NFIB

Redefining My Role
07/ 08/ 2002

by David Geller

I remember the day I knew it was time to change my role in the financial planning firm I started with my brother Matt 11 years ago. Through delegation and redefining my role as the business’s visionary leader, I was able to embrace growth and success and enjoy all that life has to offer — professionally and personally.

The signs were clear in 1996, five years after Matt and I started our business. We had about 10 advisors and more than 500 clients, most of whom were mostly high-income professionals and owners of family businesses.

But I was having trouble serving existing clients while trying to attract new ones. I supervised too many people and they often complained about my inaccessibility and poor direction. I had some great ideas about growing the firm and better serving our clients, but was frustrated because I never seemed to have the time to implement them.

I started by reading books like Built to Last by James C. Collins, The E-Myth by Michael E. Gerber and the classic Seven Habits of Highly Successful People by Stephen R. Covey. Through the book The Leadership Engine by Noel M. Tichy with Eli Cohen, I learned that a true visionary leads through innovative ideas, values (by developing and promoting core values for the business), energy (by motivating people with enthusiasm and focus) and edge (by facing the hard facts and making the tough calls).

My first step was to find someone to whom I could delegate the work that was no longer appropriate for me to do. I started by making a list of everything I did and indicated the dollar-per-hour value of each job. I soon found that it was more cost-effective to assign many of these duties to another member of my team, hire a new employee, or outsource some of the jobs. This process alone made me feel a little lighter as some of the weight was lifted from my shoulders.

Next, I wrote my own job description. By putting down on paper exactly what I did and did not do, it was easier to know what tasks to delegate. This step also helped me from slipping back into the traditional entrepreneurial role of wearing all the hats. Yes, in the short term, it may be easier and less expensive to do the work rather than assign it to someone else. But in the long term, it made sense to limit my responsibilities. I had to remember that my main responsibility now was to be my firm’s visionary leader.

As an entrepreneur, my initial role was to focus on sales and keep the business running. Now, my job is to create innovative marketing, financial planning and investment strategies, coach my people, and direct the overall course of the firm. To do this well, I schedule time on my calendar to retreat to a quiet, private place for big-picture thinking.

I worked on working less by intentionally setting aside blocks of time for exercise, vacations, Jewish studies and family time. In addition to re-energizing myself, I find my best ideas and most objective strategies come to me during this time away. I became comfortable with taking risks because I know it’s virtually impossible to make great strides by playing it safe. With input from the other advisors, we clarified and communicated our firm’s values and vision.

If you’re like most entrepreneurs, becoming your company’s visionary leader is a challenge. After all, you’re much more accustomed to doing a job than thinking about it. However, with a little discipline and the support from those who share your vision, you’ll find this is the most important, most rewarding role you’ll ever have.

Geller is CEO of GV Financial Advisors, a financial planning firm in Atlanta. More on the company can be found online at www.gvfinancial.com.

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This article originally appeared in the June/July 2002 issue of MyBUSINESS magazine.

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