The Efficient Advisor: Tactical Business Advice for Financial Planners

95: 4 KPIs to Measure Productivity and to Actually Track Efficiency *FREE DOWNLOAD*

11 snips
Feb 13, 2023
What does a more efficient financial practice actually look like? Explore four easy-to-track KPIs, from revenue per hour and client-facing time to client impact and referrals. The conversation also touches on scaling without simply working longer, designing a business with less stress, and a free KPI tracker to put the numbers in one place.
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INSIGHT

Measure What You Can Control With KPIs

  • Measure efficiency with KPIs you can control instead of high-level outcomes like revenue.
  • Libby focused her goal-setting on four productivity KPIs she used to scale while reducing hours worked.
ADVICE

Define Scaling As More Per Unit Of Time

  • Scaling means doing more per unit of time, not simply increasing hours worked.
  • Libby warns that a 20% revenue increase that comes with 20% more hours is not scaling.
INSIGHT

Measure Actions Not Outcomes You Can't Control

  • Focus measurement on actions you can control (calls, meetings, follow-ups) rather than outcomes you only influence.
  • Libby lists controllable activities like number of meetings, outreach, phone calls, and follow-ups as basis for KPIs.
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