Way too often people will walk in my office and slump down in a chair. We’ll start a conversation and eventually I’ll get around to asking why they decided to visit with me. The answer is often I need to sell my business. After we talk for a few more minutes I’ll find the reason they believe they need to sell their business is because they’re burned out. They just can’t face another day of dealing with the same problems they’ve had for the last twenty, twenty-five or thirty years.
If this sounds like you, there’s hope. Read on and you’ll find out why.
You’re not 30 years old anymore.
If you’ve had your firm for a long time you can’t keep doing things you did when you first started. If you do, there’s a really good chance you’re going to be bored. There’s even a better chance that you find that you just don’t the same amount of energy that you used to have.
I also bet that you’re a much wiser person now than when you first got into the business. You’ve learned what works and what doesn’t work. You’re also probably fighting a feeling that you “need” to do certain things in your firm.
Believe me, there’s no rule that you need to do the same things as when you started. In fact, I’m hoping that you use your wisdom and think about different ways of getting activities done in your firm that are crucial for your success. Use the wisdom you’ve developed and have courage to change how you work.
Do you know what you’re really good at?
I want you to think about what you’re really good at. I bet that when you’re doing those things you have almost unlimited energy. If you’re feeling burned out I’m willing to bet that you’re spending way too much time doing things that you should learn how to delegate to others.
What, you can’t delegate? Please don’t tell me if you delegate there’s going to be too many mistakes. If you don’t learn to delegate, then you’re just not going to find a way to get past burnout. Your only choice will be to find a way out by selling and selling for way too little money. I don’t want you to have just one choice. Instead, I want you to learn how to delegate. Life will be better. I promise.
How much time do you spend doing those things?
All of us have some things we must do that won’t add tons of energy to our life. In fact, these things will probably drain energy. I call these things vampire activities. They’re going to suck all of the energy out of you. You need to limit the amount of time you spend doing letting vampires take advantage of you.
I bet you believe that you have to do them because you’re the best in your firm at things that need to be done. I want you to ask yourself this question, “If it took someone 30% more time to do it than me, what would happen?” I bet you’re going to find the answer is almost nothing. Yea, it’ll cost you a little more money. I bet money isn’t the issue for you, it’s having to do those energy draining activities that you just dread. Show some courage and just let them go.
Here are a few things you can do.
If you don’t know what you’re really good at go here and take the Now Discover Your Strengths profile. It’ll cost you just a little bit of money. (I have not financial interest in this instrument.) It’s an easy way for you to find out what you’re good at.
After you find out your strengths I want you to then write down all the things you do at work that support those strengths. Then, I want you to see how many things you do that aren’t even close. See how much time you’re spending on each. If you’re feeling burned out, you are going to find that you’re spending way too much time doing things you have no unique ability for. It’s really that simple.
Now it’s up to you.
There is a way to stop being burned out. All you have to do is find a way to delegate and learn how to let those you work with make a few mistakes. Remember, delegation doesn’t mean abdication, it means that you have to support your people and make sure they do it correctly. If you take even a few of my suggestions I bet you’ll find that you’re not going to be even close to as interested in leaving your firm.
Let me know how it all turns out. I love to hear stories on how people gain energy from just changing what they do at work.
I’m going to ask you a favor……that’s to sign up for our newsletter. All you have to do is click on our newsletter sign up button and you’ll get ideas on how to run a wealth management firm that’s truly sustainable. Also, if you liked what you read, please forward it to a friend.