Kitces and Carl - Real Talk for Real Financial Advisors
Are You Worrying About Scale Before You Even Have A Scale Problem?: Kitces & Carl Ep 140
Jun 13, 2024
In this podcast, the hosts discuss advisors' premature worries about scaling, debunking myths about inflated costs. They address hesitations in scaling, highlight the importance of balancing technology and growth, and emphasize the value of focusing on key questions and running small experiments for business growth. The conversation also explores problem-solving as a spiritual practice, emphasizing self-reflection and continuous improvement.
28:45
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Quick takeaways
- Scale worries can mask hiring and autonomy concerns, hindering business expansion.
- Profitability doesn't always scale with business growth, focusing on client value is crucial.
Deep dives
Understanding the Inherent Worries about Scaling
Worries about scaling often surface in business decisions, leading to concerns about profitability and client workload. A common dilemma arises in setting the right prices and anticipating the expanse of workload tied to growth. Businesses sometimes camouflage genuine concerns about hiring and autonomy under the guise of scale challenges, creating a barrier to expansion. The notion of scalability can be misinterpreted, blurring the need for efficient growth strategies and pricing structures.
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