Stage 2 Solution Blog

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When Things Go Wrong –Taking On A Bad Client

Posted by Josh Patrick

Jan 20, 2015 9:00:00 AM

Ideal CustomerWe’ve all done it; we’ve taken a client who we knew we shouldn’t have taken.  And, once that customer is onboard, we just don’t want to let them go.

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Topics: chief revenue officer, ideal customers, client management

Wealth Managers Should Think About Selling To Their Employees

Posted by Josh Patrick

Jan 6, 2015 9:00:00 AM

business_exit_planningI spend lots of time talking to owners of wealth management firms like you who aren’t sure how they’re going to leave their business.  You might think that you want to sell your firm to an outsider….someone who can pay you lots of cash.  You also might find that after a conversation with someone like me you realize your business isn’t going to get you the cash you thought.

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Topics: RIA wealth management, exit planning, business ownership

Are You Ready To Start Your Wealth Management Blog?

Posted by Josh Patrick

Dec 30, 2014 9:00:00 AM

blogsI’ve been blogging on a daily basis for almost seven years now.  First, I started with a blog about my adventures in cancer world.  After seven months of writing about my treatment I branched off to start writing about what creates value in a business.  Six months ago I took another turn in my blogging and started writing specifically to you, the owner of wealth management firms.

You might notice that there is a pattern to what I’ve been writing about.  And, that’s the topic of this blog post.

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Topics: inbound marketing, wealth management firms, blogging

Are You Sabotaging Your Reputation?

Posted by Josh Patrick

Dec 23, 2014 1:14:00 PM

company_repWell, you might not think that you’re not sabotaging your reputation.  If so, are you making your reputation stronger in your community?  Or, are you actually sabotaging your reputation by doing nothing to manage it?  Both of these are issues I’m hoping you will at least think about.

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Topics: wealth management firms, client management, reputation management

3 Little Ideas That Will Make You Love Your Work

Posted by Josh Patrick

Dec 19, 2014 9:00:00 AM

loveWe all spend too much time at work.  Or, that’s what everyone else in the world tells us.  My observation has been that we’re spending more and more time working and for lots of people I know they enjoy it less.

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Topics: colleagues, work environment, enjoyment

What Would Happen If You Treated Clients As Experts?

Posted by Josh Patrick

Dec 16, 2014 9:00:00 AM

clients_are_experts-1I bet you think you treat your clients with respect and I’m sure you do.  The real question is do you recognize and appreciate your clients for the expertise they have.  Specifically I’m talking about expertise in what makes their lives better.

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Topics: advising, client management, client servicing

What Would Happen If Your Firm Was Really Different

Posted by Josh Patrick

Dec 12, 2014 9:00:00 AM

riskHere’s a problem I see.  Most wealth management firms sound like every other wealth management firm.  If you were to line up five really good wealth management firms and look at their websites, you would have a hard time figuring out what the difference is between them.

If you ever think that you wished your firm really had a significant difference from your competitors read on.

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Topics: creating value, chief revenue officer, wealth management firms

Revealed: A Behind The Scenes Peek At Building A Moat

Posted by Josh Patrick

Dec 9, 2014 9:00:00 AM

moatsI love the concept of moats.  A moat is really simple.  It’s what makes it difficult for your competitors to horn in on your clients….or those who should be your clients.

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Topics: creating value, client advisory board, moat

5 Reasons You Don’t Want To Sell Your Firm

Posted by Josh Patrick

Dec 5, 2014 9:00:00 AM

no_to_sellingI recently wrote about a strategy I call the wind down.  This is where you don’t sell your firm.  Instead of selling you give away the bottom 80% of your clients and you go from working full time to part time.

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Topics: management, career choices, exit planning

How To Create A Blog Entry In Twenty Minutes

Posted by Josh Patrick

Dec 2, 2014 9:00:00 AM

Blogging_101You’ve probably figured out by now that I strongly believe you should have a blog on your wealth management website.  You probably also know that if you have a blog it’ll give your website visitors a reason to come back and visit.  You also know that if you start to show off your expertise you’ll make it easier for potential clients and CIO partners to do business with you.

Since you already know all of these things why aren’t you blogging?  I bet the reason is because you don’t think you have the time.  What if I showed you a method that you allows you to write a blog entry in twenty minutes or less.

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Topics: inbound marketing, RIA wealth management, blogging

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