4min chapter

Setting The Right Minimum Fee Per Client And The Revenue Model Generator: Kitces & Carl Ep 115

Kitces and Carl - Real Talk for Real Financial Advisors

CHAPTER

The Lifestyle Practice Revenue Generator Model

I'd love to take you through what I call the lifestyle practice revenue generator model. There's really just three three equations. And they're already at line. So equation number one is personal income. If I want 100,000 in personal income, then I need to make an assumption about the margin that the business operates on. Let's just say we pick a 50% margin and gets this research could tell you what number to put in there. You were 50 as as a solo advisor, probably 50 to 70%. Yeah, a little higher if you want to work with a small number of affluent clients and a really tight bunch. Right? That comes up with revenue of the 200,000

00:00

Transcript

Episode notes

Speaker 3

Furnishing your new home is easy at NFM. Appliances, electronics, furniture, and flooring. This one-stop shop has everything. And our expert interior designers are ready to help you create your dream home. Plus, we shop the competition and update prices daily, so you'll always get the best deals. Make shopping simple with same-day drive-through pickup or ask about delivery options. Long-term financing is available too. Big selection, big savings, big ideas, NFM. Local metro areas, some exclusions apply sea store for details.

Speaker 4

eBay Motors is here for the ride. Elbow grease and a whole lot of love transformed 100,000 miles in a body full of rust into a drive entirely its own. LED headlights, spoilers, whatever you need. eBay Motors has it at affordable prices. And with eBay guaranteed fit, it's guaranteed to fit your ride every time. Keep your rider die alive at ebaymotors.com. Eligible items only, exclusions apply.

Speaker 3

Fatih. Loving what is. In this episode, Eckhart talks about the process of writing his first book, The Power of Now. He says he surrendered to the idea that the book wanted to be written. He explains he had a vision which inspired him long before he wrote the first word. He shares that he encountered naysayers, people who tried to discourage his pursuits. And he says when an individual, a group, tries to bring new knowledge to the world, they often encounter resistance. The book eventually became a number one New York Times bestseller. And I believe one of the most influential spiritual books of our time. And he says that the ancient Romans had an expression for surrendering to something greater than ourselves, which is amour fatih. In Latin it means loving one's fate. Eckhart believes the true meaning is loving what is. He says when we align ourselves with the isthness of the present moment, enormous power is released, connecting us with an intelligence which permeates the entire universe.

Speaker 1

I was beginning to write The Power of Now many years ago. And people asked me, what are you doing? I said I'm writing a book.