The urge to grab any and every piece of business, regardless of size and fit, is powerful. Of course we all want growth, but maybe there is a lesson to be learned from the late Steve Jobs.
I recently read about a meeting Jobs had with Google founder Larry Page in the summer of 2011. Jobs suggested Google stop trying to deliver so many products and just focus on a few. This got me thinking. If a company the size of Apple or Google has limited capacity, what is our ability as advisors to serve a broad range of clients?
The majority of advisory practices attract between one and three high net-worth clients per year. By understanding your clients’ needs better and becoming more relevant in the services you deliver, our experience has shown you can increase that number to between four and 10.
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