Starting your Business? Forget about the money…..

3 Reasons starting your own business or having equity will benefit you, more than just the money!

For most people starting your own business is a huge psychological hurdle filled with fear and trepidation, and like a lot of things in life, we don’t know what we don’t know. There are many tough questions:

• Am I good enough to be successful?
• What will my family and friends think?
• Can I survive without the regular salary I now receive?

This is just a sample of the many questions that will run through your mind, and all very valid.

When you step out and start your own business the reality is often a positive surprise. Here are 3 common things that occur on this journey, based on discussions with dozens of Advisers and other business people I know over many years.

1. Your clients will love you for it.

There is a swift and immediate change in many client relationships because you are now the person making all the decisions. You have taken full responsibility for the service they receive and empowered the relationship; they will respect you and trust you even more.

 2. You will go on a journey of self discovery never before experienced at this depth. 

Very quickly you will be acutely aware of your strengths and weaknesses, likes and dislikes, and the reasons you chose to provide advice in the first place. Your passion will rise to the top and ability to articulate the value of your service will multiply significantly – your clients are now “your clients”.

A friend and great business coach in the Financial Planning Industry summarised part of this to me years ago...

"You will learn more about yourself in the first 3 months than you knew previously" David Carney

 3. You will experience a heightened sense of purpose and fulfilment.

No matter during the first few months that any client is a good client, and you will nervously await the first cheque in the mail (account), you have taken control. Sitting with little money in the business account can be a concern, BUT - you will feel liberated that you are on a journey of your choice, and doing it your way. You are now building your own castle!

So forget the money or short term gain, it is not ALL about  that.

The journey is about genuine “trusted Adviser” relationships, self awareness and growth, and the great passion that can only be attained when you are doing something with a greater purpose.

You will be energised to a new level, those you encounter will find you more passionate and engaging.

Remember, the hardest path is often the most rewarding.

Is it time you started asking yourself the tough questions?

If your looking to make a start contact us to discuss options around shared services or joining an existing practice. You can check out our jobs page for some ideas. We can also provide business planning templates and more.

Recruit 2 Advice has specialised in career development for Financial Planners since 1998. We work with leading Licensees and Boutiques to assist bank and institutional Advisers establish their own business, acquire equity stakes, or participate in succession plans.

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