BGN Financial can help you build a successful lifestyle practice but what is a lifestyle practice and do you even want one?
The starting point to understanding a lifestyle practice and determining if it is for you is to understand what it is not.
1: A lifestyle practice is not the biggest business you could ever build. Our focus is on building a sustainable business that funds the life you want to live. The goal is not growth for growth's sake. We want to build businesses that meet your goals and needs, provide you with the cashflow you need to live your life and build your wealth, which leads to my next point.
2: A lifestyle practice is not a retirement plan. At BGN Financial we have seen too many people grow businesses assuming they will sell and retire one day. When that day comes they find that selling their business is hard, no one wants it or they can’t get the price they thought they would. A lifestyle practice takes into account your goals. It is a cash flow machine that not only funds your lifestyle but also allows cash to grow other assets, the assets you will one day use to retire. Selling your business could just be a bonus.
3: A lifestyle practice is not supposed to rule your life. Your family, friends and loved ones deserve your time and you deserve to spend time with them. A lifestyle practice takes this into account, as well as the ‘normal’ business things like profit and cash flow. Success is not solely judged by revenue, but also freedom of time and the freedom to choose.
How does that sound, does it sound like it might be for you?
Does this sound like something you would like to be involved with?
Advisors who join us go through our ‘6 steps to a successful lifestyle practice’
1: Life Values: How you want to live
2: Know the numbers: Know the numbers
3: Practice Values: How you want to work
4:Set the rules: You’re in control
5: Add a friend: It’s fun to share
6: Cruise control: What’s next is up to you.
You can get in touch to learn more.
Building and running a lifestyle practice is one of the best decisions you will ever make. You get to run your business, not the other way around
Until next time. Have a fantastic day