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Pareto Systems is a consulting firm dedicated to fee-for-service professionals. Our practice management and relationship management programs are ideally suited for:
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Proven Strategies Blog

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2020-07-15 • 20 second read

I spoke with a client last week about communication and how they transmit their message and, ultimately, they need a receiver to tune that in. Think of the room you're in right now. There are probably a thousand signals and with the right receiver you can pull anything in. But there is also a signal-to-noise ratio. There's a lot of noise out there. You want people to tune out the noise and really tune into what it is you're communicating.

Everything you say is either a "me too" or a "so what": A "me too" that resonates and stands out and differentiates, or a "so what" that's just part of the noise.

Do you want to make sure your communication stands out? Talk to my team about our Total Client Engagement process and ensure your signal is being received:

2020-07-14 • 6 min video

Elevate the client experience by transitioning to a process driven environment and shift from organic to scalable growth. In this episode, Duncan provides valuable insight into overcoming the ‘red-zone’ of scalable growth to building a truly franchise ready business. 

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2020-07-13 • 20 second read

Remember, you are not marketing to yourself. What matters is how you are perceived and described by your clients. You don't sell insurance. You're not an insurance broker. Risk management is part of your process. You're not selling something, you're building something. You're building financial independence for your clients. You're building advocacy within those clients. You're building enterprise value, not trading your time for money. Don't be your own best-kept secret, relying solely on skills and intentions that a client can get somewhere else. Skills are important, but everything you do is part of your process. Imprint the panoramic process. Make sure your clients can internalize it, that so they can socialize it to others.

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2020-07-10 • 20 second read

Quality introductions are by design, not by chance. Don't leave your rainmakers to their own devices trying to figure out who to introduce to you; tell them. In fact, many of our clients go so far as to show them. When they are in an engaged conversation with someone on the topic of who is a good fit, as an extension of their value proposition, they show a list of the qualities of their ideal clients. Excerpt from The Advisor Playbook

2020-07-09 • 6 min video

When it comes to consistent client acquisition through advocacy, when it comes to fee-worthiness, client loyalty and total client engagement over the lifetime of a relationship, your technical ability and core competency really matters. But when it comes to professional contrast and ensuring that people really understand and appreciate your value, the words matter too.

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2020-07-08 • 20 second read

When you position the concept of a referral as a service you provide rather than as a favor you seek,and then drive it home with your sense of purpose, refer-ability is amplified. You don’t look needy and your value is easy to describe to others.

Excerpt from The Advisor Playbook

Learn more about our proven introduction process:

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2020-07-07 • 2 minute read

Clients should be loyal to a process not just to a person and performance

Stephen Covey, the legendary author of the book The 7 Habits of Highly Effective People, advised that we should always begin with the end in mind. It is for that reason we suggest that you apply a mindset of building a business with the intention of selling it for maximum value at some point in the future.

Your Business Should be Built to be Sold

Even if the thought of selling your business hasn't really crept into your mind, or is a distant vision for many years down the road, it's still a good idea to apply the philosophy of maximizing the equity value in your business on an ongoing basis.

This goes beyond just practice management in the traditional sense. Sure deploying best-practices creates a client experience that generates loyalty and refer-ability. But if you don't document those procedures you are still only trading your time for money. You have a job that ultimately generates an hourly income for you. Don't get me wrong, you can earn a tremendous living that way but you still want to keep an eye on the prize - maximizing the equity value of your business beyond just Trailing Twelve Months (TTM).

Beyond Trailing Twelve Months

The best business is one that earns you a living and builds your legacy. This dual-track stems from creating and deploying predictable, sustainable and duplicable procedures that are documented in a playbook and are consistently implemented. This creates the consistency that your clients crave that insulates them from competitive factors and other issues beyond your control. But the double-win is that when it eventually comes time to sell your business, the suitor realizes your clients are loyal to your process, not just to you and the performance you generate. Additionally, they realize that your procedures have not only created a durable business - he or she can also apply your procedures to their existing business. 1+1 really can actually equal 3.

When it comes to maximizing a business valuation, the buyer wants to ensure continuity through and beyond the acquisition process. When all of your processes are documented in your playbook, and you present a transitional process to professionally communicate with clients well in advance of the transition, predictability elevates. And this applies even if you plan to sell just a portion of your business through a right-sizing process.

The Rule of 3

Every action you do three or more times and that has three or more steps in the process, should be documented in your playbook. Get everything out of your head and the heads of your team members. The benefits of a playbook go beyond just consistency and continuity. The efforts compound over time creating momentum - regardless of who is deploying them. If a business is driven by maverick talent - talented people who operate daily out of their heads - the value is lower than a business driven by the procedures contained in a playbook. Remember, the faces on your team may change over time but the processes remain.

That's not to say that you will always remain on auto pilot after you create a playbook. The Law of Optimization suggests that every process can be refined over time. It's funny, when I ask an advisor "Why do you do things that way?" The answer is often the same: "That's the way we've always done it." They unconsciously drifted into a pattern and then arrived at a set-it-and-forget-it mode. Einstein was right when he defined insanity as being the repetition of an action over time and expecting a different outcome. This explains why many advisors who have been in the business for 15 years really have one year of experience 15 times. Sure they are making a living, but they aren't building a business that is valued for more than the industry average.

Let Pareto Systems help you create a playbook to harness and deploy the true value of best practices. The value of your business will increase and so too will the fulfillment you realize from it.

Continued Success!

Contributed by Duncan MacPherson

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2020-07-06 • 20 second read

Did you know that construction on the Empire State building began in 1930? This was, for a longtime, the tallest building in the world and it was built during a depression. I’m asking you to apply that same vision, confidence and work ethic to your business and build something that stands above the pack, even in periods of uncertainty and volatility.


Excerpt from The Advisor Playbook


Join me at Mastermind and start building:

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2020-07-02 • 36 minutes

In this session Scott reviews all of the things you need to know to run more effective virtual meetings of all kinds. Team meetings, client meetings, strategic partner meetings. Join this session loaded with pro-tips. Watch the replay of his presentation here:

This presentation is pulled from the Pareto Systems' Practice Management eSummit held on May 28, 2020:

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2020-07-01 • 20 second read

Many financial advisors obviously have great intentions, qualities and skills. While these are all important factors, none are proprietary. We want you to professionalize that skillset and every interaction with a process that clients can internalize and buy into.

If you are interested in learning more about our process and working directly with me, click here:

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