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Hello and welcome to The Magellan Network Show. It’s the start of November! As we prep for the upcoming Magellan Vision Process, I want to discuss tracking key metrics or KPIs.
There’s a saying: “What gets measured matters.” Yet surprisingly, 80–90% of advisors don’t fully understand their essential business metrics. Why don’t more advisors track what matters? Often, it’s because they don’t see the importance, lack a reliable system, or rely too heavily on reports from their firms.
In this episode, I discussed the following:
(03:37) The two types of metrics
(07:34) How focusing on the right data can double your results
(10:50) Why ignoring profitability can be a costly mistake for advisors
(12:24) The numbers that advisors need to know about their business
(13:30) The importance of knowing where your opportunity flow comes from
Related: The Inconvenient Truth About Many Financial Advisors