Financially Simple

In the early stages of your Registered Investment Adviser (RIA) firm, it made sense to work with anyone who could fog a mirror. But as your firm grows, many of the clients that you served in the beginning may not offer your business the same value they once did. As a result, these clients can chip away at your firm's efficiencies, preventing you from gaining ground on your journey toward the eight-figure exit. In this episode, I discuss the power of saying, "No" to clients who are the wrong fit for your RIA. This tiny word is one that, as business owners, we don't often like to say. However, embracing the power of no could increase your bandwidth, enabling you to say yes to the clients who can truly help drive you to the exit of your dreams.   This week on The Financially Simple Podcast:  (00:42) The eight-figure exit requires the correct client base (03:27) Business constraints (05:56) The Pareto Principle and Dunbar's Number (09:50) Learning the power of "No" (12:47) Reasons we "outgrow" particula