Balancing Growth and Lifestyle

Advisory firms often face the challenge of balancing growth, margins, and lifestyle hours. It is suggested that a firm can typically achieve two of three goals: high margins, growth, or lifestyle hours, but trying to achieve all three simultaneously may lead to difficulties. For example, a growing practice might require hiring more staff to manage increased client demands, which could pressure margins and reduce lifestyle hours. This dynamic highlights the reality that advisors need to be intentional about their practices to avoid overextending themselves and compromising their desired work-life balance.