How Busy Are You? Overcoming Overwhelm In The Investment Management Business

are you too busy?Are you spending too many hours at work? Do you get to work before the sun comes up and leave after the sun has set? (Or it feels that way?) Do you go home at night with a large pile of work on your desk that still needs to be handled?

If you own your own investment management business and you find that you’re buried in work day after day, month after month, with no end in sight, it’s time for you to get out of overwhelm and get a life!

I find that investment managers are usually overwhelmed for one of three possible reasons.

You don’t want to give up control – Years ago I worked with a woman who had two businesses. One was a tax return preparation business with employees. The other a financial planning business without employees. Each year during tax season my client was overworked, tired, and burned out. Yet as we coached through the issues, it became apparent that she did not want to give up control of her tax business, either by delegating to staff, hiring a partner to take it over, or selling the business. She was earning far more as a financial planner yet was unwilling to focus her efforts on financial planning.   To this day she is still overworked and will probably never change because she does not want to give up control and focus on what she does best. Could this be you?

You avoid delegating to your staff – You may say to yourself “By the time I show them how to do it, I could have done it myself.” This of course is just an excuse and could be a symptom of deeper issues going back to reason #1. Yes, it takes time to train staff on how to do tasks that can free you up for what you do best. But that time investment pays off more and more as time goes by. Every successful business owner I have ever worked with has managed to learn to delegate effectively. Initially it feels weird. Like you’re giving your children to someone else. Or you may feel guilt that you “should” be doing the work you’re delegating. I like to say “Don’t ‘should’ on yourself!” Get over it and start delegating!

You need to hire an additional staff member – If you’re dealing with too much paperwork or handling too many emails, and you find it difficult to make time for clients, you absolutely need to hire a new support person. If you are at the point where not having the additional help is hindering your business growth, then you are not doing yourself any favors by continuing to do the work of two people. Because of your experience and expertise, your time is worth a minimum of $250 an hour. If you could free up 15 hours per week, what would that mean for your business and your financial success? What activities would you engage in if you could find more time in your day?

Coaching questions for overcoming overwhelm:

  • What is your role in the organization? If you’re the company president, how do you need to change what you’re doing in order to assume the role you should be performing?
  • What are your responsibilities? Do you have written roles and responsibilities that detail who does what and what’s expected of them?
  • What are you good at? Where do you excel? What do you love to do?
  • Where should you be spending your time? Let’s jump to the easy answer! Spend more time with clients. Spend more time envisioning your grand vision.
  • What’s the best use of your time to get the best ROI from your time at work? Spend more time actively prospecting. Spend more time leading your team and coaching them to greatness.
  • What tasks help the organization earn more revenue?


So if any of the three reasons above apply to you, making progress in your profession this year requires you to make some changes. Take a hard look at what you are doing now and determine what you need to do. Get productive, work smarter not harder, and get busy living.

How to Get a Better Life: Earn More!

incomeI follow many personal finance and investment blogs. I love reading and digesting points of view on how to save intelligently, how to invest for the future, and how to enjoy a better life.

There are countless ways to save money and put more away. You can find ways by saving on auto insurance, decreasing household bills, paying off credit card balances, and the like.

Most people, however, don’t talk much about earning more!

This post is about not only money lessons, but also the idea that earning more can take care of many money concerns and provide a better standard of living so that you can travel, dine out, have nice things, or drive a better car. You can also review a detailed article on the subject of earning more here.

It doesn’t matter if you’re a financial advisor, an investment banker, a private equity professional, or even a hedge fund manager – most people could benefit from earning more!

I confess that I am quite good with money and always have been. By the time I was 18 years old I had saved $5,000.00 in a savings account. I was frugal, worked overtime in my dad’s business, and put every extra cent away in my savings account. One day my savings statement came in the mail. My dad opened the statement and promptly asked me to invest in his business. I never saw that money again.

Money lesson learned: don’t tell dad how much money I have saved!

In our family, during the globetrotting years, we always lived in the best houses in the best cities with ocean views and a very upscale way of life.  I attended the best schools, ate in the best restaurants from Hong Kong to Palos Verdes Estates to the Maui Kapalua Resort. To this day I enjoy living in an affluent city and partaking in a well-balanced lifestyle.

During this time, I noticed that my dad worked long hours and spent time analyzing income statements and balance sheets while strategizing how to increase our family’s income.

Lifestyle lesson learned: Dad always said, “You have to work hard to earn more and live well doing it.”

So while there is much to be said about getting your household and living expenses under control, the fact is …

You can live a far better life with more income!

Decreasing expenses, living within your means, coupon cutting, living in a less expensive house, driving a less expensive car, shopping at discount outlets, ordering the less expensive meal on the menu – these strategies do work! But wouldn’t you simply like to earn more!!!

Take a good look at your life

Assess where you are in your life. Think about your life as if you were telling a story to someone you’ve never met before. What is working in your life right now? Are you happy in your job? Is your career satisfying? How about your relationship with your spouse? As you think about where you could make improvements, would having more income make a difference?

There are studies that show that happiness increases with income but this contentment begins to decline at about $75,000 in annual income. I beg to differ with these studies because as I’ve seen with my clients who double, triple, or quadruple their income while working with me, happiness definitely continues to increase as income increases.

Money buys comfort!

More income buys convenience, luxury, and comfort. We are all a product of our upbringing and the lessons we learned about money and life. While we can scrimp and save to get by, we can also invest in ourselves by learning new skills, getting out of our comfort zones, getting off our butts, and doing something to earn more.

Career success in finance and investments comes from making an investment in YOU. Make 2015 your best year and take action to earn more and have a better life!


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