as the tipping point to accelerate growth, or will you use it as a roadblock to achieving the success you want and deserve?

The key to turning this “stuckness” into a tipping point is quite simple but requires a new mindset based on the following:

  • What got you to where you are won’t get you to where you want to be.
  • Now read that again slowly because it’s a critical point.
  • What brought you to where you are won’t get you to where you want to be.

Yet most Advisors continue to think if they keep doing what they did before, they will break through this barrier and get to that next level. So they go back to what worked, heading down the same path, focusing on the same routines and activities that worked before.  

When nothing changes, instead of redefining your strategy, you decide to kick it up a notch, do more of it, do it faster and try harder and the success will come.  

You fail to realize that faster and harder is not the answer. You must redefine a new way to grow your business that reflects where you are today, what you have accomplished, and is more effective at leveraging your proven strengths.

Recommended reading:  5 steps to tipping the scale of your practice so that you move to the next level effortlessly. 

 

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