It’s logical to assume that saying yes would lead to more success, but that’s not the case. Successful people know that saying no to the wrong things, allows them to say yes to the right things.
It difficult to distinguish yourself as a wealth manager or financial planner, but Josh Patrick is a bit different. Josh is an experienced business owner and operator and has been able to carve out a unique niche for himself because of it. He has also learned the importance of asking great questions, intense listening, continual learning and, of course, saying no.
After spending 20 years with his family business, Josh sold the company and founded a very successful wealth management firm called Stage 2 Planning Partners. Josh has been a contributing writer for Forbes, Inc., the Huffington Post and the New York Times, he writes for his own site at AskJoshPatrick.com, and he is the host of the Sustainable Business Podcast (check out Episode 039 on how to buy a business – you may recognize the guest 🙂 ).
Josh’s stated passion is to help private business owners and their advisors create extraordinary value with their businesses and lives. He helps create great outcomes for business owners by drawing on his almost 40 years as a business owner and advisor. He is a student, an entrepreneur and a curious observer of life.
In this episode:
- How you can carve out a niche in financial planning based on your background
- The ability of wealth managers to serve as trusted business advisors
- Benefits of being in business first, so you can be credible and believable to business owners
- How being a generalist can kill you
- Having a niche can add to legitimacy with a market segment and can make referrals easier
- Why it is critical for advisors to ask great questions and listen very closely
- The value of saying no
- Why the one arrow in your quiver may not be relevant
- Finding the magic formula when combining trust and competence
- Going into client meetings with an open mind and no agenda
- Three questions that will set you on a productive path with a new client
- Simplifying things for your clients
- Why it makes sense to let clients go when they don’t fit
- Putting in the work to become a category expert
- Josh Patrick’s LinkedIn Profile
- The Trusted Advisor by David Maister, Charles Green and Robert Galford
- Traction: Get a Grip on Your Business by Gino Wickman
- The Advantage by Patrick Lencioni
- Critical Path by Buckminster Fuller
Music by Elijah from NOMADS