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THE GRAND WHY?

THE GRAND WHY?. Finding Meaning in my Work. . There has to be a point to all this stuff that I do!. So what is the point?. Why am I an Adviser?. What other jobs have I ever had? Why aren’t I still working in those jobs? What do I like most about my business?.

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THE GRAND WHY?

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  1. THE GRAND WHY? Finding Meaning in my Work.

  2. There has to be a point to all this stuff that I do!

  3. So what is the point?

  4. Why am I an Adviser? • What other jobs have I ever had? • Why aren’t I still working in those jobs? • What do I like most about my business?

  5. Why am I in Business? • What am I trying to achieve to benefit myself and my family? • What am I trying to achieve to benefit my clients?

  6. Why am I an Adviser? • Cliché Responses $$$$$$$$ You’ve gotta do something. I just fell into it. Keeps me off the streets/grog.

  7. Why am I an Adviser? Deeper Responses • To look after my clients. • To help people create, protect and pass on wealth. • Get people financially well organised. • To bring peace of mind.

  8. Why am I an Adviser? Spiritual Response • What do people always get from me? • What have I always done? • What comes so naturally to me that I don’t even think that it’s unique or rare? • What do I have trouble receiving from others? Warning - Not for public consumption.

  9. Why am I an Adviser? My Spiritual Intent TO…

  10. So that’s what it’s all about!

  11. Top 10 Reasons to Run My Own Business There must be some reason why some 600,000 new businesses are founded each year, right?

  12. 1. I Control my Own Destiny It saves me from having to work for anyone else. I get to direct the culture of my company. When I worked for the bank…

  13. 2. I Can Find My Own Work/Life Balance • I get to spend more time with my partner and kids. • I get to spend time on myself.

  14. 3. I Choose the People I Work With • I get to make the decisions about who to hire and fire. • My staff care about me. • I surround myself with positive people who give me the confidence and optimism I need to keep moving forward.

  15. 4. I Take on the Risk – And I Reap the Rewards • There's no question that owning your own business is a risky proposition. But, with risk comes reward. • The most fun is to work on a project for several years with my team, overcoming all of the obstacles, and then enjoying the success.

  16. 5. I Can Challenge Myself Each day is filled with new opportunities to challenge myself, be creative and learn something. Every day, I learn something new about the act of owning a business, and keeping it on track.

  17. 6. I Can Follow My Passion • I have so much fun at work. • I made a conscious choice to make a living doing what I love. • I figured I'd spend more hours of my life working than anything else I'd ever do, so why not make it my passion?

  18. 7. I Can Get Things Done – Faster • I have an allergy to red tape. • I salivate at the chance to get things done. • Never underestimate the ability to truly be proactive.

  19. 8. I Can Connect With My Clients • As a small business owner, I thrive on dealing one-on-one with my best clients. • I can make the decision to get rid of those customers that I don't like. • In the bank, I had to abide by the mantra of, 'The customer is always right' and there are some rare instances where that is complete BS!"

  20. 9. I Can Give Back to My Community • I help by donating to charities. • I take great pride in knowing that I'm solving a problem others have and creating opportunities for people to have jobs that they love.

  21. 10. I Feel Pride in Building Something of Our Own • There is nothing like being successful through your own leadership, abilities, ideas and efforts. • One really cool thing about owning a small business is that people are interested in you and your story.

  22. Why am I Valuable? • I am a Trained Professional. • Walk like one, talk like one.

  23. My Professional Domains of Knowledge • Lifestyle Benefits • Provider Selection • Debt Restructuring • Defined benefit interpretation • Cashflow Management • Tax Management • Life Insurance • Maximising Government Support • Financial Education • Goal Setting • Budgeting From FPA Study Paper – Value of Advice

  24. My Strategic Differentiators • Setting strategy requires a good understanding of many aspects of personal finance, including: • Taxation laws, particularly those relating to capital gains tax and superannuation • Social security rules • Expected long-term returns and volatility from various asset classes • Estate planning • Asset and income protection • The role of trusts, companies and partnerships • Personal budgeting • Family law, especially where assets require splitting • Structured philanthropy Chris Cuffe in ‘Cuffelinks’

  25. Perception of Value– US Industry Feedback • To know how to think about their problems – all of them. • They want a greater sense of direction, confidence, and capability in all areas of life. • They want financial solutions to be part of much larger lifetime solutions. • They want everything based on their D.O.S – not the adviser’s need for commissions.

  26. Perception of Value • They want advisers independent of Bureaucratic dependencies. • They want advisers whose finances are independent of commodity sales – and commissions. • They want advisers who can construct a lifetime plan for them.

  27. My Value Proposition • Value = Product/Service + Image + Relationship • Your task is to remove financial uncertainty from your client.

  28. Pricing and Packaging my Services • I get paid what I think I’m worth, not what they think I am worth. • People value what they ask for and pay for, not what you give away for free! • Standards and Extras. • Stop giving away the lolly shop!

  29. Standards & Extras Do an extra more that twice and it becomes a standard!

  30. How Much do I think I am Worth?

  31. Are there Enough Clients out there? • Australian population will grow by 70% in next 50 years. • Over 55’s will make up 15% of population by the end of this decade. • Superannuation will grow by 135% in next decade. • There are already over 210,000 HNW clients in Australia. ($1m assets plus house)

  32. So What? • Keep playing park footy or get into the BIG League?

  33. Scope of Work • Price the following case study. • Bruno 63 - Sharon 48 - Ex wife Nellie • Owns pyrotechnics company – Partner with his brother – 12 staff • Kids- Alvin 30-Married, 3 kids, Lawyer Theodore 28 - Single – Doctor Sharon 26- De Facto r’ship with rock singer • $2m in SMSF - $1.5m in shares – Family home ($1.7m) – Part owner Ski Lodge in NZ • Simple will – Unsure POA’s • Trust – Nellie is appointor • Business loan - $700k

  34. Physical Challenge • My challenge to you – • 3 x Breakthrough Price Sales per quarter. • 1 x Dream Price Sale per Year.

  35. WHY? • Because my clients are lucky to have me in their lives. • Because I am a Professional, well trained, smart and ethical. • Because I do really care about my clients. • Because I deserve to be wealthy in my own right. • Because financial success makes my family safer. • Because I am lovable, capable and valuable. • That’s WHY!

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