The 7 Figure Ascension Model

Why financial planners fail, or at least why don’t they hit the levels or targets that they set themselves.

I want to talk to you about the five big mistakes.

Five misconceptions that financial planners have when they got into the game and what’s stopping them from getting to that seven figure level.

And these things are a real game changer for you. And I think if you do this right, you know, they’re gonna make a massive difference. And if you’re taking notes guys, now’s exactly the right time start.

So there’s five mistakes that planners are making – and if you’re doing one or two of them, they’re going to really hold you back. If you do two or three, and it’s going to really, massively impede business. But if you’re doing all five, it’s going to cripple you. And I want to make sure that you know exactly what these five are so that we can avoid them together.

Mistake number one is what I call Failure to Assess.

So I reckon the first problem that financial advisers have got is that they don’t take the time to assess where they are, exactly where they’re at in their business, in their career, in their journey and where are we at right now?

It’s kind of like walking along with a blindfold, isn’t it?

You know, you can shuffle, and shuffle your way along and try to avoid obstacles and you know, things that you might bump into, try and avoid getting bruised.

You know, you can be spoon fed and drip fed leads and clients and people and names and things like that. You can rely on someone else pouring leads down your throat…, And yes, someone else can do all the work for you…

But eventually, you’ve got to be able to stand on your own your own two feet don’t you? You’ve got to take responsibility for your own destiny, and you’ve got to make sure that you don’t fall off the cliff.

And I think, what we need to do is get absolutely crystal clear on where we’re at right now. And where we want to be and what stage we’re at so that we can really be clear for our clients, and we can also be really clear for our strategic alliance partners as well.

So we need to work out where we’re at, in our journey.

So what we did last week, we looked at what I call the 7 Figure Ascension Model.

So the ascension model, basically, it’s from the start to the top, and I’m just going to maybe I’m going to bring my cursor in here guys. Hopefully you can see my cursor.

Were down here at the bottom at Start-up phase. And over here is on the left hand side is sort of the Money – how much income are we making?

And on the right hand side of the pyramid it’s how much time we’re spending.

So we start at Start-up phase, and really, there’s hardly any money when we start up isn’t there? There’s hardly any money at all… and we’re doing it. And we’ve got plenty of spare time. We’ve got a little bit of free time.

We then move to the next level, which is what we call Survival stage.

And we started to make a little bit of money, but we’re probably not profitable at all. We may only just be, we’re just surviving, and it only just covered the bills. But we’re spending – we’re doing it all the time.

Then we get past that magic threshold, we get up to what I call Stability, and we start to make some dollars, but you know, we’re starting to cover our costs and things like that, and we’re bringing an income home… and we’re now full time.

We then move to Success.

So now at this point on the left hand side, we’re making a bit of money, and we can cover all their bills and maybe put a little bit aside – sock a bit away into super… Have a holiday here and there… But we’re now working overtime because there’s a there’s a trade off with success isn’t there? And that’s a lot of bloomin’ hours!

But then we move up into green line We get to a place of Significance.

And now we’re starting to make some money. Now we can start to have our holidays and we can get into our decent cars, and we can put our kids through good schools and things like that. And now it starts to be money time.

And then at the top of the pinnacle of that ascension model, we now get to a point where we can Scale and now we’re now starting to really make some money.

We’ve got other advisers; we might have other practices. We’ve got other offices, you know, we’ve got people working with us and what we do we trade up and we’ve now got some free time.

So just on the on the right hand side of that ascension model… Survival and Start up – I reckon that sort of between $0 and $250K per year is what we call Start up or Survival. From $250K to $1Mill a will get you through some Stability and Success.

Once we get to significance, it’s sort of between a $1Mill and $2 million marks – because we can rapidly get – once you’ve got a bit of size, you can rapidly get from a million to a million dollars. It’s fairly easy.

And then once we once we get up into Scale, we’re now over here up into sort of $2 Million dollar plus they were pretty successful business. If you bring it in, we have a $2 million plus. At a point with a pretty successful business at the $2 Mill plus mark. This is as an individual guys. This is each and every person individually.

We’ve now got a bit of Scale, and what we need to do on the left hand side of the of the model in the first to Survival and Start-up, we need to have models and systems that ATTRACT clients.

But once we get into Stability and Success, we now need to focus on – we’ve got clients now – we need to CONVERT them. We need to increase the fees. We need to Convert.

And then once we get up to Significance and Scale, we want to start to automate really, really automate at this point. So we need systems in your business that are going to DELIVER.

So that’s what we called last week the Ascension Model Triangle.

It’s a really clear roadmap for you to build… so, what you’ve got to do, you’ve got to – so $zero to $250 to a million to 2 million and 2 million plus… I need you to be clear… Maybe put a mark or a line or a tick next to where you believe you’re at and maybe write your annual turnover, income and get clear on that figure.

Because that’s the first point we need to know where we’re at and that’ll give us the ability to move up to the next, and the next one, and the next level.

Steve