The Efficient Advisor: Tactical Business Advice for Financial Planners 251: Friction-Free Process: What Advisors Can Learn from Uber’s Success (Efficient Friday!)
Feb 28, 2025
Discover the essence of 'Efficient Friday,' where quick tips empower financial advisors. Dive into how Uber revolutionized transportation by removing friction, and learn ways to enhance your client experience by simplifying onboarding and communication. Explore practical strategies to identify roadblocks in your processes, making interactions smoother and more enjoyable for clients. Transform your advisory practice by applying these innovative ideas.
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Taxi vs. Uber
- Hailing a taxi in 2010 was a frustrating experience with uncertainties about availability, routes, and payment methods.
- Uber revolutionized the industry by removing these friction points, making the experience smoother and more predictable.
Reduce Friction
- Analyze client processes for friction points, like difficulties setting up client portals.
- Focus on making things easier for clients, even if the core service remains unchanged.
Frictionless Onboarding
- Instead of just sending instructions, schedule a brief call to guide clients through setup processes.
- Proactively address potential pain points to create a smoother client experience.