Are You Smarter Than A Fifth Grader? Many Advisors Probably Are Not

Thursday, May 05, 2011 22:33
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Are You Smarter Than A Fifth Grader? Many Advisors Probably Are Not

Tags: business planning | managing | marketing | niche management | Offbeat | portfolio construction | profitability

I spent about three hours yesterday learning an application for doing research on the Web. It made me realize that entrepreneurs must have an attention span.

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Yesterday, I spent time researching apps for sharing collecting, indexing, and archiving research, and wrote about Diigo. It took time and concentration to produce that research report.

For you, finding the time to research stocks and funds and to select money managers is probably the same. So is business planning.

It’s not easy setting aside the time to research what’s really important in your business. It’s not easy making time to think.

So I want to encourage you to take some time today to think about how you can manage money better. Do you need to focus on securities analysis? Do you need a professional credential—like a CIMA, CFA or CFP?

Spend some time what you have to do to make your practice more rewarding—financially and personally. Even if only for a moment, close your eyes and imagine yourself successful and happy a year from today.

What does that look like? What have you accomplished?

How are you spending your time? What did you change?

What did you do that made a big difference?

It’s so easy to get lost in day to day issues. So, on this first Friday in May, with Osama Bin Laden no longer a threat, the financial crisis behind us, stock indexes just 15% off all-time highs and the economy slowly rebounding, I wanted to encourage you to think about what’s really important to your firm’s growth, or to spend an hour researching an issue that could make your business grow significantly over the next year.

Be smarter than a fifth grader.

 

 

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