How can Business Advisors work smarter to boost their income is an issue that has been extensively written about and you will find many volumes written on the subject.
It is even more interesting to look at the real experiences of Business Advisors.
- No Man or Woman is an island.There is no doubt that a single Business Advisor can do well depending on their experiences and contacts but the ability to earn money is limited by the number of working hours in the week multiplied by their maximum rate per hour. Their ability to earn is also limited by the good health and availability of one person which on the face of it is quite risky. It is also a very lonely place which Business Advisors keep telling me about.
One answer is to collaborate with other Business Advisors who can offer complimentary services. This requires you to find people you can work with and trust, but once the structure is in place you can use the structure multiple times and grow it. This will take effort to create but it will create a loop that Advisors can use multiple times.
- TimeTime is one resource that you will always have a limited amount so how do Business Advisors increase their productivity? From my research, there are a number of things that Business Advisors tell me they use in real life.
- Assign time by priority- Assigning priorities to your work schedule is critical. This means only accepting work on the higher value/ longer term clients and avoiding the low value clients. Sometimes you need to say ‘no’.
- Allocate time- Allocating time to each assignment enables the Advisor to identify which assignments create value. Don’t be a ‘Busy Fool’.
- Use templates that you have used already or copy templates that you learn from others. Don’t re-invest the wheel when there exists a tried and tested template that already works.
- Gaol Setting- Set a target for the amount you wish to earn and then work back to a rate per hour you will need to achieve. How much vale will you need to create from collaboration and how much from your own charge out rate. Without a target, how will a Business Advisor know they have succeeded.
- TechnologyThere are many technology tools to help Business Advisors improved their communications but not that many that are effective at helping them to build a network that will help them to earn more.
If you are interested, have a look at a solution that I am passionate about in my profile.