Tips From The Coalface, April 2018
Who are the future leaders of your business?
It’s easy to brush this type of question off. Unless you’re a larger organisation, what does it matter?
Yet many Financial Planning firms have come to the realisation that selling out in the traditional way at the end of their careers won’t work. The well funded potential buyers don’t always share their customer focused values.
The realisation dawns that to exit in a way that does align with your 20 or 30 years of building a client centric business, your best options might be your existing team.
Chris Budd just announced that he’s sold his business to his employees via an employee ownership trust (EOT). I’ve spoken to at least two other firms in recent months who are looking at doing the same.
It’s incredibly exciting.
Who are the future leaders of your business? And what are you doing to develop them?
It feels like a very important issue. Not just for their sake, or for the profession, but for yours.
Creating leaders give you options. Great options. Developing the next generation is an exciting and fulfilling way for you to finish your career. You don’t realise how much you know until you teach it to someone else.
Pass it on.
When you work with FP Advance you work with me, Brett Davidson, directly.
My motto is ‘advise better, live better’ and I practice what I preach. I'm straight talking and get to the heart of an issue quickly.
There's no beating about the bush, just a focus on helping things improve.
Ask my clients - what I teach works.