The Science Behind Building an Enduring Practice
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“The more things change, the more they stay the same.”
Jean-Baptiste Alphonse Karr
Make a list of the services you provide your clients, and you will find nothing new. You might not have been providing those services 20 years ago, but other financial advisors were.
How those services are provided has changed a lot, though.
Jeff Bezos, the founder of Amazon, made a thought-provoking observation:
I frequently get the question: ‘What’s going to change in the next 10 years?’…I almost never get the question: ‘What’s not going to change in the next 10 years?’ And I submit to you that the second question is actually the more important of the two because you can build a business strategy around the things that are stable over time.
It may surprise you to learn that when Bezos went through this analysis for his own business the answers had nothing to do with technology. In fact, his answers were downright old-school. He believed his customers wanted low cost, fast delivery and vast selection.