Casual Articles
#1 in Business Subscribe Email Print

You are here: Home > Business > Strategic Planning > Maximizing the Value of Your Business at an Independent Broker Dealer (Beware the B-Myth)

Tags

  • voice
  • wondering
  • everyday
  • system which
  • youre tired

  • Links

  • First-Time Buyers - Take That First Step With A Spanish Property
  • Managing Poor Performance with Consequences
  • Two Very Different Celebrations of Light - part 1 Hindu Diwali
  • Casual Articles - Maximizing the Value of Your Business at an Independent Broker Dealer (Beware the B-Myth)

    Million Dollar Words, or Words That Sell
    The sales counter plays a dual role as a call center and storefront, and is thus undoubtedly the voice of a wholesale distributor. This means that, for a counter pro, whether face to face or over the phone, communication skills are critical. The frenetic energy—with phones ringing, intercom paging, and customers waiting—can test the patience of even the most even-tempered employee. It requires extra effort to keep stress from stealing into the voice. A frazzled tone translates as annoyance and impatience. Yet, the counter pro who has mastered this extraordinary instrument can just as easily transmit enthusiasm and empathy.Inflection is key. Consider the importance of inflection in the commonly used expression “not bad.” Downplay the first word, emphasize the second, and it sounds like an upbeat compliment
    e way you want it to be. Don’t be caught up in “The B Myth.”

    The B Myth is my terminology for the situation where a broker, financial planner or investment adviser is under the illusion that he has a “business” when in actuality all he really has is a job. As John Bowen, a senior consultant in this area, says, “If you build a system which revolves around you, it is difficult to transfer the busine

    The Many Benefits of a Free Standing Smoking Shelter
    A ban on smoking means that smokers all over the United Kingdom are being forced outside in order to smoke. This can cause a smoker to be quite unhappy when the weather decides to act badly. No longer can one sit inside, watching the snow fall outside, on a cold and windy day as they enjoy a satisfying cigarette. To make the ban more pleasurable for smokers it is a good idea to invest in a free standing smoking shelter. It will help protect you and your friends from the elements while you enjoy a couple smokes.These smoking shelters have been uniquely designed for easy smoking access and the dispersal of finished cigarettes. These structures are comprised of the highest-quality of raw materials on the market today. The use of these materials ensures that this smoking shelter will be able to withstand the
    Changes, changes, changes. You can’t pick up a Wall Street Journal on a given day without finding that one company has been bought by another. Most of the time you can’t pick up one of the trade magazines in our business without finding that an independent broker-dealer has been bought by another independent broker dealer or an RIA has been bought by another RIA.

    All this activity has to make you wonder: Why are all these people doing this? Are they trying to get their equity out of the business? Are they trying to preserve their businesses for a loved one? Are they trying to derive some economies of scale and some synergy by joining forces? Are they trying to gain some strength to protect themselves from the competitive onslaughts that are coming from every direction in the independent broker dealer, financial planning and investment advisory arenas? Yes, probably all of these reasons and many more.

    Your independent broker dealer has a business. Do you? Maybe you do. Maybe you don’t. Maybe you just think you do! Maybe you’re wondering what you should be doing with this work area to which you report to every morning, this gaggle of clients that depends on your every move, these employees who support you on a day-to-day basis. Maybe you’re tired and want to slow down. Maybe you’re just burned out from dealing with the everyday hassles. Maybe you’re excited about your work and want to see it grow. Maybe you’re looking for a sensible and profitable exit strategy. Whatever your scenario is, start thinking about your practice and make a conscious decision about whether it is positioned the way you want it to be. Don’t be caught up in “The B Myth.”

    The B Myth is my terminology for the situation where a broker, financial planner or investment adviser is under the illusion that he has a “business” when in actuality all he really has is a job. As John Bowen, a senior consultant in this area, says, “If you build a system which revolves around you, it is difficult to transfer the busine

    A New Lease in Productivity and Financial Fulfillment
    More and more people are flocking to the franchise concept as a means to achieving financial success without climbing the corporate ladder. This is not really surprising as today’s competitive job market is getting harder and harder to enter. Moreover, the globalization of economies, jobs among other things has taken out much of the security and reliability of jobs in the market today. Today, you’ll never know if you are going to be replaced by machines or software capable of doing the job you do and as companies expands and preens on the stock market, layoffs and retrenching has become an acceptable way of streamlining operations.It is not just the new graduates who are victims of this ongoing trend, even employees of long service to their companies are finding themselves out in the streets looking fo
    onder: Why are all these people doing this? Are they trying to get their equity out of the business? Are they trying to preserve their businesses for a loved one? Are they trying to derive some economies of scale and some synergy by joining forces? Are they trying to gain some strength to protect themselves from the competitive onslaughts that are coming from every direction in the independent broker dealer, financial planning and investment advisory arenas? Yes, probably all of these reasons and many more.

    Your independent broker dealer has a business. Do you? Maybe you do. Maybe you don’t. Maybe you just think you do! Maybe you’re wondering what you should be doing with this work area to which you report to every morning, this gaggle of clients that depends on your every move, these employees who support you on a day-to-day basis. Maybe you’re tired and want to slow down. Maybe you’re just burned out from dealing with the everyday hassles. Maybe you’re excited about your work and want to see it grow. Maybe you’re looking for a sensible and profitable exit strategy. Whatever your scenario is, start thinking about your practice and make a conscious decision about whether it is positioned the way you want it to be. Don’t be caught up in “The B Myth.”

    The B Myth is my terminology for the situation where a broker, financial planner or investment adviser is under the illusion that he has a “business” when in actuality all he really has is a job. As John Bowen, a senior consultant in this area, says, “If you build a system which revolves around you, it is difficult to transfer the busine

    3 Steps to Creating A Knockout Corporate Logo For Dum Dums
    A corporate looking logo can effectively make you look far more important than you actually are. By adopting this simple 1,2,3 step guide we can turn your existing crummy logo into a world beating effort - garaunteed to impress the ladieees.Step 1 - Choose a dull font such as helvetica In the world of high flying executives and corporate back slapping deals done upon yachts etc. the one thing almost all self-made millionaires will agree on is that you must give the impression that your company is a straightlaced solemn outfit. Standard fontfaces such as helvetica or times will signify your ability to fit in with suits without ruffling too many feathers and will be looked favourably upon by those all important investors looking to harvest some of their cash in your business.Step 2 - Choose a du
    dealer, financial planning and investment advisory arenas? Yes, probably all of these reasons and many more.

    Your independent broker dealer has a business. Do you? Maybe you do. Maybe you don’t. Maybe you just think you do! Maybe you’re wondering what you should be doing with this work area to which you report to every morning, this gaggle of clients that depends on your every move, these employees who support you on a day-to-day basis. Maybe you’re tired and want to slow down. Maybe you’re just burned out from dealing with the everyday hassles. Maybe you’re excited about your work and want to see it grow. Maybe you’re looking for a sensible and profitable exit strategy. Whatever your scenario is, start thinking about your practice and make a conscious decision about whether it is positioned the way you want it to be. Don’t be caught up in “The B Myth.”

    The B Myth is my terminology for the situation where a broker, financial planner or investment adviser is under the illusion that he has a “business” when in actuality all he really has is a job. As John Bowen, a senior consultant in this area, says, “If you build a system which revolves around you, it is difficult to transfer the busine

    Packaging Labels
    Packaging labels are used on each and every product - both retail and wholesale. The importance of the right kind of packaging labels for retail products is evident from the fact that it is the packaging label that catches the consumer's eye. The packaging label can actually make or break a sale.Most manufacturers who deal in packaging labels carry a ready stock of various sizes of blank labels, adhesive and any other required paraphernalia. Product manufacturers usually get their product labels designed by specialists in the advertising field. A template is prepared and handed over to a packaging label manufacturer who then does the needful. Some packaging label companies offer innovative labels. By choosing such labels product manufacturers can do away with the cost of getting packaging labels designed.
    s who support you on a day-to-day basis. Maybe you’re tired and want to slow down. Maybe you’re just burned out from dealing with the everyday hassles. Maybe you’re excited about your work and want to see it grow. Maybe you’re looking for a sensible and profitable exit strategy. Whatever your scenario is, start thinking about your practice and make a conscious decision about whether it is positioned the way you want it to be. Don’t be caught up in “The B Myth.”

    The B Myth is my terminology for the situation where a broker, financial planner or investment adviser is under the illusion that he has a “business” when in actuality all he really has is a job. As John Bowen, a senior consultant in this area, says, “If you build a system which revolves around you, it is difficult to transfer the busine

    New Product Launch -- Questions to Ask Before Going Live: Part 2
    In our last segment, we spoke about the first six of twelve questions you should ask yourself before "going live" with your product launch. Here are the final six.7) Have you priced your product or service competitively?Not too high, not too low. The price for which a product is offered may determine the perceived value by the customer. If you underprice your product, it is entirely possible that your customer will decide that the product is not worth purchasing. If you overprice it, you may not get the sales you want. Here's the solution: test different prices. Keep the one that results in the most sales.8) What are the growth and "back-end" sales possibilities?Can you sell the same
    e way you want it to be. Don’t be caught up in “The B Myth.”

    The B Myth is my terminology for the situation where a broker, financial planner or investment adviser is under the illusion that he has a “business” when in actuality all he really has is a job. As John Bowen, a senior consultant in this area, says, “If you build a system which revolves around you, it is difficult to transfer the business to anyone else. You own a job, and it’s hard to sell a job.” Yes, I know. When you went in the financial services business someone told you that “you were in business for yourself, that you were building something for yourself.” In truth, that’s what you may have done -- built something for yourself -- which nobody else wants because it has little or no value to anyone but you. Beware the “B Myth!”

    Some of you may be asking yourselves, “Haven’t I heard of this B Myth before?” Well, actually my concept is borrowed from one outlined by author Michael Gerber in his best-selling books, The E Myth and The E Myth Revisited and applied to our industry. The sad fact is many financial planners and financial advisers with independent broker dealers are suffering from the illusion that they have a business. In fact, what they do have is an unreliable stream of income, a lease, some employees, a group of clients, some commercial software, and some fixtures and equipment worth only 25 cents on the dollar.

    The reality is this: The stream of income is a mixed bag of financial planning fees you generated, commissions you generated, and a slice of RIA fees that is growing slowly and is dependent upon your efforts to sell the client on this way of doing business. Your assistants or employees may not know what to do unless you are around to tell them and might scatter to the wind if they thought the business was for sale. Your clients think you walk on water because you have convinced them that you are what is indispensable rather than the advice they receive. In this scenario, hopefully you have be

    HTTP = HTML link (for blogs, profiles,phorums):
    <a href="http://www.casualarticles.com/article/44887/casualarticles-Maximizing-the-Value-of-Your-Business-at-an-Independent-Broker-Dealer-Beware-the-BMyth.html">Maximizing the Value of Your Business at an Independent Broker Dealer (Beware the B-Myth)</a>

    BB link (for phorums):
    [url=http://www.casualarticles.com/article/44887/casualarticles-Maximizing-the-Value-of-Your-Business-at-an-Independent-Broker-Dealer-Beware-the-BMyth.html]Maximizing the Value of Your Business at an Independent Broker Dealer (Beware the B-Myth)[/url]

    Related Articles:

    Merger And Acquisition Companies

    Leadership: Why Won't They Do What They're Supposed To?

    Effective Presentations - What to Do With Your Hands

    Bookmark it: del.icio.us digg.com reddit.com netvouz.com google.com yahoo.com technorati.com furl.net bloglines.com socialdust.com ma.gnolia.com newsvine.com slashdot.org simpy.com shadows.com blinklist.com